China-South Korea tensions rose with the announcement of the U.S.-South Korea alliance decision to deploy the THAAD missile defense system in South Korea and South Korean protests against illegal Chinese fishing. Exclusive economic zones (EEZs) remain another point of China-South Korea tension. Although China and South Korea seek to advance trade within various frameworks, such efforts only highlight a widening gap between the economic and political aspects of their relationship. Current security priorities require effective approaches to both immediate differences over THAAD and EEZs and longer-term preferences over how to effectively promote lasting stability on the Korean Peninsula, write Snyder and See Won Byun, PhD candidate in political science at the George Washington University.
U.S. President Barack Obama has promised to continue his push for Congress to approve the Trans-Pacific Partnership (TPP), despite firm opposition to the free trade agreement from both of the major candidates for president, including his former secretary of state, Hillary Clinton. “Right now, I’m the president and I think I’ve got the better argument,” he told reporters following a meeting Tuesday with Singapore’s prime minister, Lee Hsien Loong.
The government of India filed suit on March 3 in the World Trade Organization (WTO) seeking to overturn a new U.S. tax on high-skilled migrants that India says discriminates against its citizens and would damage some of its most successful companies. The case marks the first time that a country's immigration laws have been challenged using the rules of a trade agreement, writes CFR’s Edward Alden.
The Trans-Pacific Partnership trade deal concluded on Monday puts the US in a place it has not been in more than two decades — out in front in the competition to write the rules for the next generation of global trade.
Yes, the United States is pivoting to Asia, one of the reasons for the tête-à-tête last week between Barack Obama and Xi Jinping. But behind the scenes, President Obama has actually been reorienting U.S. diplomacy toward Europe.
Authors: Sarah E. Kreps and Gustavo A. Flores-Macias Journal of Politics
No strings attached? Even if not part of a purposeful plan on the part of China, its growing trade ties with countries in Africa and Latin America has important foreign policy consequences, according to Sarah Kreps and Gustavo A. Flores-Macias. The article shows that in the last two decades, the more these countries have traded with China, the more likely they were to align with it in international forums such as the UN.
Author: Michael A. Levi Brookings Institution Press
Michael A. Levi argues that the likely benefits of allowing U.S. natural gas exports outweigh the costs of explicitly constraining them, provided that appropriate environmental protections are in place.
Authors: Nicholas Consonery, Evan A. Feigenbaum, Damien Ma, Michal Meidan, and Henry Hoyle Eurasia Group
Nicholas Consonery, Evan A. Feigenbaum, Damien Ma, Michael Meidan, and Henry Hoyle argue that China's capital-intensive, export-oriented growth model is delivering diminishing returns and threatens to become a major political vulnerability for the government, and China's leaders must overcome political restraints to implement a comprehensive and ambitious rebalancing agenda.
Author: Jagdish N. Bhagwati Council on Foreign Relations
Newspaper and magazine stories refer to a "loss of nerve", even a "loss of faith" in free trade by economists. When presidential candidates are challenged by free trade proponents, they typically say: "Ah, but economists no longer have a consensus on free trade." But the truth of the matter is that free trade is alive. The analytical arguments in favor of trade have hardly been dented by its critics, such as Alan Blinder, arrayed against it.
The WTO talks between the G-4 nations—Brazil, India, the United States and the European Union—have collapsed yet again, and the U.S.'s inability to respond to long-standing, world-wide demands for the reduction of its (and the EU's) agricultural subsidies are mostly to blame, argue Jagdish Bhagwati and Arvind Panagariya.
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