Exchanging Approaches: Evaluating Methods to

Counter Chinese Currency Undervaluation

Exchanging Approaches: Evaluating Methods to

Counter Chinese Currency Undervaluation

I. Introduction

vis à vis

China Versus the West: The Global Power Shift of the 21st Century

IbidIbidIbidIbid

The Making of China’s Exchange Rate Policy: From Plan to WTO Entry

The Economist

The Economist

The Economist

IbidThe Regulation of International Trade

Ibid

Uses and Misuses of Anti Dumping Provisions in World Trade: A Cross CountryPerspective

The Globalization Paradox: Democracy and the Future of the World Economy

II. Is China’s currency undervalued?

supra

IPC White Paper

supra

supraIbidIbidIbidIbidIbidIbid

vis à vis

Ibid

supraIbid

The No Nonsense Guide to Global FinanceReuters

Wall Street Journal

The Washington Times

The China Times

”Forbes

supraThe Reckoning: Debt, Democracy, and the Future of American Power

III. What are the effects of Chinese currency undervaluation?

The WallStreet Journal

supra

supraIbid

suprasupra

Ibidsupra

Ibid

The Globalization of Crime: A Transnational Organized Crime ThreatAssessment

Ibid.Foreign Policy Index: China

IbidIbid

Balance of Payments: Categories and Definitions

Ibid

Current account balance

Ibidsuprasupra

IbidIbid

vis à vis

vis à vis

supraIbid

supraChina

Ibidsupra

IbidIbidIbidIbid

combined with a tax on imports

IbidIbidIbidIbidIbidIbidIbid

all

IV. What are the potential legal approaches the United States can take to combat

Chinese currency undervaluation?

Ibidsupra

Ibid

A. Article XV of the GATT and IMF Articles

the intent of the GATT is not to impose

disciplines beyond those required by the IMF

General Agreement on Tariffs and TradeGATT 1947

WTO Analytical Index: GATT 1994

GATT 1947, suprasupra

IbidIbid

IbidIbidArticles of Agreement of the International Monetary Fund

Ibid.Ibid.Ibid

Ibid.Ibid.IbidIbid.IbidIbidIbidIbid

Modernizing the Legal Framework for Surveillance—An IntegratedSurveillance Decision

Integrated SurveillanceDecision

Integrated Surveillance Decision supra

Ibid .Ibid.Ibid.

Ibid .The Economist

BBC News

TheWashington Times

supra

Integrated Surveillance Decision supraIbid.Ibid.Ibid.Ibid.

ex post

suprasupra

Ibid

supraIbid

supra

actus

reus mens rea

Argentina— Textiles and Footwear India — Quantitative Restrictions

Integrated Surveillance Decision supraGATT 1947 supraArgentina—Measures Affecting Imports of Footwear, Textiles, Apparel and Other Items (Complaint by

the United States)

India—Quantitiative Restrictions on Imports of Agricultural, Textile and Industrial Products (Complaintby the United States)

.

B. Countervailing Duties

Agreement on Subsidies

and Countervailing Measures

FredBergsten and the World Economy

supraGATT 1947 supra

supraUnderstanding Trade Law

Understanding Trade LawAgreement on Subsidies and Countervailing Measures

SCMAgreement

supraUnderstanding Trade Law supra

IbidIbidIbidIbid

SCM Agreement supraIbid.

US— Anti Dumping and Countervailing Duties (China)

SCM Agreement supraUnited States—Definitive Anti Dumping and Countervailing Duties on Certain Products from China

US—Anti Dumping

Ibidsupra

Understanding Trade Law supraSCM Agreement, supra (a) injury to the

domestic industry of another Member; (b) nullification or impairment of benefits accruing directly orindirectly to other Members under GATT 1994 in particular the benefits of concessions bound under ArticleII of GATT 1994; (c) serious prejudice to the interests of another Member.

suprasupra

supra

IbidUnderstanding Trade Law supra

Understanding Trade Law supraChina’s Growing Role in World Trade

Ibid

for goods produced in China

US— Upland

Cotton

supraIbidIbidIbid

supra

US— Anti Dumping and

Countervailing Duties (China)

Currency Reform for Fair Trade Act

United States—Subsidies on Upland Cotton (Complaint by Brazil)

US—Anti Dumping supraArnold & Porter LLP Advisory

Ibid.govtrack.us

C. Antidumping Provisions

govtrack.us

suprasupra

GATT 1947 supraIbid.Ibid.Ibid.Ibid.Ibid

Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994Anti Dumping Agreement

Egypt — Steel Rebar

Agreement on Implementation of Article VI of the General Agreement on Tariffs and

Trade 1994

supra

suprasupra

Anti Dumping Agreement supraEgypt—Definitive Anti Dumping Measures on Steel Rebar from Turkey (Complaint by Turkey)

US— Hot Rolled Steel

The World Trade Organization: Law,Practice, and Policy

Uses and Misuses of Anti Dumping Provisions in World Trade: A CrossCountry Perspective

Understanding Trade Law suprasupra

supraAnti Dumping Agreement supraIbidUnited States—Anti Dumping Measures on Certain Hot Rolled Steel Products from Japan (Complaint by

Japan)

Ibid.

D. Safeguards

IbidUnderstanding Trade Law supra

supraUnderstanding Trade Law, supra

Ibid

GATT 1947 supraIbidIbidIbid

Understanding Trade Law supraIbid

supra

Agreement on Safeguards,

Understanding Trade Law suprasupra

Agreement on Safeguards

Ibid.Ibid.Ibid. Ibid.

Ibid.Ibid.IbidIbidIbid

Understanding Trade Law, supra

Agreement on Safeguards

Agreement on Agriculture General Agreement on Trade in

Services Agreement on Apparel, Textiles, and Clothing

Agreement on Safeguards supraIbidIbid

Understanding Trade Law, supra supra

supraIbid

Argentina—Footwear

Agreement

on Safeguards

IbidArgentina – Safeguard Measures on Imports on Footwear

Argentina – Safeguard Measures on Imports on FootwearArgentina – Footwear

Argentina—Footwear

US—Lamb

Agreement on Safeguards

supraUnderstanding Trade Law, supra

IbidIbidIbid Argentina—Footwear supraUnited States – Safeguard Measures on Imports of Fresh, Chilled or Frozen Lamb Meat from New Zealand

and Australia

supra

Agreement on Safeguards

Agreement on Safeguards

Understanding Trade Law, supraUnited States – Definitive Safeguard Measures on Imports of Wheat Gluten from the European

CommunitiesUS – Wheat Gluten, supra

IbidIbidIbid US – Wheat Gluten supra

US—Wheat Gluten

US—Line Pipe242

IbidIbidUS Wheat Gluten supraUnited States – Definitive Safeguard Measures on Imports of Circular Welded Carbon quality Line Pipe

from Korea US—Line Pipe

supra

Understanding Trade Law supra supra

The WTO Agreement on Safeguards: A Commentary

IbidSafeguard Measures in World Trade: The Legal Analysis

supra supra

supra

suprasupra

Understanding Trade Law, supra

IbidTheoretical Rationales for the WTO Safeguard Regime

IbidIbidIbid

Agreement on Safeguards

Ibid IbidIbid

supraIbid

V. Howwould a new safeguards regime address concerns relating to currency

undervaluation?

supraRecognition and Regulation of Safeguard Measures Under GATT/WTO

The World Trading System: Law and Policy of International Economic Relations

Understanding Trade Law, supraIbid

supraUnderstanding Trade Law supra

supra

Ibid Ibid

Understanding Trade Law supraIbid

supraUnderstanding Trade Law, supra

supra supra

IbidIbidIbid

The Economics of the World Trading System

ex post ex

ante

Sykes, supraIbidIbid

supra

Understanding Capitalism

Regulation and Public Interests: The Possibility of Good Regulatory Government

supraIbidIbidIbid

Ibid

façade

raison d'être

IbidIbidIbid IbidIbid

Developmental and Social Safeguards

IbidIbidIbidIbidIbidIbid IbidIbidIbid

IbidIbidIbidIbidIbidIbidIbid Ibid

Ibid

IbidIbid

de facto

Designing Government: From Instruments to Governance

What Makes Poor Countries Poor? InstitutionalDeterminants of DevelopmentIbidIbid

supraUnderstanding Trade Law, supra

suprasupra

Ibid

Understanding Trade Law, supra supra

suprasupra

Ibidsupra

Ibid IbidIbid

supraIbidIbid

suprasupra

Ibid

prior to

pay

beggar thy neighbour

supraTrade In Goods: The GATT and the Other WTO Agreements Regulating Trade in

GoodsIbid

suprasupra

IbidIbid

Agreement on Safeguards, supra

supra

, suprasupra

VI. Conclusion

supraIbidIbidIbid

supra

Agreement on Safeguards

Ibidsuprasupra

supraIbidIbid

Ibid

IbidIbidIbid

IbidIbid

supra

Understanding Trade Law supra , supra

suprasupra

Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade

1994

Agreement on Safeguards

Agreement on Subsidies and Countervailing Measures

Articles of Agreement of the International Monetary Fund

General Agreement on Tariffs and Trade

Argentina—Measures Affecting Imports of Footwear, Textiles, Apparel and Other Items

(Complaint by the United States)

Argentina – Safeguard Measures on Imports on Footwear

Egypt—Definitive Anti Dumping Measures on Steel Rebar from Turkey (Complaint by

Turkey)

India—Quantitiative Restrictions on Imports of Agricultural, Textile and Industrial

Products (Complaint by the United States)

.

United States—Anti Dumping Measures on Certain Hot Rolled Steel Products from Japan

(Complaint by Japan)

United States—Definitive Anti Dumping and Countervailing Duties on Certain Products

from China

United States – Definitive Safeguard Measures on Imports of Circular Welded Carbon

quality Line Pipe from Korea

United States – Definitive Safeguard Measures on Imports of Wheat Gluten from the

European Communities

United States – Safeguard Measures on Imports of Fresh, Chilled or Frozen Lamb Meat

from New Zealand and Australia

United States—Subsidies on Upland Cotton (Complaint by Brazil)

The Economics of the World Trading System

Understanding Capitalism

Regulation and Public Interests: The Possibility of Good Regulatory

Government

China’s Growing Role in World Trade

The World Trading System: Law and Policy of International Economic

Relations

Safeguard Measures in World Trade: The Legal Analysis

The Making of China’s Exchange Rate Policy: From Plan to

WTO Entry

The World Trade

Organization: Law, Practice, and Policy

Trade In Goods: The GATT and the Other WTO Agreements

Regulating Trade in Goods

The Reckoning: Debt, Democracy, and the Future of American Power

Recognition and Regulation of Safeguard Measures Under GATT/WTO

The Globalization Paradox: Democracy and the Future of the World

Economy

The No Nonsense Guide to Global Finance

The WTO Agreement on Safeguards: A Commentary

Understanding Trade Law

What Makes Poor Countries Poor?

Institutional Determinants of Development

The Regulation of International

Trade

China Versus the West: The Global Power Shift of the 21st Century

Fred Bergsten and the World Economy

Uses and Misuses of Anti Dumping Provisions

in World Trade: A Cross Country Perspective

Uses and Misuses of Anti Dumping

Provisions in World Trade: A Cross Country Perspective

Designing Government: From

Instruments to Governance

The Washington Times

The Washington Times

Arnold &

Porter LLP Advisory

The Globalization of Crime: A Transnational Organized Crime

Threat Assessment

The Economist

Balance of Payments: Categories and Definitions

Reuters

govtrack.us

govtrack.us

Modernizing the Legal Framework for Surveillance—An

Integrated Surveillance Decision

WTO Analytical Index: GATT 1994

IPC White Paper

The Economist

Foreign Policy Index: China

China

” Forbes

Theoretical Rationales for the WTO Safeguard Regime

The Economist

The China Times

Current account balance

The Wall Street Journal

The Economist

BBC News

First Part--Brandon Trask--Thesis--18 Aug 2013--Revised-24 Second Part--Brandon Trask--Thesis--18 Aug 2013--Revised-2