13 Nov Unit 5_MT220_Discussion response
13787Respond or elaborate on the response below:
China and Mercantilism: Analyzing Trade Policies
China’s economic policies can be seen as a modern form of mercantilism. Mercantilism is an old idea where countries try to make more money by selling more goods to other countries than they buy. This leads to a trade surplus, which means exporting more than importing (Hill, 2022). In recent years, critics have suggested that China has followed this strategy by keeping its currency value low and promoting exports while limiting imports. This is often called “neo-mercantilism.”
Many people believe that the United States and other countries need to think carefully about how they trade with China. If China is acting like a neo-mercantilist country, then the U.S. should work on leveling the playing field. This could mean creating fair trade agreements or looking for other countries to trade with that won’t manipulate policies. It is essential to support American workers and businesses while ensuring trade relations are beneficial for everyone involved.
Overall, understanding China’s economic approach and its impact on global trade can help the United States and its partners adapt their strategies for a fairer trade environment (Ponnuru et al., 2020).
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