scholarly journals TRADE WAR BETWEEN THE US AND CHINA: THE SCALE OF INFLUENCE

Author(s):  
Oksana Vasylytsya ◽  
Myroslava Chekh

In the context of world economy globalization, competition between producers exceeds the established framework. In particular, the situation is exacerbated between the biggest countries. The world's leading economy, the United States, has lost some of its position in recent decades due to China's intensification in many markets. The deepening of negative trends such as negative trade balance, the loss of export markets, and the growing dependence on China stimulated the introduction of protectionist measures against China and beginning of a trade war between these countries. Such measures affect not only the participating countries, but also have unpredictable consequences for the rest of the globalized world. The article provides a retrospective analysis of the trade war between the United States and China, examines the opinions and forecasts of experts on the consequences of such a confrontation. Based on the analysis of theoretical approaches, it is appropriate to distinguish the following assumptions: (1) global trade wars have negative consequences for all parties to the conflict, as they generally reduce the welfare effect; (2) within the framework of bilateral trade is possible both scenarios, however, are usually lost both parties; (3) even though the big economy benefits from trade wars – world welfare deteriorates. Least squares regression analysis (SLS) was used to estimate the main functional dependences. Based on four statistical models, the effects of the trade war on the world economy as a whole (1), foreign trade partners of China and the United States (2) and on countries themselves (3 and 4) are estimated. It has been established that trade disputes between the United States and China affect the parties of the conflict and their foreign trade partners to a greater extent than economic growth on a global scale. This situation creates the basis for the negative expectations, which have more impact than the phenomenon of trade war itself. The current and further consequences of the ongoing conflict are seen not only as a threat but also as an opportunity for Ukraine’s economy. Consequently, the priority should be on finding new export markets, further diversification of foreign trade in geographical and commodity dimensions, quality industrial policy that will involve innovative technologies, development of the domestic market, which can serve as a shock absorber from foreign market fluctuations.

Author(s):  
Özlem Toplu Yılmaz

This chapter analyzes the trade war between the United States of America and China. The United States of America and China are the two biggest trade leaders in the world. The United States supported China for its integration to world trade. The United States accused China of pursuing unfair trade policies. The United States increased tariffs against Chinese imports and China undertook retaliation measures against the United States' tariff increases. The two countries entered a period of a trade war and they started to implement protectionist policies on each other. These protectionist policies between the United States and China are seen as trade wars and could affect the world trade liberalization adversely. As they are trade partners too, it is better for both countries to end this war and to reach an agreement, because trade liberalization efforts could fail.


2021 ◽  
Vol 16 (4) ◽  
pp. 0
Author(s):  
Dmitry Evdokimov

The study is devoted to the analysis of intercountry trade wars, assessment of the consequences of open confrontation between China and the United States, consideration of digital programmatic and managerial mechanisms for predicting and preventing such negative phenomena. The international economic system has undergone serious shocks associated with the intercountry trade war between the United States and China, with an active phase in 2017-2019, as well as complications caused by the epidemiological situation, starting in 2020. The United States, in turn, realizing that the leadership in world trade is smoothly transferring to China, took decisive measures, unleashing an intercountry trade war that affected most of the developed countries, including the longtime trade partners of the United States. The confrontation of these leading shit not only has a detrimental effect on the economies of their trading partners, but also directly affects global socio-economic processes and becomes especially noticeable if it is between superpowers, which account for 40% of all trade revenues. Noting this situation, it should be said that there are no universal and generally accepted software solutions for assessing, analyzing and preventing such negative economic phenomena in an explicit form. One of the Russian tools that could take over the functions of calculating the consequences of intercountry trade wars is the Situation Center. Such a role would be a logical continuation of the main vector of Russia's development in the field of public administration, since a complex system of distributed situational centers has already been launched, which can effectively carry out the functions of collecting and analyzing volumetric clusters of information at the world and national levels. On the basis of such data, it will be possible to build promising software and analytical models of various levels and directions, incl. to assess and prevent escalation of trade wars.


Author(s):  
S. Bai ◽  
N. Dyeyeva ◽  
T. Melnyk ◽  
K. Puhachevska

We focused our attention on the causes of the current trade war between the United States and China. The article analyzes the influence of electoral processes in the USA on the choice between free trade and protectionism. The relationship between China’s accession to the WTO, mutually beneficial cooperation with the United States, and trends in the trade balance between major trading partners have been determined. The article illustrates the main mutual claims between the United States and China, which led to the outbreak of «the largest trade war in economic history». We determined the main stages of the conduct of «military operations» and characterized the directions of the conflict escalation. The attention is focused on the losses in the trade war; the main beneficiaries from the «trade disagreements» were identified. We proposed an alternative opinion on the real consequences of the trade war for the warring parties. The article studies the impact of trade wars on world GDP and the national economies of the largest countries of the world. Attention is focused on the existence of «phantom trade» for finding the way out of sanctions and tariffs. The role of Ukrainian business in trade wars is examined in detail. We analyzed the main trade wars Ukrainian enterprises are involved in and possible results for the business. The article gives the author’s vision of the impact of the trade war on the trade balance between Ukraine and the key participants in the trade war: the United States and China. We concluded which branches of the Ukrainian industry are in priority for developing trade relations with China. The article highlights the main barriers to the development of trade with the United States and the reasons for the decline in the export of Ukrainian goods. We predicted how the improvement in relations between the United States and China will affect the role of Ukrainian business in the context of world trade wars.


Author(s):  
Mintu Jana ◽  
Taniya Roy

The world is facing a new geopolitical challenge in the pandemic caused by the spread of COVID-19. The world economy has shrunk by about 3%. The trade war between the United States and China and their defensive agreements with other countries was already a huge problem, but it has reached a critical stage due to COVID-19. The United States has filed multiple lawsuits against China, alleging that they purposely released the Coronavirus. The objective of this article is to examine the shifting Geopolitics, focusing on international economic and defensive relationships among countries, and especially on the Second Cold War between the United States and China. In this pandemic situation, more countries are facing economic downturn and loss of human life. A new geopolitical journey has been started, which is based on the availability of Personal Protective Equipment (PPE) and medical products. All previous problems that had not yet been solved by the United Nations have become fresh challenges. Another big challenge is the demise of Neoliberalism in the world. Bureaucratic wars have started in the interregional and intraregional zones, and the Second Cold War has started between the United States and China. A major finding of this article is the significant correlation between the death rate of different countries and the shift of geopolitics to a critical stage.


2021 ◽  
Vol 232 ◽  
pp. 02001
Author(s):  
Syahrul Ganda Sukmaya ◽  
Saptana Saptana

In recent history, the ongoing trade war between the United States and China is unparalleled. This research looks at the impact of trade wars on Indonesian agricultural products' competitiveness and export performance. The methods used for this study are NRCA, EPD and CMSA. We find that conditions of the trade war between China and the US affect the competitiveness and competitiveness of Indonesian agricultural products in the destination countries. The impact of the trade war conditions on the competitiveness of Indonesian agricultural products compared to China and their export to the United States. Indonesia's agricultural exports during the trade war to China's and US destination countries are: HS 01, HS 04, HS 08, HS 12 and HS 18. Indonesian agricultural exports to China and the US are influenced primarily by the increase in global demand and the composition of competitiveness.


2020 ◽  
Vol 5 (4) ◽  
pp. 272
Author(s):  
Jingyu Song

<p>By see the tariffs and trade wars in different time periods, each countries’ aim to start the trade war and tariff are protecting themselves. Analyzing and comparing the tariff acts in the colonial and antebellum period, the trade conflicts between the United States and Japan in the 1980s, and 2019’s China-United States trade war, we can see how tariffs work the same but also different in different time periods. </p>


Author(s):  
Anna Sergeevna Iuniushkina ◽  
Kristina Alekseevna Shapovalova ◽  
Evgeniya Yur'evna Katkova

Confrontation between the two most economically developed countries and the advent of coarse trade wars has disturbed the international arena in 2017. One of the causes for such contradictory relations is presidency and election campaign of Donald Trump, who actively advocated the need to change the structure of relations between the United States and China. This article is an attempt to get a grasp on the origins of contradictions, trace the chronology of the development of trade wars, and carry out a comprehensive analysis of the methods and instruments used by the governments of both countries to resolve the conflict. The key goal of this research is to determine the main causes underlying the trade-economic rivalry between China and the United States, as well as the prerequisites for the emergence of trade wars between the countries. Special attention is given to the U. S. &ndash; China contradictions during the presidency of D. Trump. Methodological framework is comprised of theoretical methods of analysis, synthesis, and comparison, as well as systematic approach for examining the key challenges emerging in the trade relations between China and the United States, and mechanisms for overcoming them. In the studying the in-depth motives of the modern conflict, the authors referred to the power transition theory, which clarifies the origins of contradictions between the countries. The novelty of this work consist is consideration of the current stage of U. S.&nbsp; &ndash; China trade war, which continues despite the outbreak of the worldwide COVID-19 pandemic. The conclusion is made that the contradictions between PRC and the United States are of compound, and thus, not limited by contradictions in the trade-economic sphere, which conditions for long-run conflict.


2020 ◽  
pp. 19-36
Author(s):  
Byambakhand Luguusharav ◽  
Bolormaa Budjav

Republican candidate Donald J. Trump, who ran in the 2016 US presidential elections with a slogan “Make America Great Again” defined his foreign policy as “America First”. He set out to balance the long-running deficit of the United States, which led to the US-China trade war. The war not only affected the economies of Washington and Beijing but also it had a devastating effect on the world economy. The first part of the article discusses the concept of a trade war, while the second part analyzes the origins, causes, and course of the trade war between the United States and China, and the trade agreement between the two countries that have temporarily stopped the trade war. At the end of the article, the positive and negative implications of the US-China trade war on the economies of both countries and the global economy will be reviewed. АНУ-БНХАУ-ын худалдааны дайн, дэлхийн эдийн засагт үзүүлсэн нөлөө Хураангуй: АНУ-ын Ерөнхийлөгчийн 2016 оны сонгуульд “Америкийг дахин агуу болгоё” гэсэн мөрийн хөтөлбөртэй оролцсон Д.Трамп ялалт байгуулж, өөрийн гадаад бодлогыг “Америкийг эн тэргүүнд тавих” хэмээн тодорхойлсон юм. Улмаар тэрээр олон жилийн туршид асар их алдагдалтай явж ирсэн Америкийн гадаад худалдааны балансыг тэнцвэржүүлэх зорилт дэвшүүлсэн нь АНУ- БНХАУ-ын худалдааны дайн гарахад нөлөөлсөн. Энэ дайн нь Вашингтон, Бээжингийн эдийн засагт нөлөөлөөд зогсохгүй дэлхийн эдийн засгийг доргилтонд оруулаад байна. Толилуулан буй өгүүллийн эхний хэсэгт худалдааны дайны тухай ойлголтыг авч үзэх бол хоёрдугаар хэсэгт АНУ-БНХАУ-ын хооронд өрнөсөн худалдааны дайны үүсэл, шалтгаан, өрнөл, энэ дайныг түр зогсоогоод байгаа хоёр улсын худалдааны хэлэлцээрт дүн шинжилгээ хийнэ. Өгүүллийн төгсгөлд, АНУ-БНХАУ-ын худалдааны дайн нь хоёр улсын эдийн засагт төдийгүй дэлхийн эдийн засагт үзүүлсэн эерэг, сөрөг нөлөөлийн талаар дүн шинжилгээ хийсэн болно. Түлхүүр үгс: АНУ, БНХАУ, худалдааны дайн, дэлхийн эдийн засаг, тариф


2019 ◽  
Vol 5 ◽  
pp. 1
Author(s):  
Qin Sheng ◽  

The Sino–United States (US) trade war since 2017 has triggered Sino–US confrontations in the economic field and also intensified geopolitical competition. From a historical perspective, the current Sino–US trade war is a continuation of the conservative US trade policy, rather than a dramatic development. From a global perspective, the trade dispute between China and the United States is only part of President Donald Trump's grand global economic strategy that aims to stabilize the economic hegemony of the United States. Trump's economic diplomacy targets both China and its Western allies, with the goal of achieving a comprehensive and complete solution. The developmental status of the United States shows that its economic strength is increasingly insufficient to support the status of global hegemony, as well as being increasingly incapable of meeting the global requirements for providing public goods. Therefore, trade wars are essentially trade policy adjustments made by the United States to consolidate its hegemonic foundations and fight against potential opponents, e.g., the trade wars against Germany in the 1960s and Japan in the 1980s. Based on the timeline of the current trade war, Trump was obviously well prepared. Trump's behavior now clearly violates the basic rules of WTO and his policy does not focus on technology and innovation, which is key to future economic growth. Whether Trump's well-planned and aggressive economic strategy will work, it will fundamentally change China's US policy from cooperative to more independent.


2020 ◽  
Vol 28 (4) ◽  
pp. 842-857
Author(s):  
Lora N. Fedyakina ◽  
Arina A. Tinkova

National economic interests are changing in terms of high competition in the world economy, and its global players foreign trade policy direction is correlated with the protectionist sentiments of the United States. The purpose of the study is to identify and analyze the evolution, correlation and new trends in the mechanisms of US trade policy. As a result of the analysis of four mechanisms (international organizations, the official financing system, international integration, tariff and non-tariff regulation, as well as their variations in the form of trade wars and sanctions within the framework of a trade war instrument), authors describe the theoretical, evolutionary and practical aspects of protecting national interests and their impact on the world economy. The authors opinion on the place and role of sanctions in the system of trade policy mechanisms is presented, the sanctions economic aspect in the framework of trade wars is highlighted.


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