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11. Renewable Energy in Trade Wars: Solar Power in South Korea’s Energy Mix and the Impact of Protectionism

Author:
June Park
Publication Date:
01-2019
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
This paper examines the impacts of global competition in solar panel production and the conflict of domestic interests among solar-related industries in the U.S. on South Korea’s solar-focused renewable energy policy. Examining the Moon Jaein administration’s energy policy amid the impact of the U.S. safeguard on South Korean solar panels, the paper argues a) the U.S. safeguard is a hindrance to South Korea’s path forward on solar panel production, and b) Moon’s sole focus on sustainability and his ambitious solar energy target will result in further adoption of lower-cost Chinese solar panels, foregoing the opportunity to upgrade South Korean panels. As South Korean firms announce their decisions to relocate to the U.S. to avoid U.S. safeguard tariffs, the paper recommends the destinations of South Korean solar panel exports be diversified and the goals of South Korean energy policy be centered on balancing cost, stability, and sustainability. The paper does not necessarily recommend a full-fledged drive on expanding solar energy use in South Korea; rather, it calls for the strategic reevaluation of energy policy upon which a clear and sound strategy for solar energy should be formulated.
Topic:
Energy Policy, Bilateral Relations, Trade Wars, Renewable Energy, and Solar Power
Political Geography:
Asia, South Korea, North Korea, Korea, and United States of America

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

Author:
Felipe González and Nicolas Véron
Publication Date:
08-2019
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
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:
International Relations, Economics, Trade Wars, and Trade Policy
Political Geography:
China, Europe, Asia, North America, United States of America, and European Union

13. U.S.-China Relations: The Way Forward

Author:
P. H. Yu
Publication Date:
01-2019
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
As confrontation looms over Washington and Beijing, it is critical to identify the true nature of this challenge from an international relations perspective before any attempt to devise a counter measure. Wrong presumptions or prejudicial interpretations may lead to dire consequences of unforeseeable magnitude. One past example would be the U.S. government’s belief that Iraq was developing weapons of mass destruction (WMDs) before the American invasion in 2003. A more current example would be the American nuclear anxiety on North Korea and how President Trump bypassed conventional American strategic thinking and circumvented hawkish threats of preemptive nuclear annihilation to resolve a “draconian crisis” via “smart diplomacy.” These examples may shed light on a pathway to resolution for the current U.S.-China trade conflict. The United States and China have ample experience of weathering a crisis on the brink of war, whether it was on the Korean Peninsula or in Indochina. China today remains on the U.S. sanctions list for certain high-tech products and military equipment. Both the Trump administration and Congress continue to criticize China regularly, ranging from human rights to religious rights, from the rule of law to the autocratic political system, from the state-owned banks to restrictive market access to foreign corporations, and from currency manipulation to unfair trade practices.
Topic:
International Relations, Bilateral Relations, Trade Wars, and Trade
Political Geography:
China, Asia, North America, and United States of America

14. Trade in Trouble: How the Asia Pacific Can Step Up and Lead Reforms

Author:
Wendy Cutler, Peter Grey, Kim Jong-Hoon, Mari Pangestu, Yoichi Sozuki, and Tu Xinquan
Publication Date:
05-2019
Content Type:
Working Paper
Institution:
Asia Society Policy Institute
Abstract:
The U.S.-China trade dispute has dominated headlines over the past year, disrupting trade and investment flows and increasing uncertainty at a time when the global economy is already facing headwinds. The conflict has left many countries in the Asia Pacific feeling caught in the crossfire seeking to navigate the tensions without alienating either country. While the World Trade Organization (WTO) would ideally help reduce the frictions, it has not been up to the task. The paralysis at the WTO points to a deeper problem: it’s inability to keep up with the pace of change or address the challenges of new developments in advanced technologies and the digital economy. Simply put, the trade regime is in trouble and in need of reform. At this dynamic and uncertain time in trade, the Asia Society Policy Institute (ASPI) convened a group of leading trade experts and former trade officials from across the Asia Pacific, led by ASPI Vice President Wendy Cutler. In this issue paper, the authors examine the major developments in the international trading system, including the U.S.-China trade dispute, FTA activity in the Asia Pacific, and efforts to reform the WTO. In this challenging environment, the authors find that the Asia Pacific is uniquely well-positioned to lead reforms to get the system back on track. This paper is the latest product of the ASPI initiative, “Building a High Standard and Inclusive Asia-Pacific Trade Architecture.” It builds on the work of two previous reports published in March 2017 and January 2018.
Topic:
Economy, Trade Wars, Trade, and WTO
Political Geography:
China, Asia, North America, and United States of America

15. Tariffs will ultimately harm US economy

Author:
Dong Yan and Zang Chengwei
Publication Date:
07-2019
Content Type:
Policy Brief
Abstract:
That Vice-Premier Liu He talked with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on the phone on Monday raises hope that China and the United States would resume the bilateral trade negotiations.
Topic:
Bilateral Relations, Economy, Tariffs, Trade Wars, and Trade
Political Geography:
China, Asia, North America, and United States of America

16. Trade trends show China should take the opportunity to diversify its market

Author:
Dong Yan, Ma Yingying, and Xu Tingting
Publication Date:
05-2019
Content Type:
Policy Brief
Abstract:
The China-US trade row has been drawing a lot of attention. A detailed review of the bilateral trade situation between China and the US from January through April is a good reference for the future trend. Also, as uncertainties loomed amid tariff hikes, some related US industries were afflicted, such as plants, minerals and precious metal in the first quarter.
Topic:
Markets, Tariffs, Trade Wars, Diversification, and Trade
Political Geography:
China, Asia, North America, and United States of America

17. Opinion: What Is China’s Core Economic Interest in Trade War?

Author:
Qiyuan Xu
Publication Date:
02-2019
Content Type:
Policy Brief
Abstract:
The trade conflict between China and the U.S. has lasted for more than half a year. The two sides have held several rounds of consultations, but agreements were later broken and tensions have only intensified. The spat will likely be protracted, with frictions to continue and possibly escalate for a period of time, given the two countries’ diverging interests, public opinions and historical experiences. A broad range of issues are involved in the trade dispute. For example, the U.S. has pressured China on forced technology transfer, talent strategy and industrial policy issues, as well as issues the two sides have long been at odds over, such as intellectual property rights, labor, environmental protection, stateowned enterprise reform and foreign exchange rates. Meanwhile, the U.S. has targeted products and sectors that go well beyond those in which China has a competitive advantage. The U.S. tariffs also target industries that the country plans to focus on for future development.
Topic:
Development, Tariffs, Trade Wars, Trade, and Strategic Competition
Political Geography:
China, Asia, North America, and United States of America

18. Public and Opinion Leaders' Views on US-China Trade War

Author:
Craig Kafura
Publication Date:
06-2019
Content Type:
Special Report
Institution:
Chicago Council on Global Affairs
Abstract:
The Trump Administration has taken an aggressive line on US-China trade issues. Starting with steel and aluminum tariffs in March 2018, the United States has gradually imposed a number of tariffs on various Chinese goods. China responded in turn to each round. Recent negotiations, though initially fruitful, foundered on issues of Chinese subsidies and what US trade representative Robert Lighthizer described as “an erosion in commitments by China.” Now the escalation cycle has resumed. According to surveys conducted in 2018 among foreign policy opinion leaders by the Chicago Council on Global Affairs and the University of Texas, and the results of the 2018 Chicago Council Survey of the general US public, concerns about a potential trade war between the United States and China were already widespread before this most recent escalation.
Topic:
Foreign Policy, International Trade and Finance, Public Opinion, and Trade Wars
Political Geography:
China, Asia, North America, and United States of America

19. Americans Favor US-China Trade, Split Over Tariffs

Author:
Craig Kafura
Publication Date:
09-2019
Content Type:
Special Report
Institution:
Chicago Council on Global Affairs
Abstract:
Over the past 18 months, the United States and China have engaged in a steady escalation of tariffs. Beginning with steel and aluminum tariffs imposed by the Trump administration in March 2018, the trade conflict has expanded to cover hundreds of billions of dollars in bilateral trade. Recent rounds of negotiations have made no new progress and have led to both sides escalating further. The most recent US tariffs on Chinese imports went into effect on September 1, covering $112 billion of goods. Beijing has countered with retaliatory tariffs and has halted all agricultural purchases from the United States, a move targeted at already-struggling US farmers. While Americans broadly support engaging in trade with China, they are split along partisan lines on how to engage in that trade. Republicans support raising tariffs on Chinese imports and believe it will help the US economy in the long run, while Democrats oppose doing so and believe it will be harmful.
Topic:
International Trade and Finance, Bilateral Relations, Tariffs, and Trade Wars
Political Geography:
China, Asia, North America, and United States of America

20. Mexicans, Americans Share Positive Views of USMCA Trade Agreement

Author:
Craig Kafura, Jorge Buendía, and Esteban Guzmán Saucedo
Publication Date:
05-2019
Content Type:
Special Report
Institution:
Chicago Council on Global Affairs
Abstract:
The Trump administration’s push to renegotiate the North American Free Trade Agreement, along with the imposition of steel and aluminum tariffs, has strained an already tense relationship between the United States and Mexico. Despite those tensions, polls conducted by the Chicago Council on Global Affairs and Buendía y Laredo find broad public agreement on trade on both sides of the border. Majorities of both Mexicans and Americans agree that their economic relationship is important, are concerned about a trade war hurting their local economy, see international trade as having a positive impact on their nation’s economy, and expect the newly-signed US-Mexico-Canada Agreement on trade to be good for their nation’s economy.
Topic:
Public Opinion, NAFTA, and Trade Wars
Political Geography:
North America, Mexico, and United States of America