Approaches: Evaluating Methods to Chinese Currency … · Counter Chinese Currency Undervaluation 9...
Transcript of Approaches: Evaluating Methods to Chinese Currency … · Counter Chinese Currency Undervaluation 9...
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Exchanging Approaches: Evaluating Methods to
Counter Chinese Currency Undervaluation
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Exchanging Approaches: Evaluating Methods to
Counter Chinese Currency Undervaluation
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I. Introduction
vis à vis
China Versus the West: The Global Power Shift of the 21st Century
IbidIbidIbidIbid
The Making of China’s Exchange Rate Policy: From Plan to WTO Entry
The Economist
The Economist
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The Economist
IbidThe Regulation of International Trade
Ibid
Uses and Misuses of Anti Dumping Provisions in World Trade: A Cross CountryPerspective
The Globalization Paradox: Democracy and the Future of the World Economy
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II. Is China’s currency undervalued?
supra
IPC White Paper
supra
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supraIbidIbidIbidIbidIbidIbid
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vis à vis
Ibid
supraIbid
The No Nonsense Guide to Global FinanceReuters
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Wall Street Journal
The Washington Times
The China Times
”Forbes
supraThe Reckoning: Debt, Democracy, and the Future of American Power
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III. What are the effects of Chinese currency undervaluation?
The WallStreet Journal
supra
supraIbid
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suprasupra
Ibidsupra
Ibid
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The Globalization of Crime: A Transnational Organized Crime ThreatAssessment
Ibid.Foreign Policy Index: China
IbidIbid
Balance of Payments: Categories and Definitions
Ibid
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Current account balance
Ibidsuprasupra
IbidIbid
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vis à vis
vis à vis
supraIbid
supraChina
Ibidsupra
IbidIbidIbidIbid
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combined with a tax on imports
IbidIbidIbidIbidIbidIbidIbid
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all
IV. What are the potential legal approaches the United States can take to combat
Chinese currency undervaluation?
Ibidsupra
Ibid
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A. Article XV of the GATT and IMF Articles
the intent of the GATT is not to impose
disciplines beyond those required by the IMF
General Agreement on Tariffs and TradeGATT 1947
WTO Analytical Index: GATT 1994
GATT 1947, suprasupra
IbidIbid
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IbidIbidArticles of Agreement of the International Monetary Fund
Ibid.Ibid.Ibid
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Ibid.Ibid.IbidIbid.IbidIbidIbidIbid
Modernizing the Legal Framework for Surveillance—An IntegratedSurveillance Decision
Integrated SurveillanceDecision
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Integrated Surveillance Decision supra
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Ibid .Ibid.Ibid.
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Ibid .The Economist
BBC News
TheWashington Times
supra
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Integrated Surveillance Decision supraIbid.Ibid.Ibid.Ibid.
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ex post
suprasupra
Ibid
supraIbid
supra
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actus
reus mens rea
Argentina— Textiles and Footwear India — Quantitative Restrictions
Integrated Surveillance Decision supraGATT 1947 supraArgentina—Measures Affecting Imports of Footwear, Textiles, Apparel and Other Items (Complaint by
the United States)
India—Quantitiative Restrictions on Imports of Agricultural, Textile and Industrial Products (Complaintby the United States)
.
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B. Countervailing Duties
Agreement on Subsidies
and Countervailing Measures
FredBergsten and the World Economy
supraGATT 1947 supra
supraUnderstanding Trade Law
Understanding Trade LawAgreement on Subsidies and Countervailing Measures
SCMAgreement
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supraUnderstanding Trade Law supra
IbidIbidIbidIbid
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SCM Agreement supraIbid.
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US— Anti Dumping and Countervailing Duties (China)
SCM Agreement supraUnited States—Definitive Anti Dumping and Countervailing Duties on Certain Products from China
US—Anti Dumping
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Ibidsupra
Understanding Trade Law supraSCM Agreement, supra (a) injury to the
domestic industry of another Member; (b) nullification or impairment of benefits accruing directly orindirectly to other Members under GATT 1994 in particular the benefits of concessions bound under ArticleII of GATT 1994; (c) serious prejudice to the interests of another Member.
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suprasupra
supra
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IbidUnderstanding Trade Law supra
Understanding Trade Law supraChina’s Growing Role in World Trade
Ibid
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for goods produced in China
US— Upland
Cotton
supraIbidIbidIbid
supra
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US— Anti Dumping and
Countervailing Duties (China)
Currency Reform for Fair Trade Act
United States—Subsidies on Upland Cotton (Complaint by Brazil)
US—Anti Dumping supraArnold & Porter LLP Advisory
Ibid.govtrack.us
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C. Antidumping Provisions
govtrack.us
suprasupra
GATT 1947 supraIbid.Ibid.Ibid.Ibid.Ibid
Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994Anti Dumping Agreement
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Egypt — Steel Rebar
Agreement on Implementation of Article VI of the General Agreement on Tariffs and
Trade 1994
supra
suprasupra
Anti Dumping Agreement supraEgypt—Definitive Anti Dumping Measures on Steel Rebar from Turkey (Complaint by Turkey)
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US— Hot Rolled Steel
The World Trade Organization: Law,Practice, and Policy
Uses and Misuses of Anti Dumping Provisions in World Trade: A CrossCountry Perspective
Understanding Trade Law suprasupra
supraAnti Dumping Agreement supraIbidUnited States—Anti Dumping Measures on Certain Hot Rolled Steel Products from Japan (Complaint by
Japan)
Ibid.
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D. Safeguards
IbidUnderstanding Trade Law supra
supraUnderstanding Trade Law, supra
Ibid
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GATT 1947 supraIbidIbidIbid
Understanding Trade Law supraIbid
supra
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Agreement on Safeguards,
Understanding Trade Law suprasupra
Agreement on Safeguards
Ibid.Ibid.Ibid. Ibid.
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Ibid.Ibid.IbidIbidIbid
Understanding Trade Law, supra
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Agreement on Safeguards
Agreement on Agriculture General Agreement on Trade in
Services Agreement on Apparel, Textiles, and Clothing
Agreement on Safeguards supraIbidIbid
Understanding Trade Law, supra supra
supraIbid
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Argentina—Footwear
Agreement
on Safeguards
IbidArgentina – Safeguard Measures on Imports on Footwear
Argentina – Safeguard Measures on Imports on FootwearArgentina – Footwear
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Argentina—Footwear
US—Lamb
Agreement on Safeguards
supraUnderstanding Trade Law, supra
IbidIbidIbid Argentina—Footwear supraUnited States – Safeguard Measures on Imports of Fresh, Chilled or Frozen Lamb Meat from New Zealand
and Australia
supra
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Agreement on Safeguards
Agreement on Safeguards
Understanding Trade Law, supraUnited States – Definitive Safeguard Measures on Imports of Wheat Gluten from the European
CommunitiesUS – Wheat Gluten, supra
IbidIbidIbid US – Wheat Gluten supra
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US—Wheat Gluten
US—Line Pipe242
IbidIbidUS Wheat Gluten supraUnited States – Definitive Safeguard Measures on Imports of Circular Welded Carbon quality Line Pipe
from Korea US—Line Pipe
supra
Understanding Trade Law supra supra
The WTO Agreement on Safeguards: A Commentary
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IbidSafeguard Measures in World Trade: The Legal Analysis
supra supra
supra
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suprasupra
Understanding Trade Law, supra
IbidTheoretical Rationales for the WTO Safeguard Regime
IbidIbidIbid
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Agreement on Safeguards
Ibid IbidIbid
supraIbid
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V. Howwould a new safeguards regime address concerns relating to currency
undervaluation?
supraRecognition and Regulation of Safeguard Measures Under GATT/WTO
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The World Trading System: Law and Policy of International Economic Relations
Understanding Trade Law, supraIbid
supraUnderstanding Trade Law supra
supra
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Ibid Ibid
Understanding Trade Law supraIbid
supraUnderstanding Trade Law, supra
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supra supra
IbidIbidIbid
The Economics of the World Trading System
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ex post ex
ante
Sykes, supraIbidIbid
supra
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Understanding Capitalism
Regulation and Public Interests: The Possibility of Good Regulatory Government
supraIbidIbidIbid
Ibid
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façade
raison d'être
IbidIbidIbid IbidIbid
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Developmental and Social Safeguards
IbidIbidIbidIbidIbidIbid IbidIbidIbid
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IbidIbidIbidIbidIbidIbidIbid Ibid
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Ibid
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IbidIbid
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de facto
Designing Government: From Instruments to Governance
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What Makes Poor Countries Poor? InstitutionalDeterminants of DevelopmentIbidIbid
supraUnderstanding Trade Law, supra
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suprasupra
Ibid
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Understanding Trade Law, supra supra
suprasupra
Ibidsupra
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Ibid IbidIbid
supraIbidIbid
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suprasupra
Ibid
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prior to
pay
beggar thy neighbour
supraTrade In Goods: The GATT and the Other WTO Agreements Regulating Trade in
GoodsIbid
suprasupra
IbidIbid
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Agreement on Safeguards, supra
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supra
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, suprasupra
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VI. Conclusion
supraIbidIbidIbid
supra
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Agreement on Safeguards
Ibidsuprasupra
supraIbidIbid
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Ibid
IbidIbidIbid
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IbidIbid
supra
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Understanding Trade Law supra , supra
suprasupra
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Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade
1994
Agreement on Safeguards
Agreement on Subsidies and Countervailing Measures
Articles of Agreement of the International Monetary Fund
General Agreement on Tariffs and Trade
Argentina—Measures Affecting Imports of Footwear, Textiles, Apparel and Other Items
(Complaint by the United States)
Argentina – Safeguard Measures on Imports on Footwear
Egypt—Definitive Anti Dumping Measures on Steel Rebar from Turkey (Complaint by
Turkey)
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India—Quantitiative Restrictions on Imports of Agricultural, Textile and Industrial
Products (Complaint by the United States)
.
United States—Anti Dumping Measures on Certain Hot Rolled Steel Products from Japan
(Complaint by Japan)
United States—Definitive Anti Dumping and Countervailing Duties on Certain Products
from China
United States – Definitive Safeguard Measures on Imports of Circular Welded Carbon
quality Line Pipe from Korea
United States – Definitive Safeguard Measures on Imports of Wheat Gluten from the
European Communities
United States – Safeguard Measures on Imports of Fresh, Chilled or Frozen Lamb Meat
from New Zealand and Australia
United States—Subsidies on Upland Cotton (Complaint by Brazil)
The Economics of the World Trading System
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Understanding Capitalism
Regulation and Public Interests: The Possibility of Good Regulatory
Government
China’s Growing Role in World Trade
The World Trading System: Law and Policy of International Economic
Relations
Safeguard Measures in World Trade: The Legal Analysis
The Making of China’s Exchange Rate Policy: From Plan to
WTO Entry
The World Trade
Organization: Law, Practice, and Policy
Trade In Goods: The GATT and the Other WTO Agreements
Regulating Trade in Goods
The Reckoning: Debt, Democracy, and the Future of American Power
Recognition and Regulation of Safeguard Measures Under GATT/WTO
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The Globalization Paradox: Democracy and the Future of the World
Economy
The No Nonsense Guide to Global Finance
The WTO Agreement on Safeguards: A Commentary
Understanding Trade Law
What Makes Poor Countries Poor?
Institutional Determinants of Development
The Regulation of International
Trade
China Versus the West: The Global Power Shift of the 21st Century
Fred Bergsten and the World Economy
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Uses and Misuses of Anti Dumping Provisions
in World Trade: A Cross Country Perspective
Uses and Misuses of Anti Dumping
Provisions in World Trade: A Cross Country Perspective
Designing Government: From
Instruments to Governance
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The Washington Times
The Washington Times
Arnold &
Porter LLP Advisory
The Globalization of Crime: A Transnational Organized Crime
Threat Assessment
The Economist
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Balance of Payments: Categories and Definitions
Reuters
govtrack.us
govtrack.us
Modernizing the Legal Framework for Surveillance—An
Integrated Surveillance Decision
WTO Analytical Index: GATT 1994
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IPC White Paper
The Economist
Foreign Policy Index: China
China
” Forbes
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Theoretical Rationales for the WTO Safeguard Regime
The Economist
The China Times
Current account balance
The Wall Street Journal
The Economist
BBC News
First Part--Brandon Trask--Thesis--18 Aug 2013--Revised-24 Second Part--Brandon Trask--Thesis--18 Aug 2013--Revised-2