An appraisal of strategic alliances in global trade and their influence on economic growth: A study of US–China economic relations
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- Table of Content: Available
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- NGN 5000
Background of the Study:
Strategic alliances in global trade, particularly between major economies such as the United States and China, have a profound impact on economic growth worldwide. These alliances are characterized by trade agreements, technology transfers, and joint ventures that foster economic integration and innovation. In recent years, US–China economic relations have significantly influenced global trade dynamics, driving shifts in production patterns, capital flows, and market competitiveness (Thompson, 2023). This study examines the role of strategic alliances in shaping economic growth by analyzing the bilateral economic relationship between the US and China. It explores the mechanisms through which these alliances stimulate technological advancement, improve supply chain efficiencies, and generate mutual economic benefits. The research employs quantitative data analysis and qualitative case studies to evaluate the outcomes of these strategic partnerships. It also addresses challenges such as trade imbalances, geopolitical tensions, and policy uncertainties that can undermine the stability of global trade relations. By providing a comprehensive assessment, the study aims to offer insights into how strategic alliances can be optimized to promote sustainable economic growth and enhance global prosperity (Martinez, 2024).
Statement of the problem:
Despite the potential benefits of strategic alliances in fostering economic growth, US–China economic relations are fraught with volatility, trade disputes, and geopolitical tensions (Chen, 2023). These challenges often compromise the stability and mutual benefits of the alliance, leading to uncertainty in global markets. This study seeks to investigate these issues and assess how strategic alliances can be managed to maximize economic growth while mitigating adverse impacts.
Objectives of the Study:
To evaluate the influence of US–China strategic alliances on economic growth.
To identify challenges that affect the stability of global trade relations.
To propose strategies for optimizing economic partnerships for sustainable development.
Research questions:
How do strategic alliances between the US and China contribute to economic growth?
What challenges hinder the stability of these alliances?
How can strategic alliances be enhanced to support sustainable global trade?
Significance of the Study:
This study is significant as it critically examines the role of strategic alliances in global trade and economic growth. The findings will inform policymakers and industry leaders on how to navigate complex bilateral relationships, ensuring that trade partnerships foster long-term economic prosperity (Nguyen, 2024).
Scope and Limitations of the Study:
Limited to the topic only.
Definitions of terms
Strategic Alliances: Collaborative partnerships between states or corporations to achieve mutual economic goals.
Economic Growth: The increase in the production of goods and services in an economy.
Global Trade: The international exchange of goods and services.
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