We review theoretical and empirical work on the economic effects of the United States and China trade relations during the last decades. We first discuss the origins of the China shock, its measurement, and present methods used to study its economic effects on different outcomes. We then focus...

The Association of Southeast Asian Nations (ASEAN) is strategically significant because of its size, dynamism, and role in the Asian economic and security architectures. This paper examines how ASEAN seeks to strengthen these assets through “centrality” in intraregional and external policy...

Neither of the major negotiations underway in the Asia-Pacific region, the Regional Comprehensive Economic Partnership and the Trans-Pacific Partnership, includes both China and the United States. By failing to connect these economies, these agreements would leave much of the economic and...

The Generalized System of Preferences (GSP) - a system of differential and favorable trade arrangements toward less developed countries - has been around since the early 1970s. A primary objective of GSP schemes, sponsored by developed industrialized countries, especially by the United States...

Since foreign social media sites have been banned, three Chinese social media sites, all listed at the New York Stock Exchange or NASDAQ, are thriving. Chinese social media are insulated from foreign competition at their domestic market. However doing business in China does not become easier for...

The US-China trade war forced a reluctant semiconductor industry into someone else’s fight, a very different position from its leading role in the 1980s trade conflict with Japan. This paper describes how the political economy of the global semiconductor industry has evolved since the 1980s....

Constitutional scholars, lawyers, and policy analysts have long raised concerns about executive branch overreach on trade policy. The issue exploded into prominence in 2018 when President Trump authorized tariffs on imported steel and aluminum, which his Department of Commerce had identified as...

Welfare gains from increasing product variety are an important source of the gains from international trade. Recent empirical studies have largely focused on measuring the gains from an increased variety of imports. Trade theory, however, suggests that international trade heavily affects the...

Findings from the literature suggest that previous estimates of the variety gains from trade are too small because of the imprecise measurement of the imported variety set under the Armington assumption. In this contribution, I use results from the literature on multi-product firms to obtain...

Welfare gains from increasing product variety are an important source of the gains from international trade. Recent empirical studies have largely focused on measuring the gains from an increased variety of imports. Trade theory, however, suggests that international trade heavily affects the...