This collection of original essays highlights the implications of China's economic transition since 1978 for Sino-American business and trade. Each chapter assesses the implications of China's economic and trade reforms from a different perspective, but the thread running through all of them is a conviction that the government of China and Chinese enterprises will have to strengthen their capacity to compete more effectively in the global economy if they are to be successful in expanding trade and business with the United States. Government and business leaders in both countries will face important challenges in adjusting to changing global trade alliances if they are to be more effective trading partners. Contributors review the changes in economic and trade policies in China, trace the political roots of economic reforms, assess the ability of Chinese companies to enter U.S. markets, explore the management improvements needed in Chinese enterprises, examine the differences between Chinese and North American manufacturing enterprises, and outline the changes in the world economy to which both American and Chinese business and political leaders will have to adjust. The book begins with an introduction to the major issues facing China in transforming its economy and trade relationships with the United States and in strengthening its competitive position in the global economy. Contributors explore the political rationale for the economic changes that have taken place in China and provide a framework for understanding how China's trade policies have evolved since 1978. They trace the evolution of China's trade policies, especially as they apply to trade with the United States, and explore the remaining barriers to and opportunities for trade expansion between the two countries and the strategies that Chinese enterprises will have to adopt in order to enter U.S. markets or form joint ventures with U.S. companies. Trends in three major industries—textiles, machine tools, and medical supplies—illustrate the opportunities and requirements for Chinese enterprises to be competitive. This book will be of interest to students of international business, economics, trade and investment, China's modern economic and political history, and comparative management, and to business executives, government officials, and other professionals involved in trade and investment with China.