China-U.S. Trade Balance from the National Income Perspective

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.

China-U.S. Trade Agreement Needs Further Bilateral Cooperation

One of the events this Spring Festival is the signing of the phase-I trade agreement between China and the U.S.in Washington D.C..This agreement covers a wide range of issues including intellectual property rights,technology transfer and financial services.It also includes China’s commitment to make an additional purchases of U.S.goods and services with the value of USD 200 billion between 2020 and 2021.According to statistics from the U.S.Ministry of Commerce,U.S.exports to China amounted to USD 130.37 billion in 2017.

Marketization the Key to Solving China-U.S. Trade Imbalance

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.

CO_2 Emissions Embodied in China-U.S.Trade

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.

China-US Trade Relations:Win-Win Picture Distorted

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.

Promoting China-U.S.Arctic education cooperation:challenges,opportunities and recommendations

Arctic education refers not only to the teaching,but also to research,communication,dissemination as well as popularization of knowledge related to the Arctic.This article reviews joint efforts between Chinese and American educators and researchers to promote cooperation and understanding in Arctic education and research,and examines the facing challenges of China-U.S.Arctic education cooperation which include current political or economic tensions between the two countries,the differing perspectives and priorities on Arctic policy,the disproportion in Arctic scientific research,different research methodologies and discourse system in social science.This article also argues that there are opportunities for the two countries to cooperate in Arctic education.Common goals and interests in the Arctic,Arctic-dedicated institutions with significant Arctic research capabilities and partnerships around the world provide foundations for Arctic education cooperation.The implementation of a new science-based Arctic treaty of the Arctic Council is an opportunity for China-U.S.Arctic education cooperation.As for future cooperation,it suggests that in addition to promoting the direct bilateral cooperation,cooperation within international cooperation platforms and mechanisms,especially within the Arctic Council also needs to be further promoted.

China-US High-Tech Competition,Trade Conflict and Development Rights

The power and interest of industrial manufacturers are determined by their status in the relations of production.At the international level,countries see their economic and political status rise only when they climb the ladder in the international division of labor.As the primary production forces,science and technology are the main drivers behind such change.As new technologies give rise to new industries and restructure the international division of labor,developed countries strive to enhance the protection of their intellectual property rights(IPR)and safeguard their monopoly over core technologies.For developed countries,technological prowess holds the key to their supremacy in the global supply chain and international relations.The 19 th CPC National Congress makes clear the overarching goal in the new era is to rejuvenate the Chinese nation and turn China into a strong modern country.As an important material condition for achieving this goal,China must transition from being medium-and low-end links in the international division of labor to becoming high-end links.In this process,China will encounter backlash from developed countries that lead in the international division of labor.The recent China-US tussle over trade in high-tech goods is a case in point,and should be viewed through the lens of the relations of production and the international division of labor.The insights thus achieved will be of great significance to China’s future development.

Progress Made on China-U.S.Trade Relationship at the 22nd JCCT Session

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.

Truths About the China-U.S. Trade Relationship

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:

Trumponomics and China-US Economic and Trade Relations

Since he took office, the new US president, Donald Trump, has unveiled his broad economic policy--now called Trumponomics. It emphasizes neoliberalism at home, less government regulations, more growth and weakening the welfare state. Intemationally, Trumponomics embraces protectionism and nativism with a focus on US economic interests. Trumponomics caters to the lower-middle classes, a reflection of the country＇s current economic and diplomatic challenges. Trumponomics will bring uncertainty to China-US economic and trade relations. China should carefully study the policies of the Trump administration and prepare contingency plans.

Will China-U.S. Trade Disputes Diminish?

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.

Embodied Pollution in China-U.S.Trade——An Empirical Study Based on Estimation of Input-Output Technology Matrix

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.

PROSPECTS OF CHINA-U.S. AGRICULTURAL TRADE

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

A Review of China-US Economic and Trade Relations (2007-2015)

In order to find indications for future bilateral relations, it is worth reviewing the development of China-US economic and trade relations in recent history. Generally speaking, the nine years between 2007 and 2015 saw non-stop progress in China and US trade and economic ties. The China-US interdependent and complementary economic and trade connections ensure that bilateral relations are constantly developing and merging following their interdependent paths;the global challenges, such as the financial crisis and recent extreme weather events, have allowed China and the US to be in the same boat,weathering these different forms of turbulence. Decisions on important domestic policies and disputes can now be discussed earlier and effectively following on from the construction of multi-dimensional crisis management mechanisms. But undeniably there are unsettled and conflicting points in their relations, such as the fact that the US strategically excludes China from its free trade agenda, not willing to accept many everyday items manufactured by China. This is a major obstacle preventing their relationships deepening. History tells us, in future, if both sides could have a bigger vision, relations would better develop, for the new type of major power relations and the subsequent road would be less rocky and bring more benefits for the peoples of both countries.

A Theoretical and Empirical Analysis of Benefits Distribution in China-U.S. Trade during 1978-2007

The Sino-U.S. trade imbalance and the related debate on RMB appreciation have attracted much attention in recent years. Judging objectively, however, the trade imbalance does not necessarily result in an imbalance in the distribution of trade benefits. By analyzing the distribution of benefits in Sino-U.S. trade from 1978 to 2007, this paper finds that bilateral trade has brought positive benefits to both sides, differentially in terms of production and consumption. Simply put, China has gained benefits for production yet suffered in terms of consumption, whereas the opposite is true for the U.S.. Moreover, even during periods in which the U.S. experienced a trade deficit, its citizens gained larger total individual benefits than those in a period of trade surplus. We argue, therefore, that appreciation of the RMB would reduce the trade benefits for both sides by almost the same margin, bringing little benefit to the United States.

China-U.S. Relations and International Trade

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.

China’s alfalfa market and imports: Development, trends, and potential impacts of the U.S.-China trade dispute and retaliations

This study examines the development and trends of China’s alfalfa market and imports, identifies key factors for the rapid increase in China’s alfalfa imports, and discusses potential impacts of the U.S.-China trade dispute and retaliations on the alfalfa markets and trade in both nations. China’s rapid transition toward larger-scale commercial dairy production, with enhanced feed and cost management as well as quality and safety control, and its limited resources for high-quality alfalfa production are key factors for the dramatic increase in its alfalfa imports, from 19 601 metric tons in 2008 to 1.38 million metric tons(mmt) in 2018. While the United States dominated China’s alfalfa imports with an average share of 97.01% from 2007 to 2017, the share dropped to 83.76% in 2018 and 63.28% in January 2019 due to the trade dispute and retaliations started in 2018. China will likely remain a large importer of alfalfa because of both its growing demand and the comparative advantages of imported alfalfa in quality and price, but the imports from the United States will be highly affected by the ongoing trade dispute and negotiations. China is also expected to make more efforts to reduce its dependence on U.S. alfalfa through increased investment in domestic alfalfa production and identification of alternative sources of alfalfa and other hay imports.

Current Statistics System Fails to Reflect New Changes in International Trade Activities

Today developed countries mainly participate in international trade via their foreign affiliates and intermediate goods are more frequently traded as a result of increasingly deepening international divisions of labour.Against this background,the current trade statistical system that is characterized by the statistical principle of cross-border trade and production,and the custom’s registration data collection method,greatly exaggerate the trade imbalance between China and America. Consequently,it is necessary for the Chinese nation to overcome the shortcomings of the current statistical system so as to evaluate more fairly the trade imbalance between China and America by referring to the Ownership-Based Framework of the complimentary statistical system under the US Current Account.This article, on the basis of the statistical principle of oumership,attempts to regulate the distorted trade imbalance resulting from the current trade statistical system,and aims for an increased understanding of the trade imbalance between China and America from a theoretical background,as well as from the points of view of practitioners and decision makers.

CHINA'S FOREIGN TRADE PROSPECT IN 2002

China’s foreign trade volume hit US$509.77 billion in 2001, the figure represented 7.5% increase over the previous year. Of the total, exports topped US$266.16 billion, 6.8% up over the previous year, imports reached US$243.61 billion, up 8.2%, and accumulated trade surplus climbed to US$22.55 billion. The results were fairly outstanding if we take a general look at the world economy, which experienced significant slowdown in 2001 mainly due to the serious downturns in the United States and Japan. The increase can be attributed to a number of factors including the rise

On China's Foreign Trade Development and Linkage with the Customary Rules of International Trade

Although great differences exist between the trade systems of different countries,internationaltrade must go on in line with the customary international trade rules.As China’s economy developsand the socialist market economic system emerges,China is basically qualified to link up withcustomary international trade rules.In the Ninth Five-Year Plan period,China’s reform of its foreigntrade system aims at setting up a trade system that conforms with international trade practice.Forthe purpose,the author of this article suggests that a neutral trade policy should be adopted inaccordance with the international practice since it does not hinder exports,nor restrict imports toan excessive degree.