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41. The Effects of the United States-China Trade War During the COVID-19 Pandemic on Global Supply Chains: Evidence from Viet Nam

Author:
Duc Anh Dang and Ngoc Anh Tran
Publication Date:
08-2023
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
The trade war between the United States (US) and China has affected their bilateral trade as well as that with other countries. This study investigates how Vietnamese firms performed during the COVID-19 pandemic under the shadow of this trade war. The change in the log of Vietnamese exports to the US from 2017 to 2020 is used to measure the impact of the trade war, and the change in the log of Chinese exports to the US is then used as an instrument for the Vietnamese export change during the same period. It is found that firms that faced more trade war exposure increased their investment, profit, and value added, which may be due to the market exit of unproductive firms. Moreover, the trade war impact is more pronounced for large firms. Foreign-invested firms gained less from trade war exposure. The pandemic weakened the trade war effect on firm performances; however, it exacerbated the trade tension effect on foreign-trade firms.
Topic:
Bilateral Relations, Investment, Trade, and COVID-19
Political Geography:
China, Asia, North America, and United States of America

42. U.S.-China Data War Intensifies as Bilateral Relations Nosedive

Author:
Willy Wo-Lap Lam
Publication Date:
04-2023
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
U.S.-China relations appear headed for further deterioration despite the People’s Republic of China’s (PRC) efforts to lure back American multinationals and Beijing’s relatively limited support for Russia in its war with Ukraine. Washington has characterized the “existential competition” with the Chinese Communist Party (CCP) as an entrenched struggle on all fronts, but the data and information sectors have recently become areas of particularly intense contention. The Xi Jinping leadership has sternly retaliated against purported efforts by the U.S. and its allies to choke off the PRC’s high-tech development pathways. Recent moves targeting American and other foreign firms are also closely linked to General Secretary Xi Jinping’s obsession with cybersecurity and control of data. Last weekend, the Cyberspace Administration of China (CAC), the administrative arm of the policy-setting Central Cyberspace Affairs Commission (CCAC) that Xi chairs, announced an investigation into the operations of leading American memory-chip maker Micron Technology. The CAC cited the need to safeguard the supply chains of Chinese IT and data companies. Regardless, Micron, whose China operations account for 11 percent of worldwide sales, has insisted that it “stands by the security of our products” (Straits Times, April 1; South China Morning Post [SCMP], March 31).
Topic:
Bilateral Relations, Cybersecurity, Information Technology, and Data Governance
Political Geography:
China, Asia, North America, and United States of America

43. PLA Views on US-China Relations

Author:
Yawei Liu and Andrew J. Nathan
Publication Date:
12-2023
Content Type:
Video
Institution:
Weatherhead East Asian Institute, Columbia University
Abstract:
There is a wider range of views on U.S.-China relations, including how to handle the Taiwan issue, than is generally known. Dr. Liu will discuss the range of views on these issues among senior military officers.
Topic:
Bilateral Relations, Armed Forces, People's Liberation Army (PLA), and Perception
Political Geography:
China, Taiwan, Asia, North America, and United States of America

44. Despite disruptions, US-China trade is likely to grow

Author:
Megan Hogan and Gary Clyde Hufbauer
Publication Date:
10-2023
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
The United States and China hit record trade levels in 2022, despite a prickly relationship, suggesting that calls for severe or even total economic decoupling between the world’s two economic superpowers may be ill-advised, say Hogan and Hufbauer. The dollar value of US-China trade grew significantly between 2019 and 2022, notwithstanding declines in trade flows of certain products such as semiconductors and aircraft due to the trade war. The persistence and even growth of the two countries’ total trade despite political and economic disputes reflects the mutual benefit that private firms see in this commercial relationship. The authors conclude that partial decoupling between the United States and China has not, so far, redrawn the world trade map. Nor does it seem likely to do so on an aggregate trade basis between now and 2025.
Topic:
Foreign Policy, Bilateral Relations, Trade Policy, and Semiconductors
Political Geography:
China, Asia, North America, and United States of America

45. The Economic Impact of China PNTR Repeal

Author:
David Schockenhoff and Michael Kleiman
Publication Date:
11-2023
Content Type:
Special Report
Institution:
Oxford Economics
Abstract:
As scepticism towards China is rising among policymakers, businesses grow more concerned about the potential economic fallout from an escalation in US-China tariff policy. Oxford Economics was commissioned by the US-China Business Council (USCBC) to help inform the policymaking process by examining two scenarios that could materialize if China’s Permanent Normalized Trade Relations (PNTR) status was revoked – including the increase of US tariffs on Chinese goods to column 2 rates as well as a Chinese retaliation imposing pre-WTO rates on US goods. Our analysis incorporates state-of-the art trade and economic models, including the Oxford Economics GEM, and finds that the US could lose up to $1.9trn in output over the five-year period following a China PNTR repeal. This is our third study for USCBC after examining the impact of the US-China relationship and associated scenarios in two previous reports (2017 and 2021).
Topic:
Economics, Politics, Bilateral Relations, Regulation, Tariffs, Trade, Supply Chains, Policymaking, Decoupling, and Goods and Services
Political Geography:
China, Asia, North America, and United States of America

46. Pariah or Partner? Reevaluating the U.S.-Saudi Relationship

Author:
Jon Hoffman
Publication Date:
09-2023
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
The U.S.-Saudi relationship is stuck. America’s policy toward the kingdom is rooted in flawed rationales and supported by a system of lobbying and influence designed to sustain the status quo. Those policies are proving ineffective at navigating the changing landscape, both in the Middle East and globally, while reaping virtually no benefits for the United States. The longer these fruitless policies persist, the more they will harm U.S. interests. The long-standing rationales for close U.S.-Saudi relations—centered on oil, counterterrorism, and preserving regional stability—are flawed. What Washington needs from the region on those issues is quite limited and simple to achieve. Despite the high costs and dubious benefits of the current approach to Saudi Arabia, there is a growing chorus in Washington to deepen the relationship with Riyadh. New rationales for expanding the relationship include the return of great power competition to the Middle East and the expansion of the Abraham Accords, which are increasingly being linked together as the new lodestar of Middle East policy. These new rationales also do not withstand scrutiny. It is time for a fundamental reevaluation of the U.S.-Saudi relationship. The United States should approach Saudi Arabia as it would any other state that does not share our interests or our values: from arm’s length.
Topic:
Foreign Policy, Bilateral Relations, Political stability, and Strategic Interests
Political Geography:
Middle East, Saudi Arabia, North America, and United States of America

47. 2023 EAI Public Opinion Poll on the International Affairs: ① The US and the ROK-US Relations

Author:
East Asia Institute (EAI)
Publication Date:
10-2023
Content Type:
Commentary and Analysis
Institution:
East Asia Institute (EAI)
Abstract:
In celebration of the 70th Anniversary of the ROK-US alliance, East Asia Institute (EAI) conducted a public opinion poll to assess the Korean people`s perceptions of the United States and the ROK-US alliance. EAI presents the survey results in chart form in the `EAI Public Opinion Briefing.` While many respondents acknowledged the historical benefits of the ROK-US alliance to Korea`s development in the areas of security, economy, and politics over the past 70 years, they expressed reserved outlooks on the current state and future progress of the alliance. Furthermore, the survey results revealed complex viewpoints regarding the role and scope of the alliance, South Korea`s contribution to it, and the extended deterrence provided by the United States.
Topic:
International Affairs, Bilateral Relations, Public Opinion, and Polls
Political Geography:
South Korea, North America, and United States of America

48. The New Domestic Politics of U.S.-China Relations

Author:
Evan S. Medeiros
Publication Date:
12-2023
Content Type:
Special Report
Institution:
Asia Society
Abstract:
The U.S.-China relationship has come to largely define geopolitics in the 21st century, and the bilateral relationship is today often conceived primarily in terms of geopolitical tensions and great power jockeying on the global stage. However, there is more to U.S.-China strategic competition than the geopolitical level. In particular, the influence of domestic political dynamics in both countries is a widely underappreciated factor driving both U.S. and Chinese foreign policy decision-making, including vis-à-vis each other. What are these shifting domestic forces in both countries that are most influencing the relationship, in what ways, and to what effect? In this groundbreaking new report, The New Domestic Politics of U.S.-China Relations, Asia Society Policy Institute's Center for China Analysis Senior Fellow for Foreign Policy Evan S. Medeiros conducts an in-depth investigation and analysis of these questions. He finds substantial new dynamics at play in both countries that have had an increasingly negative impact on U.S.-China ties. In the United States, Congressional activism, electoral politics, public opinion, and shifting roles for interest groups are all influencing U.S. debates, policymaking, and actions — governmental and nongovernmental alike. In China, centralization of decision-making processes, constraints on formerly key actors, shifting national-level priorities, and other structural political and personnel changes are today directly and indirectly influencing Chinese perceptions, policies, and behaviors toward the United States.
Topic:
Foreign Policy, Bilateral Relations, Geopolitics, and Domestic Politics
Political Geography:
China, Asia, North America, and United States of America

49. Anchoring the U.S.-Philippines Alliance

Author:
Mico Galang, April Arnold, Japhet Quitzon, Brynn Park, Thomas Shattuck, and Jeffrey Ordaniel
Publication Date:
12-2023
Content Type:
Special Report
Institution:
Pacific Forum
Abstract:
The U.S.- Philippine Alliance has advanced significantly over the past two years. The period of transition, from Duterte to Marcos, and the renewed American commitment to the Indo-Pacific under Joe Biden were key determinants. Institutionalizing this progress in ways that allow the alliance to better withstand political changes, both in Washington and Manila, and to better deal with emerging regional security challenges is imperative.
Topic:
Foreign Policy, Bilateral Relations, Alliance, and Regional Security
Political Geography:
Philippines, North America, Asia-Pacific, and United States of America

50. From Non-Alignment to Realignment

Author:
Akhil Ramesh and Cleo Paskal
Publication Date:
09-2023
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Pacific Forum
Abstract:
The US and India expanded cooperation across various domains in the second reporting period of 2023. The two moved to materialize projects and initiatives that were conceived in the first quarter, in wide-ranging domains with significant geopolitical and geoeconomic scope including defense cooperation, critical and emerging technologies, and infrastructure development. While New Delhi continued to straddle groupings such as BRICS, Shanghai Cooperation Organization, and the Quadrilateral Security Dialogue, the US-India partnership broke ground on more initiatives than any of India’s other bilateral relationships. Modi and Biden visited each other’s capitals and reaffirmed their commitment to a rules-based international order. The rousing reception Modi received in Washington and the continued US preeminence in most major trade and technology initiatives conceived by India highlighted the growing partnership between the two democracies. And the two leaders, while facing elections next year, seem willing to work together on common global priorities—sometimes at domestic political costs. Also, while taking place outside the May-August reporting period, the enormous groundwork Delhi laid over the summer (and earlier), plus the absence of Xi Jinping and Vladimir Putin, transformed the G20 meeting that took place in September into an event that showcased India’s leadership in finding common ground between the priorities of the Global South and the US. The result was potentially transformative geoeconomic initiatives that could reshape geopolitics, and encourage, for example, the conditions necessary for a free, open and inclusive Indo-Pacific. This wasn’t the India of nonalignment; this was an India shaping a realignment, with tacit US support.
Topic:
Foreign Policy, International Cooperation, Bilateral Relations, and Realignment
Political Geography:
South Asia, India, North America, and United States of America