Question of US-China Trade War Looms as Policy Debate Intensifies

NEWARK, N.J., Oct. 26 /PRNewswire-USNewswire/ -- Despite fierce words flying across the Pacific Ocean and a mounting U.S. trade deficit with China, a full-fledged trade war that would disrupt one of the world's busiest shipping lanes is unlikely, experts tell The Journal of Commerce. In a Special Report released this week, the JOC examines the deteriorating relationship between the United States and China, impending legislation and the multinational reach of battle lines.

(Photo: http://photos.prnewswire.com/prnh/20101026/NY88879 )

(Photo: http://www.newscom.com/cgi-bin/prnh/20101026/NY88879 )

August's record $28 million U.S.-China trade deficit brings the year's total for the first eight months to $173.4 billion. Between 2000 and 2009, U.S. exports to China increased from $16.2 billion to $69.5 billion; imports increased from $100.1 billion to $296.4 billion. Without a tactical shift in pressuring China for currency devaluation, outsourcing will only worsen the U.S.'s already skyrocketing unemployment rates. Those pressing for a market-driven yuan believe it would strengthen U.S. export opportunities and increase the ability to compete with low-priced Chinese imports.

Bipartisan support -- in both the House and the Senate -- for punitive tariff legislation could engender a strong blow, but experts maintain that fears of backlash retaliation leading to a full-blown trade war between China and the U.S. are unfounded.

A trade war is "always possible, but it's in the overwhelming interest of both sides not to let that happen," said Steve Orlins, president of the National Committee on United States-China Relations.  

The Journal of Commerce report provides in-depth analysis of the reality behind recent threats and sharp accusations, dissent between trade organizations and Washington and the potential for multilateral pressure at the upcoming Asia Pacific Economic Cooperation Summit in Yokohama, G-20 summit in Seoul and World Shipping (China) Summit in Guangzhou.

To view daily news visit www.joc.com. For all media enquires, including article reprints, please contact Editorial Director Paul Page.

Since 1827, The Journal of Commerce has been the most trusted source of intelligence for international logistics executives to help them plan global supply chains and better manage day-to-day transportation of goods and commodities in the United States and internationally.

To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10% discount on all JOC events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to "By the Numbers," an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Trans-Pacific and Trans-Atlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.  

About UBM Global Trade - UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS Global Intelligence Solutions and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of United Business Media Limited, is headquartered in Newark, NJ, with offices throughout the United States. For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).

SOURCE The Journal of Commerce

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