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"China's accession to the World Trade Organisation (WTO) in 2001 was hailed as the natural conclusion of a long march that started with the reforms introduced by Deng Xiaoping in the 1970s. However, China's participation in the WTO since joining has been anything but smooth, and its self-proclaimed "socialist market economy" system has alienated many of its global trading partners - as recent tensions with the United States exemplify. Prevailing diplomatic attitudes tend to focus on two diametrically opposing approaches to dealing with the emerging problems: the first is to demand that China completely overhaul its economic regime; the second is to stay idle and accept that the WTO must accommodate different economic regimes, no matter how idiosyncratic and incompatible. In this book, Mavroidis and Sapir propose a third approach. They point out that, while the WTO (as well as its predecessor, the General Agreement on Tariffs and Trade [GATT]) has previously managed the accession of socialist countries or of big trading nations, it has never before dealt with a country as large or as powerful as China. Therefore, in order to simultaneously uphold its core principles and accommodate China's unique geopolitical position, the authors argue that the WTO needs to translate some of its implicit legal understanding into explicit treaty language. Focusing on two core complaints - that Chinese state-owned enterprises (SOEs) benefit from unfair trade advantages, and that domestic companies (both private as well as SOEs) impose forced technology transfer on foreign companies as a condition for accessing the Chinese market - they lay out their specific proposals for successful legislative amendment"--.
An exploration of the current state of global trade law in the era of Big Data and AI. This title is also available as Open Access on Cambridge Core.
China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.
In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.
This volume examines the range of Non-Trade Concerns (NTCs) that may conflict with international economic rules and proposes ways to protect them within international law and international economic law. Globalization without local concerns can endanger relevant issues such as good governance, human rights, right to water, right to food, social, economic, cultural and environmental rights, labor rights, access to knowledge, public health, social welfare, consumer interests and animal welfare, climate change, energy, environmental protection and sustainable development, product safety, food safety and security. Focusing on China, the book shows the current trends of Chinese law and policy towards international standards. The authors argue that China can play a leading role in this context: not only has China adopted several reforms and new regulations to address NTCs; but it has started to play a very relevant role in international negotiations on NTCs such as climate change, energy, and culture, among others. While China is still considered a developing country, in particular from the NTCs’ point of view, it promises to be a key actor in international law in general and, more specifically, in international economic law in this respect. This volume assesses, taking into consideration its special context, China’s behavior internally and externally to understand its role and influence in shaping NTCs in the context of international economic law.
Snyder's book consists of a series of integrated studies of sites of governance, global legal pluralism and the regulation of international trade.
This book presents a comprehensive survey of Chinese legal and regulatory systems governing international trade following China's accession to the World Trade Organisation (WTO) and the coming into force of the revised PRC Foreign Trade Law. It provides a systematic and in-depth analysis on the text of applicable Chinese laws and rules,with a particular focus on their practical application. It also critically explores whether international trade regulation in China complies with the WTO Agreement both in the text and in spirit and identifies areas where improvements by Chinese trade regulators would be desirable.The book starts with an analysis of basic issues of international trade regulation in China. Part II, covers foreign trading rights, trade restrictions and prohibitions, licensing and quotas, customs regulation, health, safety and technical standards, and trade in technology. Part III discusses trade protection and remedies available under PRC law, in the form of anti-dumping law, anti-subsidy law, safeguarding measures and trade retaliation. Part IV explores new regulatory issues, including trade promotion, trade and competition, trade and IP rights protection, and resolution of trade disputes. The book combines analysis with detailed practical advice and will be of interest to academics, practitioners and policy makers.
A critical review of recent U.S. trade policies that have failed to enforce sufficient reciprocity and overall trade balance, with suggestions for policies that foster a more balanced and realistic pattern of world trade growth.
This book provides readers with a unique opportunity to learn about one of the new regional trade agreements (RTAs), the China–Australia Free Trade Agreement (ChAFTA), that has been operational since December 2015 and is now at the forefront of the field. This new agreement reflects many of the modern and up-to-date approaches within the international economic legal order that must now exist within a very different environment than that of the late eighties and early nineties, when the World Trade Organization (WTO) was created. The book, therefore, explores many new features that were not present when the WTO or early RTAs were negotiated. It provides insights and lessons about new and important trade issues for the twenty-first century, such as the latest approaches to the regulation of investment, twenty-first century services and the emerging digital/knowledge economy. In addition, this book provides new understandings of the latest RTA approaches of China and Australia. The book's contributors, all foremost experts on their subject matter within this field, explore the inclusion of many traditional trade and investment agreement features in the ChAFTA, showing their continuing relevance in modern contexts.
China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global supply chains, China is now moving up the value chain, “onshoring” the production of higher-value-added upstream products and moving into more sophisticated downstream products as well. At the same time, with its wages rising, it has started to exit some lower-end, more labor-intensive sectors. These changes are taking place in the broader context of China’s rebalancing—away from exports and toward domestic demand, and within the latter, away from investment and toward consumption—and as a consequence, demand for some commodity imports is slowing, while consumption imports are slowly rising. The evolution of Chinese trade, investment, and consumption patterns offers opportunities and challenges to low-wage, low-income countries, including China’s neighbors in the Mekong region. Cambodia, Lao P.D.R., Myanmar, and Vietnam (the CLMV) are all open economies that are highly integrated with China. Rebalancing in China may mean less of a role for commodity exports from the region, but at the same time, the CLMV’s low labor costs suggest that manufacturing assembly for export could take off as China becomes less competitive, and as China itself demands more consumption items. Labor costs, however, are only part of the story. The CLMV will need to strengthen their infrastructure, education, governance, and trade regimes, and also run sound macro policies in order to capitalize fully on the opportunities presented by China’s transformation. With such policy efforts, the CLMV could see their trade and integration with global supply chains grow dramatically in the coming years.