China's economic policy impact on the United States / Mary Jo Devaland, editor.

Format:

Book

Contributor:

Devaland, Mary Jo.

Language:

English

Subjects (All):

China--Foreign economic relations--United States.

China.

China--Economic policy--2000-.

China--Economic conditions--2000-.

United States--Foreign economic relations--China.

United States.

Physical Description:

1 online resource (261 p.)

Edition:

1st ed.

Place of Publication:

New York : Nova Science Publishers, 2009.

Language Note:

English

Summary:

Since the initiation of economic reforms in 1979, China has become one of the world's fastest-growing economies. This book provides an overview of China's economic development, the challenges China faces to maintain growth, and the implications of China's rise as a major economic power for the United States.

Contents:

Intro

CHINA'S ECONOMIC POLICY IMPACT ON THE UNITED STATES

CONTENTS

PREFACE

Chapter 1 CHINA'S GROWING DEMAND FOR OIL AND ITS IMPACT ON U.S. PETROLEUM MARKETS*

REASONS FOR CHINA'S GROWING DEMAND FOR PETROLEUM

TWO SCENARIOS OF FUTURE DEMAND GROWTH IN CHINA

CONSEQUENCES OF SLOWER AND FASTER GROWTH IN DEMAND

CHINA'S TOTAL PETROLEUM USE

A SHIFT IN DEMAND TOWARD LIGHT PETROLEUM PRODUCTS

KEY DETERMINANTS OF MOTOR FUEL USE

THE CHANGING STRUCTURE OF THE CHINESE OIL INDUSTRY

GOVERNMENT PROGRAMS THAT AFFECT THE DEMAND FOR PETROLEUM

Environmental Regulation

Fuel Economy Standards

Price Controls

Energy Taxes

SCENARIOS OF FUTURE DEMAND GROWTH IN CHINA

MAJOR OIL MARKET FORECASTS

THE CASE FOR SLOWER GROWTH IN DEMAND

Demand Response to High Oil Prices

Reversal of Some Temporary Demand

Government Efforts to Restrict Consumer Credit and New Car Sales

New Fuel Economy Standards and Easing of Limits on Small Car Use

Possible Future Increases in Fuel Taxes

THE CASE FOR FASTER GROWTH IN DEMAND

Income Growth

Migration to the Cities

The Growing Vehicle Stock

CONSEQUENCES FOR MOTOR FUEL MARKETS IN THE UNITED STATES

GENERAL CONSEQUENCES FOR PRICES AND PRICE VOLATILITY

Crude Oil Prices and Costs of Refining

Price Volatility

THE IMPACT OF RISING TOTAL OIL DEMAND ON WORLDWIDE CRUDE OIL PRICES

THE IMPACT OF INCREASING DEMAND FOR LIGHT PRODUCTS ON THE COSTS OF REFINING PETROLEUM

OTHER INFLUENCES ON COSTS TO REFINE OIL

IMPLICATIONS FOR POLICIES AFFECTING INVESTMENT IN U.S. REFINERIES

APPENDIX A DETAILED TABLES

Chapter 2 U.S.-CHINA TRADE: USTR'S CHINA COMPLIANCE REPORTS AND PLANS COULD BE IMPROVED*

GAO HIGHLIGHTS

Why GAO Did This Study

What GAO Recommends

WHAT GAO FOUND

ABBREVIATIONS.

RESULTS IN BRIEF

BACKGROUND

USTR IS REQUIRED TO REPORT ANNUALLY TO CONGRESS ON CHINA'S COMPLIANCE WITH ITS TRADE COMMITMENTS

USTR CONDUCTED AN INTERAGENCY TOP-TO-BOTTOM REVIEW OF U.S.-CHINA TRADE RELATIONS

USTR'S ANNUAL REPORTS TO CONGRESS DO NOT SYSTEMATICALLY ANALYZE CHINA'S PROGRESS IN RESOLVING COMPLIANCE ISSUES

USTR'S ANNUAL REPORTS LACK SYSTEMATIC ANALYSIS AND COMPARATIVE INFORMATION

USTR REPORTS THAT CHINA MADE PROGRESS ON IMPLEMENTING ITS TRADE COMMITMENTS

USTR'S REPORTS CONTAIN A SIGNIFICANT NUMBER AND WIDE ARRAY OF REMAINING COMPLIANCE ISSUES

WHILE CHINA RESOLVED SOME ISSUES, MOST ISSUES HAVE PERSISTED WITHOUT RESOLUTION

CHINA'S PROGRESS ON COMPLIANCE ISSUES SLOWED SINCE 2004

PROGRESS VARIES BY TRADE AREA IN USTR'S ANNUAL COMPLIANCE REPORTS

ANNUAL REPORTS DESCRIBE THE TYPES OF U.S. ACTIONS TO RESOLVE COMPLIANCE ISSUES

CHINA MADE FURTHER PROGRESS ON VARIOUS COMPLIANCE ISSUES IN DECEMBER 2007

USTR'S PROGRESS TOWARD ACHIEVING TOP-TO-BOTTOM REPORT OBJECTIVES CANNOT BE FULLY DETERMINED

TRADE AGENCIES HAVE MADE CONSIDERABLE PROGRESS IN IMPLEMENTING TOP-TO BOTTOM ACTION ITEMS

U.S. GOVERNMENT INCREASED BILATERAL ENGAGEMENT WITH CHINA ON VARIOUS TRADE ISSUES

U.S. GOVERNMENT EXPANDED CAPACITY TO ENFORCE CHINA'S TRADE COMPLIANCE AND IMPROVED TRAINING, BUT STAFFING ISSUES PERSIST

Staff Levels Increased

Staffing Gaps and Turnover Remain

Training Opportunities Expanded

Language Skill Gaps Remain

PROGRESS TOWARD BROAD U.S.-CHINA TRADE OBJECTIVES IS DIFFICULT TO DETERMINE

USTR USES THE TOP-TO-BOTTOM REPORT AS A PLANNING TOOL BUT DOES NOT FORMALLY ASSESS ITS PROGRESS IN IMPLEMENTING IT

Results Not Measured

Other Key Agencies Have Some Related Plans

LACK OF LINKAGES AND SPECIFICITY MAKE IT DIFFICULT TO ASSESS PROGRESS

Plans Have Not Been Updated

CONCLUSIONS.

Recommendations for Executive Action

APPENDIX I: OBJECTIVES, SCOPE, AND METHODOLOGY

APPENDIX II: STATUS OF TOP-TO-BOTTOM REVIEW

APPENDIX III: COMMENTS FROM THE UNITED STATES TRADE REPRESENTATIVE

GAO COMMENTS

GAO'S MISSION

Chapter 3 CHINA'S TRADE WITH THE UNITED STATES AND THE WORLD*

SUMMARY

THE RATIONALE FOR U.S. POLICY AND INITIATIVES

TRADE POLICY DEVELOPMENTS

Congressional Actions

SUMMARY OF TRADE DATA

CHINA'S TRADE BALANCE AND IMPORTS

CHINA AND THE ASIA PACIFIC REGION

CHINA'S TRADE WITH THE UNITED STATES, EUROPE, AND JAPAN

U.S. MERCHANDISE TRADE BALANCES WITH MAJOR TRADING PARTNERS

U.S. TRADE WITH CHINA BY SECTOR

U.S. Exports to China

U.S. IMPORTS FROM CHINA

BALANCE OF TRADE BY SECTOR

U.S. IMPORTS FROM CHINA - SECTOR CHARTS AND DATA

Iron and Steel

Specialized Industrial Machinery

Office Machines and Computers

Telecommunications and Sound Equipment

Electrical Machinery and Parts

Road Motor Vehicles

Building and Lighting Products

Furniture

Travel Goods and Handbags

Apparel and Clothing

Footwear

Professional, Scientific, and Controlling Instruments

Photographic and Optical Equipment and Timepieces

FOREIGN DIRECT INVESTMENT IN CHINA

APPENDIX

Chapter 4 CHINA - U.S. TRADE ISSUES*

U.S. TRADE WITH CHINA1

MAJOR U.S. EXPORTS TO CHINA

MAJOR U.S. IMPORTS FROM CHINA

MAJOR U.S. - CHINA TRADE ISSUES

Health and Safety Concerns over Certain Imports from China12

China's Poor Regulatory System and Implications

CHINA'S CURRENCY POLICY21

The Bush Administration's Response

China Changes its Currency Policy

CHINA AND THE WORLD TRADE ORGANIZATION

WTO IMPLEMENTATION ISSUES

U.S. WTO Cases against China

VIOLATIONS OF U.S. INTELLECTUAL PROPERTY RIGHTS

History of U.S. Efforts to Improve China's IPR Regime.

The Scope of the IPR Piracy Problem in China

The U.S. Files Two WTO Cases Against China on IPR

APPLYING U.S. COUNTERVAILING LAWS TO CHINA48

TEXTILE AND APPAREL PRODUCTS54

THE U.S.-CHINA STRATEGIC ECONOMIC DIALOGUE (SED)

U.S.-CHINA TRADE LEGISLATION IN THE 110TH CONGRESS

Currency Legislation

Other Legislation

Chapter 5 CHINA'S ECONOMIC CONDITIONS*

CHINA'S ECONOMIC CONDITIONS

MOST RECENT DEVELOPMENTS

AN OVERVIEW OF CHINA'S ECONOMIC DEVELOPMENT

China's Economy Prior to Reforms

THE INTRODUCTION OF ECONOMIC REFORMS

CHINA'S ECONOMIC GROWTH SINCE REFORMS: 1979-PRESENT

CAUSES OF CHINA'S ECONOMIC GROWTH

CHINA'S INDUSTRIAL SECTOR

MEASURING THE SIZE OF CHINA'S ECONOMY

CHINA'S TRADE PATTERNS

CHINA'S MAJOR TRADING PARTNERS

MAJOR CHINESE TRADE COMMODITIES

CHINA'S GROWING ECONOMIC TIES WITH AFRICA, NORTH KOREA, AND IRAN

CHINA-AFRICA TRADE

China's Imports From Africa

China's Mineral Fuel Imports from Africa

China's Exports to Africa

CHINA'S TRADE WITH NORTH KOREA

CHINA'S TRADE WITH IRAN

CHINA'S GROWING OVERSEAS DIRECT INVESTMENT

MAJOR LONG-TERM CHALLENGES FACING THE CHINESE ECONOMY

OUTLOOK FOR CHINA'S ECONOMY AND IMPLICATIONS FOR THE UNITED STATES [38]

REFERENCES

Chapter 6 CHINA'S CURRENCY: A SUMMARY OF THE ECONOMIC ISSUES*

U.S. CONCERNS OVER CHINA'S CURRENCY POLICY

CHINA'S CONCERNS OVER MODIFYING ITS CURRENCY POLICY

IMPLICATIONS OF CHINA'S CURRENCY POLICY FOR ITS ECONOMY

IMPLICATIONS OF CHINA'S CURRENCY POLICY FOR THE U.S. ECONOMY

CONGRESSIONAL LEGISLATION

INDEX

Blank Page.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

1-61728-186-7

OCLC:

923662389