...1 of 17 Xianghui(Ray) Chen 2153583 China and Global Financial Crisis US-Led TPP VS China-Backed RCEP —Applying Main IR Theories To US Policy-Making Process And Relevant Developments The backdrop of the TPP and RCEP WTO and TPP TPP and TTIP are drawn from the two precedent successful free-trade experiments, the EU and NAFTA(North American Free Trade Agreement). EU originated from the European Coal and Steel Community, before developing into the Common Market and further into European Community, and finally, into the EU. 1The ‘living’, ‘evolving’ treaties and agreements of the EU very much guide the living agreement of TPP/TTIP. NAFTA originated from CUSFTA (Canada-US FTA), which was implemented in 1989, and followed by NAFTA, ratified in 1994. Both EU and NAFTA existed before the WTO finally replaced GATT at the beginning of 1995. The replacement not only greatly expanded sectoral coverage but also replaced the GATT’s quite weak dispute-settlement mechanism.2 The liberalization and integration of trade had mainly proceeded under the auspice of WTO prior to the year 2000. With the evolvement characterized by the widening of the trade agenda to include the movement of people and not just that of goods, services, investments and capital,3 international society called for an update of the WTO. Although the Doha round did inspire some discussion in 2001, developing states fundamentally refused to open their market to the services and goods of the developed ones...
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...Thomson, M. (2013). Trade partnership competition: TPP vs RCEP. The Strategist. http://www.aspistrategist.org.au/trade-partnership-competition-tpp-vs-rcep/ Yu, W. (2013). TPP Talks Show Promise for US Asia Strategy—With or Without China. The Diplomat. http://thediplomat.com/pacific-money/2013/08/02/ tpp-talks-show-promise-for-us-asia-strategy-with-or-without-china/ ANU, S. A. (2011). China’s participation in the Trans-Pacific Partnership . East Asia Forum. http://www.eastasiaforum.org/2011/12/11/china-participation-in-the-trans- pacific-partnership/ UI, B. P. (2012). Will RCEP compete with the TPP?. East Asia Forum. http://www.eastasiaforum.org/2012/11/28/will-rcep-compete-with-the-tpp/ Ponnudurai, P. (2013). China vs. US in Proxy Trade Battle. Radio Free Asia. http://www.rfa.org/english/commentaries/east-asia-beat/tpp-02052013221256.html U.S. is becoming the global leader and is now dominating TPP. Nowadays, U.S. wants to combine with countries that involved TPP to put pressure on other agreements or on the other countries that are not involved, both strategic dimension and economic dimension. In this paper, I will briefly discuss with TPP versus RCEP and TPP versus China. the tpp is foucs on the preferential trade agreement with few exemptions and extensive regulatory alignment, in the area such as labor law, environmental protection and intellectual property rights. RCEP stands for the Regional Comprehensive Economic Partnership. This is a newly proposed...
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...Pacific nations for free trade and to establish a trilateral free trade agreement with China and South Korea. Negotiations in this landmark free trade pact are taking place now in Phnom Pehn following the ASEAN Summit. If or once it is formed the RCEP is likely to cover half of the world’s population and would be the largest regional trading arrangement in the world to date. The RCEP is a strategy aimed at maintaining regional growth by ensuring that markets of the participating countries remain open and competitive. It is estimated that Japan’s GDP will grow by 1.1 percent with a wide range of partnership frameworks: tariff reductions and intellectual property protection. Under RCEP, which is different from individual country to country rules, there is a unification of rules and simpler business transaction procedures. The potential free trade agreements between ASEAN and China, Japan, South Korea, India, Australia and New Zealand could eventually lead to the creation of an integrated market that spans 16 countries with a combined market population of more than 3 billion people and a combined GDP of about US$19.78 trillion based on 2011 figures. The barriers are the economic gap between the 16 potential members: GDP $67,000 - $804 and differences in economic activity. The US-led TPP which stands for Trans-Pacific Partnership, On November 12, 2011, the Leaders of the nine TPP countries – Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore...
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...Intellectual Property proposals put forth by the U.S. These proposals threaten to dial back public health safeguards set forth in the 2007 New Trade Deal of the Bush administration, increase prices of consumer goods, and restrict access to information on the internet. -There are 12 countries involved in negotiations, with China as an observer and considering entry. Overall, these countries make up about 40% of the world GDP and offer access to huge markets for the U.S. Nonetheless, the threat of losing jobs overseas, as with most FTAs, is cause for concern. -Past FTAs have resulted in an increase in U.S. trade deficit and a loss of jobs. However, analysis shows that American firms can benefit from these agreements as well with increased exports to new markets. Brief History The Trans-Pacific Strategic Economic Partnership Agreement is a free trade agreement with the goal of liberalizing the borders and economies of the Asia-Pacific Region and was initiated in 2005 by Chile, New Zealand, Singapore, and later Brunei. Eight more countries have joined in the negotiations since 2008: the United States, Australia, Vietnam, Peru, Malaysia, Mexico, Japan, and Canada. China has also expressed interest in joining the agreement, but is not as of yet directly involved in negotiations. So far,...
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...Trans-Pacific Partnership The Trans-Pacific Partnership (TPP) is a commercial agreement pursued by the Obama Administration that rivals the WTO in scale. It would link Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam, and the United States into a free-trade zone similar to that of NAFTA. Proponents of this partnership, which includes 600 corporations, declare that it will (1) support the creation and retention of jobs in the aforementioned countries; (2) boost competitiveness, thereby benefitting consumers in these regions and promoting economic growth therein, and; (3) increase the standard of living and reduce poverty in the countries[1]. The TPP is the first agreement negotiated from the ground up by the Obama Administration and represents an ambitious, next-generation, Asia-Pacific partnership. Through this agreement the Administration is seeking to boost the U.S. economy, by increasing exports to a region that includes some of the world’s most robust economies. The large and growing markets in Asia-Pacific are already key destinations for U.S. manufactured goods, agricultural products, and services suppliers. The TPP aims to further deepen this trade and investment relationship. The Obama Administration, in collaboration with Congress and a wide range of stakeholders, is negotiating to conclude this progressive agreement that aims to address the issues that U.S. businesses and workers are facing in the 21st century. Trade Ministers...
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...PSCI 2750 INTERNATIONAL RELATION DR. TUNKU MOHAR BIN TUNKU MOHD MOKHTAR SECTION 2 SEMESTER 1 2015/2016 “A RESEARCH ON INDONESIA’S INTEREST TOWARDS JOINING TRANS PACIFIC PARTNERSHIP” Prepared By: Muhamad Fadel Wijaya (1221665) Muhamad Fatih Azka (1311515) Ahmad Azzam Al-Qoyyimuddin (1313511) KIRKHS INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA TABLE OF CONTENTS 1st Chapter: Introduction A. Background...............................................................................................................3 B. Importance of the Topic...........................................................................................3 C. Research Question....................................................................................................4 D. Argument and Hypothesis........................................................................................4 2nd Chapter: Theoretical Framework A. Definition of Key Terms............................................................................................5 B. Literature Review......................................................................................................6 C. Collection of Data…………………………………………………………………………………….…..7 3rd Chapter: Case Study………………………………………………………………………………………….8 4th Chapter: Conclusion……………..…………………………………………………………………………11 References…………………………………………………………………………………………………………..12 CHAPTER 1 INTRODUCTION A. BACKGROUND President Joko...
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...1. US sets preliminary anti dumping duties on steel rebar from Mexico and Turkey Source: www.steelguru.com - Wednesday, 23 Apr 2014 Reuters reported that the US Commerce Department set preliminary duties on millions of dollars worth of imports of steel rebar from Mexico and Turkey after a complaint by US producers about price undercutting by foreign competitors. The department set dumping duties of up to 66.7% on imports from Mexico and duties of up to 2.6% on Turkish imports after American producers alleged companies from the two countries were selling steel rebar, which is used to reinforce concrete, at unfairly low prices. A final decision is due on July 2. The US International Trade Commission and the Commerce Department launched investigations after a petition was filed last year by Nucor Corporation, Commercial Metals Company and other manufacturers. The trade commission found there was reasonable indication the imports are harming local firms. Mr John Ferriola CEO of Nucor said that “Imports from Mexico and Turkey had doubled since 2010 and were having a devastating impact on the industry”. Commerce said that in 2013 imports of steel concrete reinforcing bar from Mexico were valued at an estimated USD 182.1 million and from Turkey at USD 381.3 million. The manufacturers accuse Mexican and Turkish competitors of unfairly undercutting US prices to grab sales and market share, a trade strategy known as dumping. US manufacturers also claimed rebar imports...
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... The Rise of China (Geopolitical) · Economic growth enabled assertive, belligerent stance in APAC region · Impact on supranational organization – eg, UN security council, Diaoyu, East China Sea, Chinese presence in Africa, Caribbean islands · Chequebook diplomacy (http://www.ft.com/intl/cms/s/2/7f7b0d8e-5ea8-11e3-8621-00144feabdc0.html#axzz2sVcKseFs) · TPP vs. RCEP The Rise of China vs US http://www.eastasiaforum.org/2012/11/28/will-rcep-compete-with-the-tpp/ http://www.eastasiaforum.org/2014/01/19/averting-economic-cold-war/ http://www.foreignaffairs.com/articles/67479/charles-glaser/will-chinas-rise-lead-to-war http://www.foreignaffairs.com/articles/63042/g-john-ikenberry/the-rise-of-china-and-the-future-of-the-west http://www.ft.com/intl/cms/s/2/7f7b0d8e-5ea8-11e3-8621-00144feabdc0.html#axzz2sVbrGylD The U.S. wields a power of influence, persuasion, and leadership on the international stage that no other state comes close to. She sets international law, ignores international law, and is accountable to no one. China, while clearly jockeying for authority and power, does not yet have legitimacy. If China continues on this path of questionable governance and cavorting with questionable allies, no serious block of internationally influential states will support a Chinese hegemony over the current U.S. one. And so, China will remain a strong regional and international player, but one that plays second fiddle to the U.S. China has recently claimed...
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...The global economy is constantly changing due to emerging patterns of financial, trade and human capital flows and their effects on national economics, the relationship between economic, political and social outcomes along with the interaction of nations through multilateral agreements. This paper explores the types and levels of economic integration and in particular the integration of the US with other markets. Focusing on trade through the NAFTA, the advantages that TPP and T-TIP could offer and the beginning of a fruitful partnership with Africa through the AGOA. Economic integration is an arrangement between different regions marked by a reduction or elimination of trade barriers and coordination of monetary and fiscal policies. There are various economic and political reasons as to why nations would want to pursue economic integration. Removing trade barriers comes with costs and benefits, depending on the degree of integration and the level of cooperation between member regions. Integration is believed to lead to lower prices for consumers and producers, thus causing the volume of trade to increase. However for nations outside integration agreements, barriers to trade can be created, as they may not be able to compete with preferred trading partners. When economies are strong, integration has benefits for all the members and each union can experience certain economic growth. The same holds true of economic downturns, if one member of a trade agreement begins to...
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...North C arolin a Polic y Wa t c h Cru cial Co nv ersa tion The Trans-Pa cific Partnership: Worse than NAFTA? Septemb er 2013 Lori Walla ch Public Citizen’s Global Trade Watch Outcomes of 20 Ye ars of NAFTA, WTO, FTAs… Crushing of Americ an Middle Class: more than 5 million US manufa cturing jobs (1 out of 4) & 60,000 US manufa cturing fa cilities gone. Millions of service sector jobs offshored: c all centers, computer, programming, engineering, a cc ounting. Wage “arbitrage” in a ra ce- to-the- bottom. U.S. re al median wages at ‘70s levels. Income inequality at Robb er-Baron-era levels. When manufa cturing, good jobs go tax bases shrink – and schools, public services, infrastructure cut, and construction sector unemployment soars. Floods of unsafe imported food, products. Financial deregulation, instability and repe ated financial crises. He alth, labor, land use, other public interest laws around world atta cked in foreign tribunals. Some dump ed. Initiatives chilled. Billions extra cted from taxpayers and paid to corporations for violations of new “rights.” Drug prices up. In poor nations, de adly cut in a cce ss to meds. Rich nation higher prices slam poor consumers, govt budg ets as Big PhRMA profits soar. U.S. loses 170,000 family farms. In ‘12, volume of U.S. food exports only 1% higher than ’95 (when NAFTA-WTO started). Imports of food now 97% above ‘95 level. Livelihoods of tens of millions of pe asant farmers destroyed, mass migrations...
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...countries that involve in that agreement. The goals of the Trans-Pacific Partnership (TPP), a much-delayed but significant trade agreement between 12 countries in Asia-Pacific and the Americas pushed by the US are increasingly becoming clearer after ongoing talks reveal some of the intentions Washington is pursuing with this pact. The highlighted of the agreement is to increase in import growth is projected to outpace increase in export growth, as the reductions in import tariffs and non-tariff measures (NTM) are larger for Malaysia relative to the other TPPA countries. According to The New York Times, economists are sharply split over the positive and negative effects of TPP, and both "opponents and supporters of the trade accord have quickly seized upon whichever analysis buttressed their own views. ECIPE has said in 2014 that TPP "will be the first ‘competing’ economic integration that is large enough to have a considerable negative impact on Europe. In the long-term, the negative effects will come from dynamic impact, e.g. on investment, productivity and competitiveness". Pascal Lamy called the TPP ‘the last of big old-style trade agreements’. It has said to be a negative impact on the oil and gas sector whose share of GDP is 12 per cent. PETRONAS stands to benefit very little from TPPA as 74 per cent of its exports are to non-TPPA Parties. INTRODUCTION Trans-Pacific Partnership (TPP) turn out to be a trade agreement that has been signed by twelve countries on 4...
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...What are these links: these links take you to a number of Financial Times articles. At first glance they seem connected with international trade, and so you might initially think that perhaps they would have been better served when we come to talk about international trade in a few weeks’ time. However, if you read the articles carefully then it soon becomes apparent that the motivating factors for the TPP; the TTIP; the new Silk Road; and the AIIB is political in nature. In the case of the TPP, to constrain the rise of China; in the case of AIIB, to act as a counter weight to the American dominated World Bank; in the case of TTIP the politics come in through the controversial decision to allow multinational firms to by-pass country specific democratic process and take sovereign governments to court. Finally, the new Silk Road allegedly will facilitate the rise of a new Chinese empire. In short, economics and politics are two sides of the same coin! http://www.ft.com/cms/s/0/62613e6a-6b5a-11e5-aca9-d87542bf8673.html#axzz3nnxovOLg http://www.ft.com/cms/s/0/d4a31d08-6b4c-11e5-8171-ba1968cf791a.html%23axzz3nlirRmIU http://www.ft.com/cms/s/0/df9ce46c-6aea-11e5-8171-ba1968cf791a.html#axzz3nhcLrEUY http://www.ft.com/cms/s/0/ac8ee418-6c24-11e5-aca9-d87542bf8673.html#axzz3nskylvln http://www.ft.com/cms/s/0/e104d4b8-6c11-11e5-aca9-d87542bf8673.html#axzz3nskylvln http://www.ft.com/cms/s/0/3e314a7a-5c74-11e5-a28b-50226830d644.html#axzz3nhcLrEUY http://www.ft.com/cms/s/0/23c51438-64ca-11e5-a28b-50226830d644...
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...America’s most prosperous nations and its economy has grown an average of 5% in the last 4 years. Chile is dependent on foreign trade and its trade in good’s share in GDP rose from 44% in 1990 to 69.6% in 2008.The diversity of imports has increased and the number of countries where Chile exports their products has increased as well. Chile main imports are: crude, petroleum, chemicals, electronics and telecom equipment, natural gas, industrial machinery, vehicles, mobile phones and house equipment. In 2008 a 0% MFN was established for imports such as machinery, vehicles, tools and equipment used for production of goods and services. Moreover, there are not import duties imposed on data processing equipment. Major import partners are USA, China, Brazil, Argentina, South Korea and Japan. Others include Mexico, Colombia and Ecuador. In order to allow new...
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...2. Supply chain management Concepts: Supply chain management is: “The systemic, strategic coordination of the traditional business functions and the tactics across these business functions within a particular company and across businesses within the supply chain, for the purposes of improving the long-term performance of the individual companies and the supply chain as a whole.”—from Mentzer, DeWitt, Deebler, Min, Nix, Smith, and Zacharia in their article Defining Supply Chain Management in the Journal of Business Logistics (Mentzer, John T.,William DeWitt, James S. Keebler, Soonhong Min, Nancy W. Nix, Carlo D. Smith, and Zach G. Zacharia, 2001, “Defining Supply Chain Management,” Journal of Business Logistics,Vol. 22, No. 2, p. 18). 3 Basic Concepts of Supply Chain Management Hugos_ch1.1.qxd 11/5/02 11:30 AM Page 3 Supply chain management is the coordination of production, inventory, location, and transportation among the participants in a supply chain to achieve the best mix of responsiveness and efficiency for the market being served. II. Strengths and weaknesses of Vietnam garment industry 1. Strengths Vietnam is highly appreciated for political stability, social safety and attractive market for traders as well as foreign investors. Government has priorities and measures to encourage investment in the garment industry such as tax incentives for the import of raw materials to produce for re-export in 3-4 months; corporate income tax exemptions, etc. The...
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...Japanese Political and Economic Systems Jorden Beale Thomas Edison State College July 1, 2016 With a population of 127.1 million people, Japan is ranked third in terms of nominal GDP as of 2015. It is a country of ever evolving political and economical systems. Globalization has played a large part in the development in Japan's economy and stability. This island located in the Pacific ocean to the West of the United States, Japan has been heavily impacted by both American culture and politics. The geography of Japan makes it easily accessible to other Asian and Mediterranean countries as well, helping Japan grow in trade even further. Compared to the U.S., Japan has had a very different political systems, legal systems, economic developments, global economic changes, and economic transitional methods. Japan has been a democracy since 1947. Democracy was one of the terms of surrender after WWII, and the United States helped Japan rebuild after the war. Currently, Japan has two houses of parliament that is responsible for governance. From the majority party, a prime minister is elected via vote within the parties. This is different from the U.S., where popular vote tends to have a direct sway in who is elected as leader. The current prime minister is Shinzo Abe of the Liberal Democratic Party (LDP). The Liberal Democratic Party is known to be the more conservative party and they also held power in Japan from 1955 all the way to 1993...
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