The Atypical Fashion of the Us-China ‘Phase 1’-Deal: Context, Content and Perspectives

2020 ◽  
Vol 23 (2) ◽  
pp. 347-370
Author(s):  
Caroline Glöckle ◽  
Aike Würdemann
Keyword(s):  
Bilateral Trade ◽  
Phase 1 ◽  
Trade Agreement ◽  
Trade Relations ◽  
Trade Law ◽  
Great Achievement ◽  
Bilateral Trade Agreement ◽  
The Us ◽  
Trade War ◽  
Chinese Trade

In January 2020, the US and China finally concluded a bilateral trade agreement amidst an ongoing trade war. From the US side, the US-China ‘phase 1’-deal was hailed as a great achievement. The paper critically examines whether and to what extent the US-China ‘phase 1’-deal can keep up with its promises. In the course of the analysis, the paper finds that the trade deal will neither place US-Chinese trade relations on a new footing, nor does it incentivise China to fundamentally change its economic model. Instead, one may argue that the ‘phase 1’-deal has a harming effect on the multilateral idea of trade law as of today.

scholarly journals Prospects for the EU-US Trade Relations in the Light of the TTIP

2016 ◽  
Vol 9 (34) ◽  
pp. 211-221
Author(s):  
Viera Ružeková
Keyword(s):  
International Trade ◽  
Regional Integration ◽  
Bilateral Trade ◽  
Trade Agreement ◽  
Trade Relations ◽  
Advantages And Disadvantages ◽  
Bilateral Trade Agreement ◽  
The Usa ◽  
The Impact ◽  
The Eu

Abstract To success on international markets, individual economies are trying to take measures to increase their efficiency, flexibility and competitiveness. There is a liberalization of tariff and non-tariff barriers mainly due to trade based on regional integration. Among such agreements belong also the Transatlantic Trade and Investment Partnership (TTIP) between the EU and the USA, which represent the largest economies in the world. The paper analyses developed scientific studies that assess the economic impact, advantages and disadvantages of closer economic cooperation. However, it reflects not only the economic but also foreign policy importance of this partnership. In the case of signing the TTIP, it would become the most important bilateral trade agreement ever, both in terms of international trade as well as in terms of the impact on international trade as a whole.

The Effect of Membership in the European Monetary Union on Trade Between Member Countries (An Empirical Study)

2006 ◽  
Author(s):  
Ihor Soroka
Keyword(s):  
Monetary Union ◽  
European Monetary Union ◽  
Bilateral Trade ◽  
Trade Agreement ◽  
Monetary Integration ◽  
European Monetary ◽  
Trade Relations ◽  
Euro Adoption ◽  
Short Period ◽  
Short Run

The question of whether or not to adopt the euro is a very important one, not only for the 13 European Union members that do not share the same currency, but also for future EU candidates. Current literature on the effect of the euro on trade is scarce since the European Monetary Union (EMU) was officially created in 1999, and up until recently there has not been enough data to analyze this issue. This paper aims to estimate the effect of the euro on trade between member countries using the standard gravity model of trade. Using data from current 25 EU members over the period from 1997 to 2004, I show that higher trade volumes between EMU members cannot be attributed to the adoption of the euro. I find evidence that the euro adoption has had a short-run effect on bilateral trade and that this effect is eliminated over a short period of time. My findings suggest that members of the EMU trade on average from 8.8% to 47% more compared to non-members depending on the type of regression used, while members of the Free Trade Agreement trade 61.3% more. The effect of the euro on trade is eliminated as soon as I control for country-pair specific effects that include the FTA effect as well as history of trade relations between two countries. I conclude that the adoption of the euro should be seen as a final step in the European economic and monetary integration for countries that already benefit from relatively high volumes of bilateral trade. Full text availale at: https://doi.org/10.22215/rera.v2i1.166

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 Effect of Membership in the European Monetary Union on Trade Between Member Countries (An Empirical Study)

2006 ◽  
Vol 2 (1) ◽  
Author(s):  
Ihor Soroka
Keyword(s):  
Monetary Union ◽  
European Monetary Union ◽  
Bilateral Trade ◽  
Trade Agreement ◽  
Monetary Integration ◽  
European Monetary ◽  
Trade Relations ◽  
Euro Adoption ◽  
Short Period ◽  
Short Run

The question of whether or not to adopt the euro is a very important one, not only for the 13 European Union members that do not share the same currency, but also for future EU candidates. Current literature on the effect of the euro on trade is scarce since the European Monetary Union (EMU) was officially created in 1999, and up until recently there has not been enough data to analyze this issue. This paper aims to estimate the effect of the euro on trade between member countries using the standard gravity model of trade. Using data from current 25 EU members over the period from 1997 to 2004, I show that higher trade volumes between EMU members cannot be attributed to the adoption of the euro. I find evidence that the euro adoption has had a short-run effect on bilateral trade and that this effect is eliminated over a short period of time. My findings suggest that members of the EMU trade on average from 8.8% to 47% more compared to non-members depending on the type of regression used, while members of the Free Trade Agreement trade 61.3% more. The effect of the euro on trade is eliminated as soon as I control for country-pair specific effects that include the FTA effect as well as history of trade relations between two countries. I conclude that the adoption of the euro should be seen as a final step in the European economic and monetary integration for countries that already benefit from relatively high volumes of bilateral trade.

scholarly journals Development of trade and economic cooperation between China and Russia in new geopolitical conditions

2019 ◽  
Vol 2 (51) ◽  
pp. 25-39
Author(s):  
A.V. Brizitskaya
Keyword(s):  
United States ◽  
Bilateral Trade ◽  
The United States ◽  
Agricultural Products ◽  
Political Life ◽  
Trade Relations ◽  
Cross Border ◽  
Modern Period ◽  
The World ◽  
Trade War

The article analyzes the trade relations between Russia and China in the modern period characterized by changes in the situation on the world stage and in the domestic political life of countries. The dynamics and commodity structure of bilateral trade of Russia and China have been studied, the Index of trade com-plementarity has been calculated, which showed that Chinese exports are more complementary to the structure of Russian imports than vice versa. Emphasis is placed on traditional trade in goods, excluding services and cross-border e-Commerce. The paper identifies two main directions which the development of Russian exports to China can take in the conditions of the "trade war" of China and the United States. The short-sighted policy of increasing only fuel and energy exports is justified. The reasons hindering the development of non-resource exports of Russia, primarily agricultural products and food, to China have been identified.

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