In the present 21st century, international trade is recognized to be one of the most important vehicles for accelerating the pace of growth and development. This is for a country irrespective developed or developing and global economy. Accordingly, trade disputes have come out a significant issue for the global trading system to be concerned. It is because this defeats the purpose of creating World Trade Organization (WTO) for promoting multilateral trading system. Trade disputes combined with building up in leveraging higher asset unit values may emerge out as a deterrent to world trade. It is the same in turn affecting the existing global trading system to a greater extent. This has become sin-quo-non to minimize possible trade disputes among major trading economies across the world. In the past decades, we’ve seen that two contributory factors namely- leverage and asset prices, which were linked for the 2008 economic and financial crisis. The same situation is coming up. The international community needs to pay attention for the issues on footing. Otherwise the situation may become worse and out of control. It is an undisputed fact that the world growth has been sound and strong and sound. However, the matter of the concern for global players is how long it will remain strong and sound on the one hand. And how it is the persisting elevated asset price, on the other side, could be justified on the basis of a strong economic and trade growth and development in the world.
A serious threat to global trading system is the increased conflicts of interest between the U.S. and China. The U.S. has launched auto probe against China. According to the U.S. Government, the national security investigation is underway against car and trucks imported from China in the light of Section 232 of Trade Expansion Act (TEA) of 1962. This investigation is to find out whether vehicles and parts importing from China threaten the domestic industry’s health and ability in terms of research and development of new and advanced technologies. The U.S. has claimed that there is enough evidence suggesting that, in the last several decades, imports from trading partners especially China and India, have eroded the country’s auto industry. China, India and other countries have returned to the U.S. that investigation must be fair and transparent.
It is rightly opined that higher tariffs imposed by the U.S. are painfully affecting Asian auto makers, such as Toyota, Nissan, Honda and Hyundai, which are major exports to the U.S. in a greater extent. Accordingly, there is a broad selling-off in auto makers across Asian continent. The Government from Japan, China and South Korea have started to take steps in monitoring the trends and situation. China has come out with the words that the country would defend its interest.
China has been opposing the abuse of national security clause, which is going to seriously damaging the existing multilateral trading system. This may increasingly affect and disturb the existing International Trade Order (ITO). Trade analysts have observed that there is an immediate need for focusing on whether Beijing and Washington are making any progress in their respective trade frictions, which have put ITO under heavy odds.
Consideration of the Special Issue
Keeping in mind of the above mentioned issues and their significance to international business and trade growth in developing and least developing nations; there is an urgent need for academicians, professionals and policy makers to examine the issues in depth and explore the solutions in reality. For this intention, Transnational Corporations Review (TNCR), an international journal published by Taylor & Francis, plans for a Special Issue related to Global Trade Distributes: Implications for International Business, Economics and Trade. This could be the most burning issue irrespective of developed, developing large or small economies. The aim of this special issue is to invite research papers from academicians, professionals, and policy makers in regard to how some critical and strategic issues should be taken into account. It is to provide amicable thinking and solutions to the issues with which the globe has confronted.
Trade related issues have far reaching impact and consequences to multilateral trading system and international development. The issues need to be investigated deeply in linking to institutional, social and cultural contexts. The contributors are given freedom to submit research papers on the different aspects related to the issues. The main thrust should be on and around the topic. Some important Time lines for this Special Issue are:
- Date of submission of papers: May 31, 2019
- Review and revising of papers: August 31, 2019
- Acceptance of papers: September 30, 2019
- Publication of Issue: December 31, 2019
The contributors are requested to submit their papers to Taylor & Francis online submission system at www.tandfonline.com/rncr, along with the following emails: firstname.lastname@example.org and email@example.com. Suggested experts for reviews are welcomed, while it would not be guaranteed to invite for suggesting submissions. For more information about this special issue, please contact: Prof. Dr. Badar Alam Iqbal, Emeritus Professor, External Relation Chair in Research at Frederic Bastiat Institute for African Economic Research.
Download PDF file Call for Papers_US-China Trade Disputes.pdf