The Effects Of Trade Wars On World Economy, Example Of USA And China

Mammadov Suleyman (2023) The Effects Of Trade Wars On World Economy, Example Of USA And China. Külkereskedelmi Kar.

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Absztrakt (kivonat)

The aim of my study is to evaluate the mutual effects of the total exports and imports of the USA and China, which are the two great political and economic powers of the world, in the framework of trade wars, by econometric methods. While evaluating the mutual effects of export and import variables, Eurodollar parity and dollar-Yuan parity will be also considered as control variables. First, this thesis explains what the background of the current trade relations, general rules, and conditions is. To do so, It starts from the history of trade. How has it changed within the centuries? What were the main factors affecting the world trade? How globalization started and expanded? What was the pushing factors of the trade wars? To understand all these it would be useful to look at the emergence of mercantilism and its ideas by focusing on its main elements and the thoughts of classical and neoclassical economists on mercantilism. The colonialization is another factor affected the wealth distribution, economic connections and modern trade relations. Also, perhaps one of the biggest influences to the competition between countries on trade has been the industrial revolution which emerged in England and then spread to the rest of Europe and the world. These all are covered with details in the thesis. After that thesis analyses the effects global trade expansion on the world economy starting from the world wars and their effects on current financial system and economical, political relations between the countries. With the expansions of trade relations, high production with industrial and agricultural revolution and emergence of big multinational corporations some countries who maximized their opportunities gained huge advantage on the world economy. This lead to the current economic order where there are several dominant countries in the world economy like USA, China, UK, India, Russia, Germany, France and etc. On the other hand, those countries are competing to gain more advantage which is experienced as currency wars and trade wars affecting not only those countries but the whole world as they owe the biggest share in the current world economic order. As we are looking at how the trade wars are shaped up within the general economic framework, it will be useful to look at the process of accelerating the trade wars of the countries. The two main actors of trade wars have been the USA and China. Even though the official start of the trade wars was 2018, the trade wars have already started with the moves made by these two countries. Here, currency wars, which constitute a significant infrastructure of trade wars, came into play. In addition to the situation of the USA, which had a troubled period in the 2008 crisis, China, took the advantage of the slowdown in the economy. Two countries are doing their best to obstacle the growth of the other as they impose high tariffs to the imports and apply various sanctions to each other. Thesis covers the main actions taken by both USA and China under the shadow of trade wars that are, again, affecting not only them but the whole world.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Külkereskedelmi Kar

Tanszék

Nemzetközi Gazdaságtan Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Nemzetközi gazdaság és gazdálkodás (angol)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	EU és az USA, kereskedelmi politika, kereskedelmi vétel, kína, külkereskedelmi statisztika, Trade wars
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2023. Ápr. 20. 14:01
Utolsó módosítás:	2023. Ápr. 20. 14:01

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