Overview

Over the last 40 years, the U.S.-China relationship has experienced many twists and turns. When China first embarked on a series of economic reforms, the U.S. and many of its western allies hoped that these more open-door policies would herald not only a new level of prosperity for the Chinese people but also usher in more western philosophies and standards of government. However, while the economy has undoubtedly prospered, China’s ties with the U.S. have continued to remain strained. The current Trump Administration has gone to increasingly greater lengths to address what it perceives are significant imbalances in the relationship. A new trade has been sought, however, the use tit-for-tat policies which has seen the introduction of new tariff measures by both sides has undoubtedly hindered this negotiation process. Our research examines the complex nature of the U.S.-China Trading relationship. It provides a detailed appraisal of the current state of U.S.-China trade as well as a detailed overview of the trade battle that has unfolded in recent times. As part of this, the study also explains the key aspects behind the conflict, including: apparent unfair trade practices, such as currency manipulation; the economic rise of China; and the ideological differences that exist between the two countries. The study also addresses Chinese concerns that the U.S. fears what a growing China may mean for its global interests by pointing to the “60% rule”. An assessment of the empirical literature shows that the economic impact of the U.S.-China trade war has been felt by both sides. However, China has been found to suffer more, with research showing GDP falling from -0.1% to -1.35% in the U.S. and between -0.3% and -1.5% in China.

Date

02^th Dec 2020

Time

11:00am - 01:00pm GMT+8 (Singapore)

Speaker Profile

Associate Professor Jacob Wood Associate Dean of Research (Business/IT/Science) Dr. Jacob Wood is currently the Associate Dean of Research for the College of Business, Law and Governance in JCU Australia. In addition to this, he is also the Director of the Centre for International Trade and Business in Asia (CITBA) and an Associate Professor of International Business at JCU Singapore. With a PhD in International Studies majoring in International Trade, Dr. Wood has more than 10 years experience working in South Korea where he has held roles as an Assistant Professor at Korea University of Technology and Education and then more recently as an Assistant Professor of Asia Business at Chungnam National University. Dr. Wood specializes in the fields of international trade negotiation and the effect of non-tariff barriers on international trade flows. In addition to this, he published a series of international business studies on financial performance and social business adoption. He also has an interest in employee engagement and the important role it plays within a HRM context. His research has been published in a range of prominent international journal publications including Risk Management, World Trade, Singapore Economic Review, Sustainability, Scientometrics. Technology Analysis and Strategic Management, Global Business Review, Business Information Review, Economies, and the Journal of Asian-Pacific Economic Literature, amongst others.

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