Us Permanent Normal Trade Relations With China
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Us Permanent Normal Trade Relations With China
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Author : Shunli Yao
language : en
Publisher:
Release Date : 2001
Us Permanent Normal Trade Relations With China written by Shunli Yao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
The China-US trade relation has been plagued by the threat of MFN revocation in the past 10 years. The recent passage of China WTO bill in US House of Representatives paves the way for eventually granting China the Normal Trade Relations (NTR, formerly MFN) status on a permanent basis. As a result, the annual review of China?s trading status in the US mandated by the 1974 Jackson-Vanik legislation will come to an end. However, as the ideological and political hostility between the two countries which has motivated the MFN debate still exists, the bilateral trade relation will continued to be haunted by similar threats, though may in different semantics and under different legal justifications. Using GTAP, this paper tries to assess the stakes of the US permanent NTR with China by simulating the MFN removal. Given the fact that 75% of US-China trade is handled by the Hong Kong traders, and textile and clothing accounts for a large portion of China and Hong Kong export to the US, this study focuses on how the Hong Kong?s re-export trade and the Multi-fibre Arrangement (MFA) will complicate the assessment. The US trade sanctions against China will seriously disrupt the bilateral trade and both countries will suffer substantial welfare loss. The trade sanctions will also devastate Hong Kong?s economy, as it serves as a middleman in the US-China trade and will be caught in crossfire. The trade conflict between the US and China will make the countries involved (US, China and Hong Kong) less integrated with rest of the world and others more integrated with the rest of the world. Thus, while the US, China and Hong Kong all suffer welfare losses, other countries all have welfare gains. The assessment of the impact of MFN removal on Hong Kong is made possible by the inclusion of the author?s work on Hong Kong?s re-export margins into GTAP database. Based on this work and the US tariff schedules, the author is able to estimate the effective tariff on Hong Kong?s services export to the US induced by the US trade sanctions against China. A scenario that does not consider the role of Hong Kong?s re-export in US-China trade will over-estimate the damage done to the US, as it ignores the expansion of Hong Kong?s exports of non-services sectors, which will lower the cost of the US import replacement. The US welfare loss is conditional on the existence of MFA. If the US unilaterally relaxes the MFA quota, it will reverse the welfare loss to welfare gain. This is in part because the MFA keeps the prices of the textile and clothing high and this gives the high potential of welfare gain from removing MFA on the US part alone. But if the MFN and the worldwide MFA are removed simultaneously, the US will suffer a welfare loss. In fact, the MFA is going to be phased out in 2005 under the Uruguay round agreement. Without MFA, this paper shows that the US sanctions against China will cause the US $2.9 billion loss. This will be the only outcome and the US will not have any options to buffer the damage. Thus, it is a wise move for the US to grant China the permanent NTR.
Granting Permanent Normal Trade Relations Pntr Status To China
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Author : United States. Congress. House. Committee on International Relations
language : en
Publisher:
Release Date : 2000
Granting Permanent Normal Trade Relations Pntr Status To China written by United States. Congress. House. Committee on International Relations and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with China categories.
Permanent Normal Trade Relations With The People S Republic Of China
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Author : United States. Congress. House. Committee on Ways and Means
language : en
Publisher:
Release Date : 2000
Permanent Normal Trade Relations With The People S Republic Of China written by United States. Congress. House. Committee on Ways and Means and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with China categories.
U S Consideration Of Permanent Normal Trade Relations With China
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Author : United States. Congress. Senate. Committee on Finance
language : en
Publisher: Agriculture Department
Release Date : 2000
U S Consideration Of Permanent Normal Trade Relations With China written by United States. Congress. Senate. Committee on Finance and has been published by Agriculture Department this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Political Science categories.
Permanent Normal Trade Relations For China Pntr
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Author : United States. Congress. House. Committee on Banking and Financial Services
language : en
Publisher:
Release Date : 2000
Permanent Normal Trade Relations For China Pntr written by United States. Congress. House. Committee on Banking and Financial Services and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Giving The People S Republic Of China Permanent Mfn
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Author : United States. Congress. Senate. Committee on Foreign Relations
language : en
Publisher:
Release Date : 2000
Giving The People S Republic Of China Permanent Mfn written by United States. Congress. Senate. Committee on Foreign Relations and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with China categories.
The Administration S Proposal For Permanent Normal Trade Relations With China
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Author : United States. Congress. House. Committee on Agriculture
language : en
Publisher:
Release Date : 2000
The Administration S Proposal For Permanent Normal Trade Relations With China written by United States. Congress. House. Committee on Agriculture and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Agricultural industries categories.
Granting Permanent Normal Trade Relations Status To China
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Author : United States. Congress
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2018-01-08
Granting Permanent Normal Trade Relations Status To China written by United States. Congress and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-08 with categories.
Granting permanent normal trade relations (PNTR) status to China : is it in the U.S. national interest? : hearing before the Committee on International Relations, House of Representatives, One Hundred Sixth Congress, second session, Wednesday, May 10, 2000.
Permanent Normal Trade Relations For China Pntr Hearing Serial No 106 58 Committee On Banking Financial Services U S House
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Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs
language : en
Publisher:
Release Date : 2000*
Permanent Normal Trade Relations For China Pntr Hearing Serial No 106 58 Committee On Banking Financial Services U S House written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000* with categories.
The Case For Permanent Normal Trade Relations With China
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Author : Committee for Economic Development
language : en
Publisher:
Release Date : 2000
The Case For Permanent Normal Trade Relations With China written by Committee for Economic Development and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with China categories.