China entry into the World Trade Organization (WTO) was twenty years ago seen as a success for the global trade, but then the WTO was unable to enforce its rules onto its new member, says Harry Broadman, chief of staff of the US President’s council of economic advisers (1990-1991) and US assistant trade representative (1991-1993) in an interview with Politico. What are the options to deal with China in international trade?
China did not comply with the conditions it signed up for when it entered the World Trade Organization (WTO), says former White House advisor Harry Broadman at the NACD Northern California Chapter in a discussion about American business in China. And while US president Joe Biden has taken on China bilaterally, it needs collective action to change the country’s attitude to trade, he adds.
The new US president Biden will be treating China in a multi-lateral fashion, not bilateral, like Donald Trump who saw trade basically as a real-estate transaction, says former White House trade negotiator Harry Broadman to BNN Bloomberg. China has ignored its trade obligations since admission into the World Trade Organization in 2001, he says, and Broadman does not expect another line now Trump has shaken that international boat.
After a first symbolic truce, the world should brace for the next phase in the trade war between China and the US, warns leading economist Arthur Kroeber, according to Barron’s. China has stalled its economic reforms and mechanisms to contain the US power fail, and the technology war is likely to resume, he stresses.
The US administration is trying to decouple its economy from China’s. And while there might be some arguments in favor of that position, the treat of decoupling for the world economy is huge, says international trade expert Harry Broadman in Forbes (here in pdf-format). Down the line, the US and global economies will be worse off, he warns.
The world, including China, is still trying to make sense out of the Trump/Xi trade talks. The Trump trade team is fighting the wrong battle, argues former U.S. Assistant Trade Representative Harry Broadman for Gulf News. “The Trump trade team continues to fight the wrong battle with China.”
The upcoming Trump-Xi meeting in Argentina generates some hope, but economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, does not expect a fast end to the ongoing trade war between the world’s largest economies, he tells at NPR. NPR: ARTHUR KROEBER: I think people in the U.S.