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→Post-Deng China
China's "economic miracle" since it was granted [[Most Favored Nation]] (MFN) status by the U.S. Congress in 2002, and access to the U.S. consumer market, led to unprecedented economic growth and better living conditions for millions of Chinese. It also strengthened the grip of the anti-democratic [[Chinese Communist Party]] over people's everyday lives, and the loss of manufacturing jobs for consumer products in the United States.
China's "economic miracle" since it was granted [[Most Favored Nation]] (MFN) status by the U.S. Congress in 2002, and access to the U.S. consumer market, led to unprecedented economic growth and better living conditions for millions of Chinese. It also strengthened the grip of the anti-democratic [[Chinese Communist Party]] over people's everyday lives, and the loss of manufacturing jobs for consumer products in the United States.
By 2017, imposition of [[tariff]]s by U.S. President [[Donald J. Trump]] began to redress the imbalance. China's economy was developed over those early decades of the 21st century as a coastal, manufacturing economy entirely dependent on exports. Young people left their home villages in the countryside to seek work in coastal factories. The prosperity was all built on access to the U.S. consumer market, and Americans' appetite for cheap manufactured goods. Scant attention was paid to developing a domestic service sector economy, while the vast interior remained impoverished, and increasingly so as young people abandoned agricultural work for factory work.
By 2017, imposition of [[tariff]]s by U.S. President [[Donald J. Trump]] began to redress the imbalance. China's economy was developed over those early decades of the 21st century as a coastal, manufacturing economy entirely dependent on exports. Young people left their home villages in the countryside to seek work in coastal factories. The prosperity was all built on access to the U.S. consumer market, and Americans' appetite for cheap manufactured goods. Scant attention was paid to developing a domestic service sector economy, while the vast interior remained impoverished, and increasingly so as young people abandoned rural agricultural work for urban factory work.
==References==
==References==