Study on reverse globalization from the perspective of international trade(PDF)
《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]
- Issue:
- 2020年04期
- Page:
- 23-32
- Research Field:
- 国际经济与贸易
- Publishing date:
Info
- Title:
- Study on reverse globalization from the perspective of international trade
- Author(s):
- YU Miaojie; LAN Jinhai
- China Center for Economic Research & National School of Development，
Peking University，Beijing 100871，China
- Keywords:
- international trade; reverse globalization; trade protectionism; SinoUS trade dispute; Brexit; tariff barrier; anti dumping
- PACS:
- F114
- DOI:
- -
- Abstract:
- The outbreak of the US financial crisis in 2008 caused a severe blow to the world economy, and the subsequent European debt crisis caused a huge blow to the EU. Faced with the unfavorable economic situation at home and abroad, individual countries gradually began to doubt the positive effect of free trade policies on their economies. Some even attributed the decline in economic growth to trade factors, and began to seek trade protection or interruption of trade agreements to stimulate domestic economic growth, which are considered measures to reverse globalization. This paper takes the typical Sino-US trade dispute and the Brexit incident as key examples to study and analyze the issues related to reverse globalization. The research argues that, although past literature has pointed out the rationality of a country’s establishment of tariff barriers under specific circumstances and the positive effect of antidumping measures on its own economy, recent major research findings on the SinoUS trade dispute and the Brexit incident have indicated negative impacts of reverse globalization measures on the national economy and global economy, including negative impacts on price levels, social welfare, economic growth, microenterprises and employment. Only a handful of studies believe that the SinoUS trade dispute and the Brexit incident will have a positive impact on the national economy of the country initiating the measures. The inconsistency between the research conclusions and government actions shows that the current international trade theory can hardly explain the reasons and motives of the current round of reverse globalization. However, as the followup research progresses, it is expected to be understood from more new perspectives of international trade.
Last Update: 2020-10-07