2020
DOI: 10.1111/cwe.12323
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Why Does the US Face Greater Disadvantages in the Trade War with China?

Abstract: The rhetoric used by President Trump regarding the trade war against China is rife with misinterpretation. The actual American trade deficit with China is much lower if evaluated in the correct terms of value-added. The deficit is mainly a result of insufficient domestic US savings. In addition, as the US dollar is an international currency which is being increasingly held as a result of increases in world population, income, prices and transaction intensity, Americans can benefit from having trade deficits of… Show more

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Cited by 3 publications
(1 citation statement)
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“…Using Eaton and Kortum's 2002 multi-sector, multi-country general equilibrium model with intersectional linkages, Guo et al (2018) found that the USA would experience large social welfare losses, whereas China may lose or gain slightly depending on the effect of the trade war on the USA-China trade balance. A conclusion shared by Ng (2020). Bouet and Laborde (2018) evaluated the potential impact of trade wars on the USA, China, and Mexico and found that there is no scenario under which the USA benefits from either protectionism applied on these two trading partners or a trade war with them.…”
Section: Literature Reviewmentioning
confidence: 99%
“…Using Eaton and Kortum's 2002 multi-sector, multi-country general equilibrium model with intersectional linkages, Guo et al (2018) found that the USA would experience large social welfare losses, whereas China may lose or gain slightly depending on the effect of the trade war on the USA-China trade balance. A conclusion shared by Ng (2020). Bouet and Laborde (2018) evaluated the potential impact of trade wars on the USA, China, and Mexico and found that there is no scenario under which the USA benefits from either protectionism applied on these two trading partners or a trade war with them.…”
Section: Literature Reviewmentioning
confidence: 99%