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Author: Alberto Cavallo Publisher: International Monetary Fund ISBN: 1513518380 Category : Business & Economics Languages : en Pages : 37
Book Description
We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers, and exporters. We start by documenting that the tariffs were almost fully passed through to total prices paid by importers, suggesting the tariffs' incidence has fallen largely on the United States. Since we estimate the response of prices to exchange rates to be far more muted, the recent depreciation of the Chinese renminbi is unlikely to alter this conclusion. Next, using product-level data from several large multi-national retailers, we demonstrate that the impact of the tariffs on retail prices is more mixed. Some affected product categories have seen sharp price increases, but the difference between affected and unaffected products is generally quite modest, suggesting that retail margins have fallen. These retailers' imports increased after the initial announcement of possible tariffs, but before their full implementation, so the intermediate passthrough of tariffs to their prices may not persist. Finally, in contrast to the case of foreign exporters facing US tariffs, we show that US exporters lowered their prices on goods subjected to foreign retaliatory tariffs compared to exports of non-targeted goods.
Author: Alberto Cavallo Publisher: International Monetary Fund ISBN: 1513518380 Category : Business & Economics Languages : en Pages : 37
Book Description
We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers, and exporters. We start by documenting that the tariffs were almost fully passed through to total prices paid by importers, suggesting the tariffs' incidence has fallen largely on the United States. Since we estimate the response of prices to exchange rates to be far more muted, the recent depreciation of the Chinese renminbi is unlikely to alter this conclusion. Next, using product-level data from several large multi-national retailers, we demonstrate that the impact of the tariffs on retail prices is more mixed. Some affected product categories have seen sharp price increases, but the difference between affected and unaffected products is generally quite modest, suggesting that retail margins have fallen. These retailers' imports increased after the initial announcement of possible tariffs, but before their full implementation, so the intermediate passthrough of tariffs to their prices may not persist. Finally, in contrast to the case of foreign exporters facing US tariffs, we show that US exporters lowered their prices on goods subjected to foreign retaliatory tariffs compared to exports of non-targeted goods.
Author: Stewart Paterson Publisher: London Publishing Partnership ISBN: 1907994823 Category : Business & Economics Languages : en Pages : 175
Book Description
From a Western point of view, the policy of economic engagement with China has failed. A rapid rise in living standards in China has helped legitimize and strengthen the Chinese Communist Party’s power. How did Western, market-orientated, property-owning, liberal democracies go from being in a position of complete global hegemony in the early 1990s to the current crisis of confidence and loss of moral foundation? This book tells the story of the most successful trading nation of the early twenty-first century. It looks at how the Communist Party of China has retained and cemented its monopoly on political power since China’s accession to the World Trade Organization in December 2001. It is the most extraordinary economic success story of our time and it has reshaped the geopolitics not just of Asia but of the world. As China has come to dominate global manufacturing, its economic power has been translated into political power, and the West now has a global rival that is politically antithetical to liberal values. The supply-side deflation from allowing 750 million low-cost workers into the global trading system combined with the policy of inflation targeting by Western central banks has led to falling real incomes for many in the West and rising asset prices that have benefited the few. Worse still, China’s mercantilist model is now held up as a viable economic alternative. To have a fighting chance of protecting the freedoms of liberal democracies, it is of the utmost importance that we understand how the policy of indulgent engagement with China has affected Western society in recent years. Only then can the global trading system be reoriented for the mutual benefit of all nations.
Author: Robert C. Feenstra Publisher: University of Chicago Press ISBN: 0226239721 Category : Business & Economics Languages : en Pages : 603
Book Description
In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.
Author: Paul Blustein Publisher: McGill-Queen's Press - MQUP ISBN: 1928096867 Category : Business & Economics Languages : en Pages : 249
Book Description
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: Matthew C. Klein Publisher: Yale University Press ISBN: 0300244177 Category : Business & Economics Languages : en Pages : 292
Book Description
"This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.
Author: U. S. Customs and Border Protection Publisher: ISBN: 9781304100061 Category : Education Languages : en Pages : 0
Book Description
Explains process of importing goods into the U.S., including informed compliance, invoices, duty assessments, classification and value, marking requirements, etc.
Author: Alain Le Pichon Publisher: Oxford University Press ISBN: 9780197263372 Category : Business & Economics Languages : en Pages : 672
Book Description
263 letters written by or to William Jardine and James Matheson... covers a period of rapid growth for Jardine, Matheson & Co, from 1827 when the founders first joined forces, to Jardine's death in 1843, shortly after the end of the Opium War
Author: David B. H. Denoon Publisher: NYU Press ISBN: 1479890332 Category : Political Science Languages : en Pages : 430
Book Description
Provides insight into U.S. and Chinese involvement in aid, trade, direct investment and strategic ties in Latin America In recent years, China has become the largest trading partner for more than half the countries in Latin America, and demonstrated major commitments in aid and direct investment in various parts of the region. China has also made a number of strategic commitments to countries like Nicaragua, Cuba, and Venezuela which have long-standing policies opposing U.S. influence in the region. China, the United States, and the Future of Latin America posits that this activity is a direct challenge to the role of the U.S. in Latin America and the Caribbean. Part of a three-volume series analyzing U.S.-China relations in parts of the world where neither country is dominant, this volume analyzes the interactions between the U.S., China, and Latin America. The book series has so far considered the differences in operating styles between China and the U.S. in Central Asia and Southeast Asia. This third volume unpacks the implications of competing U.S. and Chinese interests in countries such as Brazil and Argentina, and China’s commitments in Nicaragua and Venezuela. This volume draws upon a variety of policy experts, focusing on the viewpoints of South American and Caribbean scholars as well as scholars from outside states. China’s new global reach and its ambitions, as well as the U.S. response, are analyzed in detail.A nuanced examination of current complexities and future implications, China, the United States and the Future of Latin America provides readers with varied perspectives on the changing economic and strategic picture in Latin America and the Caribbean.
Author: Etel Solingen Publisher: Cambridge University Press ISBN: 110883356X Category : Business & Economics Languages : en Pages : 321
Book Description
An accessible overview of political, economic, and strategic dimensions of global supply chains in a changing global political economy.
Author: William Anthony Lovett Publisher: M.E. Sharpe ISBN: 9780765603241 Category : Business & Economics Languages : en Pages : 244
Book Description
A critical review of recent U.S. trade policies that have failed to enforce sufficient reciprocity and overall trade balance, with suggestions for policies that foster a more balanced and realistic pattern of world trade growth.
Author: Alberto Cavallo
Author: Alberto Cavallo
Author: Stewart Paterson
Author: Robert C. Feenstra
Author: Paul Blustein
Author: Matthew C. Klein
Author: U. S. Customs and Border Protection
Author: Alain Le Pichon
Author: David B. H. Denoon
Author: Etel Solingen
Author: William Anthony Lovett