Substitution effect in high-tech industry in the USA in foreign trade share and domestic market protection

The transition to the sixth technological order, characterized by the systemic elements of the information revolution, requires a comprehensive analysis of the aggregate dynamic processes trade operations in the context of the respective commodity groups. Using the traditional methods of the statistical and economic method, in general terms, reduced to the formula: "domestic production + import - export", the relative quantitative indicators of the share of imports and exports of products of the leading high-tech industries of the United States were calculated for specific periods of time in the period 1951–2020, correlated with domestic production for the same period. Thus, an assessment of the impact of the "substitution effect" in the high-tech industry of the United States is given in relation to the volume of exports and imports in the context of certain groups of analyzed industries. The empirical results obtained contributed to the identification of trends in the regulation of American imports of high-tech industry products to protect the domestic market under the influence of the substitution effect in US foreign trade in the period under consideration. The main conclusion is that the priority in the focus of American foreign trade policy in terms of protecting the domestic market of high-tech industrial products, was and remains a flexible, expedient (in terms of substitution and integration vectors) combination of tariff and non-tariff restrictions on imports.

The Impact of Trade Deficit in Nepalese Economy

The objective of this paper is to study and analyze the growth and direction of Nepalese foreign trade along with the causes and recommendations of trade deficit. Efforts have been made to sort out the principal sources of the trade deficit in Nepal. Landlockedness, political instability, lack of export diversification, devaluation of domestic currency, lack of resources, etc. are the major causes of the trade deficit in Nepal. Nepal, being not self-reliant on factors of production, consumer goods and capital goods, needs to import goods from abroad. On another hand, Nepal’s exports are heavily concentrated; both in terms of product and destination. Nepal’s major trading partners are India, China, U.A.E, etc. During the year 2019/20, Nepal exports goods worth RS. 97.71 Billion And import goods worth RS. 1196.80 billion Leading to a trade deficit of Rs.1099.09 Billion. Trade deficit is acting as negative catalyst in the economic growth and GDP of a country. Increased deficit has caused suppressed inflation. Import to export ratio is continuously increasing as demand is increasing and these demands could not be met by the domestic producers. During the year 2019/20, the contribution of trade on GDP of Nepal is 40.65%. No doubt, trade is an engine of economic growth. So, after analyzing barriers in the foreign trade, some of the steps to be taken are recommended which includes the development of competitive ability and enhancement of Human Resources, commodity and market diversification, formulation of strong legal framework and trade policy, incentives for the promotion of export and priority in the agricultural and hydropower sectors.

DYNAMIC AND STRUCTURAL DISPROPORTATIONS OF THE BALANCE IN FOREIGN TRADE IN TEXTILE GOODS OF THE EAEU AND BELARUS

The article is devoted to the study of the balance of foreign trade in textile goods (C13) in two directions: on the one hand, the EAEU in mutual trade and with third countries, on the other hand, Belarus in mutual trade with the EAEU member states and third countries. A comparative analysis of the dynamics and changes in the structure of key indicators of foreign trade in the context of the main commodity groups, goods and key foreign trade partners has been carried out. The author identified the reasons and factors that have a negative impact on the dynamics of the balance of foreign trade in textiles between the EAEU and Belarus in order to make management decisions.

An empirical analysis of driving factors of Xi’an hub economic development

In order to promote Xi’an’s economic development as an export-oriented hub, 7 indicators, including GDP, foreign trade volume, investment volume, passenger transport volume, freight volume, post and telecommunications business income, and the number of industrial enterprises above designated size, are selected to analyze the development of the hub economy through multiple linear regression analysis method. The results show that foreign trade, passenger traffic and post and telecommunications business revenues are significant to the economic development of Xi’an hub. However, the freight volume, investment and the number of enterprises above designated size have not passed the inspection. According to self-organization theory, the countermeasures for Xi’an to develop the hub economy are puts forward.

The Negative Effects of COVID-19 on the Sustainable Development Goals, Economic Growth, Foreign Trade, and Social Life

COVID-19 affected the health system, education system, production system, foreign trade, social life, and the status quo negatively, and the new normal era will change many attitudes and habits. The pandemic caused the failure of the health system capacity and negatively affected the decent work and economic growth and the fight with the poverty. The pandemic is not a single country's problem anymore; it is a global problem against humanity and human development, which needs a global partnership. As of the end of April 2021, the number of COVID-19-related cases exceeded 150 million, while the number of deaths reached nearly 3.2 million. The vaccination started in December, and more than one billion vaccine doses have been administered all over the world. Whether the vaccine can be accessed by every country will remain another question. This study aims to investigate the negative effects of COVID-19 on SDGs and to analyse the struggle of a rising social nation.