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The Us-China Trade War. What'S At Stake?

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  • Agnes Ghibuţiu

Abstract

After being trapped in an increasingly fierce and devastating trade war over the last months,Washington and Beijing managed to conclude a temporary truce during President Trump's meetingwith Chinese President Xi Jinping on the sidelines of the G20 summit in Buenos Aires.Starting from the analysis of the current state of the US-China trade war, this article aims to:(1) highlight the effects of this trade war, both from the perspective of the parties implied, and theglobal trading system; (2) reveal the reasons behind this war, as well as its real stakes; and (3) assessthe outlook for this war in the light of the recent US-China ceasefire. While the temporary truce in theUS-China trade war does not solve the fundamental differences between the two nations, it allows theresumption of the negotiations to resolve a trade dispute that has dangereously escalated over the lastmonths, damaging the global economy. The trade war between the two largest economies in the worldis far from over. There is also little hope for the two sides to strike a comprehensive agreement in thenear future, and the prospects for the long-term Sino-American relationship are fraught with majoruncertainties.

Suggested Citation

  • Agnes Ghibuţiu, 2018. "The Us-China Trade War. What'S At Stake?," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 10(4), pages 1-35.
    • Handle: RePEc:iem:journl:v:10:y:2018:i:4:p:1-35
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    File URL: http://iem.ro/rem/index.php/REM/article/view/680/761
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    More about this item

    Keywords

    United States; China; trade policy; tariffs; trade war;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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