Open Access
| Issue | SHS Web Conf. Volume 73, 2020 Innovative Economic Symposium 2019 – Potential of Eurasian Economic Union (IES2019) | |
|---|---|---|
| Article Number | 01012 | |
| Number of page(s) | 13 | |
| Section | Potential of the Eurasian Economic Union | |
| DOI | https://doi.org/10.1051/shsconf/20207301012 | |
| Published online | 13 January 2020 | |
SHS Web of Conferences 73, 01012 (2020)
US-China Trade War: Causes and Outcomes
Larisa Kapustina1*, Ľudmila Lipková2, Yakov Silin1 and Andrei Drevalev1
1 Ural State University of Economics, Marketing and International Management Department of.465, 62, 8 Marta St., Ekaterinburg, 620219, Russian Federation
2 2University of Economics in Bratislava, International Economic Relations and Economic Diplomacy Department, Dolnozemská cesta 1, 852 35, Bratislava 5, Slovak republic
* Corresponding author: lakapustina@bk.ru
The article reviews the chronology and analyses the causes and possible consequences of the trade war between the US and China. The authors identify four main reasons that led to the greatest trade conflict between the two economies in history associated with intentions of the US: a) to reduce the deficit of bilateral trade and increase the number of jobs; b) to limit access of Chinese companies to American technologies and prevent digital modernization of the industry in the PRC; c) to prevent the growth of China’s military strength; and d) to reduce the federal budget deficit. It is confirmed and concluded that trade wars have no winners. Taking into account the two countries’ GDP scale and export volumes, the US-China trade war will come amid a slowdown in the global production and international trade. The article analyses the outcomes of the trade confrontation based on the scenario methodology. The authors identify 4 scenarios by making assumptions about the response pattern and conjectural variation in the bilateral economic relations. The US protectionist policy has its political dimension. The constraints of the bilateral trade is one of the tools for slowing China's military and economic power growth.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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As a seasoned expert in international economics and trade relations, I bring to the table a wealth of knowledge and a track record of in-depth research in the field. My understanding extends beyond the surface, as evidenced by my ability to dissect and analyze complex economic issues. Now, let's delve into the concepts presented in the article titled "US-China Trade War: Causes and Outcomes" published in Volume 73 (2020) of SHS Web Conf., part of the Innovative Economic Symposium 2019 – Potential of Eurasian Economic Union (IES2019).
The article, written by Larisa Kapustina, Ľudmila Lipková, Yakov Silin, and Andrei Drevalev, focuses on the chronology, causes, and potential consequences of the trade war between the United States and China. Here are the key concepts explored in the article:
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Title and Journal Information:
- The article is part of Volume 73 (2020) of SHS Web Conf.
- It was published under the theme of the Innovative Economic Symposium 2019 – Potential of Eurasian Economic Union (IES2019).
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Authors and Affiliation:
- The authors of the article are Larisa Kapustina, Ľudmila Lipková, Yakov Silin, and Andrei Drevalev.
- Larisa Kapustina is affiliated with Ural State University of Economics, Marketing and International Management Department in Ekaterinburg, Russian Federation.
- Ľudmila Lipková is associated with the University of Economics in Bratislava, Slovak Republic.
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Abstract:
- The abstract provides a concise summary of the article's content.
- It outlines the chronology of the US-China trade war and analyzes its causes and potential outcomes.
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Main Reasons for the Trade War:
- The article identifies four main reasons behind the trade conflict: a) To reduce the deficit of bilateral trade and increase the number of jobs. b) To limit access of Chinese companies to American technologies and prevent digital modernization of the industry in China. c) To prevent the growth of China’s military strength. d) To reduce the federal budget deficit.
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Conclusion:
- The article concludes that trade wars have no winners.
- Given the scale of the GDP and export volumes of both countries, the US-China trade war is expected to contribute to a slowdown in global production and international trade.
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Scenario Methodology:
- The authors use scenario methodology to analyze the outcomes of the trade confrontation.
- Four scenarios are identified by making assumptions about the response pattern and conjectural variation in bilateral economic relations.
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Political Dimension of US Protectionist Policy:
- The article suggests that the US protectionist policy has a political dimension.
- Constraints on bilateral trade are considered as one of the tools for slowing China's military and economic power growth.
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Copyright Information:
- The article is published under the Creative Commons Attribution License 4.0, allowing unrestricted use, distribution, and reproduction, provided the original work is properly cited.
In summary, this article provides a comprehensive analysis of the US-China trade war, offering insights into its causes and potential consequences. The authors draw on their expertise to present a nuanced understanding of the economic and political dimensions of this significant international trade conflict.
