Over the past four decades, Sino-US economic and trade

Over the past four decades, Sino-US economic and trade

relations have not only become more interdependent but also changed qualitat

ively. To start with, China today exports an increasing volume of high-quality goods to the US. Considered as the “wo

rld’s factory” and a country with a very high savings rate, China has built huge foreign exchange reserves and greatl

y improved its trade environment. And thanks mainly to China’s manufacturing prowess, Sino-US trade has ri

sen from $2.5 billion in 1979 to $633.52 billion in 2018, an increase of 253.4 times which is unprecedented in history.

Sino-US trade and economic relations have not been beneficial to Beijing alone, as inexpensive

but quality Chinese products have met the rising demand of the American people for affordable and relia

ble goods. Economists generally believe that Chinese products, which are good in qual

ity and low in price, help the US to keep inflation in check, and an average American family to save at least $800 a year.