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-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-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.

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.

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

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.

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.

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.

Economics-based Principles for a Post-conflict China-US Commercial Regime

Neither the Chinese nor US economic systems will fundamentally change as a result of overt trade conflict. The challenge for policy-relevant economics is to design a regime for China-US commerce that accepts the co-existence but also addresses underlying disputes. Many important China-US disputes, notably those over intellectual property protection and state subsidies, cannot be resolved by the World Trade Organization, thus new institutions must be built. Economics-based regime principles should entail recognition that： the China-US bilateral trade imbalance is unique mainly because of macroeconomic and financial factors, not trade; agreements should restrict commercial and government behaviors, not target economic outcomes; Chinese companies must compete and be allowed to succeed in any sector, including high-technology; China is not entitled to US-owned technology, thus intellectual property rights must be enforced; and the US Government should support an increased role for China in global economic governance.

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:

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.

美国的新重商主义贸易政策与中美贸易摩擦发展趋势分析

新重商主义是重商主义贸易思想基于不同的利益与价值诉求在新时期的一种新形式的选择。在美国新重商主义贸易政策的影响下,频发的中美贸易摩擦有向长期化、高端化发展的态势。美国的新重商主义贸易政策主要体现在两方面:从鼓励出口的政策看,推动美元贬值提升制造业出口竞争力,并以绿色技术、设备、新能源为突破口,形成新的出口增长点与出口导向型战略;从限制进口的政策看,"两反两保"等贸易救济措施、"炭关税"等绿色贸易壁垒频出。

Trade Imbalance

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.

A Zero Sum Fight

China-U.S, trade ties are facing a tough test after it was made public on November 30 that the Trump admin-istration had submitted a statement to the World Trade Organization （WTO） against granting China market economy status （M ES）.

Cooperative Rivalry

The trade conflict launched by the Donald Trump administration against China in 2018 has pushed China-U.S.relations into a corner. However,U.S.political scientist and professor at Harvard University Joseph S.Nye,believes cooperation is far more important for the two countries.In a recent exclusive interview with Wang Xiaohui, Editor-in-Chief of China.org.cn,Nye shared his views on the current relationship between the world's top two economies.An edited excerpt of the interview follows.

Clearing the Air

As negotiations continue to resolve the China-U.S.trade friction,which is the cynosure of international attention,there are rumors that China is trying to undermine the talks.In order to clarify the facts and present China's position on these consultations,the State Council Information Office issued a white pa-per,China's Position on the China-U.S.Economic and Trade Consultations,on June 2.