The main task of this thesis is to investigate economic implications of U.S.- China trade. The study period covers from 1972 to 1992. Data are available from International Financial Statistics, Survey of Current Business, Statistical Yearbook of P.R.China. Various hypotheses are employed to explain the basis and gain of trade, the impact of trade on both economies, and the major determinants of bilateral trade flows. This thesis contains five parts: I. Introduction; II. Outlook; III. Theoretical Analysis; IV. Empirical Study; and V. Conclusion. The major findings of this thesis are that both countries have gained advantages from trade and have also faced some unpleasant problems; several widely recognized theories serve as good approaches to understand these issues; the time series distributed lag models are helpful in explaining the determinants of trade flows.

Card from Charlyne Creger to Rigdon Edwards discussing the number of remaining WASP, his attendance to the Silver Wings reunion, and his travels in the near future. On the cover is a painting by Winslow Homer titled "The Reaper".

Interview with Colonel Columbus Savage, an Army Air Corps veteran (16th Bomb Squadron) and a survivor of the Bataan Death March, concerning his experiences as a prisoner-of-war of the Japanese during World War II. Savage discusses Bataan Airfield (1941-1942), the fall of Bataan and his capture, the Bataan Death March, Camp O'Donnell (1942), Cabanatuan (1942), Davao Penal Colony (1942-1944), Bilibid Prison in Manila (1944), the hell ship to Japan (1945), Mojo and Fukuoka, Kyushu (1945), Mukden, Manchuria (1945), and his liberation by Russian troops. Appendix includes a photocopy of an article from the May 24, 1991 edition of the Carswell Sentinel, titled, "Warrior received belated honors" by MSgt. Dick Hodgson.