The Impact of the Trade War on Manufacturing and Workers in China and the United States

Abstract

Nowadays, in global level, United States and China are widely accepted as the first and second largest economies. By calculating the Gross Domestic Production (GDP) in nominal terms, we can observe that in 2022 the United States is still the most powerful economy with a GDP at $24.79 trillion while the GDP of China follows afterwards at $18.46 trillion which is far ahead of Japan, the third largest economy with a GDP of $5.38 trillion. Moreover, these two countries dominate the manufacturing in the world, which takes a great proportion of economic impetus due to flexible industrial policies and effective investments from governments and enterprises.

Identifying Threshold Level of Urbanization for Economic Growth in Developing and Developed Asian Economies

“…,Zhao (2023),Liang et al (2023),Shaban et al (2022), DiClemente et al (2021), andArouri et al (2014)]. Results confirmed that urbanization is crucial to enriching the growth in both developed and developing countries.…”

“…On the other hand, in rural areas workers do not have access to the basic facilities and work for lower wages, hence their productivity remains low resultantly the output per unit decreases. Therefore, relocation of labor from one towards another sector acts as a driving force for Open Access enhanced productivity (Zhao, 2023). Likewise, Arif (2005) maintained that people migrate to acquire health facilities and improve their standard of living, hence urbanization is one of the vital elements to enjoy the privileges.…”