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Begin New Search Topic Trade Policy Publication Year within 25 Years

81. Perceiving Truth and Ceasing Doubts: What Can We Learn from 40 Years of China’s Reform and Opening up?

Author:
Fang Cai
Publication Date:
05-2019
Content Type:
Working Paper
Abstract:
China’s reform, opening up and resultant economic growth in the past 40 years haveled to the accumulation of an immense array of experiences, which economists areobligated to look into, analyze and theorize upon. In fact, the rich literature in thisarea has positively assessed and documented China’s successful experiences. However,theories that were established in Western countries have been applied as doctrine tojudge China’s experiences. By adopting an analytical framework unifying historicallogic and theoretical logic, the purpose of this paper is to reveal the unique Chineseexperience and its relevance to the general laws of economic development. Based on theexperiences of and in reference to research findings about China, this paper chroniclesthe process of reform, opening up and economic growth, and analyzes the nexus betweenthem. The study demystifies how the incentive mechanism, the factor accumulation andallocation system, market development, and macro policy environment reforms havespurred China’s economic growth, structural changes and the increase in productivity.The changes in development stage are examined and policy implications for furtherreform are discussed.
Topic:
Reform, Economy, Economic Growth, and Trade Policy
Political Geography:
China and Asia

82. The Effect of Export Insurance and Guarantees on Export Performance: An Empirical Analysis for Korea

Author:
Kyunghun Kim and Hyelin Choi
Publication Date:
08-2019
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
There is a series of empirical papers (Kim and Lee 2004; Egger and Url, 2006; Moser, Nestmann, and Wedow, 2008; Baltensperger and Herger, 2009; Auboin and Engemann, 2014; Van der Veer. 2015) which show that trade finance is positively associated with export. Despite its positive impact on export, trade finance has been a contentious issue in international organizations such as the WTO and OECD in terms of implementing related policy measures. This is based on the argument that trade finance hurts fair international trade because it ultimately plays a role just like a subsidy. Regarding this contentious issue, in this paper we examine whether there is evidence supporting that trade finance is associated with an increase in export. We also investigate the channel through which the effect of the trade finance on export is working. To this end, we focus on a specific part of trade finance: short-term export insurance and export credit guarantee. This is because noble and ample data on these types of trade insurance are available. This confidential data is provided by the Korea Insurance Trade Corporation (henceforth K-SURE) exclusively. We conduct a panel regression using Korean sector-level export data covering from 2010Q1 to 2017Q4. This dataset enables us to control for destination country-, sector-, and time-fixed effects. Our empirical results show that the short-term export insurance and export credit guarantee have a positive impact on exports, and the main channel behind this is related to mitigating financial constraints of exporting firms. The trade finance effectively eliminates the risk of importers' payment, which helps export firms reduce the financial frictions. This ultimately leads to an increase in export. Since the main mechanism in which the trade insurance affects export is related to alleviating financial frictions, it becomes more definite that the way how trade insurance contributes to an increase in export is somewhat different from that of a subsidy. When we consider the fact that financial friction is an important factor for restraining international trade, which can partly explain the great collapse in international trade during the global financial crisis, the trade insurance policies would rather be a useful policy measure which can dampen negative impact on export during recession.
Topic:
Finance, Economic Policy, Exports, and Trade Policy
Political Geography:
Asia and South Korea

83. National Models for Managing Trade of Strategic Goods

Author:
Kyaw Si Thu
Publication Date:
10-2019
Content Type:
Working Paper
Institution:
Pacific Forum
Abstract:
The largest country in mainland Southeast Asia with a population of 53 million and located strategically between China and India, Myanmar plays a significant role geographically, economically and politically in the most rapidly advancing region in the world. As Myanmar opens up, investment and trade have grown significantly. Trade policies have been, and continue to be, revised in line with regional and global commitments and in accordance with liberal principles. According to UNSCR 1540, UN member countries have a responsibility to control the transfer, transit and production of WMD and related materials. As a UN member country, Myanmar should implement UNSCR 1540 for regional and international peace and security through the trade sector.
Topic:
Economics, International Trade and Finance, Economic structure, Trade, and Trade Policy
Political Geography:
Southeast Asia, Myanmar, and Asia-Pacific

84. Balancing Strategic Trade Control Implementation with the Broadening Role of Technology and Financial Controls in Foreign Policy

Author:
Crystal Pryor
Publication Date:
01-2019
Content Type:
Special Report
Institution:
Pacific Forum
Abstract:
The Pacific Forum, National Chengchi University’s Institute of International Relations, and I-Shou University’s Department of Public Policy and Management with support from the Taiwan Coast Guard, Prospect Foundation, Ocean Affairs Council, and the US State Department’s Export Control and Related Border Security Program held their eighth annual strategic trade control (STC) workshop on Nov. 7-8, 2018 in Kaohsiung, Taiwan. Nearly 40 participants from relevant government agencies and nongovernmental organizations attended in their private capacities. Discussions focused on the status of outreach programs in the Asia-Pacific, proliferation finance controls, issues associated with technology controls and transfers, the relationship between foreign policy and nonproliferation goals, and transit/transshipment and port security.
Topic:
Foreign Policy, International Trade and Finance, Science and Technology, Regulation, Finance, and Trade Policy
Political Geography:
Asia-Pacific

85. EU Trade Policy amid the China-US Clash: Caught in the Cross-Fire?

Author:
Ana González and Nicolas Véron
Publication Date:
08-2019
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
China's rapid rise and unique economic system and the increasingly aggressive and disruptive US trade policy are posing an unprecedented threat to the global rules-based trading and economic system. The European Union has critical interests at stake in the current escalation, even as it has so far been comparatively spared from US trade policy belligerence and China's reactions. In this context, the European Union should adopt an independent and proactive stance, building on recent efforts and going beyond them. The European Union, even more than the United States or China, has a strategic interest in the preservation of the global rules-based order embodied by the World Trade Organization (WTO). It must play a leading role in steering WTO reform and modernization, working closely with broadly aligned third countries such as Japan and other players. It should expand its outreach beyond its immediate negotiating counterparts in both the United States and China, and leading European officials at both the EU and member state levels should work at better understanding China. While strengthening its domestic policy instruments to address new challenges, such as the screening of foreign direct investment for security purposes, the European Union must also resist its own temptations of protectionism and economic nationalism. In support of these objectives, the European Union should prepare itself for difficult decisions, which may involve revising some of its current red lines in international trade negotiations. Conversely, the European Union should stand firm on principles such as refusing one-sided agreements and rejecting abusive recourse to national security arguments in trade policies. The European Parliament, in working with the European Council and the European Commission, will have a critical role to play in steering the European Union through these challenging times.
Topic:
Bilateral Relations, Economy, Trade Wars, and Trade Policy
Political Geography:
China, Asia, North America, United States of America, and European Union

86. The Economic Importance of the KORUS FTA: A Case Study of the Korean Beef Market After Renegotiations

Author:
Jin Kyo Suh
Publication Date:
05-2018
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
Beef trade was a major sticking point between the United States and South Korea in ratifying the KORUS FTA. The outcome of the renegotiations that led to the March 2018 agreement in principle did not impact sections pertaining to beef in the agreement, though looking at how beef trade would have been affected should the talks have failed highlights the importance of the agreement to both countries, but particularly the United States. This paper estimates the demand for imported beef in South Korea by source and product by using the production version of the Rotterdam demand system and assesses what the potential impact of U.S. withdrawal from the KORUS FTA would have been on beef trade between the U.S. and South Korea. The results suggest U.S. withdrawal from the KORUS FTA would have resulted in a considerable increase in Australian beef exports to South Korea, largely at the expense of U.S. beef. This is because there is significant price competition between beef imports from the United States and Australia. Furthermore, Korean consumers substitute American beef for Australian beef when the relative price of U.S. beef rises.
Topic:
Economics, Treaties and Agreements, Exports, and Trade Policy
Political Geography:
Asia, South Korea, North America, Korea, and United States of America

87. BALANCING AGAINST CHINA WITH THE ASIA-AFRICA GROWTH CORRIDOR: AN INDIAN-JAPANESE INITIATIVE TOWARDS THE INDO-PACIFIC

Author:
Carlos Eduardo Carvalho and João Paulo Nicolini Gabriel
Publication Date:
10-2018
Content Type:
Journal Article
Journal:
Conjuntura Austral: Journal of the Global South
Institution:
Conjuntura Austral: Journal of the Global South
Abstract:
The launch of a vision document for Asia-Africa Growth Corridor (AAGC) at the African Development Bank meeting in Gujarat in 2017 reveals an important aspect to grasp the awkening of a strategy to face China’s rise. This conference of the African Development Bank (AfDB) is a landmark for this initiative. This bank is a mechanism for economic and social development with the participation of non-African members (e.g. China, India, Brazil, the United States, and Japan). The main contributors to the African Development Fund -linked to this bank -are the United Kingdom, the USA and Japan. Beijing does not figure among the most influent members of this organization. Thus, it was an opportunity for think tanks, supported by India and Japan, to introduce the idea of a corridor aimed to link Asia to Africa in order to increase co-operation in agriculture, social development and technology sharing.
Topic:
Development, International Political Economy, International Trade and Finance, Economic Growth, Banks, Trade, Economic Development, Trade Policy, and Economic Cooperation
Political Geography:
Africa, Japan, China, and Asia

88. Political Signals: Why Are Some Countries Abandoning the Dollar in Their Foreign Trade?

Author:
FARAS
Publication Date:
10-2018
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
Several Middle Eastern countries, such as Turkey and Iran, have been recently shifting into international currencies or local currencies, instead of the US dollar, in their foreign trade. This shift comes amid the US economic sanctions on Iran in tandem with its souring relations with Turkey. What is striking in this regard is that there is an international acceptance of other currencies, especially the Chinese yuan, with the pricing of some oil contracts in the same currency. This move seems to have a particular political significance, namely rejecting the impact of the US dollar on the trade of these countries rather than its economic feasibility, amid the sharp fluctuations in the local currencies of Iran, Turkey, and India in the past period.
Topic:
Economics, International Trade and Finance, Currency, and Trade Policy
Political Geography:
Russia, China, Iran, Eurasia, Middle East, North America, and United States of America

89. Macron, Diplomat: A New French Foreign Policy?

Author:
Thomas Gomart and Marc Hecker
Publication Date:
04-2018
Content Type:
Special Report
Institution:
Institut français des relations internationales (IFRI)
Abstract:
How can we define Emmanuel Macron’s foreign policy since he took office? After Nicolas Sarkozy’s brazen style of “gutsy diplomacy” and François Hollande’s “normal diplomacy”, the eighth president of the Fifth Republic seems to have opted for an agile classicism. In substance, he makes no claim to any radical break with the past, but sees his approach as being in line with historical tradition. In relation to his predecessors, he has adjusted the balance between alliances, values, and interests in favor of the latter, while giving his policies an unambiguous European orientation. Formally, his approach is characterized by recourse to symbolism, strict control of communications, and an agile personal style. A term used within the business world to encourage organizations and individuals to adapt and innovate, “agility” also connotes a will to utilize and master new technologies. [...] Comprising 14 brief analyses, this collective study contributes to the initiative launched by Ifri in 2016 to analyze French foreign policy, and follows on directly from the earlier study published on the eve of the presidential election. It aims to give an update on the action Emmanuel Macron has taken on the principal international issues since his arrival in office. It should therefore be read not as an overall assessment, which would be impossible at this early stage of the presidential term, but more as an impressionist tableau giving a sense of an overall movement containing many different hues. Emmanuel Macron has four years left to perfect it.
Topic:
Foreign Policy, Defense Policy, Diplomacy, Trade Policy, and Emmanuel Macron
Political Geography:
Africa, Russia, Middle East, Asia, France, United States of America, and European Union

90. The Global Exchange (Winter 2018)

Author:
Adam Frost, David J. Bercuson, Stephen Blank, Monica Gattinger, Sarah Goldfeder, Colin Robertson, Hugh Stephens, Laura Dawson, Randolph Mank, Ferry de Kerckhove, Colin Robertson, Andrew Caddell, Robert Hage, David Perry, and Kelly Ogle
Publication Date:
12-2018
Content Type:
Journal Article
Journal:
The Global Exchange
Institution:
Canadian Global Affairs Institute (CGAI)
Abstract:
During the 1947 Duncan & John Gray Memorial Lecture then-minister of external affairs, Louis St. Laurent, outlined guiding principles for Canada’s engagement with the world. In his address, he recognized that Canada could not maintain the standard of living Canadians had come to enjoy in isolation from the rest of the world. He said, “[we] are dependent on markets abroad for the large quantities of staple products we produce and cannot consume, and we are dependent on supplies from abroad of commodities which are essential to our well-being.” This irrefutably remains true today. Canada’s ability to utilize its vast wealth of resources has afforded it the opportunity to become one of the most affluent and developed nations in the world, making the preservation of such ability of vital national interest. However, trade in the 21st century is more complex than ever before. Technology allows for transactions between parties scattered across the globe to occur near instantaneously, and complicates the tracking and classification of many goods and services. Moreover, global political developments and economic transformation are threatening the liberal world order built and protected by the United States since the Second World War. China’s emergence as an economic juggernaut is shifting the global economic centre of gravity. Furthermore, reactionary domestic political forces within much of the western liberal democratic world, including the United States, question the value of continued support for the status quo. Tectonic change is afoot. In response, Canada is charting its path to navigate the challenges of 21st century global trade. Prime Minister Justin Trudeau’s Liberal government is pursuing a progressive trade agenda as it seeks to modernize existing agreements, implement newly minted agreements, and explore potential future opportunities. The lead package of this issue examines a multiplex of challenges and opportunities presented to those currently crafting Canadian trade policy. Geographically, it spans not only the management of relations with the United States and NAFTA renegotiation, but also the geopolitical considerations of bolstered engagement with Asia and the underappreciated opportunities present in Africa and South America. In addition to "with whom", this package also addresses the "how and why" of trade: the difficulty of adapting trade practices to the digital age and the costs, benefits and limitations of projecting Canadian values via trade relations. In computer simulated and professional chess matches white consistently wins more often than not. The lack of first-mover advantage is a formidable deficit to overcome. Those who are not leading, are fated to play catch-up. The challenges facing Canada’s policy-makers responsible for protecting and advancing our national interest via trade are legion. To optimally address these challenges, Canada is best served by being proactive at the forefront of negotiations. The benefits of cultivating a proactive posture are enticing, and the costs for failing to do so are avoidable. Canada must adapt to the dynamism of the global economic order, or fight to catch-up.
Topic:
Diplomacy, International Trade and Finance, Science and Technology, Infrastructure, Internet, NAFTA, and Trade Policy
Political Geography:
Africa, Japan, Canada, India, Asia, North America, and United States of America