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Transatlantic Divergences in Globalisation and the China Factor

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  • Metivier, Jeanne
  • Di Salvo, Mattia
  • Pelkmans, Jacques

Abstract

The EU and the United States are following divergent paths with regard to their respective trade policies. While the new administration of the United States has made some notably strong statements against further trade liberalisation, the EU continues to favour responsible globalisation. The EU has recently signed a series of free trade agreements (FTAs) as well as plurilateral agreements with its partners (especially, but not only, in East Asia). Consequently, the EU is strengthening its status as a global leader in the debate on economic openness. Conversely, the US has interrupted major negotiations with its trading partners and has renounced trade agreements, such as TPP and TTIP (at least for the time being). This paper provides some empirical economic and social guidance behind the recent policy divergence on globalisation between the US and the EU in general and vis-�-vis China in particular.

Suggested Citation

  • Metivier, Jeanne & Di Salvo, Mattia & Pelkmans, Jacques, 2017. "Transatlantic Divergences in Globalisation and the China Factor," CEPS Papers 12584, Centre for European Policy Studies.
    • Handle: RePEc:eps:cepswp:12584
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    File URL: https://www.ceps.eu/system/files/PI2017-19_TransatlanticDivergencesGlobalisation.pdf
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    References listed on IDEAS

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    1. C. Fred Bergsten & Gary Clyde Hufbauer & Sean Miner & Tyler Moran, 2014. "Bridging the Pacific: Toward Free Trade and Investment between China and the United States," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6918, October.
    2. Maarten Goos & Alan Manning & Anna Salomons, 2014. "Explaining Job Polarization: Routine-Biased Technological Change and Offshoring," American Economic Review, American Economic Association, vol. 104(8), pages 2509-2526, August.
    3. Bekkers, Eddy & Francois, Joseph & Tomberger, Patrick, 2016. "Tomorrow’s Silk Road: Assessing an EU-China Free Trade Agreement," Papers 974, World Trade Institute.
    4. Gary Clyde Hufbauer & Zhiyao (Lucy) Lu, 2017. "The Payoff to America from Globalization: A Fresh Look with a Focus on Costs to Workers," Policy Briefs PB17-16, Peterson Institute for International Economics.
    5. Richard B. Freeman, 1995. "Are Your Wages Set in Beijing?," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 15-32, Summer.
    6. Hu, Weinian & Pelkmans, Jacques, 2017. "China-EU Leadership in Globalisation: Ambition and capacity," CEPS Papers 12585, Centre for European Policy Studies.
    7. Paul Brenton & Jacques Pelkmans (ed.), 1999. "Global Trade and European Workers," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-27035-4, December.
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    1. Hu, Weinian & Pelkmans, Jacques, 2017. "China-EU Leadership in Globalisation: Ambition and capacity," CEPS Papers 12585, Centre for European Policy Studies.

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