The Causes and Methods of Competition between the First World Economies in Asia-Pacific Region

Abstract

The People’s Republic of China devalued yuan; this fall the United States of America signed the agreement on establishing of the Trans-Pacific partnership. Obviously, the relations between Beijing and Washington, which are already complicated, aggravated. The aim of the article is to review the reasons and methods of rivalry of two largest economies of the world, analysis of the influence of the specified states on the world economy in general. Lately, the thesis, that in today's world the new round of confrontation between "The Crouching Tiger" and "The Awakened Eagle" had begun, spread in various economic sources. Leaders of both countries seek to get support of old allies and look for the new. The mentioned collision of interests of the USA and China will undoubtedly define the direction and an order of development not only for the Pacific Rim, but for the whole world. This determines the relevance of stated purpose for writing the article. When writing the article, theoretical methods of empirical research, concerning aspects of realization of the foreign-economic and investment policy of the USA and China were used. On the basis of method of comparisons and analogies the most significant directions of financial policy of these countries, prospects of US dollar and the Chinese renminbi as leading world currency were taken into consideration. The most probable scenarios for development of relationship between these states based not on competitive contradictions, but on complementarity of the American and Chinese economies were defined.

DOI: 10.5901/mjss.2016.v7n2s1p346