scholarly journals A Legal and Economic Critique of President Trump's China Trade Policies

2018 ◽  
Vol 79 (2) ◽  
Author(s):  
Daniel C.K. Chow ◽  
William McGuire ◽  
Ian Sheldon
Keyword(s):  
Global Economy ◽  
Trade Deficit ◽  
Legal Analysis ◽  
Legal Regime ◽  
Currency Devaluation ◽  
China Trade ◽  
Legal Perspective ◽  
Trade Sanctions ◽  
The U.S

The administration of President Donald J. Trump has warned that it supports an aggressive across the board tariff of 45% on all imports from China to neutralize the effects of China’s currency manipulation. However, such a tariff cannot withstand an economic and legal analysis. Fundamental economic principles indicate that China’s alleged currency devaluation cannot create a real long-term trade advantage and that the effects of currency devaluation have no real effect on the U.S.-China trade balance. Not only is currency manipulation not a cause of the U.S. trade deficit with China but the proposed remedy of a draconian 45% tariff will only create a grievous self-inflicted wound on the U.S. and global economy. From a legal perspective, a 45% tariff cannot be justified under the legal regime of the World Trade Organization as such a tariff runs afoul of the tightly regulated regime of authorized trade sanctions. As the proposed tariff cannot be justified from a legal or economic perspective it is not an advisable or appropriate response to China’s trade practices.

Crossing cultural borders: A case study of conceptual design outcomes of U.S. and Moroccan student samples

2021 ◽  
pp. 1-42
Author(s):  
Aoran Peng ◽  
Jessica Menold ◽  
Scarlett Miller
Keyword(s):  
Global Economy ◽  
Design Theory ◽  
Design Thinking ◽  
Emerging Market ◽  
Gender Effects ◽  
Concept Generation ◽  
Design Theory And Methodology ◽  
Key Aspects ◽  
The U.S

Abstract There has been a plethora of design theory and methodology research conducted to answer important questions centered around how ideas are developed and translated into successful products. Understanding this is vital because of the role creativity and innovation have in long-term economic success. However, most of this research have focused on U.S. samples, leaving to question if differences exist across cultural borders. Answering this question is key to supporting a successful global economy. The current work provides a first step at answering this question by examining similarities and differences in concept generation and screening practices between students in an emerging market, Morocco, and those in a more established market, the U.S during a design thinking workshop. Our results show that while students in the U.S. sample produced more ideas than the Moroccan sample, there was no difference in the perceived quality of ideas generated (idea goodness). In addition, while U.S. women were found to produce more ideas than U.S. men, there were no gender effects for students in the Moroccan sample. Finally, the results show that ideas with low goodness had a higher probability of passing concept screening if it was evaluated by its owner regardless of the population studied – identifying the potential impact of ownership bias across cultures. As a whole, these results suggest that key aspects of design theory and methodology research may in fact translate across cultures but also identified key areas for further investigation.

The U.S.–China Trade Deficit

2014 ◽  
Vol 28 (1) ◽  
pp. 65-83 ◽  
Author(s):  
Myeong Hwan Kim
Keyword(s):  
Trade Deficit ◽  
China Trade ◽  
The U.S

scholarly journals Discussion on the Impact of Sino-US Trade War on Taiwanese Manufacturing

2019 ◽  
Vol 14 (7) ◽  
pp. 70
Author(s):  
Jui-Lung Chen
Keyword(s):  
Global Economy ◽  
Dispute Settlement ◽  
Trade Deficit ◽  
Dispute Settlement Mechanism ◽  
Wto Dispute Settlement ◽  
Belt And Road ◽  
Trade Frictions ◽  
Trade War ◽  
The Impact ◽  
The U.S

When US President Donald Trump signed the Section 301 Investigation in March 2018, the Sino-US trade war intensified, exerting a great impact on the global economy. The Trump Administration recently has piled up the economic and trade pressure on China, while China seeks to resort to the WTO dispute settlement mechanism and break the siege imposed by the trade war through the "Belt and Road Initiative". US launched a trade war against China due mainly to the huge trade deficit with China, and the trade frictions between the U.S. and China have caused turbulence on the Asian and global industrial chains. Therefore, by analyzing the recent trade conflicts between the U.S. and China and the responses given by both respectively, this paper explores the possible impact on Taiwan's manufacturing and its potential response.

Did the U.S. Bilateral Goods Deficit With China Increase or Decrease During the US-China Trade Conflict?

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2945) ◽  
Author(s):  
Hunter L. Clark ◽  
◽  
Anna Wong ◽  
Keyword(s):  
United States ◽  
Trade Deficit ◽  
The United States ◽  
Trade Data ◽  
China Trade ◽  
The Us ◽  
The U.S

The United States' bilateral goods trade deficit with China appeared to have narrowed substantially since the escalation of the U.S.-China trade conflict in 2018, or so U.S. trade data suggest. By contrast, the Chinese data tell a much different story: the deficit, as implied by China's bilateral surplus, nearly reached historical highs by the end of 2020.

scholarly journals Resolving the Global Imbalance: The Dollar and the U.S. Saving Rate

2008 ◽  
Vol 22 (3) ◽  
pp. 113-125 ◽  
Author(s):  
Martin Feldstein
Keyword(s):  
Current Account ◽  
Global Economy ◽  
Current Account Deficit ◽  
Aggregate Demand ◽  
Trade Deficit ◽  
Saving Rate ◽  
Trade Surplus ◽  
Trading Partners ◽  
Foreign Governments ◽  
The U.S

The massive deficit in the U.S. trade and current accounts is one of the most striking features of the current global economy and, to some observers, one of the most worrying. Although the current account deficit finally began to shrink in 2007, it remained at more than 5 percent of GDP—more than $700 billion. While some observers claim that the U.S. economy can continue to have trade deficits of this magnitude for years—some would say for decades—into the future, I believe that such enormous deficits cannot continue and will decline significantly in the coming years. This paper discusses the reasons for that decline and the changes that are needed in the U.S. saving rate and in the value of the dollar to bring it about. Reducing the U.S. current account deficit does not require action by the U.S. government or by the governments of America's trading partners. Market forces alone will cause the U.S. trade deficit to decline further. In practice, however, changes in government policies at home and abroad may lead to faster reductions in the U.S. trade deficit. More important, the response of the U.S. and foreign governments and central banks will determine the way in which the global economy as a whole adjusts to the decline in the U.S. trade deficit. Reductions in the U.S. current account deficit will of course imply lower aggregate trade surpluses in the rest of the world. Taken by itself, a reduction in any country's trade surplus will reduce aggregate demand and therefore employment in that country. I will therefore look at what other countries—China, Japan, and European countries—can do to avoid the adverse consequences of the inevitable decline of the U.S. trade deficit.

Impacts of the U.S.–China Trade War on ASEAN: Case of Thailand

2019 ◽  
Vol 18 (3) ◽  
pp. 166-188
Author(s):  
Bhanupong Nidhiprabha
Keyword(s):  
Global Economy ◽  
Commodity Prices ◽  
The United States ◽  
Chinese Economy ◽  
Vector Autoregressive ◽  
Trade Dispute ◽  
China Trade ◽  
Trade War ◽  
The Impact ◽  
The U.S

With nearly a year of trade dispute between the United States and China, it has become apparent that the global economy will slow down, and this will have a direct impact on world trade. We adopt a vector autoregressive model to examine the impact of the U.S.–China trade war on the Thai economy. The results indicate that Thailand's output and exports to key markets are adversely affected by the escalating trade dispute. The slowdown in the Chinese economy will also put further downward pressure on world commodity prices, which in turn will reduce Thailand's exports.

Hong Kong’s Economy Navigating Turbulent Times

2020 ◽  
Vol 12 (01) ◽  
pp. 59-71
Author(s):  
Chen LI
Keyword(s):  
Global Economy ◽  
Mainland China ◽  
Social Stability ◽  
China Trade ◽  
External Demand ◽  
Turbulent Times ◽  
The Us ◽  
Institutional Space ◽  
Annual Decline

Hong Kong’s real gross domestic product (GDP) growth for 2019 was estimated to register the first annual decline since 2009. The economic slowdown and recession in Hong Kong were driven by both weakening domestic and external demand, aggravated by local social unrest which had disrupted social stability, transportation and commerce. Hong Kong’s economic prospects hinge on how its sociopolitical situation and the US–China trade tensions will evolve. Despite short-term headwinds, Hong Kong’s competitiveness in the long term will likely remain strong if it maintains its unique institutional space and advantages in bridging mainland China and the rest of the global economy.

scholarly journals Assessment of Feldstein’s ‘Global Imbalance'

2021 ◽  
Vol 1 (15) ◽  
pp. 125-137
Author(s):  
Pawel Mlodkowski
Keyword(s):  
Systematic Review ◽  
Empirical Evidence ◽  
Open Economy ◽  
Global Economy ◽  
Trade Deficit ◽  
Alternative Interpretation ◽  
Political Debate ◽  
Hard Data ◽  
Savings Rate ◽  
The U.S

This note is a systematic review of arguments provided by Feldstein (2008) on the necessity for global readjustments, both in the U.S. and in main trading partners. The purpose is to address the main arguments in the scientific and political debate on persistent To date, there has been no publication that challenged the opinions leading to totally wrong forecasts concerning the global imbalance. With a perspective of more than 10 years of post-2008-crisis developments, and together with empirical evidence one can easily see how erroneous were the arguments formulated in 2008. The tasks included a systematic review of all arguments formulated by Martin Feldstein in 2008, and casting them against empirical evidence. The U.S. current account (CA) deficit has continued for many years, since 1982, and has not changed, as foreseen by Feldstein. The primary method is a simple comparative analysis, supported by basic macroeconomic data. They allow to reveal multiple processes leading to further deterioration of the U.S. trade balance. Neither savings rate domestically nor abroad adjusted to give a basis for solving the global imbalance. In the same time, all traditional arguments presented on global imbalances seem undeniable. However, an alternative interpretation of the imbalance does not recognize the CA deficit as “a gift to the U.S. economy”. This paper sheds new light on the “global imbalance”, suggesting that increasing domestic absorption by China may be an important factor in resolving the U.S. problematic and persistent trade deficit. Disaster-scenarios may be not there in the U.S. to experience. Future developments may be far from those announced, and previously expected by Feldstein in his seminal paper. A careful reader may conclude that all coming changes and adjustments will be slow, gradual, and will not cause any major issues in the global economy. Such conclusions seem most justified by hard data and therefore encouraging. As the topic remains central to open economy empirical macroeconomics, continuation of studies on this issue seems natural. The U.S. and China will remain the biggest economies, and, as such, they are central to the global situation.

scholarly journals Political Economy and Regional Policy: The Impact of US-China Trade Tension on the Global Economic Growth

2020 ◽  
Vol 3 (3) ◽  
pp. 2224-2232
Author(s):  
Sunkung Danso
Keyword(s):  
Literature Review ◽  
Systematic Literature Review ◽  
Global Economy ◽  
Negative Impact ◽  
Trade Deficit ◽  
China Trade ◽  
Long Run ◽  
The Us ◽  
Trade War ◽  
The Impact

This paper uses a systematic literature review to discuss US-China trade tension. The study discusses the US-China trade tension and its impact on the global economy because the US-China trade war is imminent at the point in time since President Trump came to power in 2016. This research aims to examine how US-China trade tension is unfolding and the significant change of this trade tension on the world economy. The systematic literature review was engaged to capture the sequence of the event as they are happening between the US and China with regards to trade barriers. This research reviewed 19 peer-review journals and some news items and WTO resources relevant to this study. This study revealed that the US-China trade tension has affected consumer goods to some extent but it may not affect the global economy currently. However, it is evident that in the long-run; the US-China trade war will have an impact on the lives of people and the global economy if the issue continues to intensify. In conclusion, the economy of the US has declined drastically by 0.8% while China also experience 0.4% fall in the economy in 2019. The impact is currently not severe on the global economy but if the tension continues it might have a negative impact on the global economy. The trade deficit is getting wider between China and the US.

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