3 lawder david imfs lagarde says china needs to do

  • No School
  • AA 1
  • 25

This preview shows page 3 - 5 out of 25 pages.

3 Lawder, David. “IMF’s Lagarde says China needs to do more to cut steel capacity.” Reuters . March 1, 2018. - china-steel/imfs-lagarde-says-china-needs-to-do-more-to-cut-steel-capacity-idUSKCN1GD661. 4 Kenderdine, Tristan. “China’s Industrial Policy, Strategic Emerging Industries and Space Law.” Asia & the Pacific Policy Studies , Vol. 4, no.2 (2017): 325-342. 5 United States Trade Representative. 2018 Report to Congress on China’s WTO Compliance . February 2019. files/2018-USTR-Report-to-Congress-on-China%27s-WTO-Compliance.pdf. 6 Wu, Mark. “The ‘China, Inc.’ Challenge to Global Trade Governance.” Harvard International Law Journal , Vol. 57, No. 2, (Spring 2016).
Image of page 3

Subscribe to view the full document.

The US-China economic relationship: A comprehensive approach 4 Given that the tariffs imposed to date by the U.S. and China are not WTO consistent, as discussed below, any U.S.-China deal should aim to bring tariffs back to their WTO-bound levels when specific benchmarks are met, but with scope for tariff snapbacks in the event of noncompliance. The U.S. and China should make such a deal WTO consistent by seeking a WTO waiver. Such an approach is a pragmatic compromise that recognizes that the U.S. and China will likely focus on bilateral negotiations to address their trade issues, while minimizing the harm to the WTO as an institution. The U.S. and China should also renew efforts to complete a comprehensive bilateral investment treaty (BIT) with an aggressive nine-month schedule. A bilateral deal should avoid commitments by China to increase purchases of U.S. exports, and reducing the bilateral trade deficit should not guide the negotiations or determine success. Increased U.S. exports, whether to China or elsewhere, need to be in response to market forces and not undercut broader U.S. demands for less state intervention. Such an arrangement would be inconsistent with U.S. values, adopt a managed trade framework more akin to the Chinese model, would likely be WTO inconsistent, and could disadvantage U.S. allies. The role for the WTO The WTO is a set of globally agreed upon trade rules that provide a basis for identifying where China fails to comply with existing commitments. The U.S. could then also identify where Chinese practices are of concern, but not disciplined by WTO rules, to justify where bilateral or unilateral action may be necessary. In terms of what the U.S. could seek to pursue at the WTO: The U.S. should work with China to agree to an in-depth review at the WTO of China’s compliance with its WTO commitments. The U.S. should work through the WTO to ensure that China gives a full accounting of its SOE activities and subsidies as required of any WTO member and pursuant to its Protocol of Accession.
Image of page 4
Image of page 5
  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes