This paper calculates the China-U.S. trade balance from the national income perspective based on an input-output model that differentiates domestic and foreign-invested companies. The result shows that due to differen...This paper calculates the China-U.S. trade balance from the national income perspective based on an input-output model that differentiates domestic and foreign-invested companies. The result shows that due to different degrees of dependence of both countries on foreign production factors such as foreign capital for the manufacturing of export goods,only 87.7% of the domestic value-added created by China's exports to the U.S. in 2012 was China's national income, whereas 96.2% of value-added in U.S. exports to China was U.S.national income. In the comparison of total export volume and export value-added, the home country's national income created by exports can more realistically reflect a country's gains from trade. In 2012, China's trade surplus with the U.S. stood at 102.8 billion US dollars in national income terms, which is 61% and 22% smaller than the results in gross and value-added terms, respectively. The implication is that the traditional trade balance accounting method seriously exaggerates the China-U.S. trade imbalance.展开更多
China-U.S.trade has expanded rapidly over the past three decades,during which China’s trade deficit has turned into atrade surplus.China’s exports to the United States account for 20 percent of China’s total export...China-U.S.trade has expanded rapidly over the past three decades,during which China’s trade deficit has turned into atrade surplus.China’s exports to the United States account for 20 percent of China’s total export trade,but the United States’exports to China make up less than 10 percent of its export trade.The trade dependence ratio of the two countries has adifference of up to 27 percentage points.While China’s economy and foreign trade become increasingly market-oriented,the U.S.implements long-term export restriction policies against it.Raising the degree of marketization of trade betweenChina and the U.S.is the key to redressing the China-U.S.trade imbalance.展开更多
This article utilizes a large amount of statistical data to analyze the global distribution of foreign trade in China since 1990,as well as the factors involved and the changes in trends.The research results indicate ...This article utilizes a large amount of statistical data to analyze the global distribution of foreign trade in China since 1990,as well as the factors involved and the changes in trends.The research results indicate that China has gained a favourable balance against developed countries and a disadvantageous balance against developing countries;China enjoys a trade surplus with North American and European countries while suffering deficits with those in the Asia.pacific region,as well as with resource-abundant Australia,Africa and South America. With regard to trends,the structure of China’s foreign trade will not undergo fundamental changes in the short term,but in the long run will be transformed in line with restructuring of the growth pattern.展开更多
After the Kyoto Protocol was implemented,carbon leakage exerts great influences on international trade and economy.Trade creates a mechanism for consumers to shift environmental pollution associated with their consump...After the Kyoto Protocol was implemented,carbon leakage exerts great influences on international trade and economy.Trade creates a mechanism for consumers to shift environmental pollution associated with their consumption to other countries.China has overtaken the U.S.as the world's biggest CO2 emitter since 2006.As China's second largest trade partner,the U.S.has the biggest trade deficit with China which has aroused a lot of disputes between the two parties.But so far the assessments of the trade imbalance of China-U.S.have paid little attention to environmental impacts associated with the trade imbalance.Applied an input-output approach,the article estimates the amount of CO2 embodied in China-U.S.trade during 1997-2007.It was found that through trade with China,the U.S.reduced its CO2 emissions compared with a non-trade scenario.Due to the greater carbon-intensity and relatively less efficient production processes of Chinese industry,China-U.S.trade resulted in more CO2 emissions in China and the world.In the end,the article gives some suggestions:it is equal and sustainable that the international accounting methodologies should be improved,for CO2 emissions responsibility must be designed to account for the dynamic nature of international trade.展开更多
At present China-U.S.trade relations are in a state of confusion.Although both countries have gained tremendous benefits from the bilateral trade relationship,some Americans have intentionally distorted some basic fac...At present China-U.S.trade relations are in a state of confusion.Although both countries have gained tremendous benefits from the bilateral trade relationship,some Americans have intentionally distorted some basic facts regarding China-U.S.trade relations. Based on an analysis of some official and nonofficial research reports published in the United States,this article holds that the China-U.S.trade imbalance is the symptom of a bigger issue stemming from the contradiction between the United States as the world's sole superpower and China as an emerging power.Economic globalisation came about due to the needs of western developed countries represented by the United States to boost economic development.Only by seizing the opportunities of economic globalisation, has China gained strong economic growth. Such a development is changing the world political,economic,military and cultural landscape that have been shaped since the post-cold-war era,and has to some extent raised doubt or suspicion on the part of the United States and its western allies.This is a manifestation of how unprepared some people in the United States and other western countries are in the face of China's rapid development and rising status.So,their immediate reaction has been to seek protection for themselves,and try their utmost to prevent China's rapid growth from impacting on the international framework and their vested interests.展开更多
Using input-output tables of China and the U.S., this paper has calculated the pollution embodied in trade and structure of pollution, the balance of emissions embodied in trade （BEET） and the pollution terms of tra...Using input-output tables of China and the U.S., this paper has calculated the pollution embodied in trade and structure of pollution, the balance of emissions embodied in trade （BEET） and the pollution terms of trade （PTT） for 18 manufacturing sectors of China and the US. between 2001 and 2010. The calculation aims to verify whether China has become a ＂pollution haven＂ in bilateral trade with developed countries represented by the U.S., and whether Chinese exports are ＂dirtier＂ compared with imports from the U.S., and further conducting an industry structure analysis and effect decomposition study on pollution embodied in trade in industrial goods between China and U.S.. Result of our research indicates that according to our calculation of the BEET, China remains a country with environmental deficits in bilateral trade with the U.S. while the gaps between pollution embodied in China＇s export and import are narrowing. Pollution embodied in China＇s export has the tendency of increase before decline while pollution embodied in import demonstrates no significant tendency of decline. Through effect decomposition, we further found that the effect of technology arising from the substantial decline of pollution intensity effectively lowered pollution embodied in export and narrowed the environmental deficits of China in its bilateral trade. The effect of scale arising from growing export volumes significantly increased China＇s environmental deficits while the structural effect arising from changes in the structure of import and export is insignificant in reducing environmental deficits. Our calculation of the PTT led to the finding that China＇s export goods are more pollution intensive compared with import goods and that the structure of US exports to China is cleaner than the structure of Chinese exports to the US., which requires further improvements of China＇s import and export structure.展开更多
The China—U.S.Agricultural CooperationAgreement is a prelude to China’s accessionto the World Trade Organization(WTO).The basic framework is built,though someDarts are still to be discussed.From a macro prospective,...The China—U.S.Agricultural CooperationAgreement is a prelude to China’s accessionto the World Trade Organization(WTO).The basic framework is built,though someDarts are still to be discussed.From a macro prospective,the exportVolume of U.S.agricultural products to Chinawill increase,and vise versa.But the sharein the total trade Volume is dropping.Firstly,no matter how flexible展开更多
China and the United States concluded the 22nd session of the U.S.-China Joint Commission on Commerce and Trade (JCCT) on November 21 in Chengdu, China. Chinese Vice Premier Wang Qishan cochaired the two-day meeting w...China and the United States concluded the 22nd session of the U.S.-China Joint Commission on Commerce and Trade (JCCT) on November 21 in Chengdu, China. Chinese Vice Premier Wang Qishan cochaired the two-day meeting with U.S. Secretary of Commerce John Bryson and U.展开更多
Dr.Elliot Feldman on April 15,2010 presented the following speech at AmCham-China's Conference of the Asia-Pacific Council of American Chambers of Commerce(APCAC).With his kind approval,China Textile publishes his...Dr.Elliot Feldman on April 15,2010 presented the following speech at AmCham-China's Conference of the Asia-Pacific Council of American Chambers of Commerce(APCAC).With his kind approval,China Textile publishes his study and views focused on the title as captioned above.The article expresses the author's own stance.展开更多
The objective of this paper is to investigate the dynamic relationship between China′s trade balance (T) and macroeconomic variables: domestic and foreign output (Y and Y\+* ), real exchange rate (E), domestic...The objective of this paper is to investigate the dynamic relationship between China′s trade balance (T) and macroeconomic variables: domestic and foreign output (Y and Y\+* ), real exchange rate (E), domestic and foreign money supply (M and M\+*). The ADF Unit Root results show that the variables are all integrated of order I (1). The trade balance in China is not cointegrated with a number of variables, including the exchange rate. Absorption, elasticity, and monetary models are compared, and the elastic model performs better. There has been J\| curve in China, and the devaluations have had significant effect on the trade balance.展开更多
The U.S. Government has unilaterally provoked and escalated trade friction with China since last year, casting a shadow on the China-U.S. trade relationship and the development of the world economy. Qiushi Journal,aff...The U.S. Government has unilaterally provoked and escalated trade friction with China since last year, casting a shadow on the China-U.S. trade relationship and the development of the world economy. Qiushi Journal,affi liated with the Communist Party of China Central Committee, published an article in its 12th issue of 2019, clarifying questions regarding China-U.S.trade friction. An excerpt of the article follows:展开更多
A World Trade Organization （WTO） panel report published on October 19 has ruled that the United States violated WTO rules in 13 antiumping measures imposed on imports from China. China＇s Ministry of Commerce welcom...A World Trade Organization （WTO） panel report published on October 19 has ruled that the United States violated WTO rules in 13 antiumping measures imposed on imports from China. China＇s Ministry of Commerce welcomed the ruling and urged the United States to respect the decision and rectify its trade remedies in order to ensure a fair international trade environment.展开更多
The Office of the U.S. Trade Representative （USTR） sub- mitted in mid-November a statement to the VVTO refusing to grant market economy status （MES） to China. The U.S. decision, which was made public on November 3...The Office of the U.S. Trade Representative （USTR） sub- mitted in mid-November a statement to the VVTO refusing to grant market economy status （MES） to China. The U.S. decision, which was made public on November 30, confirms that it holds the same po- sition as the EU of opposing China ＂automatically＇ obtaining MES. The USTR submitted the statement as a third-party brief in support of the EU. In December 2016, China brought a case against the EU because the latter refused to grant MES to China and continued using the surrogate country approach in its anti-dump- ing cases against China.展开更多
Donald Trump’s trade war with China does not make economic sense,but he does not face much domestic opposition to this trade war.Moreover,it is a part of a broader strategy of the nationalistic Americans’attempt to ...Donald Trump’s trade war with China does not make economic sense,but he does not face much domestic opposition to this trade war.Moreover,it is a part of a broader strategy of the nationalistic Americans’attempt to suppress the rise of China.Would China give in to the requests of the US under the threat of the escalation of the trade war?In what way?My conjecture is that China is willing to compromise up to a point.What China is likely to do is to promise to buy more goods and services from the US,allow greater market access for American firms,reduce Chinese subsidies to its industries,reduce forced technology transfers by American firms,strengthen enforcement of intellectual property rights protection and make verification all these commitments more transparent.Although the US might stop escalating the trade war,it is likely that the tariffs already imposed on Chinese goods would not be removed soon.In response to that,China also would not remove most of those tariffs already imposed on imports from the US,in keeping with the spirit of the tit-for-tat policy.It is possible that a temporary ceasefire is agreed,but the trade war can last for a long time.The final assembly stage of many industries might leave China,but not necessarily the whole production process.Hong Kong can be a victim of the trade war if it escalates.展开更多
基金supported by the National Natural Science Foundation of China (NSFC) projects (71473244, 61873261 and 71704195)the Fundamental Research Funds for the Central Universities,the University of International Business and Economics (CXTD7-06)
文摘This paper calculates the China-U.S. trade balance from the national income perspective based on an input-output model that differentiates domestic and foreign-invested companies. The result shows that due to different degrees of dependence of both countries on foreign production factors such as foreign capital for the manufacturing of export goods,only 87.7% of the domestic value-added created by China's exports to the U.S. in 2012 was China's national income, whereas 96.2% of value-added in U.S. exports to China was U.S.national income. In the comparison of total export volume and export value-added, the home country's national income created by exports can more realistically reflect a country's gains from trade. In 2012, China's trade surplus with the U.S. stood at 102.8 billion US dollars in national income terms, which is 61% and 22% smaller than the results in gross and value-added terms, respectively. The implication is that the traditional trade balance accounting method seriously exaggerates the China-U.S. trade imbalance.
文摘China-U.S.trade has expanded rapidly over the past three decades,during which China’s trade deficit has turned into atrade surplus.China’s exports to the United States account for 20 percent of China’s total export trade,but the United States’exports to China make up less than 10 percent of its export trade.The trade dependence ratio of the two countries has adifference of up to 27 percentage points.While China’s economy and foreign trade become increasingly market-oriented,the U.S.implements long-term export restriction policies against it.Raising the degree of marketization of trade betweenChina and the U.S.is the key to redressing the China-U.S.trade imbalance.
文摘This article utilizes a large amount of statistical data to analyze the global distribution of foreign trade in China since 1990,as well as the factors involved and the changes in trends.The research results indicate that China has gained a favourable balance against developed countries and a disadvantageous balance against developing countries;China enjoys a trade surplus with North American and European countries while suffering deficits with those in the Asia.pacific region,as well as with resource-abundant Australia,Africa and South America. With regard to trends,the structure of China’s foreign trade will not undergo fundamental changes in the short term,but in the long run will be transformed in line with restructuring of the growth pattern.
文摘After the Kyoto Protocol was implemented,carbon leakage exerts great influences on international trade and economy.Trade creates a mechanism for consumers to shift environmental pollution associated with their consumption to other countries.China has overtaken the U.S.as the world's biggest CO2 emitter since 2006.As China's second largest trade partner,the U.S.has the biggest trade deficit with China which has aroused a lot of disputes between the two parties.But so far the assessments of the trade imbalance of China-U.S.have paid little attention to environmental impacts associated with the trade imbalance.Applied an input-output approach,the article estimates the amount of CO2 embodied in China-U.S.trade during 1997-2007.It was found that through trade with China,the U.S.reduced its CO2 emissions compared with a non-trade scenario.Due to the greater carbon-intensity and relatively less efficient production processes of Chinese industry,China-U.S.trade resulted in more CO2 emissions in China and the world.In the end,the article gives some suggestions:it is equal and sustainable that the international accounting methodologies should be improved,for CO2 emissions responsibility must be designed to account for the dynamic nature of international trade.
文摘At present China-U.S.trade relations are in a state of confusion.Although both countries have gained tremendous benefits from the bilateral trade relationship,some Americans have intentionally distorted some basic facts regarding China-U.S.trade relations. Based on an analysis of some official and nonofficial research reports published in the United States,this article holds that the China-U.S.trade imbalance is the symptom of a bigger issue stemming from the contradiction between the United States as the world's sole superpower and China as an emerging power.Economic globalisation came about due to the needs of western developed countries represented by the United States to boost economic development.Only by seizing the opportunities of economic globalisation, has China gained strong economic growth. Such a development is changing the world political,economic,military and cultural landscape that have been shaped since the post-cold-war era,and has to some extent raised doubt or suspicion on the part of the United States and its western allies.This is a manifestation of how unprepared some people in the United States and other western countries are in the face of China's rapid development and rising status.So,their immediate reaction has been to seek protection for themselves,and try their utmost to prevent China's rapid growth from impacting on the international framework and their vested interests.
基金supported by the Foundation of Tianjin Educational Committee(Grant No.20112401)
文摘Using input-output tables of China and the U.S., this paper has calculated the pollution embodied in trade and structure of pollution, the balance of emissions embodied in trade （BEET） and the pollution terms of trade （PTT） for 18 manufacturing sectors of China and the US. between 2001 and 2010. The calculation aims to verify whether China has become a ＂pollution haven＂ in bilateral trade with developed countries represented by the U.S., and whether Chinese exports are ＂dirtier＂ compared with imports from the U.S., and further conducting an industry structure analysis and effect decomposition study on pollution embodied in trade in industrial goods between China and U.S.. Result of our research indicates that according to our calculation of the BEET, China remains a country with environmental deficits in bilateral trade with the U.S. while the gaps between pollution embodied in China＇s export and import are narrowing. Pollution embodied in China＇s export has the tendency of increase before decline while pollution embodied in import demonstrates no significant tendency of decline. Through effect decomposition, we further found that the effect of technology arising from the substantial decline of pollution intensity effectively lowered pollution embodied in export and narrowed the environmental deficits of China in its bilateral trade. The effect of scale arising from growing export volumes significantly increased China＇s environmental deficits while the structural effect arising from changes in the structure of import and export is insignificant in reducing environmental deficits. Our calculation of the PTT led to the finding that China＇s export goods are more pollution intensive compared with import goods and that the structure of US exports to China is cleaner than the structure of Chinese exports to the US., which requires further improvements of China＇s import and export structure.
文摘The China—U.S.Agricultural CooperationAgreement is a prelude to China’s accessionto the World Trade Organization(WTO).The basic framework is built,though someDarts are still to be discussed.From a macro prospective,the exportVolume of U.S.agricultural products to Chinawill increase,and vise versa.But the sharein the total trade Volume is dropping.Firstly,no matter how flexible
文摘China and the United States concluded the 22nd session of the U.S.-China Joint Commission on Commerce and Trade (JCCT) on November 21 in Chengdu, China. Chinese Vice Premier Wang Qishan cochaired the two-day meeting with U.S. Secretary of Commerce John Bryson and U.
文摘Dr.Elliot Feldman on April 15,2010 presented the following speech at AmCham-China's Conference of the Asia-Pacific Council of American Chambers of Commerce(APCAC).With his kind approval,China Textile publishes his study and views focused on the title as captioned above.The article expresses the author's own stance.
文摘The objective of this paper is to investigate the dynamic relationship between China′s trade balance (T) and macroeconomic variables: domestic and foreign output (Y and Y\+* ), real exchange rate (E), domestic and foreign money supply (M and M\+*). The ADF Unit Root results show that the variables are all integrated of order I (1). The trade balance in China is not cointegrated with a number of variables, including the exchange rate. Absorption, elasticity, and monetary models are compared, and the elastic model performs better. There has been J\| curve in China, and the devaluations have had significant effect on the trade balance.
文摘The U.S. Government has unilaterally provoked and escalated trade friction with China since last year, casting a shadow on the China-U.S. trade relationship and the development of the world economy. Qiushi Journal,affi liated with the Communist Party of China Central Committee, published an article in its 12th issue of 2019, clarifying questions regarding China-U.S.trade friction. An excerpt of the article follows:
文摘A World Trade Organization （WTO） panel report published on October 19 has ruled that the United States violated WTO rules in 13 antiumping measures imposed on imports from China. China＇s Ministry of Commerce welcomed the ruling and urged the United States to respect the decision and rectify its trade remedies in order to ensure a fair international trade environment.
文摘The Office of the U.S. Trade Representative （USTR） sub- mitted in mid-November a statement to the VVTO refusing to grant market economy status （MES） to China. The U.S. decision, which was made public on November 30, confirms that it holds the same po- sition as the EU of opposing China ＂automatically＇ obtaining MES. The USTR submitted the statement as a third-party brief in support of the EU. In December 2016, China brought a case against the EU because the latter refused to grant MES to China and continued using the surrogate country approach in its anti-dump- ing cases against China.
文摘Donald Trump’s trade war with China does not make economic sense,but he does not face much domestic opposition to this trade war.Moreover,it is a part of a broader strategy of the nationalistic Americans’attempt to suppress the rise of China.Would China give in to the requests of the US under the threat of the escalation of the trade war?In what way?My conjecture is that China is willing to compromise up to a point.What China is likely to do is to promise to buy more goods and services from the US,allow greater market access for American firms,reduce Chinese subsidies to its industries,reduce forced technology transfers by American firms,strengthen enforcement of intellectual property rights protection and make verification all these commitments more transparent.Although the US might stop escalating the trade war,it is likely that the tariffs already imposed on Chinese goods would not be removed soon.In response to that,China also would not remove most of those tariffs already imposed on imports from the US,in keeping with the spirit of the tit-for-tat policy.It is possible that a temporary ceasefire is agreed,but the trade war can last for a long time.The final assembly stage of many industries might leave China,but not necessarily the whole production process.Hong Kong can be a victim of the trade war if it escalates.
