Status, Transition, and Impact of the Yoon Suk-yeol Administration’s Trade Policy with China

China is Korea’s main trade partner in East Asia and one of its key economic and trade partners worldwide.The two countries have complementary industrial structure and a long history of trade exchanges.However,against the backdrop of a return to global trade protectionism and the politicization of international affairs with Yoon Suk-yeol coming to power,South Korea has undertaken a strong trade shift toward the United States(US),triggering a change in the pattern of economic cooperation in East Asia and challenging the regional trade structure.A review of the trade policy agenda of the Yoon Suk-yeol administration toward the US and China,along with a comparative review of Korea’s foreign trade stance under Moon Jae-in,allows for an analysis of the turnaround and characteristics of Yoon’s trade policy toward China during his tenure.The implications for global trade governance and regional security are further analyzed with an aim of finding a Nash equilibrium in trade cooperation among East Asian countries.

No country is an island in regulating food safety:How the WTO monitors Chinese food safety laws through the Trade Policy Review Mechanism(TPRM)

Established within the framework of the World Trade Organization （WTO）, the Trade Policy Review Mechanism （TPRM） reviews periodically the trade policies of all WTO Members. The review includes many aspects of food safety regulation. China＇s trade policy is reviewed every two years. This paper analyses in detail the reviews of China＇s trade policy in 2006, 2008, 2010, 2012 and 2014. It focuses in particular on food safety laws and types of standards, alignment of domestic standards with international standards, the role of different domestic institutions, transparency and notification of food safety measures under the WTO agreements on Sanitary and Phytosanitary Measures （SPS） and on Technical Barriers to Trade （TBTAgreement）, import and export, and geographical indications （GIs）. It concludes that the WTO TPRM can contribute, within its mandate, to reform of Chinese food safety laws and improvement of food safety in China. it notes that China has already undertaken substantial reforms of its system for regulating food safety. It recommends that China should continue to participate actively in the TPRM, follow its own path with regard to alignment and learn selectively from other WTO Members.

The Study on Trade Policy and Openness of Mongolia： Influences on Trade Flows Between China-Mongolia-Russia （Past and Future）

This paper aimed to highlight the effects of conflict in Mongolia on trade policy and openness, by estimating the trade flows with neighbor countries （China and Russia）. Fourteen years＇ （2000-2013） data of Mongolian imports and exports were collected and gone through principal component analysis （PCA） and empirical analysis for grouping various trades with China and Russia. The empirical analysis identified the determining factors of Mongolian trade flow and openness with China and Russia. Empirical analysis evidenced that Mongolian trade and openness policy raised bilateral trade between China and Russia, leaving a great influence on economic size. Two main questions represented as empirically tested by each sample country. How did Mongolian trade policy and openness influence trade flows between China and Russia and economic growth of Mongolia？ Did Mongolian trade policy and the bilateral trade with China and Russia increase on trade openness？ Finally, the study focused on the forecasts from 2016 to 2018 to examine Mongolian trade flows with China and Russia using ordinary least squares method and autoregressive-moving-average （ARMA） model. China-Mongolia-Russia trade flows will continue to dominate during the forecasted period. As shown by the structure of export and import, goods with China and Russia influenced the mutual trade amount. Moreover, China and Russia traded to continue with Mongolia for goods in long run. Trade policy and openness, the major contributor in Mongolian economy, are significantly playing roles in trade and economy.

The Diffusion of Bilateral Tendencies in the Common Trade Policy of the European Union During the Global Financial and Economic Crisis

In this research work, the author focuses on the analysis of the diffusion of bilateral tendencies in the common trade policy of the European Union （EU） during the global financial and economic crisis. Realistic point is important trends in the trade regime during the economic crisis. The decisions taken by the representatives of the governments participating in the World Trade Organisation （WTO） are, to a significant degree, influenced by various lobbies, such as organisations and unions of food producers or other non-governmental organisations, including trade unions, The main objective of the research task is to give a comprehensive analysis of the international trade policy during the world financial and economic crisis 2008-2010. The particular mains concern the political economy models of foreign trade policy, protectionistic pressures in different political system, the level of protectionistic pressures, food producer pressures, international trade liberalization, and environmental protection bilateral tendencies in the common trade policy of the EU and the respond of the EU to the economic crisis, it must be emphasized that on a theoretical level, understanding the choice of trade policies between liberalizm and protectionisme is very important. Despite the undeniable benefits of the multilateral WTO forum for trade liberalisation, the rapid increase of North-South bilateral and multilateral Free Trade Areas （FTAs） begs a systematic explanation for why some forums are prioritized relative to others.

US President Donald Trump’s Twitter Analysis and His Trade Policy Agenda

This paper makes a text analysis of the US President Donald Trump and his trade policy agenda at the national and international levels,followed by evidence-based statistical analyses of US trade.The results of President Trump’s twitters reveal that overall,President Donald Trump’s remarks contain his“populism”characterized by the use of easy-to-understand words as well as simple rhetoric,as shown most symbolically in the phrase“make America great again”.This is what is meant by“populism”,an important character of his administration(at the“meso”level)which exerts a large impact on the global(or“macro”)political and economic landscape.Such large-scale impacts can be generated by“micro”(individual level)remarks by President Trump.In more concrete terms,his micro(individual)speeches will influence his meso(national)level policy as well as the macro(NAFTA)level policy stance of the US.All these levels are interconnected in a sensitive way.NAFTA as a regional integration among the three nation states is actually under a significant influence from meso as well as micro interactions,and President Trump’s punitive trade stance may hit Chinese export negatively.Due consideration to the cross-hierarchical linkages is indeed a practical viewpoint when discussing the current,rather US-dominated trade deals.

Scaling up private investment in low-carbon energy systems through regional cooperation: Effective trade policy measures

How to ensure energy supply and reduce environment pollution have turned into governments’ top priorities and key factors to maintain sustainable development. In this context, two major trade and investment agreements that could lead to profound influence on low-carbon energy systems development around the Asia-Pacific region are the Regional comprehensive economic partnership (RCEP) consisted of the Association of Southeast Asian Nations (ASEAN) plus Australia, China, India, Japan, New Zealand, and Republic of Korea and the Belt and road initiative (BRI) initiated by China. In order to have a smooth transition to low-carbon energy systems in Asia, besides RCEP and BRI, it is imperative to boost private sector investment. Success of encouraging private sector investment depends on appropriate government policies towards promoting innovations and reducing financial risks to private investors. The research questions that are examined in this study are: What type of policy measures affects trade in low-carbon transition, particularly renewable energy (RE) transition? How can investment signals and incentives be reframed to scale up private finance in RE? The objective is to investigate and to provide several feasible trade policy and investment policy tools for both national and regional markets that governments could adopt to accelerate the speed of private financing of the low-carbon energy industry, particularly the RE industry.

Optimization of biofuel supply chain integrated with petroleum refineries under carbon trade policy

The use of fossil fuels results in significant carbon dioxide emissions.Biofuels have been increasingly adopted as sustainable alternatives to fossil fuel to address this environmental issue.Integrating petroleum refineries into biofuel supply chains is an effective approach to mitigating greenhouse gas emissions and improving environmental sustainability.In this study,an integrated supply chain optimization framework was established,considering the carbon trade policy.In addition,a mixed-integer nonlinear programming model was developed to optimize the selection of biomass suppliers,construction of pretreatment plants and biorefineries,integration of petroleum refineries,and selection of transportation routes with the objective of minimizing the total annual cost.An example is presented to illustrate the applicability of the model.The optimization results show that integrating petroleum refineries into biofuel supply chains effectively mitigates carbon emissions.Carbon trade policies can have a direct impact on the total annual cost and carbon emissions of the supply chain.

Moderating effect of corporate financialization on the impact of climate policy on corporate green innovation:Evidence from China

With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between climate policy and green innovation in the corporate financialization context.Using Chinese-listed company data from 2008 to 2020,our analysis reveals a favorable correlation between China’s carbon emission trading policy(CCTP)and advancements in green innovation.Furthermore,we find that the level of corporate financialization moderates this correlation,diminishing the driving effect of CCTP on green innovation.Additionally,results of heterogeneity analysis show that this moderating consequence is more evident in non-state owned and low-digitization enterprises compared with state-owned and high-digitization ones.Our findings contribute to the existing literature by clarifying the interaction between CCTP,green innovation,and corporate financialization.Our research provides valuable insights for policymakers and stakeholders seeking to strengthen climate policies and encourages green innovation in different types of businesses.

Political Economy of US Trade Policy towards China

The trade relationship between China and the USA has become increasingly important to the economies of both countries. The recent trade conflicts and friction between China and the USA constitute obstacles in the way of US-Chinese bilateral trade relationship development, which is of considerable concern to both countries. Through an in-depth analysis of the political process of US trade policy towards China, the present paper identifies the important determinants of US trade policy towards China. The influence of US trade policy on the trade relationship between the USA and China is assessed and implications for the trade relationship between the USA and China are discussed.

Understanding China＇s Foreign Trade Policy： A Literature Review

China has continued to experience rapid growth in its foreign trade since the implementation of its reform and opening-up policies. In recent years, the country has become the world＇s largest exporter and second largest importer of goods and commodities. China＇s trade policy has also gradually been transforming from protectionism to open trade. This paper aims to provide a comprehensive survey on the literature of China＇s trade policy. The review covers （1） export and import policies, （2） tariff and non-tariff barriers, and （3） policy effects and motivations behind the policy design. This paper also reports on important topics and issues that deserve more research attention.

Impact of openness, economic policy reform and regional shocks on trade and growth of Thailand： An econometric study

Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalization. Nevertheless, several recent internal and external factors e.g. the massive SARS and avian flu outbreaks, the Indian Ocean tsunami devastation, the Asia financial crisis and domestic policy reforms （ICSEAD, 2006） have also impeded this policy. While the issues are important for Thailand and developing countries in Asia, only limited research has been undertaken to investigate them. The paper conducts a substantive quantitative study to contribute to these trade and development policy issues. A new econometric modelling policy method, namely the generalized gravity theory （Tran Van Hoa, 2004） is used to develop a simple flexible simultaneous-equation econometric model of Thailand＇s openness model with its seven major trade partners （ASEAN-4, Australia, the USA, the EU, China, Japan and India）. Using data from the ICSEAD, the World Development Indicators and the Bank of Thailand databases, the paper reveals efficient and reliable empirical findings on trade-growth causality, trade determination including the impact of shocks and policy reform on trade and growth between Thailand and its major trade partners over the past two decades. The paper also provides evidence on the linkages between trade in goods, FDI and services and regional economic integration for more credible policy implications.

How Mobile Are Resources in Chinese Agriculture?—Implications for China's Agricultural Trade Policy

Agricultural trade policy in China has been the subject of heated discussion since China ＇s accession to the WTO. Studies have been carried out and propositions put forth regarding comparative advantage, food security, development of the industry, and farmers＇ income. In this paper, we attempt to provide an analysis from another important perspective： resource mobility, which is an essential assumption in free trade theory. By examining the mobility of different production resources in Chinese agriculture, namely natural resources, capital inputs, human resources and institutional arrangements, we found that for most production resources in Chinese agriculture, mobility is low. The results have significant policy implications in two respects：first, protective measures in the transitional period for certain crops in certain areas in China are legitimate and necessary to ensure social stability; and second, policy instruments to improve resource mobility in Chinese agricultural should be explored and implemented to realize more trade benefit in the future.

Inventory Management with Trade Policy Uncertainty

This paper develops a theoretical model to describe how exporting firms manage their inventory stocks in response to an exogenous trade policy uncertainty shock.Using firm-level data from China Industrial Enterprise Database and China Customs Database on inventory and exports over the period around China's WTO accession,we show that a reduction in trade policy uncertainty significantly increased exporting firms'inventory holdings.The result wasrobust tovarious robustness checks.This effect was found to be stronger for private and foreign firms than state-owned enterprises and mainly driven by firms from the coastal region.We also found that the reduction in trade policy uncertainty increased the frequency and the average volume of export transactions,and that this was the mechanism behind the effect.This paper helps to understand exporting firms'optimal inventory problem arising from tradepolicyuncertaintyand shocks.

The Interactive Impact of Trade Policy Uncertainty and Credit Constraint Heterogeneity on Firms' Export Margins: Theory and Empirics

This paper develops a simple trade model of heterogeneous firms, which incorporates the dual heterogeneity of credit constraints at the firm and industry levels and reveals the effects of the interaction mechanisms of trade policy uncertainty and credit constraint heterogeneity on exporters’ behaviour. The model confirms that the higher the level of industrial credit constraints, the greater the interaction of trade policy uncertainty and credit constraint heterogeneity, but firms with lower levels of credit constraints within a specific industry are more affected by this interaction. Then, based on the highly dis-aggregated trade data of China’s firms from 2000 to 2013, this paper provides empirical evidence for the main predictions and mechanisms of the theoretical model.

Trade Interests in Foreign Policy of the Global South

In this research work, the author focuses on the analysis of the trade interests in foreign policy of the Global South. What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests of Global South. First of all, it must underline that in the new theoretical terms in the demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region＇s economy. Moreover, some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region＇s economy, but are industry specific. The main objective of the research task is to give a comprehensive analysis of the models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, protectionistic pressures in different political system and different types of authoritarian regimes of Global South, the level of protectionistic pressures, the rise of qualitatively new politics in North-South relations like bilateral tendencies. It should be stressed that free trade in itself is not responsible for economic growth, but more significant are the determining macroeconomic stability and increasing investment of Global South.

Development Trend of Foreign Trade Policy for China’s Forest Industry

The paper analyzed the current status of foreign trade of forest industry in China and the national and international market changes. Based on the analysis, the orientation and transformation of foreign trade policy for China's forest industry were discussed.

China's Scarce Mineral Resources Trade Policy Shall Follow the Pace of the Times

In the past two years,due to weak global economic recovery and manufacturing downturn,the world mineral market continued to slump.As a result,scarce minerals have also been seriously affected.On one hand。

Optimal Trade Credit Policy for Supplier under Asymmetric Information in the Supply Chain

Most papers about trade credit in supply chain studied retailer's inventory policy based on information shared.Few papers paid attention to supplier's trade credit policy under asymmetric information.So this paper tries to propose supplier's optimal trade credit policy to reveal retailer's private information.The aim is achieved by developing an incentive model with revelation principle.The retailer's private information can be found out through this trade credit policy.This contract is more general than the wholesale price contract.For the retailer's private information,the order quantity and ratio of delay in payment are distorted.Sensitivity analysis shows that the contract is influenced by sales ability and discount rate.Finally,the indirect mechanism with the same effect is proposed to make it easy to be put into practice.

Is China’s Foreign Investment Policy to Blame for US-China “Forced Technology Transfer” and Trade Conf lict?——Comment on Trump Administration’s Section 301 Investigation of China

The paper presents a new analytical framework to discuss the effect of Chinese foreign investment policy on the international technology transfer absorbed by enterprises of different ownership.The US Trade Representative claims that the Chinese government’s requirements regarding joint ventures pressure US companies to transfer intellectual property to Chinese companies.However,we argue that:(1)Based on analysis of the technical fees of technology import contracts and the number of US patents transferred to enterprises registered in the Chinese mainland,China’s foreign investment policy does not pressure US companies to transfer unremunerated technology to Chinese companies.(2)The invention and utility model patents filed by Chinese joint-venture enterprises or Chinese partner companies do not show an abnormally rapid growth,which means China’s FDI policy does not force US companies to transfer intellectual property in exchange for China’s market.(3)After 2012,the US-China technology transfer absorbed by enterprises of different ownership showed a significantly positive effect in reducing China-US trade surplus.