POL101 Introduction to Political Science

Introduction.

Economic institutions and political institutions are different sides of the same coin. Economic institutions directly influence politics of any given state and vice versa. In the world the economic control of the major arenas has brought significant wars among world superior states. As a result of differences in ideological differences it has affected internal diplomatics.In chapter 4, we see this differences in economic strength has caused a lot of differences to the world superiority-whereby new states are taking over world  economic control  from those used to be superior controllers. For instance, Karl Marx in chapter 4 was talking about new economic and political wave that will see communist societies overcoming the capitalist societies in world economic control. This is being witnessed in the 21^st century, where many communist states have dominated world economy to the fullest, His words continues to chapter 8, of the course book-where many roles of communist society are clearly influencing present world and threatening the used to be superpowers like Britain and United States. In my case i will consider US-China trade wars and its effects, roles, symbolic, indications among other effects. Karl Marx, Das Kapital (1867), 1.

Furthermore, in chapter 5 we talked of Democracy and Authoritarian which will be key chapter in Regard of US-China nature of their ruling and governance. This has influence to the current Chinese dominance of the world economy. Will see why the methods of administration in any state or nation state determine its economic and political future. The democrats as they always view on free market economy unlike their authoritarians  -whom  regards state control over the economy have been better placed to advance far than the former [Haven ; Democracy and its critics: Model 1].US has been controlling world economy from the times of world war 1 and 11, including during cold wars, but in the late 20^th century China has stood up to overcome united states in economic growth and  development .[Bachrach, Peter,The theory of democratic Elitism (1667), mode 1ed 2.].

Relationship between United States and China started has got its roots in the 21^st century. The two states have been using strategic interactions between rational decision-making which they use to determine their economics, finances, and diplomacy. China currently rose to economic masters and they producing cheap goods compared to other world states products –this has attracted wide markets all over the world including united states .Echoing words of Joseph Schumpeter, on socialism and capitalism, he once said there will be time when the communist will gain superiority and many states will recognize socialism as the best ideology rather than free market economy. [Joseph Schumpeter, Capitalism, Socialism, and Democracy, 3^rd ed.].China exports to United states such as high –value-added goods, such as machinery, aircrafts, vehicles and electrical devices cannot be replaced by any other exporter. Under the deals done in January 2017, between US and China, Chinese government promised to boast United States imports by over 200 US-dollars above their previous year and strengthens the intellectual property levels. This expressed the best diplomatic relations between US-China relationships. Later, on coming into power, Donald Trump slashed all this agreement with a new trade tarrifs.In reference to lecture 3, this act by Trump was against the international agreement between United States and China. [Alistair; International Security, vol.27 no.4]. In regard to lecture one, on theories characterised by disagreements and debate. Us went ahead and delayed some Chinese tariffs for their imports. This was a tool by United States to continue escalate china as it would increase its size relatively against the US and limit the impacts of American tariffs over the world economy. Several debates and arguments continued during Trumps reign. Trump’s administration used these tariffs to force China make changes on their trade practices –which they regarded as unfair trade practices. According to US this practices might lead to China –United States trade deficits, and they amended US government to take its technology to China for the agreement to continue. In response Chinese government had accused Trump government for what it termed as engagement in nationalist protectionism. [P.Kennedy, The Rise and Decline of Great Powers (1987), model 2.no.1].

January 2020, US-China administrations reached first phase of an agreement after a long tensions even though this did not stop to persist at all. Trumps government advocated on enforcing tariffs to eliminate and terminate the United States trade deficit aiming to promote domestic manufacturing saying- America’s economy was being raped up by its trading partners. Even economists and trade experts to United States did not see this as a threat to their economy. They believed issue was on sustained trade deficits, and this led to a debate over how much their trade deficit was caused by foreign government investors, as well as the policies they could use to reduce this impact if there was any. Trade war as negatively impacted on both the United States and China. In US it has brought:

• Higher prices for consumer goods.
• Difficulties for farmers to acquire equipments and materials for their work.
• Slow economic growth and development.
• Higher cost of living among citizens
  
  

While impacts in China government are;

(i) Slowdown economic growth and development

(ii) Slow industrial output growth

These differences has even caused United states companies shift their supply chains elsewhere in Asia bringing fears and threat that trade wars may lead to United States-China economic falling out. This impact has spread to other countries causing their economic damage, while others have benefited from this through increased manufactured goods to their countries. This economic conflict has led to market instability in the world market and countries are trying to recover these damages. [Kinlings, China does not want to supply to us, Sep2019].

In Conclusion, internationatinally there has been debate to end Trump wars on trying to change China’s trade policies. Many economists and trade specialists have been criticizing this tariffs and the trade war’s negative impact on the world economy. Currently, under Biden United States is reviewing all this instances and is aiming coming up with a new policies in favour of all foreign governments business and trade.[Boak,Josh(5^th,December 2018),AP NEWS.]

References.

.Schumpeter Joseph ed al,

 Capitalism, Socialism, and Democracy:

(The New Economic Era 3^rd ed,), 1-340. 

.Haven,

 Democracy and its Critics:

(Chicago: Yala University Press, 1989), models (1, 2, ed3). 

.Karl Marx,

 Das Kapital (1867):

(The Rise of Communism, ed.1), 1... 

.Smith, and Adam,

An Inquiry to Nature and causes of the wealth of Nations, Edwin

Cannon, ed. (Chicago: Chicago University Press (1976), 25-42.

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