• KDI Journal of Economic Policy
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• 제46권3호
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• pp.49-66
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• 2024

This study empirically investigates how the exports of downstream products to the US change the imports of their upstream products from China during the US-China tariff war. To accomplish this, we use province-level trade data in Vietnam, known to be a country that increased its exports to the US market in place of China, i.e., known to enjoy a trade diversion in the US market. The use of regional trade data enables us to capture the input-output linkages more precisely. Specifically, focusing on the trade in general and electrical machinery industries from January of 2019 to December of 2023, we regress imports of upstream products from China on exports of their downstream products to the US, finding that the rise of exports of downstream products to the US significantly increases imports of their upstream products from China. On the other hand, the rise in these products does not significantly increase the imports of upstream products from Japan, Korea, and Taiwan. Furthermore, the input-output linkage between exports to the US and imports from China was found to be greater in provinces with better business environments in terms of entry costs, transparency in public services, and public support to businesses.

• 융합경영연구
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• 제12권2호
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• pp.73-81
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• 2024

Purpose: South Korea is a close ally of the US and an important partner of China. Caught between the two most powerful countries, South Korea's strategic directions are critical. This article emphasizes that the deeper core of the US-China trade war is to improve the business environment to attract foreign direct investment (FDI) to boost the economy, rather than engaging in the trade war. Research design, data, and methodology: Considering the complexity of this issue, this article applies a systematic analytical tool, the ABCD (Agility, Benchmarking, Convergence, and Dedication) model, to provide strategic guidance for inducing investments into South Korea in the context of the ongoing US-China trade war. Results: Specifically, South Korea needs to provide a more attractive business environment along the four points: expedite commercial activities through deregulation (Agility); adopt global standards of the flexible labor markets and technological developments (Benchmarking); integrate various industries and connect them to global value chains (Convergence); and create more economy-friendly policies rather than politics-oriented ones such as protectionism (Dedication). Conclusion: This study stands out not just by utilizing the ABCD model but, also by providing more systematic analysis and practical implications, particularly within the context of the escalating US-China competition. Unlike many existing studies that analyze the broader impacts of this geopolitical rivalry, this research delves into specific strategic guidelines for South Korea to attract FDI. The findings also provide implications for multinational corporations (MNCs) in choosing the locations for their overseas operations, particularly in South Korea.

• 국제지역연구
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• 제14권2호
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• pp.297-323
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• 2010

냉전기간 중국과 아프리카의 경제관계의 특징은 중국의 '순수한 이념적, 정치적 목적(purely ideological and political purpose)'으로 인하여 아프리카와의 상당한 무역규모에도 불구하고 경제관념이 전혀 대두되지 않았다. 냉전이라는 거대한 시대적 흐름으로 인해 '원조' 또는 '지원' 이라는 개념으로 대체되어 왔던 것이다. 그러나 탈냉전 이후 중국과 아프리카의 관계는 정치적, 이념적 목적이 퇴색하였거나 완전히 배제되는 특징을 보이고 있다. 1990년대 들어 철저한 경제관념, 즉 실용주의(pragmatism)에 입각한 중국에게 있어 아프리카는 안정된 에너지 공급원으로서의 역할뿐만 아니라 물품 수출 및 직접 투자가 가능한 '신흥시장'으로 부각되기에 이르렀기 때문이다. 본 연구는 중국과 아프리카의 냉전과 이후의 경제관계 비교를 통해 드러나는 명확한 차이점을 분석함으로써 중국의 변화된 대(對) 아프리카 경제정책을 이해하고자 한다. 이를 통해 현재 아프리카라는 신흥시장에서 투자와 수출입을 포함하는 통상 관계 전반에 걸쳐 영향력 확대를 위해 심혈을 기울이고 있는 한국에 시사점을 제공하는데 그 목적이 있다.

• 무역학회지
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• 제45권1호
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• pp.173-201
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• 2020

As the US's trade deficit with China and China's manufacturing industry has risen rapidly, the US has begun to regulate trade items as part of China's checks. Four rounds of reprisal measures have greatly altered the trade structures of both countries. In particular, Korea, which is highly dependent on the US and China, has been directly affected by US-China trade disputes. The purpose of this study was to analyze the effects of US-China trade disputes on the stock price of Korean export firms by performing an event study. This study analyzed stock price fluctuations for 7 days before and after entry into forced [Please check] retaliatory tariffs on Korean exporters' export items subject to retaliatory tariffs. According to the analysis results, among companies that produce goods with major tariffs imposed on China by the US, such as electronic appliances, semiconductors, machinery, and automobiles, those producing electronics and semiconductor products were positively affected by the tariff incident. Secondly, among the companies producing steel, chemicals, and machinery, which the main tariffs imposed by the United States, companies producing steel and chemicals were negatively affected by the incident due to the stagnation of trade between China and the US. The results of this study suggest future trade policy directions for Korea and help to establish an export strategy for major industries.

• Journal of Contemporary Eastern Asia
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• 제20권2호
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• pp.174-196
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• 2021

Even though Sino-American relations of the Donald Trump era were perceived as predominately confrontational, with a symbolic trade war between the two, the scale of economic interdependencies between the United States and China results in either a need for collaboration or in serious losses on both sides in the case of lack of cooperation. The paper aims at analyzing economic relations between the United States of America and the People's Republic of China at the time of the Trump presidency. Analysis is based on the complex interdependence theory of Robert Keohane and Joseph Nye. The main hypothesis analyzed in the paper states: Asymmetric interdependence between the People's Republic of China and the United States of America limits the scope, intensity and length of a trade war. For the sake of the paper, economic interdependence will be analyzed. Apart from the reference to the state of the art, the document analysis and descriptive statistics are to be applied in the paper.

• 중국학논총
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• 제65호
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• pp.235-264
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• 2020

本文稿旨在就世界经济两大支柱体美国和中国在过去2年间持续的贸易纷争的背景和性质, 发展过程以及对两国经济的影响等进行概括总结。与此同时, 本文还将探索贸易摩擦作为G2之间争夺霸权的战争, 是否会波及到日益紧张的南中国海以及台湾海峡的局势。为此, 本文还将就以2008年世界金融危机为起点飞跃发展的中国, 与在冷战后维持单极体制的美国相对抗进而逐渐确立新两国体制的过程, 以及G2格局出现以后, 美, 中新冷战格局形成的过程等进行研究。

• East Asian Economic Review
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• 제24권4호
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• pp.349-388
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• 2020

The US-China trade war forced a reluctant semiconductor industry into someone else's fight, a very different position from its leading role in the 1980s trade conflict with Japan. This paper describes how the political economy of the global semiconductor industry has evolved since the 1980s. That includes both a shift in the business model behind how semiconductors go from conception to a finished product as well as the geographic reorientation toward Asia of demand and manufactured supply. It uses that lens to explain how, during the modern conflict with China, US policymakers turned to a legally complex set of export restrictions targeting the semiconductor supply chain in the attempt to safeguard critical infrastructure in the telecommunications sector. The potentially far-reaching tactics included weaponization of exports by relatively small but highly specialized American software service and equipment providers in order to constrain Huawei, a Fortune Global 500 company. It describes potential costs of such policies, some of their unintended consequences, and whether policymakers might push them further in the attempt to constrain other Chinese firms.

• 비교문화연구
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• 제52권
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• pp.165-194
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• 2018

본 연구는 환구시보 4월 7일 "용타항미원조적의지타대미무역전(用打抗美援朝的意志打對美貿易戰)" 사설에 대하여 비판적 담화분석의 접근법을 활용하여 텍스트 기술, 상호텍스트성, 사회문화적 수행 설명으로 구분하여 분석하였다. 본 사설은 '전쟁(戰爭)'과 관련된 어휘와 프레임을 집중적으로 사용하고 있다. 첫째, "무역전(貿易戰)"과 "항미원조(抗美援朝)"는 은유와 전쟁프레임을 보여주는 예이다. 둘째, "전략(戰略)"은 미국과 중국에 각각 부정적, 긍정적으로 사용되고 있다. 셋째, 다양한 전쟁 용어가 사용되었다. 넷째, '인유법(引喩法)'을 살펴보면, 전쟁관련 표현이 보인다. 본 사설의 상호텍스트성에서 두 가지 결과를 얻을 수 있었다. 첫째, 환구시보가 '대등한 보복'을 줄곧 사용하고 있다. 이유는 자신의 반격을 정당화하고, 그런 중국이 하는 전쟁은 '자위적 차원의 반격전(自衛反擊戰)'이 되도록 포장해주기 위함이다. 둘째, '싸우기는 싫은데, 싸움이 두렵지는 않다'라는 표현이 여러 사설에서 반복되었다. 그 이유는 다음과 같다. (1) 인민의 결집을 호소. (2) 공포심을 일으켜, 그들이 결집해야만 하는 이유를 암암리에 부여. (3) "두렵지 않다"를 통해 중국은 체면을 차리고, 미국에게는 "싸우기 싫다"는 '싸인'을 보내기 위함이다. 맥락상 같은 논지가 약 3개월(2018.03.23.-06.17)의 시간차를 두고 9개 사설에서 비슷한 표현으로 보이는 것은 상호텍스트성의 예라 할 것이다. 본 사설의 사회문화적 수행은 중국 정부의 패권 이데올로기를 전파함에 있다. 첫째, 핵심 국책사업 '중국제조(中國製造)2025'는 절대 포기할 수 없음을 분명히 밝힌 것이다. 둘째, 사설은 "항미원조(抗美援朝)"를 소명하여 미국을 비난 협박하고, 민심의 이반을 다독이며 결집을 호소, 시진핑 정부에 힘을 실어 주고자 하는 의도이다. 셋째, 중국은 미국과의 협상의 여지를 열어두고자 하고 있다.

• 한국항만경제학회지
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• 제20권2호
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• pp.275-288
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• 2004

The rising of east-north economic bloc is notable in world economy due to the rapidly growth of china economy. The China's economic standing is gradually higher and higher because the joining of the WTO at 2001, development of the exterior open-door policy and the expansion of the trade between chain and several nations. Since Korea and China normalized diplomatic ties in 1992, the two have made remarkable progress in bilateral relations in the fields of economy and diplomacy in particular. The amount of Korea's trade with China has increased by over 20% a year on the average because of the development of the economic cooperation of Korea and China. That is to say, China was sixth trade partner by the end of 1993, based on the amount of trade. But China became third partner at 1993, second partner at 2003 and first partner at the first half of 2004, based on the amount of trade. Korea can not trade with China from the Korea's port opening period to Cold War period after second world war. But historically, the two countries have shared a active and long history of trade relations from the ancient times up to now. This is because two countries get near geographically and two countries have a implication of history and culture. Not only had Korea trade with China at prehistoric age, but also at BC 7. We knew that Korea had traded with China very actively at ancient times through the Paekje(Korea's ancient country) people's village at Santung province and Changbogo's trade works. Korea-china trade relation has played an important role for the development of world economy. Therefor, based on reviewing the korea-china trade, I study the historical meaning of the trade at the region of east-north asia.

• East Asian Economic Review
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• 제22권3호
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• pp.275-306
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• 2018

Amid a general rise in protectionism and a trade war between the world's two largest economies, this paper analyzes changes in gains from trade for the world over a decade marked by rapid global economic integration preceding the global financial crisis of 2007-08. It employs state-of-the-art quantitative trade models based on the gravity equation to estimate autarky gains from trade, as well as a recently introduced ANOVA-type structural estimation of the gravity equation to obtain trade costs free of residual trade cost bias. Between 1995 and 2006, the cost of moving to autarky increased by about 45% on average. A decomposition exercise suggests most of the increase in autarky gains from trade on average was due to increases in import shares in total spending, with a limited role for reallocations of spending across sectors with varied trade elasticities. Changes in trade costs between 1995 and 2006 are found to have increased autarky gains from trade, as measured in 2006, by up to 100%.