Author Description

The relation between China and the United States is arguably the most important bilateral relation in the world today. The U.S. and China are respectively the largest and the second largest economies in the world. They are also respectively the largest and the second largest trading nations in the world as well as each other's most important trading partner. If China and the U.S. work together as partners towards a common goal, many things are possible. However, there exist significant friction and potential conflict in their economic relations. The large and persistent U.S.-China bilateral trade deficit is one of the problems.It is essential to know the true state of the China-U.S. trade balance before effective solutions can be devised to narrow the trade surplus or deficit. The impacts and potential impacts of the 2018 trade war between China and the U.S. on the two economies are analysed and discussed. The longterm forces that underlie the economic relations between the two countries beyond the 2018 trade war are examined. In this connection, how a "new type of major-power relation" between the two countries can help to keep the competition friendly and avert a war between them is explored.~~~~~~~~Lawrence J. Lau's timely The China-U.S. Trade War and Future Economic Relations is full of careful analysis, penetrating insight and helpful suggestions from the world's preeminent economist on this relationship.—Michael J. BoskinTully M. Friedman Professor of Economics, Stanford UniversityFormer Chair, U.S. President's Council of Economic AdvisersThis sober and systematic study of U.S.-China trade relations and of technological development in the two countries is particularly timely. Lawrence Lau is one of the world's foremost economists working on these issues.—Dwight H. PerkinsHarold Hitchings Burbank Professor of Political Economy, EmeritusFormer Chair, Department of Economics, Harvard UniversityThis is a timely and penetrating analysis of the China-U.S. trade a