Analysis of Sino-US Cultural Trade Deficit

With the development of economic globalization, cultural industry as a sunrise industry plays a more and more important role in the international economy. International cultural trade is thriving under this trend. China as a traditional trading power, its cultural trade is also developing rapidly. As we know, the United States is most developed countries, so Sino-US trade relationship is one of the most important bilateral trade relationships in the world today. As opposed to continuing Sino-U.S. trade surplus in goods, culture trade has always been deficit, which is not commensurate to the role of China in the world. This is a question worthy of further study. In this paper, we study the current situation of Chinese cultural trade. By regression analysis, we find the factors affecting cultural trade. What's more, we analyze the causes of the Sino-US cultural trade deficit. Finally, we conclude that the international competitiveness of Chinese cultural trade is still weak, and the cultural industry is still in an inferior position in the international market, but, hopefully the Sino-U.S. trade deficit has a trend to narrow.