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jerryking : wto   11

Canada blunders and dithers its way to a failing grade on China relations - The Globe and Mail
GORDON RITCHIE
SPECIAL TO THE GLOBE AND MAIL
PUBLISHED 1 DAY AGO

The stage was set when the World Trade Organization admitted China as a member in 2001. In the intervening years, China has taken extraordinary advantage of the resulting opportunities to flood richer markets with low-cost consumer goods, while importing, borrowing or stealing technologies from more developed countries. Concern is mounting in the Asia-Pacific region that this one-way bargain is unsustainable.
Canada  China  Canada-China_relations  Huawei  missteps  mistakes  predatory_practices  WTO 
january 2019 by jerryking
Globe editorial: Why the Meng case feels like a replay of 2001 - The Globe and Mail
On Sept. 10, 2001, if you’d asked a random collection of international policy experts to name the biggest challenge to the global order, most of them would have given a one-word answer: China.....And then 9/11 happened. Nearly two decades later, it’s as if the world has awakened from that detour to find itself at its original destination, and much sooner than expected.

A China once rising has now risen – by some measures, it’s already the world’s largest economy......It’s why the arrest this month of Meng Wanzhou in Vancouver, and China’s response, feel like a kind of replay of the Hainan incident – but under very different circumstances. Compared with 2001, today’s China is far more powerful. It is also more than ever at the centre of the global economic and political system. Yet, it doesn’t always follow the rules and norms of that system. And that has created a paradox – the paradox expected by pre-9/11 analysts. China is part of the system. It is also an antagonist.

Though it’s put itself and its products at the centre of the international economy, China also operates with one foot outside of the international order. For example, it’s part of the WTO and its free-trade rules, from which it benefits. But it takes advantage of the rules more than it follows them.

It’s part of a global co-operative of organizations such as Interpol....but earlier this year, the man it placed at the head of the organization was effectively disappeared by his own government.....It’s also a government that responded to the arrest of Ms. Meng by kidnapping two Canadians on invented charges...The case is a reminder of the two big China challenges that Ottawa, and its allies, must grapple with.

The fact that China is part of the international economy and the largely open movement of goods and people is a good thing.....However, China has abused the invitation to join the international trading system. The Trump administration is right that China is an unfair trader. The trade relationship has to be realigned. The goal should not be to shut China out. It must be to ensure that China is made fully part of the system and is bound by rules imposed by the rest of the developed world, which together is much wealthier and more powerful than China.
Canada  Canada-China_relations  China  China_rising  developing_countries  editorials  foreign_policy  Huawei  international_system  Meng_Wanzhou  multipolarity  paradoxes  piracy  reprisals  rogue_actors  U.S.-China_relations  WTO 
december 2018 by jerryking
Trump’s beggar-thy-neighbour trade strategy is anything but foolish - The Globe and Mail
CHRISTIAN LEUPRECHT AND ROGER BRADBURY
CONTRIBUTED TO THE GLOBE AND MAIL.

The U.S. administration’s tariffs are actually perfectly rational – from Mr. Trump’s perspective (i.e. his worldview).

The extent of the punitive tariffs Mr. Trump is imposing is unprecedented. They threaten to bring down the system of global trade – Bretton Woods' meticulously calibrated, multilateral system of rules has 164 member-states and comprises tens of thousands of products--by design.

World Trade Organization (WTO) tribunals – which are about to grind to a halt because the United States has not named a judge to the seven-member Appellate Body – were meant to ensure that everyone sticks to the rules....
The President is now intent on destroying co-operation within the WTO by driving wedges between the world’s trading blocs and countries. The United States would be in a much stronger position if it could negotiate with each trade bloc directly. ....Mr. Trump’s recent musings about replacing NAFTA with two separate trade agreements with Canada and Mexico are further evidence to that effect. Canada risks selling out the WTO by making concessions to the United States.

China, too, is negotiating bilaterally with the United States and is already caving to American demands. In the end, the large trading blocs are likely to divide up the world among themselves; countries with little leverage, such as Canada, could become collateral damage......Where once the goal of the United States was to rise to global hegemony, today its goal is to maintain that dominance.

So, that same rules-based system is now causing competitors.... Under these conditions, it is no longer in the interest of the United States to co-operate; as the global political and economic hegemon, the United States can win a strategic competition for wealth and power. Everyone ends up poorer, but the United States remains top dog because everyone else grows poorer faster than the United States. Beggar thy neighbour. Literally.

But being frank will not sit well with Canadians; painting Mr. Trump as a crazy buffoon is more politically expedient. So, along with the EU and China, Canada falls right into Mr. Trump’s bilateral trade-negotiation trap. R.I.P. WTO. Score: Trump 1; Canada 0.
beggar-thy-neighbour  bilateral  Canada  Canadian  China  collateral_damage  crossborder  Donald_Trump  EU  international_system  international_trade  Justin_Trudeau  middle-powers  multilateralism  negotiations  punitive  rules-based  tariffs  WTO  worldviews  mercantilism  zero-sum  NAFTA  Bretton_Woods 
june 2018 by jerryking
China Started the Trade War, Not Trump
March 23, 2018 | WSJ | By Greg Ip.

Even free traders and internationalists agree China’s predatory trade practices—which include forcing U.S. business to transfer valuable technology to Chinese firms and restricting access to Chinese markets—are undermining both its partners and the trading system....starting in the 1980s, economists recognized that comparative advantage couldn’t explain success in many industries such as commercial jetliners, microprocessors and software. These industries are difficult for competitors to enter because of steep costs for research and development, previously established technical standards, increasing returns to scale (costs drop the more you sell), and network effects (the more customers use the product, the more valuable it becomes).......In such industries, a handful of firms may reap the lion’s share of the wages and profits (what economists call rents), at the expense of others. China’s efforts are aimed at achieving such dominance in many of these industries by 2025.
China  China_rising  comparative_advantage  Donald_Trump  Greg_Ip  increasing_returns_to_scale  myths  network_effects  predatory_practices  protectionism  tariffs  technical_standards  trade_wars  U.S.-China_relations  winner-take-all  WTO 
march 2018 by jerryking
A New U.S. International Economic Strategy - WSJ.com
February 5, 2013 | WSJ | by Robert Zoellick.

A New U.S. International Economic Strategy
Taking the lead on trade and open markets can enhance global security, opportunity and the prospects for liberty.

(1) First, this country should strengthen its continental base by building on the North American Free Trade Agreement with Canada and Mexico.
(2) the extraordinary monetary policies of late, led by the Federal Reserve's continued near-zero interest-rate policy, are taking us into uncharted territory.
(3)the U.S. needs to break the logjam on opening markets.
(4)Fourth, gender equality is not only fair and right—it is smart economics.
(5) Finally, the U.S. needs to match growth priorities of developing economies.
globalization  international_trade  Robert_Zoellick  NAFTA  IMF  WTO  economic_policy  gender_gap  entrepreneurship  Junior_Achievement  infrastructure 
february 2013 by jerryking
How Foreign Companies Can Compete in China - WSJ.com
AUG. 23, 2010 | WSJ | By DENIS F. SIMON AND LEONARD M. FULD.
Prepare to Be Surprised in China. The 1 thing companies can count on is
that things are constantly changing. There are 3 critical—and perhaps
unexpected—competitive issues to be mastered. FLUIDITY: the biggest
challenge facing foreign companies in China is the constantly shifting
business environment. This fluidity stems from several factors:
Enforcement of rules and regulations in China can vary widely by
location and change without warning; partners routinely abandon
contracts for better offers; and new competitors can emerge and become
major threats almost overnight. And because information doesn't flow
freely, anticipating the direction and thrust of change can be
problematic, even for the most seasoned of managers with yrs. of
experience working in China. WTO FALLOUT: China's accession to the WTO
actually has made competing in China more difficult for foreign
companies. TALENT SHORTAGE:
China  ksfs  WTO  talent_management  competitive_strategy  constant_change  fluidity 
august 2010 by jerryking

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