CHINESE VECTOR OF US POLICY IN THE SECOND PART OF THE CURRENT DECADE:ECONOMIC ASPECT

Abstract

The paper covers new approaches of theUSadministration to foreign economic policy with focus onChina, the wide range of instruments being used against unfair Chinese practicies.USpolicy with some issues shaping theUSparticipation in the world economy and changing relations with main trade partners, includingChina, is being analyzed. The Tariffs being imposed by US and then byChinaare only a piece of the problem. The negotiations over the protection of intellectual property, cyber theft, technology transfers are on the agenda. It is highlighted thatChina’s science and technology capabilities, with growing of research and development spending remaining extremely high, has made it possible to become a prominent player and the largest world’ producer in many technology-intensive industries. Also its relative position is not so strong in the knowledge – intensive services sector, where US and leading EU countries are dominating, China’s growth in this field is far more rapid than developed economies overall. While global economic competition is increasing, it becomes more difficult to reach the bilateral understanding between US andChina.