What does Power of US mean for China’s Economy
The power of US is the power of the dollar. The US dollar is the world’s reserve currency, which means that most countries’ central banks hold and trade in dollars.
The US economy is also a major trading partner for China’s economy. The US has a much higher GDP than China, which means that it has more economic clout and more buying power in the world market. The United States has a lot of political, military, and economic influence on China’s economy.
How does the US affect China’s economy?
China’s economy is heavily dependent on the US. China is the largest trading partner of the US.
The trade war between the US and China has been going on for a year now and it has had a significant impact on both countries economies. The trade war started in 2018 when President Trump imposed tariffs on Chinese imports to protect American jobs, accusing China of stealing intellectual property, forcing American companies to transfer technology, and engaging in other unfair practices.