Stephen Olson reflects on Biden’s China strategy and how the spy balloon saga affects the US-China relationship. Rising trade restrictions and disruptions in global supply chains underscore the lack of diversification in trading economies and a need to craft more sustainable trade relationships, Oxford Economics finds in a deep dive into the Sustainable Trade Index. Patrick Low writes about the growing role of services in global trade. Plus, our latest discussion guide on China's rise in the WTO, an upcoming educator's forum, and a briefing for reporters on the index.
NEW RESEARCH
Has the spy balloon derailed Biden’s China strategy?
Stephen Olson 14 February 2023
US Secretary of State Antony Blinken’s scheduled visit to Beijing was shot down over the spy balloon debacle. Hinrich Foundation Senior Research Fellow Stephen Olson assesses where the US-China relationship is headed and analyzes where Biden’s China strategy stands.
Sustainable trade deep dive: How diversification shapes trade
Darren Anderson 14 February 2023
In the evolution of trade over recent decades of globalization, one trend has shaped how economies have changed. China has used its market heft, the largest in the world, to turn itself into the most diversified economy among the 30 sampled in the Hinrich-IMD Sustainable Trade Index 2022. This has had consequences for the level of concentration of economies that depend heavily on the Middle Kingdom as an export destination, such as Peru and Australia. In this first deep dive in a series of four into findings and themes of the STI 2022, Oxford Economics takes us into a data-rich analysis of the patterns that have emerged in trade dependency in the last two decades.
While many trade experts and policymakers lament the passing of the golden age of globalization and rapid growth, Patrick Low argues that the picture is more nuanced. While trade in manufactures as a proportion of overall economic activity appears to have peaked in some countries, trade in services has certainly not peaked nor slowed its growth as a proportion of GDP.
“Ambiguity favors us”: China’s rise in an evolving WTO
More than 20 years after China’s accession to the WTO, few would argue – inside or outside the country – that the Chinese economy has benefited handsomely from joining the global trading system. But the ambiguities that favored China's accession are now casting a long shadow on the WTO's future. This discussion guide for trade educators is based on a paper by Keith Rockwell of the Wilson Center and former spokesman for the WTO.
The Sustainable Trade Index (STI) 2022 is a powerful policy tool for trade officials and business leaders, but how can it be leveraged for effective trade education? Join us for the STI Educator’s Forum on 23 February to understand how the STI can be used effectively in the classroom. Register now to learn from Christos Cabolis and Stephen Olson how the STI can supplement academic materials and lead class discussions on global sustainable trade.
How reporters can use the Hinrich-IMD Sustainable Trade Index 2022
This educational program, developed by the Association of Foreign Press Correspondents in partnership with the Hinrich Foundation, provided foreign correspondents with the opportunity to learn from two experts, Stephen Olson and Christos Cabolis, about the Sustainable Trade Index, its policy implications, and use for reporters.
