IGT | Inside Global Trade
Working Paper No. 201804
April 3, 2018
U.S.-China Trade Imbalance and the Results of Trade Conflict
Ma Tao
The very success of globalization has flourished since World War II. The benefits of economic globalization are not evenly distributed among countries, especially among different groups within a country. Before the financial crisis in 2008, as the major promotors of globalization, developed countries intensified their internal contradictions. So populism, protectionism and isolationism are rising in many developed countries, which are the main features of anti-globalization.
Brexit happened against the polls in 2016, in large part, because of the migrant crisis tipping the British towards protection of its borders. In the beginning of his presidency, Donald Trump declared to withdraw from TPP, build Mexican border wall, renegotiate NAFTA and so on. Trump’s protectionism policies may be gradually implemented in 2017. Going on like these, the tide of anti-globalization may be further strengthened in the future.
Chapter 1 High interdependence of U.S.-China economies
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Chapter 2 Either winner or loser of U.S.-China trade: industrial complementarity
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Chapter 3 Understanding the nature of U.S.-China trade
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Chapter 4 U.S.-China trade conflicts lead to closed economy
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