China and the U.S. will mutually benefit from deeper cooperation over the next decade
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China and the U.S. will mutually benefit from deeper cooperation over the next decade

New York City : NY : USA | Jun 24, 2013 at 10:43 AM PDT
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Creating A Contract - How To Ensure They Are Mutually Beneficial

China and the U.S. can mutually benefit from a deeper economic relationship over the next decade, along with the U.S. economic recovery and China's middle class booming bilaterally says a study published in a forum held in New York on Tuesday.

China and the U.S. can mutually benefit from a deeper economic relationship over the next decade, along with the U.S. economic recovery and China's middle class booming says a study published in a forum held in New York on Tuesday. "

This study comes at a critical time for the bilateral relationship, a moment that either the two countries can continue the unprecedented cooperation, or can be diverted by the growing frictions and misunderstandings that threaten to complicate the future development of this key economic partnership, "said Tung Chee Hwa, founder of the China Exchange Foundation-USA (CUSEF, English acronym), author of the study.

Tung is also the vice president of the National Committee of the People's Political Consultative Conference Chinese.

The former Secretary of State Henry Kissinger also told the forum that "our countries have serious problems at home, at a time which are moving into a new period, our countries are facing a new international situation, but our two countries have understand that we need a model of cooperation. now need to define it. "

This study explores the potential areas for increased bilateral cooperation and one of their findings is that the U.S. can perform a significant infrastructure construction in the next 10 years,

Chinese investors and their savings surplus could provide funding for these projects getting an attractive return. , the study authors include Nobel Prize in Economics Dr. Michael Spence, the president of the Council of Economic Advisers Dr. Michael Boskin, and President of the Global Institute Fung, Dr. Victor Fung. Spence said that nothing would be better for the Chinese economy a healthy European economy and the recovery in the U.S., in the same way that Europe and the U.S. would benefit from high growth in China.

According to the study, it is expected China's middle class that reaches 630 million people in 2022, an increase of 230 million from 2012. was expected to 2022, U.S. exports to China generate 456,000 million, and more than 2.54 million jobs work in the U.S.. On the other hand, the U.S. can get 35.000 billion and create 610,000 jobs by 2022 if the restrictions are lifted on visas, allowing entry to more than 10 million Chinese tourists to visit the country each year from the 1.1 million who visited in 2011.

The report also expects that the U.S. remains the world's largest economy in 2022, with a GDP of 21.1 billion dollars, while China's GDP will increase to EUR 17 billion.

The authors recommend

  • that both countries launch a study on the feasibility and benefits of a bilateral free trade agreement, adding that the study should be completed in a period of one year.
  • Moreover, the U.S. and China should complete negotiations on a bilateral investment treaty in a year also.
  • In another recommendation, the report suggests that China establish a special national court to deal exclusively with intellectual property disputes. 's CUSEF was established in Hong Kong in 2008 intended to improve communication and understanding between the peoples of China and the U.S..
fibonnaci is based in Guelph, Ontario, Canada, and is a Reporter on Allvoices.
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