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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Case-4

Case-4

Q 1. How do the US economy, US firms, and consumers in the United States like you benefit from trade with China? 2. How are the US economy, US firms, and consumers in the United States like you hurt from trade with China?

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Answer: International trade is the oldest and still the most important building block of international business. There must be economic gains from trade. More importantly, such gains must be shared by both sides. International trade should be win-win. By trading with China, US economy is being benefited. End users are also beneficiary of this. Chinese exports win US markets because they deliver value, are rare, and possess hard-to-imitate attributes. As we told earlier, international trade is a win–win game, active trading has not only made China richer, but also made us richer. Overall, US-China trade supports approximately 2.6 million US jobs and adds 1.2% to US GDP.