Trade friction between China and US have escalated,commodities involved in China-US trade is being affected.China is important import and export market for fragrance and flavor.The United States is the third largest i...Trade friction between China and US have escalated,commodities involved in China-US trade is being affected.China is important import and export market for fragrance and flavor.The United States is the third largest importer and the largest exporter of China’s fragrance and flavor commodities.This round of tariff increasing has important impact on China’s fragrance and flavor trade.In the review,development of China’s fragrance and flavor industry and the situation of their imports and exports,especially trade between China and US,are briefly introduced;focusing on the tariff increasing of fragrance and flavor products between the two countries,the impact of trade friction to the industry is anticipated.展开更多
With finance upheaval endlessly and global economic environment become more complex, the trading disputes among the western developed countries is more, and this kind of tendency is dangerous to the prospect of the wo...With finance upheaval endlessly and global economic environment become more complex, the trading disputes among the western developed countries is more, and this kind of tendency is dangerous to the prospect of the world economic growth. This paper tries to analyze the major reasons of the intense trading friction between America and Japan and the countermeasures two sides took. Since the trading friction between America and Japan began from the middle of the 1950s, it never be disconnected, and escalate constantly.展开更多
In March 2018,the US used an immense trade deficit as an excuse to provoke trade friction with China.This study uses the EGARCH model and event study methods to study the impact of the major risk event of Sino-US trad...In March 2018,the US used an immense trade deficit as an excuse to provoke trade friction with China.This study uses the EGARCH model and event study methods to study the impact of the major risk event of Sino-US trade friction on soybean futures markets in China and the United States.Results indicate that the Sino-US trade friction weakened the return spillover effect between the soybean futures markets in China and the US,and significantly increased market volatilities.As the scale of additional tariffs increased,the volatility of the Chinese soybean futures market declined;however,the volatility of the US soybean futures market did not weaken.In addition,expanding the sources of soybean imports helped ease the impact of tariffs on China's soybean futures market,while the decline in US soybean exports to China intensified the volatility of the US soybean futures market.In addition,while the release of multiple tariff increases has had a short-termimpact on the returns of soybean futures markets,the impact of trade friction has grad-ually decreased.展开更多
This paper offers a comprehensive analysis of the reasons for the large number of trade remedy actions taken against China. Using a multi-country and multi-industry dataset, the present paper shows that the macroecono...This paper offers a comprehensive analysis of the reasons for the large number of trade remedy actions taken against China. Using a multi-country and multi-industry dataset, the present paper shows that the macroeconomic situation of China＇s partners has a great influence on the probability of trade frictions arising with China. Moreover, the more powerful the industry is, the more likely it is to take trade remedy actions against China. The empirical results reveal that China has been hurt under the operating mechanism of the WTO, and the number of free trade agreements is negatively related to the initiation and approval of trade remedy actions. Basically, the determinants for countervailing and double remedy measures are identical, while they are different from determinants of antidumping measures. Accordingly, strengthening communication with trade partners will alleviate friction between China and its trade partners. Meanwhile, making use of foreign lobbies power, actively integrating into the international trading system and participating in regional trade agreements are effective ways for China to deal with the ＂new normal＂ of trade frictions.展开更多
文摘Trade friction between China and US have escalated,commodities involved in China-US trade is being affected.China is important import and export market for fragrance and flavor.The United States is the third largest importer and the largest exporter of China’s fragrance and flavor commodities.This round of tariff increasing has important impact on China’s fragrance and flavor trade.In the review,development of China’s fragrance and flavor industry and the situation of their imports and exports,especially trade between China and US,are briefly introduced;focusing on the tariff increasing of fragrance and flavor products between the two countries,the impact of trade friction to the industry is anticipated.
文摘With finance upheaval endlessly and global economic environment become more complex, the trading disputes among the western developed countries is more, and this kind of tendency is dangerous to the prospect of the world economic growth. This paper tries to analyze the major reasons of the intense trading friction between America and Japan and the countermeasures two sides took. Since the trading friction between America and Japan began from the middle of the 1950s, it never be disconnected, and escalate constantly.
基金supported by the National Natural Science Foundation of China[71873022].
文摘In March 2018,the US used an immense trade deficit as an excuse to provoke trade friction with China.This study uses the EGARCH model and event study methods to study the impact of the major risk event of Sino-US trade friction on soybean futures markets in China and the United States.Results indicate that the Sino-US trade friction weakened the return spillover effect between the soybean futures markets in China and the US,and significantly increased market volatilities.As the scale of additional tariffs increased,the volatility of the Chinese soybean futures market declined;however,the volatility of the US soybean futures market did not weaken.In addition,expanding the sources of soybean imports helped ease the impact of tariffs on China's soybean futures market,while the decline in US soybean exports to China intensified the volatility of the US soybean futures market.In addition,while the release of multiple tariff increases has had a short-termimpact on the returns of soybean futures markets,the impact of trade friction has grad-ually decreased.
基金The study was supported by the Fundamental Research Funds for the Central Universities and the Research Funds of Renmin University of China （13XN1006）, National Natural Science Foundation of China （71473254, 71673280）, Beijing Social Science Foundation （15JGB080） and Youth Talents Project of Beijing Federation of Social Science Circles （2014SKL012）. The authors are grateful for support provided from the Beijing Natural Science Foundation （Grant No. 9122005）.
文摘This paper offers a comprehensive analysis of the reasons for the large number of trade remedy actions taken against China. Using a multi-country and multi-industry dataset, the present paper shows that the macroeconomic situation of China＇s partners has a great influence on the probability of trade frictions arising with China. Moreover, the more powerful the industry is, the more likely it is to take trade remedy actions against China. The empirical results reveal that China has been hurt under the operating mechanism of the WTO, and the number of free trade agreements is negatively related to the initiation and approval of trade remedy actions. Basically, the determinants for countervailing and double remedy measures are identical, while they are different from determinants of antidumping measures. Accordingly, strengthening communication with trade partners will alleviate friction between China and its trade partners. Meanwhile, making use of foreign lobbies power, actively integrating into the international trading system and participating in regional trade agreements are effective ways for China to deal with the ＂new normal＂ of trade frictions.
