Bridging the Pacific

Toward Free Trade and Investment Between China and the United States

C. Fred Bergsten, Gary Clyde Hufbauer, Sean Miner

• Publisher: Peterson Institute for International Economics
• Year: 2014
• ISBN:
  9780881326925
• Topic: Politics & International Relations
• Subtopic: Trade & Tariffs
• Index: Politics & International Relations

The terrain of the world trading system is shifting as countries in Asia, Europe, and North America negotiate new trade agreements. However, none of these talks include both China and the United States, the two biggest economies in the world. In this pathbreaking study, C. Fred Bergsten, Gary Clyde Hufbauer, and Sean Miner argue that China and the United States would benefit substantially from a bilateral free trade and investment accord or from participating together in a regional agreement like the TPP. In the process, they contend, each country would also achieve progress in addressing its internal economic challenges, such as the low saving rate in the United States. Achieving greater trade and investment integration could be accomplished with one comprehensive effort or through step-by-step negotiations over key issues. The authors call on the United States to seek liberalization of China's services sector as vital to securing an agreement, and they explain that such contentious matters as cyberespionage and currency manipulation be handled through parallel negotiations rather than in the agreement itself. This is an important study of the benefits and difficulties of a complex matter that could yield dividends to the two economies and help stabilize the security and well-being of the rest of the world.

Index

A123 Systems, 279

Abbott Laboratories, 333

Abe, Shinzo, 8, 394

adjustment effects, 85–108, 395–98. See also employment

administrative licensing, 269

ad valorem equivalents (AVEs)

agriculture, 152

high tariffs, 126

nontariff barriers, 117–18, 118t, 172

services, 172–73, 178, 179t, 201–206, 202t–203t, 204f, 205f

in WTO, 122

advertising industry, 187

AES, 281

AFL-CIO, 236

Agreement on Subsidies and Countervailing Measures (ASCM), 125, 306

agriculture, 151–66

bilateral trade in, 152, 153t, 163, 164t

farming subsidies, 165

food self-sufficiency, 151–52, 162, 165

in free trade agreements, 157–62, 402

nontariff barriers, 117n, 142

stand-alone agreement on, 401

tariffs and quotas, 152, 157–58, 161, 163

WTO rulebook, 154–56

air transport agreement (ATA), 189

Alcoa, 351

Alexander, Keith, 350, 358

All-China Federation of Trade Unions (ACFTU), 233

Allegheny Technology, 351

American Job Center, 103

American Reinvestment and Recovery Act (2009), 146

Anheuser-Busch, 334

antidumping duties, 120–22, 141, 328–29, 385 Anti-Monopoly Law (AML), 284, 301, 332–37, 342–43

antitrust measures, 326–28

Apple, 352

applied tariffs. See merchandise tariffs

arbitration panels, 383–84, 387

arms control, 257–58, 410

Asia-only track, 12–13, 24, 73

Asia-Pacific Economic Cooperation (APEC)

Bogor Goals, 6, 26, 32

CHUSTIA negotiations and, 26, 399, 422

Competition Policy and Law Group (CPLG), 337n

environmental measures, 251

FTAAP feasibility study, 5, 8, ...

Table of contents

• Cover
• Title
• Copyright
• Contents
• Preface
• I The Context
• II Potential Self-Balancing Stand-Alone Agreements
• III Potential Components of a Comprehensive Agreement
• IV The Iinvestment Cluster
• V Parallel Iissues
• VI Wrapping Up
• Index
• Back Cover