Trade
in sentence
11085 examples of Trade in a sentence
BERKELEY – Probably the question most frequently asked of international economists these days is: “Are we seeing the start of a
trade
war?”
Because it runs a surplus with the US, China stands to lose if bilateral
trade
grinds to a halt.
And by appealing to the WTO, it positions itself as a champion of free and open
trade.
Obviously, these
trade
actions are much larger and more dangerous than those affecting $3 billion of Chinese aluminum and steel.
That is why the tunnels do such a roaring trade, which Hamas taxes to fund its activities.
Over- and under-invoicing of trade, for example, is a time-tested way to spirit money out of a country.
The dollar’s predominance in
trade
and international financial transactions has remained strong; at the same time, the scale of those transactions has continued to increase relative to the world economy.
Too many people are working in traditional, low-productivity service industries, such as wholesale, retail trade, and restaurants, leaving modern, high-productivity services like communications, health, financial intermediation, and business services underdeveloped.
Brazil is not running a
trade
deficit at 7 or 8% of gdp, as did Mexico.
Automation and other technological changes, globalization, weaker
trade
unions, erosion of minimum wages, financialization, and changing norms about acceptable pay gaps within enterprises have all played a role, with different weights in the United States relative to Europe.
The Drums of
Trade
WarBEIJING – Last month, US President Donald Trump’s administration fired the opening salvo in what is quickly shaping up to become a full-blown
trade
war.
While
trade
friction has long been an issue in the Sino-American relationship, few expected such an escalation, not least because economists widely view
trade
wars as damaging to all parties.
First and foremost, Trump does not seem to understand how
trade
works.
He thinks that America’s $500 billion
trade
deficit with China amounts to a loss, the result of “incompetent” US administrations allowing their Chinese counterparts to take advantage of them.
But
trade
balances are far more complex than Trump makes them out to be.
For starters, much of what China exports includes components manufactured elsewhere, meaning that the country’s
trade
surplus actually includes the
trade
surpluses of many other countries.
China’s overall
trade
surplus as a share of GDP has fallen steadily over the last decade – from nearly 10% in 2007 to just above 1% in 2017 – meaning that the country’s external account is basically balanced.
While the US external deficit could stand to be reduced, as it partly reflects America’s own lack of savings,
trade
policy alone would be insufficient to achieve that goal.
None of this is to say that the US does not have any legitimate grievances about China’s
trade
practices.
The USTR’s 2016 report on the topic acknowledged the complexity of the picture presented by China’s WTO membership at the time, but took an overall positive tone, highlighting the expansion of mutually beneficial
trade
and investment.
Instead, asserting that the US had “erred in supporting China’s entry into the WTO on terms that have proven to be ineffective in securing China’s embrace of an open, market-oriented
trade
regime,” the USTR focused on complaints about Chinese industrial policy, which is largely beyond the WTO’s scope.
We may yet avoid a
trade
war.
Trump then declared that
trade
negotiations with China were going “very well.”
Then US and Chinese leaders can turn their attention to the broader problem of avoiding the Thucydides Trap, thereby preventing a clash with consequences that would dwarf those of a
trade
war.
In addition, the November Asia-Pacific Economic Cooperation meeting, held in Obama’s home state of Hawaii, promoted a new set of
trade
talks called the Trans-Pacific Partnership.
Whereas the US and the Soviet Union had limited
trade
and social contact, the US is China’s largest overseas market, welcomed and facilitated China’s entry into the World
Trade
Organization, and opens its universities’ gates to 125,000 Chinese students each year.
The Pentagon’s East Asia Strategy Review, which has guided American policy since 1995, offered China integration into the international system through
trade
and exchange programs.
Whatever the two sides’ competitive positions, Sino-American cooperation on issues like trade, financial stability, energy security, climate change, and pandemics will benefit both countries.
Indeed,
trade
overshadows aid, and China – led by its border provinces – is now North Korea’s main trading partner and source of foreign investment.
Chinese Premier Wen Jiabao announced a major
trade
package during his trip to Pyongyang last November, perhaps on the order of $10 billion.
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