US – China Trade War: Economic and Legal Aftermaths
https://doi.org/10.46272/2221-3279-2022-1-2-13-98-115
Abstract
The China-US trade war, which was the result of differences in the production structure of the two countries, systemic contradictions in foreign economic policy principles and the struggle for global leadership, has a significant impact on global trade flows and market conditions. The article aims to identify the key beneficiaries of the trade war, to assess the situation in individual industry markets, as well as global legal effects, which remain out of academic discourse. US pharmaceutical companies and manufacturers of electronic integrated circuits, diodes, transistors, semiconductors and other high-tech components are the main beneficiaries of the trade war, while US consumers are facing rising import prices. Chile, Malaysia, Argentina, Brazil, Canada are external beneficiaries due to the growth in the supply of agricultural products and metals. Malaysia, Vietnam, Taiwan, Hong Kong, Singapore, South Korea and Japan win in electronics, while Vietnam, Pakistan, Bangladesh, Sri Lanka, Cambodia, as well as India get additional advantages in textile production. The United States aimed at ousting China from the world rare earth metals market, forming an investment coalition consisting of Australia and Japan. The systemic spread of sanctions and trade restrictions is shifting the trade disputes resolution from the global level towards the US legal system, which seems to be relatively more efficient in resolving trade disputes.
About the Author
E. Ya. Arapova
MGIMO University
Russian Federation
Russian Federation
Dr. Ekaterina Ya. Arapova – Director, Leading Researcher, Center for Sanctions Policy Expertise, Institute for International Studies, MGIMO University
76 Prospect Vernadskogo, Moscow, 119454
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Review
For citations:
Arapova E.Ya. US – China Trade War: Economic and Legal Aftermaths. Comparative Politics Russia. 2022;13(1-2):98-115. (In Russ.) https://doi.org/10.46272/2221-3279-2022-1-2-13-98-115
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