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How Do You Solve a Problem Like Maria? US – Countervailing Measures (China) (21.5)

Published online by Cambridge University Press:  29 June 2021

Douglas Nelson
Douglas Nelson*
Affiliation:
Murphy Institute & Department of Economics, Tulane University, New Orleans
*
*Corresponding author: Email: dnelson@tulane.edu
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Abstract

The rise of China as a genuine world power, economically and militarily, constitutes the gravest challenge faced by the liberal international order constructed in the aftermath of the Great Depression and the Second World War. A major source of strain in the trade relations between China and the other core members of the liberal world trading system is its extensive use of state-owned enterprises as an instrument of general (domestic) economic policy. This paper builds on Ruggie's theory of embedded liberalism and the theory of economic policy to characterize the political and economic difficulties and opportunities in moving toward a new regime for dealing with subsidies. The conclusion sketches some goals such a regime should seek to embody.

Keywords

Chinasubsidiesstate-owned enterprisesembedded liberalism
Type
Original Article
Information
World Trade Review , Volume 20 , Special Issue 4: WTO Case Law , October 2021 , pp. 556 - 565
Copyright
Copyright © The Author(s), 2021. Published by Cambridge University Press

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