scholarly journals Arising of Trade Disputes among the G20: Evaluation of US-China Trade Relations in the Context of World Trading System

2019 ◽  
Vol 5 (1) ◽  
pp. 1
Author(s):  
Yagoub Elryah ◽  
Keyword(s):  
United States ◽  
Trade Policy ◽  
Global Financial Crisis ◽  
Large Body ◽  
The United States ◽  
Trading System ◽  
Trade Disputes ◽  
China Trade ◽  
The World ◽  
World Trading System

Trade policy among the G20 has emerged as one of the challenges the group faces during the last decade after the 2008 global financial crisis. This paper aims at analyzing the current trade disputes between China and the United States and the efforts the G20 has taken to settle these disputes. The fundamental questions this study attempts to answer are as follows: (1) what the US–China trade dispute means for the world trading system? (2) what the G20 can do to prevent destructive trade wars? We confront this view by critically examining a large body of evidence on the effects of trade policy on economically important outcomes. We begin with a discussion of the role of G20 in stabilizing world economy. We show the G20’s recent economic and trade development challenges and measurements of trade policy and identification of its causal effects. We present the trade balance between the United States and China. We also illustrate the efforts made by the G20 in promoting the development of China–US trade cooperation. Data were collected from different sources. Data are collected from the World Bank, the World Trade Organization (WTO) publications, and the G20 summits’ reports. The results show that the United States has a trade deficit with China, and the global growth would be notably curtailed as investment and consumer spending fall back. The G20 should focus on supporting the WTO, being upfront about the mixed effects of trade and investment, and improving G20 measures to tackle protectionism.

(I can’t get no) satisfaction: Happiness and successful societies

2018 ◽  
Vol 54 (3) ◽  
pp. 279-293 ◽  
Author(s):  
Bryan S. Turner
Keyword(s):  
United States ◽  
Life Satisfaction ◽  
Social Policy ◽  
Global Financial Crisis ◽  
The United States ◽  
Necessary Condition ◽  
Individual Experience ◽  
Human Flourishing ◽  
The World ◽  
The Global Financial Crisis

Whereas happiness ( eudaimonia or human flourishing) was fundamental to the classical thought of the Greeks and Romans, as felicitas and beatitudo were to Christianity and a ‘felicific calculus’ to utilitarian philosophers, since Max Weber’s criticism of happiness as a goal of social policy it has largely disappeared from mainstream sociology. The article contrasts Aristotle’s view of eudaimonia from the Nicomachean Ethics, in which a happy/flourishing polis was a necessary condition for happy/flourishing citizens, with contemporary societies in which, while there is much talk about happiness, it is often understood as an individual experience associated with pleasure (and especially with privatized consumption). Happiness studies indicate that happiness cannot be separated from a successful society. Recent data from the United States show how life satisfaction is declining with economic decay. The World Happiness Report of 2015 also helps us to distinguish between societies that recovered quickly from the global financial crisis and those that did not.

16. Trade Policy

2020 ◽  
pp. 363-387
Author(s):  
Alasdair R. Young
Keyword(s):  
United States ◽  
Trade Policy ◽  
European Integration ◽  
The United States ◽  
Bilateral Agreements ◽  
Multilateral Negotiations ◽  
The World ◽  
Integration Project ◽  
The Eu

This chapter introduces the importance of EU trade policy both to the European integration project and to the EU’s role in the world. It explains how different aspects of trade policy are made. The chapter also charts how the emphasis of EU trade policy has shifted from prioritizing multilateral negotiations to pursuing bilateral agreements. It considers how the EU has responded to the apparent politicization of trade policy within Europe and to the United States’ more protectionist and unilateral trade policy. It also considers Brexit EU trade policy and how trade policy complicated Brexit. It argues that there has been considerable continuity in EU trade policy despite these challenges.

Aggressive Unilateralism: America's 301 Trade Policy and the World Trading System.

1992 ◽  
Vol 102 (410) ◽  
pp. 185
Author(s):  
David Greenaway ◽  
Jagdish Bhagwati ◽  
Hugh T. Patrick
Keyword(s):  
Trade Policy ◽  
Trading System ◽  
The World ◽  
World Trading System

scholarly journals The utopian challenge to global capitalism by Walter van den Broeck in Terug naar Walden

Literator ◽  
2012 ◽  
Vol 33 (2) ◽  
Author(s):  
Andries Visagie
Keyword(s):  
United States ◽  
Global Financial Crisis ◽  
The United States ◽  
Global Capitalism ◽  
Capitalist System ◽  
The People ◽  
Country Road ◽  
The World ◽  
The Common ◽  
Antonio Negri

The socialist sympathies that inform the writing of Flemish author Walter van den Broeck align him with a well-established tradition of socially engaged writing in Flanders. In his novel Terug naar Walden (Back to Walden), published in 2009, he revisits the Walden project of the Dutch reformer and writer Frederik van Eeden (1860−1932). Van den Broeck suggests that a reconsideration of the socialist ideals that inspired Van Eeden to establish settlements in the Netherlands and the United States is warranted in the light of the economic crisis triggered by unchecked capitalist practices in 2008. In Terug naar Walden Ruler Marsh, the richest man in the world, unleashes a global financial crisis as a form of retaliation against the capitalist system that ruined his parents. Marsh returns to the Kempen in Flanders where his family originated. In a Heideggerean affirmation of the local as exemplified by the country road, Van den Broeck articulates his vision of the common, that theorists Michael Hardt and Antonio Negri in their Empire trilogy have attempted to salvage from communist thinking, with a utopian notion that a stronger connection with the land and the people within one’s immediate environment may provide a useful premise for the development of viable alternatives to capitalism.

Ambition Realized

2021 ◽  
pp. 171-192
Author(s):  
Peter Martin
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Soft Power ◽  
Global Financial Crisis ◽  
The United States ◽  
Terrorist Attacks ◽  
The World ◽  
International Image ◽  
The Global Financial Crisis ◽  
Taiwan Straits

Within hours of the 9/11 terrorist attacks, China’s diplomats moved to improve ties with the United States. Spotting an opportunity to improve their country’s international image and influence as the United States became distracted by the Middle East, Beijing established important bilateral dialogues with countries around the world and invested in its soft power. China’s previous efforts to woo its neighbors after Tiananmen and especially after the 1996 Taiwan Straits also paid off. The period culminated with China hosting the 2008 Summer Olympics—the most significant moment of international validation for the regime since its founding. Beijing’s improved reputation was damaged, however, when it began to act assertively in the wake of the Global Financial Crisis.

2013 Spillover Report

Policy Papers ◽  
2013 ◽  
Vol 2013 (58) ◽  
Author(s):  
Keyword(s):  
United States ◽  
Global Financial Crisis ◽  
The United States ◽  
Output Gap ◽  
Global Challenge ◽  
Percentage Points ◽  
The World ◽  
The Global Financial Crisis ◽  
Output Gaps ◽  
Global Activity

Five years after the global financial crisis, the severe tensions and risks rooted last year in some of the “Systemic five” (S5)—China, euro area, Japan, United Kingdom, United States––have abated but all five are still operating below potential, i.e., they are not contributing to global activity as much as they might: if they could somehow close their output gaps, global output would be closer to potential by 3 percentage points. Meanwhile, many parts of the rest of the world have been at or near potential. Most recently though, there have been signs of accelerated recovery in the United States and slowdown in emerging markets. This continued divergence in cyclical positions poses a global challenge, namely to find policies that help the S5 close their output gap without over-stimulating or over-tightening, through spillovers, economies that do not need it.

Aggressive Unilateralism: America's 301 Trade Policy and the World Trading System

1991 ◽  
Vol 70 (3) ◽  
pp. 165
Author(s):  
William Diebold ◽  
Jagdish Bhagwati ◽  
Hugh T. Patrick
Keyword(s):  
Trade Policy ◽  
Trading System ◽  
The World ◽  
World Trading System

scholarly journals Trade Wars: What do they mean? Why are they happening now? What are the costs?

2020 ◽  
Author(s):  
Aaditya Mattoo ◽  
Robert W Staiger
Keyword(s):  
United States ◽  
Bilateral Trade ◽  
The United States ◽  
Trading System ◽  
Multilateral Trading System ◽  
The World ◽  
Trade Wars

Abstract How should economists interpret current trade wars and the recent U.S. trade actions that have initiated them? In this paper we offer an interpretation of current U.S. trade actions that is at once more charitable and less forgiving than that typically offered by economic commentators. More charitable, because we argue that it is possible to see a logic to these actions: the United States is initiating a change from “rules-based” to “power-based” tariff bargaining and is selecting countries with which it runs bilateral trade deficits as the most suitable targets of its bargaining tariffs. Less forgiving, because the main costs of these trade tactics cannot be avoided even if they happen to “work” and deliver lower tariffs. Rather, we show that the main costs will arise from the use of the tactics themselves, and from the damage done by those tactics to the rules-based multilateral trading system and the longer-term interests of the United States and the rest of the world.

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