_.gif)
_.gif)
Political Economy and Regional Policy: The Impact of US-China Trade Tension on the Global Economic Growth
Abstract
This paper uses a systematic literature review to discuss US-China trade tension. The study discusses the US-China trade tension and its impact on the global economy because the US-China trade war is imminent at the point in time since President Trump came to power in 2016. This research aims to examine how US-China trade tension is unfolding and the significant change of this trade tension on the world economy. The systematic literature review was engaged to capture the sequence of the event as they are happening between the US and China with regards to trade barriers. This research reviewed 19 peer-review journals and some news items and WTO resources relevant to this study. This study revealed that the US-China trade tension has affected consumer goods to some extent but it may not affect the global economy currently. However, it is evident that in the long-run; the US-China trade war will have an impact on the lives of people and the global economy if the issue continues to intensify. In conclusion, the economy of the US has declined drastically by 0.8% while China also experience 0.4% fall in the economy in 2019. The impact is currently not severe on the global economy but if the tension continues it might have a negative impact on the global economy. The trade deficit is getting wider between China and the US.
Keywords
Full Text:
PDFReferences
Cohn, T. H. (2016). Global Political Economy (17th Editi). Retrieved from www.routledge.com/9781138958746
CRS. (2019). China ’ s Economic Rise : History , Trends , Challenges , and Implications for the United States.
Goulard, S. (2020). The Impact of the US–China Trade War on the European Union. Global Journal of Emerging Market Economies, 12(1), 56–68.
https://doi.org/10.1177/0974910119896642
Hassan Hakimian, J. B. N. (2014). Trade Policy and Economic Integration in the Middle East and North Africa. In Trade Policy and Economic Integration in the Middle East and North Africa. https://doi.org/10.4324/9780203633908
Kennedy, D. L. M., & Southwick, J. D. (2002). The Political Economy of International Trade Law. In Cambridge University Press. Cambridge University Press.
Moosa, I. (2012). The US–China Trade Dispute. In The US–China Trade Dispute. https://doi.org/10.4337/9781781001554
Nicita, A. (2019). Trade and trade diversion effects of United States tariffs on China. UNCTAD Research Paper, (37), 1–17. Retrieved from
https://unctad.org/en/PublicationsLibrary/ser-rp-2019d9_en.pdf
Plummer, M. G. (2019). The US-China Trade War and Its Implications for Europe. Intereconomics, 54(3), 195–196. https://doi.org/10.1007/s10272-019-0822-3
Richard E. Just, Darrell L. Hueth, A. S. (2004). The Welfare Economics of Public Policy: A Practical Approach to Project and Policy Evaluation. Edward Elgar Publishing Limited.
Sarmento, M., & Simões, C. (2018). The evolving role of trade fairs in business: A systematic literature review and a research agenda. Industrial Marketing Management, 73(June 2015), 154–170. https://doi.org/10.1016/j.indmarman.2018.02.006
Söderbaum, F. (2004). The political economy of regionalism. In European Economic Review (Vol. 48). https://doi.org/10.1016/S0014-2921(02)00329-X
Sondang Ni Bulan Marbun, & Donna Maryati Panggabean. (2020). Effect of Work Compensation and Discipline on Employee Performance in PT. Berjaya Group Medan. Britain International of Humanities and Social Sciences (BIoHS) Journal, 2(2), 470–479. https://doi.org/10.33258/biohs.v2i2.245
Suprayitno, S., Ratna, R., & Handoko, H. (2019). Salt Trading in Deli: Relationship between Karo and Coastal Area in 19th Century. Budapest International Research and Critics Institute (BIRCI-Journal) : Humanities and Social Sciences, 2(4), 298–305. https://doi.org/10.33258/birci.v2i4.618
Tu, X., Du, Y., Lu, Y., & Lou, C. (2020). US-China Trade War: Is Winter Coming for Global Trade? In Journal of Chinese Political Science. https://doi.org/10.1007/s11366-020-09659-7
Vlados, C. (2020). The Dynamics of the Current Global Restructuring and Contemporary Framework of the US–China Trade War. Global Journal of Emerging Market Economies, 12(1), 4–23. https://doi.org/10.1177/0974910119896636
Watson, R. T. (2015). Beyond being systematic in literature reviews in IS. Journal of Information Technology, 30(2), 185–187. https://doi.org/10.1057/jit.2015.12
Wollie, G. (2018). The Relationship between Inflation and Economic Growth in Ethiopia. Budapest International Research and Critics Institute (BIRCI-Journal) : Humanities and Social Sciences, 1(3), 264–271. https://doi.org/10.33258/birci.v1i3.73
Xia, Y., Kong, Y., Ji, Q., & Zhang, D. (2019). China Economic Review Impacts of China-US trade conflicts on the energy sector. China Economic Review, 58(October), 101360. https://doi.org/10.1016/j.chieco.2019.101360
Zhang, D., Lei, L., Ji, Q., & Kutan, A. M. (2019). Economic policy uncertainty in the US and China and their impact on the global markets. Economic Modelling, 79(October 2018), 47–56. https://doi.org/10.1016/j.econmod.2018.09.028.
DOI: https://doi.org/10.33258/birci.v3i3.1155
Article Metrics
Abstract view : 1181 timesPDF - 355 times
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.