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...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.展开更多
The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the ...The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the U.S.International Development Finance Corporation(DFC),to enhance U.S.development financing capabilities.To better understand the impact of the DFC on China’s development finance,this article analyzes the DFC’s purpose,functions,structure,and funding.Then it focuses on the purpose of establishing the DFC,providing a preliminary analysis of the potential motivation for its establishment.It also compares the China Development Bank(CDB)and the DFC based on their focused sectors.Finally,through an in-depth analysis of financial frictions in China-U.S.relations,this article argues that the DFC competes with China’s overseas development financing activities in the context of broader strategic competition between China and the U.S.展开更多
Emissions trading systems(ETSs)are a widely used policy tool for driving emissions reductions and serve as an avenue for international climate cooperation.Following the recent global agreement on carbon market standar...Emissions trading systems(ETSs)are a widely used policy tool for driving emissions reductions and serve as an avenue for international climate cooperation.Following the recent global agreement on carbon market standards at COP26,this study explores linked ETSs as an avenue for the U.S.and China to cooperate on climate action.The emissions,energy,and economic effects of linked ETSs are analyzed through the China-in-Global Energy Model(C-GEM),a multi-regional,computable general equilibrium model.Assuming the development of national economy-wide ETSs,two scenarios are developed linking China and the U.S.:1)a bilateral U.S.-China ETS linkage 2)a multilateral ETS linkage that includes China,the U.S.,and nations in Southeast Asia.Results indicate that emissions and energy consumption outcomes would be similar in the bilateral and multilateral scenarios.However,economic outcomes are more favorable in the multilateral linkage scenario.When China and the U.S.engage in bilateral ETS linkage,China predominantly benefits from additional support for domestic decarbonization while the U.S.benefits from increased GDP compared to without ETS linkage.Adding Southeast Asia to establish multilateral linkage improves GDP outcomes for all participants,reducing adverse effects on China's GDP while boosting GDP for the U.S.and Southeast Asia.For policymakers considering the design and implementation of international ETSs,this study presents updated modeling on the effects of ETS linkage on each country as well as the economic benefits of expanding participation to additional regions.展开更多
基金the Vermont Agricultural Experiment Station at the University Vermont,USA,and the National Social Science Fund of China(17ZDA067)for financial support of this project。
文摘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.
文摘The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the U.S.International Development Finance Corporation(DFC),to enhance U.S.development financing capabilities.To better understand the impact of the DFC on China’s development finance,this article analyzes the DFC’s purpose,functions,structure,and funding.Then it focuses on the purpose of establishing the DFC,providing a preliminary analysis of the potential motivation for its establishment.It also compares the China Development Bank(CDB)and the DFC based on their focused sectors.Finally,through an in-depth analysis of financial frictions in China-U.S.relations,this article argues that the DFC competes with China’s overseas development financing activities in the context of broader strategic competition between China and the U.S.
基金funding support from the National Key R&D Program of China(2017YFA0605302,2017YFA0605304)。
文摘Emissions trading systems(ETSs)are a widely used policy tool for driving emissions reductions and serve as an avenue for international climate cooperation.Following the recent global agreement on carbon market standards at COP26,this study explores linked ETSs as an avenue for the U.S.and China to cooperate on climate action.The emissions,energy,and economic effects of linked ETSs are analyzed through the China-in-Global Energy Model(C-GEM),a multi-regional,computable general equilibrium model.Assuming the development of national economy-wide ETSs,two scenarios are developed linking China and the U.S.:1)a bilateral U.S.-China ETS linkage 2)a multilateral ETS linkage that includes China,the U.S.,and nations in Southeast Asia.Results indicate that emissions and energy consumption outcomes would be similar in the bilateral and multilateral scenarios.However,economic outcomes are more favorable in the multilateral linkage scenario.When China and the U.S.engage in bilateral ETS linkage,China predominantly benefits from additional support for domestic decarbonization while the U.S.benefits from increased GDP compared to without ETS linkage.Adding Southeast Asia to establish multilateral linkage improves GDP outcomes for all participants,reducing adverse effects on China's GDP while boosting GDP for the U.S.and Southeast Asia.For policymakers considering the design and implementation of international ETSs,this study presents updated modeling on the effects of ETS linkage on each country as well as the economic benefits of expanding participation to additional regions.
