Read from ‘A Peoples’s History of the United States’ Ch. 9,11, and 13. ‘The test of our progress is not whether we add more to the abundance of those who have much it is whether we provide enough for those who have little.” — Franklin D. Roosevelt ‘This country has socialism for the rich, rugged individualism for the poor.’ — Rev. Martin Luther King Jr. ‘ The following questions will require at least a paragraph. How did the United States become involved in World War II? How did the Nazi Party rise to power in Germany? What were the causes of World War II?
In order to mitigate the global effects of China’s economic expansion that may be detrimental to the U.S. strategic position, it is imperative for the United States to engage with China in a cooperative and mutually beneficial way. President Donald Trump has been a vocal critic of trade deals, and has been especially harsh on Beijing, effectively blaming low Chinese labor costs for the perceived lack of American jobs. According to the United States Trade Representative, two-way trade with China was $598 billion USD in 2015, thus making China the United States’ largest trading partner. If the anti-Chinese rhetoric manifests as higher tariffs on Chinese imports, China may focus its trade efforts away from the United States and toward its New Silk Road partners, thus significantly reducing U.S. international trade. The impact of arresting trade with China on U.S. gross domestic product (GDP) is difficult to ascertain due to competing variables, but it is likely to have a net negative effect. While tariffs would increase the net exports variable used in calculating GDP (the U.S. is a net importer from China), they may adversely affect other factors that contribute to GDP. For example, Chinese goods are less expensive to produce than U.S. and most European goods. Thus, if the United States diverts its import activities from China to Europe or increases domestic production, these goods will likely be more expensive than the Chinese alternatives, thus reducing overall domestic consumption within the United States. This new equilibrium would also affect the supply of domestic goods as demand decreases, thus also reducing U.S. investment in domestic production (and a subsequent reduction in demand for labor). Overall, this may lead to a net decrease in the U.S. GDP and a reduction in available jobs within the United States. This American jobs loss would be exacerbated further as China shifts its manufacturing capabilities upmarket via the Made in China 2025 initiative, which may induce the offshoring highly skilled U.S. jobs in addition to skilled labor.>GET ANSWER