Fueling concerns over U.S.-China economic imbalances and yet again questioning the relationship between both superpowers. August 2010, China Becomes World’s Second-Largest Economy. China and surpasses Japan as the world’s second-largest economy after it is valued at $1.33 trillion for the second quarter of 2010, slightly above Japan’s $1.28 trillion for that year. Which is a ridiculous amount of money and brings concern to the United States. China is on track to overtake the United States as the world’s number one economy by 2027, according to Goldman Sachs chief economist Jim O’Neill.
China’s success comes from the U.S. and all the help we’ve given them over the years for China to recover and deal with their issues. In an essay for Foreign Policy, U.S. Secretary of State Hillary Clinton outlines a U.S. pivot to Asia. Clinton’s call for increased investment”diplomatic, economic, strategic, and otherwise”in the Asia-Pacific region is seen as a move to counter China’s growing clout. U.S. President Barack Obama announces the United States and eight other nations have reached an agreement on the Trans-Pacific Partnership, a multinational free trade agreement.
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The U.S. trade deficit with China rises from $273.1 billion in 2010 to an all-time high of $295.5 billion in 2011(U.S. Relations With China,Timeline). The increase accounts for three-quarters of the growth in the U.S. trade deficit for 2011. In March, the United States, the EU, and Japan file a request for consultations with China at the World Trade Organization over its restrictions on exporting rare earth metals. China is not happy with this and agreements about trade continue to grow. U.S. President Barack Obama hosts Chinese President Xi Jinping for a shirt-sleeves summit in a bid to build a personal rapport with his counterpart and ease tense U.S.-China relations. Obama and Xi also vow to establish a new model of relations, a nod to Xi’s concept of establishing a new type of great power relations for the United States and China.
February 9, 2017 Trump Affirms One China Policy After Raising Doubts. U.S. President Donald J. Trump says he will honor the One China policy in a call with Chinese President Xi Jinping.
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