Summary

The book written by A. Nagorny and A. Parkansky mainly covers the period of 1949 up to 1981 and gives a comprehensive analysis of US economic relations with the PRC.

Readers will find a detailed account of major steps Washington has undertaken in this area. The development of US official course is clearly divided into two stages. One of them was the period of embargo during which the United States spared no effort to undermine the newly formed socialist state. The other is characterized by a fundamental shift carried out under the impact of general reassessment of US policy towards China on the basis of growing antisovietism of Peking leadership. Thus, the United States economic policy in relation to China has always been a sideline of American imperialism's general strategy. It has been changing in conformity with the broad needs of US foreign policy.

The authors analize the structure and dynamics of Sino-American trade and lies in science and technology. In the early 1980's both countries have attained a rather high level of cooperation and created a comprehensive system of bilateral relations. These tendencies could be viewed as normal and regular if not for their strong antisoviet character.

Authors come to the conclusion that despite strong complementary interests and impulses for further rapproachment there are serious problems and contradictions that hamper the process of evolving cooperation: long-range incompatible political and strategical goals, marked differences at the levels of economic development, Peking's shortage of hard currency reserves, etc.