The Curious Economist

Economic news for students

  • Home
  • Micro News
  • Macro News
  • IGCSE Economics
    • Teaching Resources
    • Key Concepts
    • Revision Questions
  • IB Economics
    • IB Economics Teaching Resources
    • Key Concepts
      • Micro
        • Supply and Demand
        • Market Failure
      • Macro
        • Economic Growth and AS/AD
        • Inflation
        • Unemployment
      • Global Economy
        • International Trade
        • Economic Development
    • Revision
      • Case Studies with Questions
      • Revision Lessons
      • Revision Questions
      • Economics Diagrams
        • Externalities
        • Market Structures
        • Economic Growth (AS/AD)
        • Protectionism
        • Exchange Rates
    • Real World Examples
      • RWEs by Topics
      • Real World Examples Top Trumps
    • Exam Technique
      • Intro to the IA
      • Model 15-Markers
      • IB Economics Paper 3 Exam Technique
  • IB Business Management
    • IB Business Management Teaching Resources
    • Revision Activities for IB Business Management
  • AI for Educators
    • The AI Classroom Chronicles
    • Poe for Educators
    • ChatGpt for Educators
    • Perplexity AI for Educators
    • AI ChatBots
  • About
News Ticker
  • [ April 29, 2025 ] Sugar Tax Shake-Up: UK Plans to Target Milkshakes and Dairy Drinks Economic News
  • [ April 21, 2025 ] China’s Economy Grows 5.4% — But Can It Withstand Trump’s Tariff Tsunami? Economic News
  • [ April 15, 2025 ] U.K. Government Seizes Control of British Steel Plant Economic News
  • [ April 10, 2025 ] U.S. Tariffs on China Surge Past 100% as Trump Escalates Trade War – but why? Economic News
  • [ March 28, 2025 ] Can Defense and Housing Turn the Tide on Sluggish GDP Growth in the UK? Economic News
HomeBalance of PaymentsChina US trade tensions relaxing under Biden Administration

China US trade tensions relaxing under Biden Administration

May 12, 2021 TheCuriousEconomist Balance of Payments, Economic Growth, Economic News, The Global Economy Comments Off on China US trade tensions relaxing under Biden Administration

Despite political and economic tensions in recent months (and years!) trade between China and the US, the world’s two largest economies, surged in April showing signs of further global economic recovery as well as improving relations.

Exports from China to the US saw a year-on-year increase of 31% in April. Equating to $42.95 billion worth of goods and services, the export surge was mainly a result of increasing demand for consumer electronics and other high-tech products made in China.

It wasn’t just exports that saw a hike. On the contrary, imports from the US also rose significantly, experiencing a year-on-year increase of 52% to $13.94 billion. This was mainly the result of increased demand in China for integrated circuits and other raw materials.

The upward trajectory of China’s trade with the US is indicative of global trends. April also saw surging increases in Chinese exports to all corners of the world, with the export driven economy continuing their impressive Covid bounce-back. In the first quarter of 2021, the Chinese economy recorded a staggering year-on-year growth rate of 18.3%.

THINK LIKE AN ECONOMIST!

Q1. What was the trade balance between China and the US in April this year?

Q2. Explain what is meant by the phrase “export driven economy”.

Q3. Analyse the possible reasons for why economic growth in China was so high in Q1 2021.

Click here for the source article

Share this:

  • Tweet
  • China
  • CURRENT ACCOUNT
  • ECONOMIC GROWTH
  • Export
  • GLOBAL ECONOMY
  • IGCSE
  • Import
  • net trade balance
  • trade
  • USA
Previous

Ketchup can’t catchup with demand!

Next

State of Ohio to award 5 people $1 million for taking the Covid-19 vaccine

Related Articles

Consumer and Business Behaviour

Soaring Sugar Prices and The Global Economic Impact

November 23, 2023 TheCuriousEconomist Consumer and Business Behaviour, Economic News, Supply and Demand, The Global Economy Comments Off on Soaring Sugar Prices and The Global Economic Impact

The world is currently facing a significant surge in sugar prices, reaching levels unseen since 2011. This escalation, largely due to reduced global supplies following unfavorable weather in key sugar-exporting countries like India and Thailand, […]

Share this:

  • Tweet
Balance of Payments

Nigeria’s Lithium Strategy: More Than Just Mining!

October 20, 2023 TheCuriousEconomist Balance of Payments, Economic Growth, Economic News, Government Policy, The Global Economy Comments Off on Nigeria’s Lithium Strategy: More Than Just Mining!

Nigeria is making strategic moves in the global lithium market. The country has tightened rules around mining its lithium minerals due to the increasing demand from foreign mining companies. The Nigerian government has mandated that […]

Share this:

  • Tweet
Basic Economic Concepts

There could be extreme water scarcity in Egypt this decade

August 7, 2021 TheCuriousEconomist Basic Economic Concepts, Economic Growth, Economic News Comments Off on There could be extreme water scarcity in Egypt this decade

Despite being home to the river Nile, Egypt could face extreme water scarcity in the next decade according to a report by MIT. The report concluded that Egypt will need to import more water than […]

Share this:

  • Tweet

Please follow & like us :)

RSS
Facebook
Facebook
fb-share-icon
Twitter
Visit Us
Follow Me

Recent Posts

  • Sugar Tax Shake-Up: UK Plans to Target Milkshakes and Dairy Drinks
  • China’s Economy Grows 5.4% — But Can It Withstand Trump’s Tariff Tsunami?
  • U.K. Government Seizes Control of British Steel Plant
  • U.S. Tariffs on China Surge Past 100% as Trump Escalates Trade War – but why?
  • Can Defense and Housing Turn the Tide on Sluggish GDP Growth in the UK?
  • PepsiCo Plans $1.95 Billion Poppi Acquisition
  • South Africa Unveils $54.5 Billion Infrastructure Plan to Boost Growth
  • Canada Pulls U.S. Alcohol from Shelves in Retaliation for Trump Tariffs
  • U.S. Economy on Track for Contraction as Spending and Exports Decline
  • India’s Consumer Market Shrinks as Wealth Inequality Deepens

Tags

A-Level aggregate demand AI business behaviour BUSINESSES China Consumer Behaviour CONSUMPTION coronavirus COSTS CURRENT ACCOUNT DEMAND ECONOMIC GROWTH ENVIRONMENT Export externalities FDI fiscal policy gdp GLOBAL ECONOMY Government intervention government policy government spending IGCSE India INFLATION INTEREST RATE investment jobs LABOUR labour market Macroeconomics MARKET FAILURE Microeconomics MONETARY POLICY OIL prices protectionism SDGs SUPPLY Tax trade UK UNEMPLOYMENT USA

Most Read Article

Balance of Payments

Kenya and the US look set to sign a free-trade deal despite Trump’s attacks on global trade

February 7, 2020 Comments Off on Kenya and the US look set to sign a free-trade deal despite Trump’s attacks on global trade

Under President Trump, the US stance towards global trade has become increasingly protectionist, with billions of dollars of tariffs placed on goods from countries all over the world, engagement in a devastating trade war with […]

Share this:

  • Tweet
Economic News

U.K. Government Seizes Control of British Steel Plant

April 15, 2025 Comments Off on U.K. Government Seizes Control of British Steel Plant

It’s a dramatic move—but one the U.K. government believes is essential for national economic security. In an extraordinary step, the government has taken control of British Steel’s Scunthorpe plant under emergency legislation to prevent its […]

Share this:

  • Tweet

SGD News

Economic News

India’s Consumer Market Shrinks as Wealth Inequality Deepens

February 27, 2025 Comments Off on India’s Consumer Market Shrinks as Wealth Inequality Deepens

India’s consumer market is far smaller than its population suggests, with only about 130-140 million people able to spend on non-essential goods, according to a report by Blume Ventures. Despite a population of 1.4 billion, […]

Share this:

  • Tweet

Copyright © 2025 | MH Magazine WordPress Theme by MH Themes