Lowering Trade, Investment Barriers to Bring Huge Benefits for US, China

MOSCOW, October 17 (RIA Novosti) — The United States and China should consider lowering trade and investment barriers, according to new research conducted by the Peterson Institute for International Economics.

"The study estimates that US national income would rise by about $1.25 million for every job lost. Major foreign policy and national security benefits would accrue as well," a press release published on the Institute's website Thursday said.

The study argues that a China-United States Trade and Investment Agreement (CHUSTIA) would result in the expansion of Chinese gross domestic product by about $300 billion per year.

According to the study, closer economic cooperation could bring about positive change in the political and security matters.

The new study, "Bridging the Pacific: Toward Free Trade and Investment Between China and the United States," analyzes the economic and foreign policy benefits of lowering trade and investment barriers between the two countries, and recommends several strategies to strengthen their cooperation.