scholarly journals THE US-CHINA TRADE WAR AND ITS IMPACT ON THAILAND’S ECONOMY

2020 ◽  
pp. 17-32
Author(s):  
Irina Onyusheva ◽  
Rungnapa Khamboocha ◽  
Nipaporn Muangmutcha
Keyword(s):  
Global Economy ◽  
Economic Effects ◽  
Economic Consequences ◽  
Goods And Services ◽  
China Trade ◽  
The Us ◽  
The Usa ◽  
Trade War ◽  
Trade Wars ◽  
The Relationship

This paper analyzes the economic consequences of the trade war ongoing between the USA and China as applied to Thailand. The paper mainly focuses on the relationship between the global tariffs’ imposition during this US-China trade war as they directly hit several Thai export products as well as the US-China trade war impact on Thai business via dumping goods into Thailand and Thai products intermediately affected by the tariffs imposed on Chinese or US goods. Recently, it has been illustrated by many researchers and economists that trade wars, especially between those waged between such large economies have adverse economic effects on the global economy and international trade. This paper utilizes PESTEL and also causes and consequences analysis to explain the trends of the US or China exports of goods and services to Thailand, Thai intermediate inputs indirectly affected by the tariffs imposed on Chinese or US goods and dumping goods into Thailand as the latter could intensify domestic competition.

The Thucydides Trap as an Alternative Explanation for the US–China Trade War

2020 ◽  
Vol 12 (1) ◽  
pp. 42-55 ◽  
Author(s):  
Imad A. Moosa
Keyword(s):  
Alternative Explanation ◽  
Bilateral Trade ◽  
National Income ◽  
Trade Deficit ◽  
Basic Principles ◽  
China Trade ◽  
The Us ◽  
The Usa ◽  
Thucydides Trap ◽  
Trade War

The current trade war between the USA and China is perceived to be motivated by the US desire to curtail the bilateral trade deficit, on the assumption that reducing the deficit boosts economic growth. This flawed proposition indicates gross misunderstanding of the national income identity and the basic principles of macroeconomics. The imposition of tariffs will not reduce the trade deficit as the assumptions and conditions required for a smooth working of the process are unrealistic and counterfactual. The notion of an economic Thucydides trap is put forward to explain why the trade war is motivated by US apprehension about China’s rising economic power.

scholarly journals The United States-China Trade War: Empirical Assessment

2020 ◽  
pp. 35-45
Author(s):  
Victor Adjarho Ovuakporaye
Keyword(s):  
United States ◽  
Global Economy ◽  
The United States ◽  
International Economy ◽  
Trade Relation ◽  
Empirical Assessment ◽  
China Trade ◽  
The Us ◽  
Trade War ◽  
The Impact

This paper aims to explore the US-China trade war by looking at various issues surrounding the US-China trade relation. The US-China trade war had been imminent since January 2018, meritoriously commenced on 6 July 2018, which is still ongoing. The US imposed sanctions on various Chinese goods, which was counter by the Chinese side also. Both side have felt the effect of the trade war though China felt the impact more than United States. Though, both nations have recently held positive trade talks which leads to the first phase of negotiation the trade war is still ongoing. If the partnership between the United states and China collapses, this will also end up harming the global economy severely since they are crucial cornerstones of the international economy.

scholarly journals Macroeconomic Effects of Trade Tariffs: A Case Study of the U.S.-China Trade War Effects on the Economy of the United States

2020 ◽  
Vol 11 (22) ◽  
pp. 305-326
Author(s):  
Sandra Žemaitytė ◽  
Laimutė Urbšienė
Keyword(s):  
United States ◽  
The United States ◽  
Economic Consequences ◽  
Total Trade ◽  
Real Gdp ◽  
China Trade ◽  
United States Economy ◽  
The Us ◽  
Macroeconomic Effects ◽  
Trade War

This paper explores the macroeconomic effects of trade tariffs in the context of the recent trade conflict between the United States and China. The focus is laid on two trade war scenarios, and one of them takes into account the effects of the COVID-19 pandemic on the global trade flows. After deploying the partial equilibrium SMART model, the authors conclude that solely due to the trade war with China, in 2020, the US total trade balance will improve by 41,020 million USD (0.21% of real GDP), while 43,777 million USD (0.22% of real GDP) of the US imports will have to be sourced from other countries. The US trade intensity with China and welfare will decline. However, our study has found that the potential economic consequences of COVID-19 will reduce the relative effects of the trade war. The study has revealed that the United States economy will benefit from the trade war, which can be explained by a relatively weak China’s retaliatory response. Nevertheless, the US agriculture and automotive sectors will suffer most.

scholarly journals A real driver of US–China trade conflict

2019 ◽  
Vol 3 (1) ◽  
pp. 30-40 ◽  
Author(s):  
Min-hyung Kim
Keyword(s):  
Transition Theory ◽  
Power Transition Theory ◽  
Content Type ◽  
China Trade ◽  
The Us ◽  
The Usa ◽  
Us Hegemony ◽  
Trade War ◽  
Zero Sum ◽  
Hegemonic Stability

Purpose According to the conventional wisdom, trade is not a zero-sum game, but a positive-sum game. By allowing countries to focus on producing the goods that they can produce relatively efficiently, free trade is largely beneficial for everyone involved. Then, why are the world’s two largest economies (i.e. the USA and China) currently engaged in a trade war, which is likely to hurt their own economies? What is the driving force for the trade war between the two economic giants? The purpose of this paper is to offer an explanation of the underlying cause of the US–China trade war. Design/methodology/approach In an effort to make sense of the trade war between the USA and China, the paper draws the insights from the two international relations theories – i.e. hegemonic stability theory and power transition theory. Findings As China continues to threaten US hegemony in the world in general and East Asia in particular, the Sino–US competition for hegemony will intensify over time. As a result, the trade war between the two countries may persist longer than many anticipate. Further, even if the trade war between the two superpowers ends soon, a similar type of conflict is likely to occur later as long as the Sino–US hegemonic rivalry continues. Originality/value The central thesis of this paper is that “US fear” about its declining hegemony and China’s rapid rise as a challenger of US hegemony is driving a US-launched trade war with China. Since the underlying cause of the trade war between the world’s two largest economies is political (i.e. the Sino–US hegemonic rivalry) rather than economic (e.g. US attempts to improve the trade balance with China by imposing tariffs on Chinese goods), the paper contends that the full understanding of the trade war requires close attention to the importance of power competition between the two superpowers.

Beyond Trade War: Reevaluating Intellectual Property Bilateralism in the US–China Context

2021 ◽  
Vol 24 (1) ◽  
pp. 53-76
Author(s):  
Carrie Shu Shang ◽  
Wei Shen
Keyword(s):  
Intellectual Property ◽  
Property Rights ◽  
Intellectual Property Rights ◽  
Trade Agreement ◽  
Republic Of China ◽  
China Trade ◽  
The Us ◽  
The Usa ◽  
Trade War ◽  
Organization Framework

ABSTRACT The Economic and Trade Agreement between the USA and the People’s Republic of China (hereinafter the ‘Phase One Agreement’) concluded in January 2020 leaves many important questions unanswered. This article goes beyond narrow textualist approaches and seeks to conceptualize the current trade tension by providing an alternative narrative with a focus on China’s post–Trade War commitments to higher intellectual property rights standards. In particular, it focuses on the bilateral interaction between the USA and China during and shortly after the Trade War and how the interaction impacts China’s legal changes from a transnational law perspective. It further argues that US-reinforced intellectual property rights rules have potentially paved the way for further US–China trade and investment talks. However, in order to better maintain a long-term balance between preservation of policymaking autonomy and regulation of protectionist measures, an approach better aligned with the World Trade Organization framework needs to be pursued.

scholarly journals US-China Trade War: Causes and Outcomes

2020 ◽  
Vol 73 ◽  
pp. 01012
Author(s):  
Larisa Kapustina ◽  
Ľudmila Lipková ◽  
Yakov Silin ◽  
Andrei Drevalev
Keyword(s):  
Bilateral Trade ◽  
Federal Budget ◽  
Conjectural Variation ◽  
Political Dimension ◽  
Economic Relations ◽  
China Trade ◽  
The Us ◽  
Trade War ◽  
Trade Wars ◽  
Limit Access

The article reviews the chronology and analyses the causes and possible consequences of the trade war between the US and China. The authors identify four main reasons that led to the greatest trade conflict between the two economies in history associated with intentions of the US: a) to reduce the deficit of bilateral trade and increase the number of jobs; b) to limit access of Chinese companies to American technologies and prevent digital modernization of the industry in the PRC; c) to prevent the growth of China’s military strength; and d) to reduce the federal budget deficit. It is confirmed and concluded that trade wars have no winners. Taking into account the two countries’ GDP scale and export volumes, the US-China trade war will come amid a slowdown in the global production and international trade. The article analyses the outcomes of the trade confrontation based on the scenario methodology. The authors identify 4 scenarios by making assumptions about the response pattern and conjectural variation in the bilateral economic relations. The US protectionist policy has its political dimension. The constraints of the bilateral trade is one of the tools for slowing China's military and economic power growth.

scholarly journals Popular nationalism: Global Times and the US–China trade war

2019 ◽  
Vol 82 (1) ◽  
pp. 26-41 ◽  
Author(s):  
Wenna Zeng ◽  
Colin Sparks
Keyword(s):  
Free Trade ◽  
International Agreement ◽  
Chinese People ◽  
Han Ethnicity ◽  
China Trade ◽  
The Us ◽  
The Usa ◽  
International Issues ◽  
Trade War ◽  
Popular Nationalism

This article analyses the coverage of the current US–China trade war in the Global Times. Some scholars argue that official nationalism, which stress the unity of the Chinese people, is challenged by popular nationalism, which privileges the dominant Han ethnicity, and that official nationalism is forced to make concessions to popular nationalism. If this is true, then one would expect to find evidence in the coverage of international issues in a ‘popular’ official newspaper like Global Times. The newspaper’s coverage stresses negative features of the USA, but devotes considerable space to the damage that Trump's policies are doing to ordinary Americans. It does not present China as the unique victim of US economic aggression. The coverage stresses broad international agreement for free trade, leaving the USA isolated in adopting protectionist policies. At least in this instance, state-led nationalism remains central and no concessions are made to popular sentiments.

The Impact of the US–China Trade War on the European Union

2020 ◽  
Vol 12 (1) ◽  
pp. 56-68 ◽  
Author(s):  
Sebastien Goulard
Keyword(s):  
European Union ◽  
The European Union ◽  
European Policy ◽  
Trade Disputes ◽  
Eu Member States ◽  
China Trade ◽  
The Us ◽  
The Usa ◽  
Trade War ◽  
The Impact

Since April 2018, the USA and China have been engaged in a trade war. Because of the importance of these two countries in world trade, this dispute does affect not only the Chinese and American economies but also the entire world. Several studies have shown the impact of this dispute on different countries in Asia, but little was done to study the effect on European Union (EU) member states. The trade war between the USA and China should not let us forget the trade disputes between Washington and Brussels on one hand and EU–China trade differences on the other hand. This article will take stock of European policy towards the USA and China in this trade war; we will study the consequences of the US–China trade war on the exchanges between Europe and China and analyze the possible diversion created by this trade war for the European market.

Economic Impacts of the US–China Trade War on the Asian Economy: An Applied Analysis of IDE-GSM

2021 ◽  
pp. 263168462110322
Author(s):  
Satoru Kumagai ◽  
Toshitaka Gokan ◽  
Kenmei Tsubota ◽  
Ikumo Isono ◽  
Kazunobu Hayakawa
Keyword(s):  
United States ◽  
Global Economy ◽  
Negative Impact ◽  
Economic Impacts ◽  
The United States ◽  
China Trade ◽  
Computational General Equilibrium ◽  
The Us ◽  
Trade War ◽  
Asian Economy

In this article, we attempt to estimate the economic impacts of the US–China trade war that began in 2018. We used IDE-GSM, a computational general equilibrium simulation model, to estimate the economic impacts of a ‘full-confrontation’ scenario wherein both countries impose 25% additional tariffs on all goods imported from each other for 3 years 2019 onwards. In our calculation, the economic impact for the United States is −0.4% and −0.5% for China. Some Asian countries benefit from the trade war. As far as it remains bilateral, the trade war is only an issue for the concerned parties. We also ran the US–world trade war scenario, wherein the United States and all other countries impose a 25% additional tariff on all goods. The negative impact on the global economy is –0.8%, much more significant than the 0.1% impact from the US–China trade war. Thus, it is clear that the world cannot afford to engage in a multilateral trade war. JEL Codes: C68, F13

scholarly journals US–China Trade War: The Tale of Clash Between Biggest Developed and Developing Economies of the World

2019 ◽  
Vol 5 ◽  
pp. 1
Author(s):  
Anjala Kalsie ◽  
Ashima Arora ◽  
◽  
Keyword(s):  
United States ◽  
Developing Economies ◽  
Collateral Damage ◽  
China Trade ◽  
Long Run ◽  
The Us ◽  
The World ◽  
Trade War ◽  
The Impact ◽  
Trade Wars

United States (US) and China are the two largest economies of the world, where the former is the biggest developed economy and the latter is one of the largest developing economies of the world. This paper implores to assess the cause and effect of the US-Sino Trade War. The attempt is to understand the reasons behind the same and its impact on warring economies and collateral damage to the economies of other countries. The experience establishes that trade wars have no winners. The war started in year 2018; the long-run effects of this trade war are still to be seen yet; till date the impact of this crisis has been substantial for both the US and China.

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