The Usa And China The Return To Protectionism
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The Usa And China The Return To Protectionism
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Author : Steve Kamundi
language : en
Publisher: GRIN Verlag
Release Date : 2022-07-07
The Usa And China The Return To Protectionism written by Steve Kamundi and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-07 with Business & Economics categories.
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.
The Return To Protectionism
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Author : Pablo D. Fajgelbaum
language : en
Publisher:
Release Date : 2019
The Return To Protectionism written by Pablo D. Fajgelbaum and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
After decades of supporting free trade, in 2018 the U.S. raised import tariffs and major trade partners retaliated. We analyze the short-run impact of this return to protectionism on the U.S. economy. Import and retaliatory tariffs caused large declines in imports and exports. Prices of imports targeted by tariffs did not fall, implying complete pass-through of tariffs to duty-inclusive prices. The resulting losses to U.S. consumers and firms who buy imports was $51 billion, or 0.27% of GDP. We embed the estimated trade elasticities in a general-equilibrium model of the U.S. economy. After accounting for tariff revenue and gains to domestic producers, the aggregate real income loss was $7.2 billion, or 0.04% of GDP. Import tariffs favored sectors concentrated in politically competitive counties, and the model implies that tradeable-sector workers in heavily Republican counties were the most negatively affected due to the retaliatory tariffs.
The Collapse Of Global Trade Murky Protectionism And The Crisis
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Author : Richard E. Baldwin
language : en
Publisher:
Release Date : 2011-03
The Collapse Of Global Trade Murky Protectionism And The Crisis written by Richard E. Baldwin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03 with Business & Economics categories.
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.
Tariff Passthrough At The Border And At The Store Evidence From Us Trade Policy
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Author : Alberto Cavallo
language : en
Publisher: International Monetary Fund
Release Date : 2019-11-01
Tariff Passthrough At The Border And At The Store Evidence From Us Trade Policy written by Alberto Cavallo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-01 with Business & Economics categories.
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.
Trade Wars Are Class Wars
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Author : Matthew C. Klein
language : en
Publisher: Yale University Press
Release Date : 2020-01-01
Trade Wars Are Class Wars written by Matthew C. Klein and has been published by Yale University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-01 with Business & Economics categories.
"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.
Chinese Foreign Policy
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Author : Marc Lanteigne
language : en
Publisher: Routledge
Release Date : 2015-12-22
Chinese Foreign Policy written by Marc Lanteigne and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-22 with Political Science categories.
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.
Clashing Over Commerce
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Author : Douglas A. Irwin
language : en
Publisher: University of Chicago Press
Release Date : 2017-11-29
Clashing Over Commerce written by Douglas A. Irwin and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-29 with Political Science categories.
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
The Eu The Us And China Towards A New International Order
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Author : Jing Men
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-02-28
The Eu The Us And China Towards A New International Order written by Jing Men and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-28 with Political Science categories.
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
Current Approaches To Metaphor Analysis In Discourse
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Author : Ignasi Navarro i Ferrando
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2019-09-02
Current Approaches To Metaphor Analysis In Discourse written by Ignasi Navarro i Ferrando and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-02 with Language Arts & Disciplines categories.
This volume takes up the challenge of surveying the present state of a variety of approaches to the identification, analysis and interpretation of metaphor across communication channels, situational contexts, genres and social spheres. It reflects three foremost trends of present metaphor research, namely the communicative approach, the cognitive modelling approach and the multimodality approach. These trends are considered as areas of research emerging on the ground of the Conceptual Metaphor Theory, initiated by Lakoff. The book intends to show their concomitances as well as mark their diversifying paths. The aim is to bring about and make apparent the many connections among assumingly different trends stemming from CMT. Whereas discrepancies between communicative and conceptual perspectives might seem irredeemable, the book emphasizes and claims that the background framework of CMT provides a solid foundation for collaboration and mutual influence. Consequently, the analysis of metaphor usage in context may provide insights for cognitive modelling proposals. The analysis of cognitive configuration of conceptual domains may, in turn, illuminate our understanding of communicative decisions in discourse. The integration of multimodal metaphor analysis puts forward the idea that diverse modal manifestations of metaphor reveal the symbiosis between communicative and cognitive stances. The various subject areas and methodologies illuminate the scene of current research in the field. The poignant contributions open far reaching avenues into the realm of human thought and discourse.
The China U S Trade War And Future Economic Relations
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Author : Lawrence J. Lau
language : en
Publisher: The Chinese University Press
Release Date : 2018-12-14
The China U S Trade War And Future Economic Relations written by Lawrence J. Lau and has been published by The Chinese University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-14 with Political Science categories.
The relation between China and the United States is arguably the most important bilateral relation in the world today. The U.S. and China are respectively the largest and the second largest economies in the world. They are also respectively the largest and the second largest trading nations in the world as well as each other’s most important trading partner. If China and the U.S. work together as partners towards a common goal, many things are possible. However, there exist significant friction and potential conflict in their economic relations. The large and persistent U.S.-China bilateral trade deficit is one of the problems. It is essential to know the true state of the China-U.S. trade balance before effective solutions can be devised to narrow the trade surplus or deficit. The impacts and potential impacts of the 2018 trade war between China and the U.S. on the two economies are analysed and discussed. The longterm forces that underlie the economic relations between the two countries beyond the 2018 trade war are examined. In this connection, how a “new type of major-power relation” between the two countries can help to keep the competition friendly and avert a war between them is explored. ~~~~~~~~ Lawrence J. Lau’s timely The China-U.S. Trade War and Future Economic Relations is full of careful analysis, penetrating insight and helpful suggestions from the world’s preeminent economist on this relationship. —Michael J. Boskin Tully M. Friedman Professor of Economics, Stanford University Former Chair, U.S. President’s Council of Economic Advisers This sober and systematic study of U.S.-China trade relations and of technological development in the two countries is particularly timely. Lawrence Lau is one of the world’s foremost economists working on these issues. —Dwight H. Perkins Harold Hitchings Burbank Professor of Political Economy, Emeritus Former Chair, Department of Economics, Harvard University This is a timely and penetrating analysis of the China-U.S. trade and economic relations, from its origins to its impacts and to a way forward. —Yingyi Qian Chairman of the Council, Westlake University Former Dean, School of Economics and Management, Tsinghua University Counsellor of the State Council, People’s Republic of China Lawrence Lau’s book on the current U.S.-China trade war is insightful, balanced and comprehensive; rich in data on trade, investment, science and technology. It is essential reading for anyone who wants to get past the headlines. —A. Michael Spence Nobel Laureate in Economic Sciences (2001) Senior Fellow, The Hoover Institution, Stanford University Lawrence Lau brings light in the form of rigorous honest fact-based economic analysis to a subject where most of the discussion has been heated bluster, false claims, and political rhetoric. —Lawrence H. Summers Former U.S. Secretary of the Treasury; Former President, Harvard University There is no topic more important, or more timely, or more urgent, than the China-U.S. trade war. Professor Lau is the ideal person to write about the implications of the China-U.S. trade war and the proposed resolution. —Tung Chee-Hwa Vice-Chairman, Chinese People’s Political Consultative Conference National Committee Chairman, China-U.S. Exchange Foundation The history of Sino-American relations, to a great extent, has been a shared history. Lawrence Lau’s timely and penetrating study will tell us it is still in best interest for both countries if they continue to pursue a shared journey and destination instead of parting ways. —Xu Guoqi Kerry Group Professor in Globalization History, The University of Hong Kong Author of Chinese and Americans: A Shared History This beautifully composed book uses nontechnical language to unravel the intricacies of the 2018 U.S.-China trade war, together with its long-term impact. I learned a lot from reading it. —Chen-Ning Yang Nobel Laureate in Physics (1957)