Hostname: page-component-cd9895bd7-q99xh Total loading time: 0 Render date: 2024-12-26T06:16:06.314Z Has data issue: false hasContentIssue false
  • English
  • Français

How Do You Solve a Problem Like Maria? US – Countervailing Measures (China) (21.5)

Published online by Cambridge University Press:  29 June 2021

Douglas Nelson
Douglas Nelson*
Affiliation:
Murphy Institute & Department of Economics, Tulane University, New Orleans
*
*Corresponding author: Email: [email protected]
Get access Rights & Permissions [Opens in a new window]

Abstract

The rise of China as a genuine world power, economically and militarily, constitutes the gravest challenge faced by the liberal international order constructed in the aftermath of the Great Depression and the Second World War. A major source of strain in the trade relations between China and the other core members of the liberal world trading system is its extensive use of state-owned enterprises as an instrument of general (domestic) economic policy. This paper builds on Ruggie's theory of embedded liberalism and the theory of economic policy to characterize the political and economic difficulties and opportunities in moving toward a new regime for dealing with subsidies. The conclusion sketches some goals such a regime should seek to embody.

Keywords

Chinasubsidiesstate-owned enterprisesembedded liberalism
Type
Original Article
Information
World Trade Review , Volume 20 , Special Issue 4: WTO Case Law , October 2021 , pp. 556 - 565
Copyright
Copyright © The Author(s), 2021. Published by Cambridge University Press

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Bagwell, K. and Staiger, R.W. (2002) The Economics of the World Trading System. Cambridge. MA: MIT Press.CrossRefGoogle Scholar
Bhagwati, J.N., Panagariya, A., and Srinivasan, T.N. (1998) Lectures on International Trade. 2nd edn. Cambridge, MA: MIT Press.Google Scholar
Corden, W.M. (1997) Trade Policy and Economic Welfare. Oxford: Oxford University Pres.CrossRefGoogle Scholar
Eichengreen, B.J. (2007) The European Economy Since 1945: Coordinated Capitalism and Beyond, The Princeton Economic History of the Western World. Princeton, NJ: Princeton University Press.Google Scholar
Eisner, M.A. (1991) Antitrust and the Triumph of Economics: Institutions, Expertise, and Policy Change. Chapel Hill: University of North Carolina Press.Google Scholar
Gaddis, J.L. (2005) Strategies of Containment: A Critical Appraisal of American National Security Policy During the Cold War. Rev. and expanded edn. New York: Oxford University Press.Google Scholar
Haas, P.M. (1992) ‘Introduction: Epistemic Communities and International Policy Coordination’, International Organization 46(01), 1–35.CrossRefGoogle Scholar
Hall, P.A. and Soskice, D.W. (2001) Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. New York: Oxford University Press.CrossRefGoogle Scholar
Hoekman, B.M. and Mavroidis, P.C. (2015) ‘Embracing Diversity: Plurilateral Agreements and the Trading System’, World Trade Review 14(1), 101–116.CrossRefGoogle Scholar
Hoekman, B.M. and Nelson, D.R. (2020) ‘Rethinking International Subsidy Rules’, World Economy 43(12), 3104–3132.CrossRefGoogle Scholar
Hoekman, B.M. and Sabel, C. (2019) ‘Open Plurilateral Agreements, International Regulatory Cooperation and the WTO’, Global Policy 10(3), 297–312.CrossRefGoogle Scholar
Horn, H., Mavroidis, P.C., and Wijkström, E.N. (2013) ‘In the Shadow of the DSU: Addressing Specific Trade Concerns in the WTO SPS and TBT Committees’, Journal of World Trade 47(4), 729–759.Google Scholar
Karttunen, M.B. (2020) Transparency in the WTO SPS and TBT Agreements: The Real Jewel in the Crown. Cambridge, UK: Cambridge University Press.CrossRefGoogle Scholar
Krugman, P. (1991) ‘The move toward free trade zones’, Federal Reserve Bank of Kansas City Economic Review 76(6), 5–25.Google Scholar
Mavroidis, P.C. and Sapir, Á (2021) China and the WTO: Why Multilateralism Still Matters. Princeton: Princeton University Press.Google Scholar
McKenzie, F. (2020) GATT and Global Order in the Postwar Era. New York: Cambridge University Press.CrossRefGoogle Scholar
Ruggie, J.G. (1982) ‘International Regimes, Transactions, and Change: Embedded Liberalism in the Post-War Economic Order’, International Organization 36(2), 379–415.CrossRefGoogle Scholar
Schumpeter, J.A. (1942/1975). Capitalism, Socialism, and Democracy, 3rd edn, Harper Colophon Books. New York: Harper & Row.Google Scholar
Shepsle, K.A. (1992) ‘Congress is a “They,” not an “It”: Legislative Intent as Oxymoron’, International Review of Law and Economics 12(2), 239–256.CrossRefGoogle Scholar
Shonfield, A. (1965) Modern Capitalism: The Changing Balance of Public and Private Power. London: Oxford University Press.Google Scholar
Spearot, A. and Ahn, D. (2016) ‘US‒Carbon Steel (India): Multi-Product Firms and the Cumulation of Products’, World Trade Review 15(2), 351–373.CrossRefGoogle Scholar
Vogel, D. (2012) The Politics of Precaution: Regulating Health, Safety, and Environmental Risks in Europe and the United States. Princeton, N.J.: Princeton University Press.Google Scholar
Wilks, S. (2005) ‘Agency Escape: Decentralization or Dominance of the European Commission in the Modernization of Competition Policy?’, Governance-an International Journal of Policy and Administration 18(3), 431–452.CrossRefGoogle Scholar
Wu, M. (2016) ‘The China, Inc. Challenge to Global Trade Governance’, Harvard International Law Journal 57(2), 261–324.Google Scholar