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How Do You Solve a Problem Like Maria? US – Countervailing Measures (China) (21.5)

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  • Nelson, Douglas

Abstract

The rise of China as a genuine world power, economically and militarily, constitutes the gravest challenge faced by the liberal international order constructed in the aftermath of the Great Depression and the Second World War. A major source of strain in the trade relations between China and the other core members of the liberal world trading system is its extensive use of state-owned enterprises as an instrument of general (domestic) economic policy. This paper builds on Ruggie's theory of embedded liberalism and the theory of economic policy to characterize the political and economic difficulties and opportunities in moving toward a new regime for dealing with subsidies. The conclusion sketches some goals such a regime should seek to embody.

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  • Nelson, Douglas, 2021. "How Do You Solve a Problem Like Maria? US – Countervailing Measures (China) (21.5)," World Trade Review, Cambridge University Press, vol. 20(4), pages 556-565, October.
    • Handle: RePEc:cup:wotrrv:v:20:y:2021:i:4:p:556-565_14
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    References listed on IDEAS

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    1. Bernard Hoekman & Douglas Nelson, 2020. "Rethinking international subsidy rules," The World Economy, Wiley Blackwell, vol. 43(12), pages 3104-3132, December.
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    Cited by:

    1. Escaith, Hubert, 2022. "From Hyper-globalization to Global Value Chains Decoupling: Withering Global Trade Governance?," MPRA Paper 115267, University Library of Munich, Germany.

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