China and Its Role in the Decline of American EconomicPower

Document Type : Original Article

Author

, Assistant Professor, Department of Economy, College of Economy, Management, and Administrative Sciences,Semnan University, Semnan, Iran

Abstract

The rapid and steady growth of China's economy has led to profound changes in the world economy and the creation of new equations in the political, economic and cultural spheres at the international level. One of the most important of these developments is the impact of China Economy on US economic power in balance and the global economy as a whole. This article addresses the question of whether China's economic developments have affected US economic power. Research findings show that China's economy has been able to reduce the US economic power by capturing a higher share of world GDP, along with increasing its exports to various countries and overtaking the US, as well as creating a severe trade deficit for the US economy.  From this perspective, the US-China trade war can be justified and interpreted, and the continuation of this economic war could lead to a losing game for both countries. The US economy is at a crossroads between accepting China's economic power and reducing its influence or accepting a losing game, which in any case will be an unpleasant end for the US economy.

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References

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American Strategic Studies
Volume 1, Issue 3 - Serial Number 3
autumnQuarterly
December 2022
Pages 67-84

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History

  • Receive Date: 07 August 2021
  • Revise Date: 03 September 2021
  • Accept Date: 17 August 2021

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