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This paper aims to conceptually argue that China's trade surplus with the USA is good by clarifying its fundamental forces from specific perspective.

China's trade surplus with the USA is simply the result of comparative advantage under the background of international intra‐product specialization. Being the consequence of global resources optimization allocation, China's trade imbalance, including trade surplus with the USA, is certainly a win‐win game in international trade.

There are strong reasons to believe that China's trade surplus with the USA is beneficial to both China and the USA.

The forces causing China's trade surplus with the USA are complex and multiple different conclusions may be reached from different perspectives. This paper argues that one of the fundamental forces driving China's trade surplus with the USA is international intra‐product specialization, and from this perspective, it can help us understand that China's trade surplus with the USA is good for both nations to some extent.

As after the Second World War, the USA today plays a dominant role in the world following the end of the Cold War. Since 1989, and up to this day, two main theories of history's unfolding, the circular view and the linear view, clash as far as the future role and position of the USA is concerned. On the one hand, Paul Kennedy's The Rise and Fall of the Great Powers (1987) and advocates of the circular theory predict the decline of the USA, as history has shown that all empires that have risen have ultimately fallen. On the other hand, advocates of the linear theory, such as Nye and Fukuyama, postulate the continuation of USA leadership in the world and the inevitable spread of liberalism sooner or later. Both views, however, are mechanical and deterministic. The alternative is the realization that global challenges can only be met globally by global actors.

Describes how, in response to a weakened market share, the USA sponsored the White House conference on travel and tourism which was held in October 1995. A highly successful event, the conference proposed strategies and tactics which encourage international travel to the USA. Suggests that, on the one hand, this conference points to future increased competition which the USA will exert within the international tourism industry. On the other hand, believes the findings and suggestions of the conference may be useful to the European travel and tourism industry as it forges tactics for its own future growth.

Trade relations between China and the USA have been marked by conflict, especially since China’s membership in the World Trade Organization (WTO). These conflicts have been analyzed from a variety of perspectives, including the loss of jobs in the USA due to Chinese imports, competition in high technology sectors and the balance of trade. Conceptual frameworks have employed models of domestic differences as well as models of international power distribution. Among domestic differences examined are the existence of state-owned enterprises in China compared to the domination of the USA economy by private firms, the large role of the Communist Party in China and the influence of labor and environmental and labor groups in the USA. Power distribution theories focus on the systemic effects of the distribution of power on trade openness and on the pattern of intra-bloc versus between-bloc trade. This paper aims to examine the role of macroeconomic policy factors in China and the USA, in particular, the role of national patterns of savings, investment and consumption (both private and government). The paper concludes that insofar as the balance of trade is an important component of the trade conflict, domestic macroeconomic factors continue to be important. The resolution of the conflict will have to take into account the respective macroeconomic policies of China and the USA.

The design is an analytic case study of US–China trade relations with a particular focus on the balance of trade. The conceptual framework employed involves an analysis of macroeconomic policy categories, especially the overall pattern of savings (household, firm and government), investment and consumption. Process tracing over time since China's membership in the WTO is carried out with an eye toward the relationship between the balance of trade and macroeconomic policy.

The main findings are that there is a strong relation between the respective macroeconomic policies of the USA and China and their trade relations. The domestic political economy of the USA encourages consumption and a low rate of savings. The opposite is true of China where household income is low by design and national savings are high. China depends on the USA to consume what is not consumed domestically. The USA depends on Chinese imports for additional consumption encouraged by its low rate of savings. The two economies are locked in a mutual dependence.

Key research implications are that there should be more focus on domestic macroeconomic policies since these are the root causes of the trade imbalance. This is not to say that trade frictions centering on jobs, subsidies and competition in high technology are unimportant. However, without the resolution of differences in the management of macroeconomic policies, trade conflicts between the USA and China will continue.

Practical implications are huge, in some ways much more important than the academic implications. Macroeconomic policy differences in savings, investment, government spending, taxation and infrastructure are important. Furthermore, there are available tools in both China and the USA to manage the macroeconomy, particularly, monetary and fiscal policy.

One implication of this paper is that satisfaction or dissatisfaction of workers is dependent on income distribution which in turn affects trade. Treatment of people in different socioeconomic categories, such as the elderly, the young, and those at working age are a function of macroeconomic policies.

Many people have written about macroeconomics. It is a conventional subfield of economics. The originality of this paper lies in its advocacy of a shift of focus and attention and in the argument that traditional macroeconomics is related to trade. Despite its importance, macroeconomics has not been the center of attention for most political scientists, though economists have made it more central.

Purpose: The purpose of this study is to examine how leading a childhood characterized by transnational mobility affects youths’ understanding of and relationship to their ethnic identity.

Study approach: This study examines the effects of transnational mobility on ethnic identity by focusing on the specific case of Indian Americans who grew up in the USA and Bangalore, a city in southwest India, before relocating to the USA for college. The analysis for this chapter comes from semi-structured, in-depth interviews with 20 transnational Indian American youth.

Findings: The data analysis reveals that by spending part of their childhood in India, transnational Indian American youth were able to learn more about their Indian ethnic identity, which helped them resolve issues related to their status as an ethnic minority in the USA, reframe how they define their ethnic identity, and reevaluate the status of their ethnic identity relative to their counterparts in the USA.

Originality: This study focuses on the unique case of Indian American youth who had a childhood characterized by transnational mobility. As such, this work contributes to the literature on children and youths’ transnational mobility through its focus on the migration patterns of relatively elite and socially privileged children and youth. Additionally, it adds to our understanding of the effects of migration between the USA and India by addressing how these processes affect children and youth. Last, it adds to the literature on Indian Americans by focusing on an understudied subpopulation within this group. The study motivates future research on the diversity that exists among transnationally mobile Indian American children and youth.

Long-term interest rates of small open economies (SOE) correlate strongly with the USA long-term rate. Can central banks in those countries decouple from the United States? An estimated Dynamic Stochastic General Equilibrium (DSGE) model for the UK (vis-á-vis the USA) establishes three structural empirical results: (1) Comovement arises due to nominal fluctuations, not through real rates or term premia; (2) the cause of comovement is the central bank of the SOE accommodating foreign inflation trends, rather than systematically curbing them; and (3) SOE may find themselves much more affected by changes in USA inflation trends than the United States itself. All three results are shown to be intuitive and backed by off-model evidence.