China-U.S. Trade Issues PDF Download

Author: Wayne M. Morrison
Publisher:
ISBN:
Category : China
Languages : en
Pages : 28

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Author: Wayne M. Morrison
Publisher: DIANE Publishing
ISBN: 1437980856
Category : China
Languages : en
Pages : 37

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Book Description

Author: Wayne M. Morrison
Publisher:
ISBN:
Category : China
Languages : en
Pages : 15

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Book Description

Author: Wayne M. Morrison
Publisher:
ISBN:
Category : China
Languages : en
Pages : 16

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Author: Paul Blustein
Publisher: McGill-Queen's Press - MQUP
ISBN: 1928096867
Category : Business & Economics
Languages : en
Pages : 249

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China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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U.S.-China economic ties have expanded substantially over the past several years. Total U.S.-China trade, which totaled only $5 billion in 1980, rose to $285 billion in 2005. China is now the third largest U.S. trading partner, its second largest source of imports, and its fourth largest export market. With a huge population and a rapidly expanding economy, China is becoming a large market for U.S. exporters. Yet, U.S.-China commercial ties have been strained by a number of issues, including a surging U.S. trade deficit with China (which totaled $202 billion in 2005), China's refusal to float its currency, and failure to fully comply with its World Trade Organization (WTO) commitments, especially its failure to provide protection for U.S. intellectual property rights (IPR). The continued rise in the U.S.-China trade imbalance, complaints from several U.S. manufacturing firms over the competitive challenges posed by cheap Chinese imports, and concerns that U.S. manufacturing jobs are being lost due to unfair Chinese trade practices have led several Members to call on the Bush Administration to take a more aggressive stance against certain Chinese trade policies deemed to be unfair. For example, some Members argue that China manipulates its currency vis-avis the dollar to make its exports cheaper, and imports more expensive, than they would be under a floating system. The threat of congressional legislation led China in July 2005 to appreciate its currency by 2.1% and to switch to an exchange rate system based on a basket of currencies (including the dollar). However, many U.S. policymakers charge that these reforms have not gone far and have warned of potential congressional action if China fails to make further reforms. China joined the WTO in 2001, and U.S. officials continue to closely monitor China's compliance with its WTO commitments. A major concern to U.S. policymakers regarding China's WTO commitments has been its failure to implement an effective strategy to combat widespread IPR piracy in China. Although China has enacted a number of strict IPR laws and regulations, U.S. firms charge that enforcement is lax and ineffective and costs U.S. firms billions of dollars in lost sales annually. On October 26, 2005, the United States initiated a special process under WTO rules to obtain detailed information on China's IPR enforcement efforts. If China fails to comply with this request, the United States might choose to bring a dispute resolution case against it in the WTO. In addition, on March 30, 2006, the United States initiated a WTO case against China over its discriminatory tax treatment of imported auto parts. This report replaces IB91121, U.S.-China Trade Issues, by Wayne M. Morrison, and will be updated as events warrant.

Author: Congressional Research Congressional Research Service
Publisher: CreateSpace
ISBN: 9781505903768
Category :
Languages : en
Pages : 58

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U.S.-China economic ties have expanded substantially over the past three decades. Total U.S.-China trade rose from $2 billion in 1979 to $562 billion in 2013. China is currently the United States' second-largest trading partner, its third-largest export market, and its biggest source of imports. China is estimated to be a $350 billion market for U.S. firms (based on U.S. direct and indirect exports to China and sales by U.S.-invested firms in China). Many U.S. firms view participation in China's market as critical to staying globally competitive. General Motors (GM), for example, which has invested heavily in China, sold more cars in China than in the United States each year from 2010 to 2013. In addition, U.S. imports of low-cost goods from China greatly benefit U.S. consumers, and U.S. firms that use China as the final point of assembly for their products, or use Chinese-made inputs for production in the United States, are able to lower costs. China is the largest foreign holder of U.S. Treasury securities (nearly $1.25 trillion as of October 2014). China's purchases of U.S. government debt help keep U.S. interest rates low. Despite growing commercial ties, the bilateral economic relationship has become increasingly complex and often fraught with tension. From the U.S. perspective, many trade tensions stem from China's incomplete transition to a free market economy. While China has significantly liberalized its economic and trade regimes over the past three decades, it continues to maintain (or has recently imposed) a number of state-directed policies that appear to distort trade and investment flows. Major areas of concern expressed by U.S. policy makers and stakeholders include China's relatively poor record of intellectual property rights (IPR) enforcement and alleged widespread cyber economic espionage against U.S. firms by Chinese government entities; its mixed record on implementing its World Trade Organization (WTO) obligations; its extensive use of industrial policies (such as financial support of state-owned firms, trade and investment barriers, and pressure on foreign-invested firms in China to transfer technology in exchange for market access) in order to promote the development of industries favored by the government and protect them from foreign competition; and its policies to hold down the value of its currency. Many U.S. policy makers argue that such policies negatively impact U.S. economic interests and have contributed to U.S. job losses. There are a number of views in the United States over how to more effectively address commercial disputes with China:

Author: Congressional Research Service
Publisher: Createspace Independent Publishing Platform
ISBN: 9781542449472
Category :
Languages : en
Pages : 84

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U.S.-China economic ties have expanded substantially over the past three decades. Total U.S.-China trade rose from $2 billion in 1979 (when economic reforms began) to $599 billion in 2015. In 2015, China was the United States' second-largest trading partner, its third-largest export market, and its biggest source of imports. According to one source, China is a $400 billion market for U.S. firms when U.S. services exports to China, sales by U.S. foreign affiliates in China, and reexports of U.S. products through Hong Kong to China are factored in. Many U.S. firms view participation in China's market as critical to staying globally competitive. General Motors (GM), for example, which has invested heavily in China, sold more cars in China than in the United States each year from 2010 to 2015. In addition, U.S. imports of lower-cost goods from China greatly benefit U.S. consumers, and U.S. firms that use China as the final point of assembly for their products, or use Chinese-made inputs for production in the United States, are able to lower costs. China is the second largest foreign holder of U.S. Treasury securities ($1.1 trillion as of October 2016), and its purchases of U.S. government debt help keep U.S. interest rates low. Despite growing commercial ties, the bilateral economic relationship has become increasingly complex and often fraught with tension. From the U.S. perspective, many trade tensions stem from China's incomplete transition to a free market economy. While China has significantly liberalized its economic and trade regimes over the past three decades, it continues to maintain (or has recently imposed) a number of state-directed policies that appear to distort trade and investment flows. Major areas of concern expressed by U.S. policymakers and stakeholders include China's alleged widespread cyber economic espionage against U.S. firms; relatively ineffective record of enforcing intellectual property rights (IPR); discriminatory innovation policies; mixed record on implementing its World Trade Organization (WTO) obligations; extensive use of industrial policies (such as financial support of state-owned firms and trade and investment barriers) in order to promote and protect industries favored by the government; and interventionist policies to influence the value of its currency. Many U.S. policymakers argue that such policies adversely impact U.S. economic interests and have contributed to U.S. job losses. There are different views on how the United States could better address commercial disputes with China. Some contend that the United States should take a more aggressive stance against China's trade policies, such as by increasing the number of U.S. WTO dispute settlement cases brought against China, expanding the use of U.S. trade remedy laws on certain imports from China, designating it as a "currency manipulator" and/or threatening to impose sanctions against China unless it addresses various policies, such as cyber theft of U.S. business trade secrets, that hurt U.S. economic interests. Others contend that U.S. trade policy towards China should focus on intensifying and broadening ongoing bilateral dialogues and trade negotiations, such as the U.S.-China Strategic and Economic Dialogue (S&ED), which was established in part to discuss global and bilateral economic and trade issues. Another objective often cited is to complete ongoing bilateral and pluriateral negotiations involving China that would produce agreements expanding market access in China, including a U.S.-China bilateral investment treaty (BIT), China's accession to the WTO's Procurement Agreement (GPA), and a WTO plurilateral environment goods agreement (EGA). This report provides background and analysis of U.S.-China commercial ties, including history, trends, issues, and outlook.

Author: Lawrence J. Lau
Publisher: The Chinese University Press
ISBN: 9882371124
Category : Political Science
Languages : en
Pages : 216

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The relation between China and the United States is arguably the most important bilateral relation in the world today. The U.S. and China are respectively the largest and the second largest economies in the world. They are also respectively the largest and the second largest trading nations in the world as well as each other’s most important trading partner. If China and the U.S. work together as partners towards a common goal, many things are possible. However, there exist significant friction and potential conflict in their economic relations. The large and persistent U.S.-China bilateral trade deficit is one of the problems. It is essential to know the true state of the China-U.S. trade balance before effective solutions can be devised to narrow the trade surplus or deficit. The impacts and potential impacts of the 2018 trade war between China and the U.S. on the two economies are analysed and discussed. The longterm forces that underlie the economic relations between the two countries beyond the 2018 trade war are examined. In this connection, how a “new type of major-power relation” between the two countries can help to keep the competition friendly and avert a war between them is explored. ~~~~~~~~ Lawrence J. Lau’s timely The China-U.S. Trade War and Future Economic Relations is full of careful analysis, penetrating insight and helpful suggestions from the world’s preeminent economist on this relationship. —Michael J. Boskin Tully M. Friedman Professor of Economics, Stanford University Former Chair, U.S. President’s Council of Economic Advisers This sober and systematic study of U.S.-China trade relations and of technological development in the two countries is particularly timely. Lawrence Lau is one of the world’s foremost economists working on these issues. —Dwight H. Perkins Harold Hitchings Burbank Professor of Political Economy, Emeritus Former Chair, Department of Economics, Harvard University This is a timely and penetrating analysis of the China-U.S. trade and economic relations, from its origins to its impacts and to a way forward. —Yingyi Qian Chairman of the Council, Westlake University Former Dean, School of Economics and Management, Tsinghua University Counsellor of the State Council, People’s Republic of China Lawrence Lau’s book on the current U.S.-China trade war is insightful, balanced and comprehensive; rich in data on trade, investment, science and technology. It is essential reading for anyone who wants to get past the headlines. —A. Michael Spence Nobel Laureate in Economic Sciences (2001) Senior Fellow, The Hoover Institution, Stanford University Lawrence Lau brings light in the form of rigorous honest fact-based economic analysis to a subject where most of the discussion has been heated bluster, false claims, and political rhetoric. —Lawrence H. Summers Former U.S. Secretary of the Treasury; Former President, Harvard University There is no topic more important, or more timely, or more urgent, than the China-U.S. trade war. Professor Lau is the ideal person to write about the implications of the China-U.S. trade war and the proposed resolution. —Tung Chee-Hwa Vice-Chairman, Chinese People’s Political Consultative Conference National Committee Chairman, China-U.S. Exchange Foundation The history of Sino-American relations, to a great extent, has been a shared history. Lawrence Lau’s timely and penetrating study will tell us it is still in best interest for both countries if they continue to pursue a shared journey and destination instead of parting ways. —Xu Guoqi Kerry Group Professor in Globalization History, The University of Hong Kong Author of Chinese and Americans: A Shared History This beautifully composed book uses nontechnical language to unravel the intricacies of the 2018 U.S.-China trade war, together with its long-term impact. I learned a lot from reading it. —Chen-Ning Yang Nobel Laureate in Physics (1957)

Author: Congressional Research Service: The Libr
Publisher: BiblioGov
ISBN: 9781294025382
Category :
Languages : en
Pages : 22

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U.S.-China economic ties have expanded substantially over the past several years. Total U.S.-China trade rose from $5 billion in 1980 to an estimated $231 billion in 2004. China is now the third-largest U.S. trading partner, its second-largest source of imports, and its fifthlargest export market. With a huge population and a rapidly expanding economy, China is becoming a large market for U.S. exporters. Yet, U.S.-China commercial ties have been strained by a number of issues, including a surging U.S. trade deficit with China ($162 billion in 2004), lax protection of U.S. intellectual property rights (IPR), widespread trade barriers, and China's pegged currency policy. China joined the World Trade Organization (WTO) on December 11, 2001. WTO membership requires China to eliminate or reduce an extensive array of tariff and nontariff barriers on goods, services, and foreign investment. In December 2004, the U.S. Trade Representative (USTR) issued its third annual China WTO compliance report, stating that, while China's efforts to implement its WTO commitments have been "impressive," they remain "far from complete and have not always been satisfactory." Major areas of concern identified by the USTR's report include IPR protection, agriculture, services, industrial policies, trading rights and distribution, and transparency of trade ...