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The US-China trade war: dominance of trade or technology?

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  • Anthony W. Chen
  • Jim Chen
  • V. Reddy Dondeti

Abstract

The primary goal of this paper is to provide insight into the causes that led to the current U.S. – China trade war. It discusses the importance of the ‘Belt and Road Initiative’ and the ‘Made in China 2025’ programs to Beijing’s realization of the ‘Chinese dream’, which refers to the avoidance of the middle-income trap and the accomplishment of the nation’s great rejuvenation. This paper points out the leading roles played by the state-owned enterprises in the above two programs and reviews their destabilizing effects on the Chinese society. This paper also describes the measures taken by the U.S. to counter China’s efforts to become the new superpower, thereby preserving its preeminent position in the world. In addition, the paper discusses the steps taken by Beijing to try to satisfy Washington’s demand. The authors posit that the trade war is not, in fact, about trade but about technological dominance, and that both sides might fall into ‘Thucydides’s Trap,’ the pattern of large-scale conflict when a rising power challenges a dominant one. According to the events that have transpired thus far, it appears our current trajectory is towards conflict and a cold war

Suggested Citation

  • Anthony W. Chen & Jim Chen & V. Reddy Dondeti, 2020. "The US-China trade war: dominance of trade or technology?," Applied Economics Letters, Taylor & Francis Journals, vol. 27(11), pages 904-909, June.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:11:p:904-909
    DOI: 10.1080/13504851.2019.1646860
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    Cited by:

    1. Ayberk SEKER & Oktay Kaan HÃœGÃœL, 2021. "How Trade Wars Affect Exports of the Belt and Road Countries: New Evidence from Dynamic Panel Data Analysis," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 6(1), pages 82-98, June.
    2. Chih‐Hai Yang & Kazunobu Hayakawa, 2023. "The Substitution Effect of US‐China Trade War on Taiwanese Trade," The Developing Economies, Institute of Developing Economies, vol. 61(4), pages 324-341, December.
    3. Deepika Krishnan & Vishal Dagar, 2022. "Exchange Rate and Stock Markets During Trade Conflicts in the USA, China, and India," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 14(2), pages 185-203, May.
    4. Shi, Yujie & Wang, Liming & Ke, Jian, 2021. "Does the US-China trade war affect co-movements between US and Chinese stock markets?," Research in International Business and Finance, Elsevier, vol. 58(C).
    5. Borsi, Mihály Tamás & Valerio Mendoza, Octasiano Miguel & Comim, Flavio, 2022. "Measuring the provincial supply of higher education institutions in China," China Economic Review, Elsevier, vol. 71(C).

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