Title: China’s Economic Rise: History, Trends, Challenges, and Implications for the United States - EveryCRSReport.com
Headings: China’s Economic Rise: History, Trends, Challenges, and Implications for the United States
China’s Economic Rise: History, Trends, Challenges, and Implications for the United States
Topic areas
China's Economic Rise: History, Trends, Challenges, and Implications for the United States
Contents
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Tables
Summary
The History of China's Economic Development
China's Economy Prior to Reforms
The Introduction of Economic Reforms
China's Economic Growth and Reforms: 1979-the Present
Causes of China's Economic Growth
Measuring the Size of China's Economy
China as the World's Largest Manufacturer
Changes in China's Wage and Labor Cost Advantages
Foreign Direct Investment (FDI) in China
Factors Driving China's FDI Outflow Strategy
China's Merchandise Trade Patterns
China's Major Trading Partners
Major Chinese Trade Commodities
Major Long-Term Challenges Facing the Chinese Economy
China's Incomplete Transition to a Market Economy
Industrial Policies and SOEs
A State-Dominated Banking Sector, Excess Credit, and Growing Debt
Environmental Challenges
Corruption and the Relative Lack of the Rule of Law
Demographic Challenges
Economic Goals of the 19 th Party Congress of the Communist Party
China's Belt and Road Initiative
Made in China 2025
Challenges to U.S. Policy of China's Economic Rise
Footnotes

Content: It subsequently raised tariffs by 25% on $250 billion worth of imports from China, while China increased tariffs (ranging from 5% to 25%) on $110 billion worth of imports from the United States. Such measures have sharply decreased bilateral trade in 2019. On May 10, 2019, President Trump announced he was considering raising tariffs on nearly all remaining products from China. A protracted and escalating trade conflict between the United States and China could have negative consequences for the Chinese economy. China’s growing global economic influence and the economic and trade policies it maintains have significant implications for the United States and hence are of major interest to Congress. While China is a large and growing market for U.S. firms, its incomplete transition to a free-market economy has resulted in economic policies deemed harmful to U.S. economic interests, such as industrial policies and theft of U.S. intellectual property. This report provides background on China’s economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China’s economic rise for the United States.