Download or read book The USA and China The return to protectionism written by Steve Kamundi and published by GRIN Verlag. This book was released on 2022-07-07 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2021 in the subject Economics - International Economic Relations, grade: 1,7, University of Paderborn, language: English, abstract: Since 2018, protectionism has made its way into global politics. This paper analyzes what has happened since then and the consequences of the trade war between the US and China unleashed by Donald Trump's administration. The trade war is examined from a game-theoretical perspective and furthermore, an assessment regarding future implications is also given. In 2018, the administration of then-president Donald Trump put tariffs on Chinese products. This has provoked a backlash by the Chinese government in form of tariffs on American products, and following measures and countermeasures conducted by both sides quickly escalated into a trade war. “Trade wars are good, and easy to win”. These were the words president Trump confidently tweeted in March 2018. This paper is going to take a closer look at a situation which turns out to be a lot more complex than this tweet implicates. Trade war between the two biggest economies on earth unsurprisingly has a lot of consequences which are going to be examined in more detail. Furthermore, this paper will show that implications of this conflict exceed economic boundaries.

Download or read book The Collapse of Global Trade Murky Protectionism and the Crisis written by Richard E. Baldwin and published by . This book was released on 2011-03 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.

Download or read book Tariff Passthrough at the Border and at the Store Evidence from US Trade Policy written by Alberto Cavallo and published by International Monetary Fund. This book was released on 2019-11-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers, and exporters. We start by documenting that the tariffs were almost fully passed through to total prices paid by importers, suggesting the tariffs' incidence has fallen largely on the United States. Since we estimate the response of prices to exchange rates to be far more muted, the recent depreciation of the Chinese renminbi is unlikely to alter this conclusion. Next, using product-level data from several large multi-national retailers, we demonstrate that the impact of the tariffs on retail prices is more mixed. Some affected product categories have seen sharp price increases, but the difference between affected and unaffected products is generally quite modest, suggesting that retail margins have fallen. These retailers' imports increased after the initial announcement of possible tariffs, but before their full implementation, so the intermediate passthrough of tariffs to their prices may not persist. Finally, in contrast to the case of foreign exporters facing US tariffs, we show that US exporters lowered their prices on goods subjected to foreign retaliatory tariffs compared to exports of non-targeted goods.

Download or read book The Trade Wars of the USA China and the EU written by Altug Günar and published by Rowman & Littlefield. This book was released on 2021-07-29 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book makes an effort in investigating the present and future developments in the global economy, after the 2008 global financial and economic crisis. The results of the global crisis were devastating and destructive all around the world. The USA economy took significant damage when the crisis went into Europe, and it turned out a foreign debt crisis influencing European economies, including Iceland, Ireland, Greece, Spain, Italy. Consequently, the economic crises gave impetus to social uprisings and protest, and this led to giving populist and nationalist politicians the advantage to take the control of government. President Trump's “First USA Policy,” then, European populist and anti-EU politicians including, Le Pen, Wilders, Salvini, and Nigel Farage attack the post-war global economic order and structures like the European Union to vanish the full benefits and wealth of globalization process. After the crisis, the global economy evolved into protectionism, depending on the coming to power of populist leaders. President Trump entered into a great trade war with the European Union and China, later on. In this frame, the study examines the effects of populism/protectionism, which has upsurged after the 2008 crisis, on the global economy in various dimensions.

Download or read book Trade Wars are Class Wars written by Matthew C. Klein and published by Yale University Press. This book was released on 2020-01-01 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.

Download or read book What s Wrong with Protectionism written by Pierre Lemieux and published by Rowman & Littlefield. This book was released on 2018-08-27 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Putting tariffs on imported goods or setting other barriers to international trade can be tempting for politicians. They assume that many of their constituents believe that free trade is not fair trade and that other countries aren’t playing by the rules. This belief makes it easy for industry leaders to demand protection for their businesses and their workers—to “put America first.” But Americans should resist the siren calls of protectionism. In this highly relevant protectionism primer, Pierre Lemieux shows what can happen if they don’t. As the author demonstrates, trade between any two countries is fair for the same reasons as exchange between two individuals: it is to the benefit of both. Lemieux carefully refutes the arguments of those who would curtail Americans’ access to the benefits of international commerce—from the claim that we can boost economic growth by reducing imports to the belief that free trade leads to “shipping jobs overseas.” Yes, manufacturing jobs are declining in this country and have been since the 1950s. But, as Lemieux points out, that’s in large part because Americans are making more advanced products more efficiently—that’s our comparative advantage. And this is happening as less-developed countries are producing more labor-intensive, low-tech goods—that’s their comparative advantage. All parties to a trade benefit. Lemieux shows how free trade improves the lives of American consumers, especially the poor. The narrow agenda of the protectionists—to protect a small minority of producers at the expense of millions of their fellow Americans—is the wrong path for an increasingly diverse and complex economy. This concise primer shows you why.

Download or read book China and the WTO written by Petros C. Mavroidis and published by Princeton University Press. This book was released on 2021-01-05 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: "China's accession to the World Trade Organisation (WTO) in 2001 was hailed as the natural conclusion of a long march that started with the reforms introduced by Deng Xiaoping in the 1970s. However, China's participation in the WTO since joining has been anything but smooth, and its self-proclaimed "socialist market economy" system has alienated many of its global trading partners - as recent tensions with the United States exemplify. Prevailing diplomatic attitudes tend to focus on two diametrically opposing approaches to dealing with the emerging problems: the first is to demand that China completely overhaul its economic regime; the second is to stay idle and accept that the WTO must accommodate different economic regimes, no matter how idiosyncratic and incompatible. In this book, Mavroidis and Sapir propose a third approach. They point out that, while the WTO (as well as its predecessor, the General Agreement on Tariffs and Trade [GATT]) has previously managed the accession of socialist countries or of big trading nations, it has never before dealt with a country as large or as powerful as China. Therefore, in order to simultaneously uphold its core principles and accommodate China's unique geopolitical position, the authors argue that the WTO needs to translate some of its implicit legal understanding into explicit treaty language. Focusing on two core complaints - that Chinese state-owned enterprises (SOEs) benefit from unfair trade advantages, and that domestic companies (both private as well as SOEs) impose forced technology transfer on foreign companies as a condition for accessing the Chinese market - they lay out their specific proposals for successful legislative amendment"--.

Download or read book From Mao to Market written by Andrew H. Wedeman and published by Cambridge University Press. This book was released on 2003-07-10 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Andrew Wedemen argues that China succeeded in moving from a Maoist command economy to a market economy because the central government failed to prevent local governments from forcing prices to market levels. Having partially decontrolled the economy in the early 1980s, economic reformers baulked at price reform, opting instead for a hybrid system wherein commodities had two prices, one fixed and one floating. Depressed fixed prices led to 'resource wars', as localities battled each other for control over undervalued commodities while inflated consumer goods prices fuelled a headlong investment boom that saturated markets and led to the erection of import barriers. Although local rent seeking and protectionism appeared to carve up the economy, in reality they had not only pushed prices to market levels and cleared the way for sweeping reforms in the 1980s, they had also pushed China past the 'pitfalls' of reform that entrapped other socialist economies.

Download or read book Chinese Foreign Policy written by Marc Lanteigne and published by Routledge. This book was released on 2015-12-22 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This updated and expanded 3rd edition of Chinese Foreign Policy seeks to explain the processes, actors and current history behind China’s international relations, as well as offering an in-depth look at the key areas of China’s modern global relations. Among the key issues are: The expansion of Chinese foreign policy from regional to international interests China’s growing economic power in an era of global financial uncertainty Modern security challenges, including maritime security, counter-terrorism and protection of overseas economic interests The shifting power relationship with the United States, as well as with the European Union, Russia and Japan. China’s engagement with a growing number of international and regional institutions and legal affairs The developing great power diplomacy of China New chapters address not only China’s evolving foreign policy interests but also recent changes in the international system and the effects of China’s domestic reforms. In response to current events, sections addressing Chinese trade, bilateral relations, and China’s developing strategic interest in Russia and the Polar Regions have be extensively revised and updated. This book will be essential reading for students of Chinese foreign policy and Asian international relations, and highly recommended for students of diplomacy, international security and IR in general.

Download or read book Handbook of Deep Trade Agreements written by Aaditya Mattoo and published by World Bank Publications. This book was released on 2020-09-23 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).

Download or read book America s Protectionist Takeoff 1815 1914 written by Michael Hudson and published by . This book was released on 2010-03-01 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contribution of the American School of Political Economy (1848 to 1914) to America's wildly successful industrial development has disappeared from today's history books. American protectionists and technology theorists of the day were concerned with securing an economic competitive advantage and conversely, with offsetting the soil depletion of 19th century America's plantation export agriculture. They also emphasized the positive effect of rising wage levels and living standards on the productivity that made the American economic takeoff possible. The American School's "Economy of High Wages" doctrine stands in contrast to the ideology of free traders everywhere who accept low wages and existing productivity as permanent and unchanging "givens," and who treat higher consumption, health and educational standards merely as deadweight costs. Free trade logic remains the buttress of today's financial austerity policies imposed on debtor economies by the United States, the World Bank, and the International Monetary Fund. By contrast, the lessons of the American School of Political Economy can provide a more realistic and positive role model for other countries to emulate - what the United States itself has done, not what its condescending "free-trade" diplomats are telling them to do. The lesson is to adopt the protectionist policies of the late 19th and early 20th centuries that made America an economic superpower. Michael Hudson (Distinguished Professor of Economics, University of Missouri, Kansas City) is a frequent contributor to The Financial Times, Counterpunch, and Global Research.

Download or read book Clashing Over Commerce written by Douglas A. Irwin and published by University of Chicago Press. This book was released on 2017-11-29 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs

Download or read book Death by China written by Peter Navarro and published by Pearson Prentice Hall. This book was released on 2011-05-05 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's most populous nation and soon-to-be largest economy is rapidly turning into the planet's most efficient assassin. Unscrupulous Chinese entrepreneurs are flooding world markets with lethal products. China's perverse form of capitalism combines illegal mercantilist and protectionist weapons to pick off American industries, job by job. China's emboldened military is racing towards head-on confrontation with the U.S. Meanwhile, America's executives, politicians, and even academics remain silent about the looming threat. Now, best-selling author and noted economist Peter Navarro meticulously exposes every form of "Death by China," drawing on the latest trends and events to show a relationship spiraling out of control. Death by China reveals how thousands of Chinese cyber dissidents are being imprisoned in "Google Gulags"; how Chinese hackers are escalating coordinated cyberattacks on U.S. defense and America's key businesses; how China's undervalued currency is damaging the U.S., Europe, and the global recovery; why American companies are discovering that the risks of operating in China are even worse than they imagined; how China is promoting nuclear proliferation in its pursuit of oil; and how the media distorts the China story--including a "Hall of Shame" of America's worst China apologists. This book doesn't just catalogue China's abuses: It presents a call to action and a survival guide for a critical juncture in America's history--and the world's. Publisher's note - in this book various quotes and viewpoints are attributed to a 'Ron Vara'. Ron Vara is not an actual person, but rather an alias created by Peter Navarro in order to present his views and opinions.

Download or read book The EU the US and China Towards a New International Order written by Jing Men and published by Edward Elgar Publishing. This book was released on 2014-02-28 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: The interaction between the EU, the US and China is of particular importance to the formation of the international order in the 21st century. This book focuses on the latest developments and examines how critical the interactions between these three pl

Download or read book The National System of Political Economy written by Friedrich List and published by . This book was released on 1904 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book In the Shadow of the Dragon written by Winter Nie and published by AMACOM Div American Mgmt Assn. This book was released on 2012-05-15 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ômade in Chinaö label has long dominated the lower end of the US manufacturing industry, effectively squeezing it out of existence. That's old news. What most people don't know is that China's global reach now extends much further. Chinese companies have entered higher-end marketsùtechnology, financial services, transportation, energyùand are emerging as powerhouse multinationals. In the Shadow of the Dragon is a meticulously researched exposT of the most competitive companies in China. Based on interviews with Chinese business leaders and original case studies, the book provides: ò Profiles of key players ò Insights into subtle yet powerful strategies used to gain market dominance ò An understanding of the Chinese approach to going global ò Analysis of the Chinese way of innovation ò Advice on competing head-to-head or forming alliances with Chinese partners Part primer, part survival guide, In the Shadow of the Dragon is the first book to lay bare the challenges looming ahead.

Download or read book Making Of An Economic Superpower The Unlocking China s Secret Of Rapid Industrialization written by Yi Wen and published by World Scientific. This book was released on 2016-05-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.