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Who Has the Most to Lose If China’s Trade Ambition Succeeds?
Article

Who Has the Most to Lose If China’s Trade Ambition Succeeds?

Tom Orlik
Bloomberg Businessweek , 2018
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Editorial Rating

8

Qualities

  • Analytical
  • Overview
  • Hot Topic

Recommendation

China’s rapid growth and its aspirations to compete with other major nations have disrupted economies around the world. Its industrial plan, Made in China 2025, focuses on the technologies of the Fourth Industrial Revolution, but the initiative challenges the advanced countries that dominate these sectors. In this accessible and insightful report for executives and policy experts, economist Tom Orlik analyzes China’s objectives as well as the potential impacts of the Trump administration’s tariffs.

Summary

Trade tensions between China and the United States are rooted in the watershed event of China’s entry into the World Trade Organization (WTO) in 2001. American leaders then believed that an open-market policy would “bind China into the US-dominated global system.” China’s exports subsequently boomed, yet issues surfaced. Chinese manufacturing success depended on foreign components, potentially relegating the economy to the bottom of the global supply chain. At the same time, cheaper imports eliminated jobs in the United States and Europe, fomenting protest and populism...

About the Author

Tom Orlik is the chief economist at Bloomberg Economics.

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