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Most favored nation (view source)
Revision as of 01:46, February 22, 2021
, 01:46, February 22, 2021→China
By 2017, the 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.
By 2017, the 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.
[[Tariff]]s on Chinese imports stemmed the [[capital]] outflow from the U.S. to China, sparked creation of manufacturing and service sector jobs in the U.S., and slowed the Chinese [[military]] build-up which previously was being funded by American [[consumer]]s.<ref>[https://www.americanthinker.com/articles/2018/06/trade_deficits_paying_for_china_military_buildup.html]</ref>
==Historical MFN agreements==
==Historical MFN agreements==