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Kissinger's monumental blunder

His suggested policies benefited China hugely

Topics
United States | China | Chinese economy

Jaimini Bhagwati 



Jaimini Bhagwati

The visit to by Henry Kissinger and Richard Nixon from February 21 to 28, 1972, gradually led to US support for China’s economic revival. The US granted the most-favoured nation status to bilaterally and this privilege was renewed annually. By 1984, the US was China’s largest trading partner. Almost two decades later, the US did not block China’s entry into the World Trade Organisation in December 2001. Surprisingly, the US was content with obtaining circumscribed entry to the for its banking, insurance and telecommunications firms. Over the next two decades, US exports to have incrementally included electrical and optical equipment, vehicles, aircraft and soybeans but invariably China has had a significant surplus in its goods trade with the US.

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First Published: Tue, June 22 2021. 22:45 IST

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