U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System

First Japan and more recently China have pursued export-oriented growth strategies. While other Asian countries have done likewise, Japan and China are of particular interest because their economies are so large and the size of the associated bilat...

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Main Authors:	Bown, Chad P., McCulloch, Rachel
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	BILATERAL TRADE IMBALANCES EXPORT-ORIENTED GROWTH STRATEGIES GATT/WTO GENERAL AGREEMENT ON TARIFFS AND TRADE/WORLD TRADE ORGANIZATION INTERNATIONAL TRADING SYSTEM MACROECONOMIC CONDITIONS MARKET-ACCESS BARGAIN
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091104151827 http://hdl.handle.net/10986/4303

id	okr-10986-4303
recordtype	oai_dc
spelling	okr-10986-43032021-04-23T14:02:17Z U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System Bown, Chad P. McCulloch, Rachel BILATERAL TRADE IMBALANCES EXPORT-ORIENTED GROWTH STRATEGIES GATT/WTO GENERAL AGREEMENT ON TARIFFS AND TRADE/WORLD TRADE ORGANIZATION INTERNATIONAL TRADING SYSTEM MACROECONOMIC CONDITIONS MARKET-ACCESS BARGAIN First Japan and more recently China have pursued export-oriented growth strategies. While other Asian countries have done likewise, Japan and China are of particular interest because their economies are so large and the size of the associated bilateral trade imbalances with the United States so conspicuous. In this paper the authors focus on U.S. efforts to restore the reciprocal GATT/WTO market-access bargain in the face of such large imbalances and the significant spillovers to the international trading system. The paper highlights similarities and differences in the two cases. The authors describe U.S. attempts to reduce the bilateral imbalances through targeted trade policies intended to slow growth of U.S. imports from these countries or increase growth of U.S. exports to them. They then examine how these trade policy responses, as well as U.S. efforts to address what were perceived as underlying causes of the imbalances, influenced the evolution of the international trading system. Finally, the authors compare the macroeconomic conditions associated with the bilateral trade imbalances and their implications for the conclusions of the two episodes. 2012-03-19T19:13:36Z 2012-03-19T19:13:36Z 2009-10-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091104151827 http://hdl.handle.net/10986/4303 English Policy Research working paper ; no. WPS 5102 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper China United States Japan
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	BILATERAL TRADE IMBALANCES EXPORT-ORIENTED GROWTH STRATEGIES GATT/WTO GENERAL AGREEMENT ON TARIFFS AND TRADE/WORLD TRADE ORGANIZATION INTERNATIONAL TRADING SYSTEM MACROECONOMIC CONDITIONS MARKET-ACCESS BARGAIN
spellingShingle	BILATERAL TRADE IMBALANCES EXPORT-ORIENTED GROWTH STRATEGIES GATT/WTO GENERAL AGREEMENT ON TARIFFS AND TRADE/WORLD TRADE ORGANIZATION INTERNATIONAL TRADING SYSTEM MACROECONOMIC CONDITIONS MARKET-ACCESS BARGAIN Bown, Chad P. McCulloch, Rachel U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System
geographic_facet	China United States Japan
relation	Policy Research working paper ; no. WPS 5102
description	First Japan and more recently China have pursued export-oriented growth strategies. While other Asian countries have done likewise, Japan and China are of particular interest because their economies are so large and the size of the associated bilateral trade imbalances with the United States so conspicuous. In this paper the authors focus on U.S. efforts to restore the reciprocal GATT/WTO market-access bargain in the face of such large imbalances and the significant spillovers to the international trading system. The paper highlights similarities and differences in the two cases. The authors describe U.S. attempts to reduce the bilateral imbalances through targeted trade policies intended to slow growth of U.S. imports from these countries or increase growth of U.S. exports to them. They then examine how these trade policy responses, as well as U.S. efforts to address what were perceived as underlying causes of the imbalances, influenced the evolution of the international trading system. Finally, the authors compare the macroeconomic conditions associated with the bilateral trade imbalances and their implications for the conclusions of the two episodes.
format	Publications & Research :: Policy Research Working Paper
author	Bown, Chad P. McCulloch, Rachel
author_facet	Bown, Chad P. McCulloch, Rachel
author_sort	Bown, Chad P.
title	U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System
title_short	U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System
title_full	U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System
title_fullStr	U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System
title_full_unstemmed	U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System
title_sort	u.s.-japan and u.s.-china trade conflict : export growth, reciprocity, and the international trading system
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091104151827 http://hdl.handle.net/10986/4303
_version_	1764390839032741888

U.S.-Japan and U.S.-China Trade Conflict : Export Growth, Reciprocity, and the International Trading System

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