US-China Tariff War: Anti-Globalisation Wave Blowing in the Wind

• 발행기관: 한국유통과학회
• 저자명: D. Tripati RAO Pravakar SAHOO
• 간행물 정보: 『KODISA ICBE (International Conference on Business and Economics)』2018 International Conference on Business and Economics (ICBE 2018), 135~140쪽, 전체 6쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2018.06.25

영문 초록

With the right-wing “populist nationalism” usurping across Western-World, there is a rise in anti-globalisation; mainly led by US-China tariff war. But what we find is that the genesis of anti-globalization movement is not globalisation itself but the failure of productivity led growth in industrial sector, particularly in Europe and failure of re-destructive policies in developed west, particularly in USA. Reviewing the history of tariff war and welfare maxims of trade policy, we argue that the correct approach to address trade imbalances and to domestic redistributive gorals is through multilateral negotiations but not one of resorting to an abrupt and unilateral trade distortionary measures such as tariffs or quotas. While China must address correcting its sustained trade surplus, retaliatory imposition of tariffs by US, the major beneficiary of cheap imports from China, are not the panacea for global trade globalisation juggernaut.

목차

1. Anti-Globalisation Wave

2. The Datum

3. Revisiting The History of Beggar Thy Neighbor Approach

4. Who Wins? The Normative Welfare Maxims

5. China’s Ascent in World Trade and Its Trade Strategy

6. Rise in Inequality, Populist Nationalism and A Way Forward

키워드

Globalisation Current Account Deficit Inequality Populism Optimal Tariffs