China has been a great contributor to the economy of US through trade. The economic growth of US has improved because of the increase of their exported products. In relation, China has given the US more than 300% increase in all the market products. Generally, global trade is not in the best but China is still ahead in this aspect. Products coming from the US are imported to China in greater amounts compared to other countries where trading also occurs. In fact, it has been growing and definitely contributes to the economy of the US. This also increases the availability of jobs to cater to the different industries related to the exported items. As an example, China has been importing from the US such as equipment for transportation, agricultural products, and electronics among others.
An increase in the export goods leading to China has been evident since 2006 among all the countries in the world most especially the US. This makes China a good market for business. In a closer look, a number of goods and services that the US exports to China are a great considerable amount. The other states also benefited from this such as New York, California, Texas and small states like Kentucky, Utah, and Nevada among others.
In this bilateral relationship between US and China, it would only be best to keep it going. With higher targets, both China and the US will have greater economic opportunities for growth. This also opens the need to further expand the range of products to hit different types of market. China has been more strict with the process of importing but the US can only comply with the aid of different demands. The World Trade Organization can support the business exchanges between the two. As well as the Office of the United States Trade who keep track of the records and practices. The unfair practices of China can be looked into closely by these firms. Furthermore, this requires better policies so as not to have conflicts and the US is already working towards negotiations with China.
As a matter of fact, exporting regulations between China and the US have been present in the 1940s. It was passed by the US to forbid exporting of certain materials such as chemicals, minerals, and parts of aircraft to the Indo-Chinese coast. This was a depressed time for China since the Sino-Japanese war and the violent Rape of Nanking, coincided and was the reason for the Export Control Act. It was an American initiative to protect them from the Japanese expansion. The exported goods needed to acquire a license and without it, the process will not push through. It was effective for a short period only and trade went on since then.
It was a milestone from the different points of history to where the US and China stand now in terms of exporting. Being the two top nations in the world, they are not quite abundant on all the resources; thus, export is a move to fill in the requirements and needs of each of their people. Currently, the product that China has been importing from the US is soybeans. This made the US a huge exporter of the product due to the increasing demand in the Southeast Asian country.
A particular challenge, however, is the exportation of Liquefied Natural Gas from the US to China. This would require good negotiation and strategy because for the US, exporting LNG to China will be a great boost to their economy but constraints include not being capable to actually deliver the product to China; this gives China options to consider Australia.