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 Balance under the Ownership-based Statistical System

In the context of economic globalization,territory-based bilateral trade statistics are no longer compatible with the reality of cross-border flow of capital factor and rapid emergence of multinational firms.On the basis of survey of literature studies,this paper has created a three-country model of bilateral trade based on ownership principle and demonstrated that ownership-based statistical system under this model can reflect bilateral trade volume and balance more objectively,truthfully and comprehensively.In addition to theoretical demonstration,this paper has revaluated China-US trade balance using ownership-based statistical methodology and the result indicates that the existing statistical system of trade severely overestimates the real level of China-US trade balance and FDI in China is a major reason behind increasing China-US trade surplus.

Balanced Development of Internal and External Trade

The CMC International and Domestic Trade Division under the China National Machinery Import & Export Corporation has, in accordance with the CMC’s strategic goals, worked out the following business guidelines: internal trade is the basis of external trade, and external trade is a supplementary to internal trade; domestic and overseas markets and resources should be used effectively, and internal trade and external trade should be coordinated and handled in a unified way. The Division’s business concept is to conduct trade-dominated business backed by

An Analysis of China's Trade Balances with Other Countries and Regions

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.

Incentive-compatible and budget balanced AGV mechanism for peer-to-peer energy trading in smart grids

Peer-to-peer(P2P)energy trading refers to a type of decentralized transaction,where the energy from distributed energy resources is directly traded between peers.A key challenge in peer-to-peer energy trading is designing a safe,efficient,and transparent trading model and operating mechanism.In this study,we consider a P2P trading environment based on blockchain technology,where prosumers can submit bids or offers without knowing the reports of others.We propose an Arrow-d’Aspremont-Gerard-Varet(AGV)-based mechanism to encourage prosumers to submit their real reserve price and determine the P2P transaction price.We demonstrate that the AGV mechanism can achieve Bayesian incentive compatibility and budget balance.Kernel density estimation(KDE)is used to derive the prior distribution from the historical bid/offer information of the agents.Case studies are carried out to analyze and evaluate the proposed mechanism.Simulation results verify the effectiveness of the proposed mechanism in guiding agents to report the true reserve price while maximizing social welfare.Moreover,we discuss the advantages of budget balance for decentralized trading by comparing the Vickrey-Clarke-Groves(VCG)and AGV mechanisms.

Analysis of interprovincial trade embodied carbon emissions in Beijing-Tianjin-Hebei and surrounding provinces: based on constructed MRIO Model

The interprovincial trade embodied carbon emissions plays an important role in the national emission reduction target among China's provinces. Furthermore, it will affect the smooth start-up of the national carbon trade market as well as the implementation of targets in 2030 for dealing with the climate change. Based on constructed MRIO model, this paper analyzes the embodied carbon emission trade flows among Beijing, Tianjin, Hebei and surrounding regions such as Shanxi, Shaanxi, and Inner Mongolia. The results indicate that six provinces have formed different patterns of carbon trade balance, where Beijing, Tianjin, and Hebei provinces are in a deficit position, while the other three provinces are in a surplus position.Beijing, Tianjin, and Hebei have transferred part of the carbon emissions to the other three provinces, which shows greater heterogeneity among various provinces and provincial different sectors. On basis of the conclusions, this paper puts forward some suggestions on provincial decomposition, responsibility distribution, and provincial collaborative reduction for national emission reduction targets.

Lift Force at Equatorial Sea Level Due to Compressed Air Dynamics of the Trade Wind’s Boundary Layer

Starting with a recent unconventional explanation of the lift force on a wing, featuring compressibility of the air, an application of the same concept is made to the lift force on the equatorial sea surface due to the Trade Winds, by greatly increasing the spatial scales. If the equatorial sea level does rise up, the northward slope to the sea level should facilitate the poleward flux of summer heat in both the North Pacific and North Atlantic Oceans, as two examples, in accordance with the heat budget requirements of these oceans. Compressed air dynamics consists of Bernoulli’s law applied to the streamlines of the Trade Winds, the force balance between the upward centrifugal force of the curved streamlines at the earth’s surface and a downward pressure force, and the perfect gas law for air.

Regularized inversion for coseismic slip distribution with active constraint balancing

Estimating the spatial distribution of coseismic slip is an ill-posed inverse problem, and solutions may be extremely oscillatory due to measurement errors without any constraints on the coseismic slip distribution. In order to obtain stable solution for coseismic slip inversion, regularization method with smoothness-constrained was imposed. Trade-off parameter in regularized inversion, which balances the minimization of the data misfit and model roughness, should be a critical procedure to achieve both resolution and stability. Then, the active constraint balancing approach is adopted, in which the trade-off parameter is regarded as a spatial variable at each model parameter and automatically determined via the model resolution matrix and the spread function. Numerical experiments for a synthetical model indicate that regularized inversion using active constraint balancing approach can provides stable inversion results and have low sensitivity to the knowledge of the exact character of the Gaussian noise. Regularized inversion combined with active constraint balancing approach is conducted on the 2005 Nias earthquake. The released moment based on the estimated coseismic slip distribution is 9.91×1021 N·m, which is equivalent to a moment magnitude of 8.6 and almost identical to the value determined by USGS. The inversion results for synthetic coseismic uniform-slip model and the 2005 earthquake show that smoothness-constrained regularized inversion method combined with active constraint balancing approach is effective, and can be reasonable to reconstruct coseismic slip distribution on fault.

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.

Analysis of Foreign Trade Among Slovakia and the Country V4 After the Changeover

The article presents the situation in foreign trade among Slovakia and the country V4 （Czech Republic, Hungary, Poland, and Slovak Republic） after the changeover in 2009. At a time of economic crisis, Slovakia acceded to the adoption of a common currency--the euro. Prior to the adoption of the euro, apprehensions were raised due to currency decreased export from Slovakia to countries V4. In this article, author analyses the mutual foreign trade of Slovakia with countries of V4 for all commodities in standard international trade classification （SITC） codes. The analysis covers the time before the adoption of the euro from 2004 to 2008 and after the adoption of the euro in the years from 2009 to 2013. It compares the percentage change over the previous year, the balance of foreign trade, and foreign trade turnover. The same analysis is also done for the period prior to the adoption of the euro as a whole and after the adoption of the euro. In the calculations, data from UN Comtrade Database were used, which are indicated in USD. The results indicate that in the transition to the common currency, the euro did not mean for Slovakia worsening trade with V4 countries. Economies of these countries have long been linked and even the possibility of its own monetary policy does not endanger Slovakia＇s export to these countries.

China's Service Trade and Dwindling Current Account Surplus

Recent years have seen sharp increases in China’s trade de ficit in services,especially in tourism,arousing concerns over a potential capital flight from China.Such concerns appeared to be justi fied by China’s balance of payments data,whose statistical scope was of ficially modi fied retroactively since 2014.To overcome the impact of changing statistical approach,this paper uses banks’cross-border customer payment and receipt data to re-estimate China’s service trade,and finds that China’s service imports did not increase abnormally from 2014 to 2016 as some researchers reckoned.With the re-estimated service trade data,we find that the relationship between China’s GDP per capita and travel imports as a share of service imports since 2001 tallies with those of emerging Asian industrial countries before the Asian Financial Crisis in 1997,indicating that China’s travel import growth in recent years did not deviate from the long term trend and international experience.Furthermore,this paper finds that China’s travel imports did not signi ficantly in fluence the stock and housing markets in the US,Hong Kong and the EU as major travel destinations,thus refuting the argument that massive capital has fled China for overseas markets.

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.

Trade Development and Global Crisis Influence

The purpose of this paper is to create a comprehensive analysis of the development of foreign trade in the global world, the process of divergence of exports and imports under the influence political and economic changes in Europe and the economic crisis in the world. Data from world public databases are summarized to a clear and understandable form. We analyzed the share of imports and exports （due to the global trade is presented） and its potential impact on the development of current account balance （CAB） for the United States of America （USA）, the European Union （EU）, and China. Correlation coefficient timeline for the last decade of CAB and world trade is also presented to show the influence of trade flow in the world and the EU with respect to current account. The work emphasizes the clear and understandable processing of the required data, which are then formulated to make arguments and then used to make predictions of further development of world trade. From summarized data, future crisis can be predicted and impacts can be evaluated.

Commodities Boom and the Structure of Sino-Brazilian Trade: A Study of the Period 2000-2021

The present study aims to analyze the growing Sino-Brazilian trade relationship and how China has contributed to the commodity price boom in the recent period.Throughout the article,it was possible to identify that the export and import agenda between countries differs in terms of number of products and technological intensity,so that imported products are capital intensive,while exported products are predominantly commodities.The text is divided into two main sections,firstly addressing the literature review on the commodities boom and highlighting the“China effect”.The second section analyzes trade between the countries,so that the trade relationship has followed an increasing trajectory since 2003.As of 2009,China has become Brazil’s main trading partner,surpassing historical partners such as the United States and Argentina.

全面禁止抑或严格限制:我国竞业限制制度的模式选择与规范进路

竞业限制涉及用人单位的商业秘密权与劳动者的就业权,并对公共利益产生影响,相关制度设计及其司法适用应当平衡好各方权益。立法的不完善和司法审查的宽松标准助长了用人单位滥用竞业限制。在大力发展新质生产力的背景下,虽然我国不能移植美国最新的“全面禁止”规则,但可以借鉴美国审理竞业限制可执行性的司法经验,在竞业限制领域建立起较为严格的二重审查基准,并配套以预防“事实竞业限制”的相关措施。

中国式现代化视域下的贸易强国建设

贸易强国建设是中国式现代化建设的重要内容。中国贸易强国建设要兼顾跨国投资、国际贸易以及储备资产的变化,结合国际收支进行优化调整,设计贸易强国建设的实施路径,逐步实现国际收支整体平衡、经常账户结构平衡以及贸易账户结构平衡。在建设贸易强国的策略上,要发挥超大规模市场与强大生产能力的优势,提升国际循环质量;加强自主创新与绿色低碳转型,塑造国际贸易新优势;加速数字产业化与产业数字化,打造国际贸易新形态;构建东西互济的双向开放新格局,拓展国际贸易新空间;推进高水平对外开放与国际经济秩序改革,营造国际贸易新环境。

An Empirical Analysis of the Foreign Trade Balance in China

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.

Trade Balance: Numbers Can be Deceiving

Trade disputes have become more prevalent and acute in recent years. Almost all center on bilateral trade balance and/or market access of certain merchandise or services. However, since at least the mid 1980s, affiliate sales have become a more direct and more powerful form of market access than the traditional cross-border commercial transactions for developed countries, whereas developing countries still rely predominantly on traditional trade. The importance of the international production supply chain is increasing with a bias against downstream producers. The current data collection and compilation system of trade balance can not reflect these changes in the world economic environment. It overstates exports of developing countries and understates their imports. None of the countries in the world can illustrate the weakness of the conventional system better than China.

面向生态价值空间平衡的“生态券”理论解析与交易机制研究:以江阴为例

随着生态文明建设的持续深化,生态产品价值实现日益成为践行“绿水青山就是金山银山”理念的有形抓手。为探究生态产品价值可持续提升的有效路径,通过构建以“生态券”为载体的生态指标交易机制,探讨多元主体参与下生态价值与发展空间之间的平衡关系。结果表明:(1)“生态券”是生态空间占补平衡市场化交易的媒介,可基于生态系统服务功能价值核算得到,具有可交易、可考核的基本特性;(2)“生态券”交易是多元空间价值平衡的实践探索,不同利益主体通过市场化交易方式,最终实现土地资源空间优化配置;(3)“生态券”运行机制包括产生、核发、交易、使用、管理等环节,涉及行政主管方、销售方和购买方等市场主体以及中介经济机构等。建议从供给和需求角度明确分工协作制度,基于政策法规、技术规范和监督管理体系构建“生态券”运行保障机制。研究结果将为丰富生态产品价值实现路径和推动生态经济健康发展提供参考。