This month's featured article
A Balanced Approach to Addressing the US-China Trade Dispute
Shang-Jin WEIN.T. Wang Chair and Professor of Finance and Economics at Columbia University, and Former Chief Economist of Asian Development Bank
It has been said that many of President Trump's complaints about China's trade practices are legitimate. The Europeans and the Japanese share many of the same complaints including still high barriers to trade, weak protection of intellectual property rights, and subsidies to firms, especially state-owned firms, that lead to unfair competition in the international market. It is true that China can do more to make its economic system simultaneously more efficient and fairer. At the same time, it is important to recognize that the United States (U.S.) and many other high-income countries can also undertake further policy changes to make the global trading system more efficient and fairer.
Before we go into the details, let me make it clear that this is not a piece about what is likely to happen in the short term, but what it should happen in the medium term.
To read the full text
https://www.rieti.go.jp/en/special/p_a_w/115.html
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