DOCSLIB.ORG

Freeing Trade Barriers in Asia Chairs: Mohammadou Gningue

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Freeing Trade Barriers in Asia Chairs: Mohammadou Gningue SciMUNC 2018 World Trade Organization Topic: Freeing Trade Barriers in Asia ​ Chairs: Mohammadou Gningue ([email protected]) Alysa Chen ([email protected]) Dear Delegates, Welcome to the Bronx High School of Science Model United Nations Conference (SciMUNC) 2018! We’re so excited to have you join us as delegations at the World Trade Organization at SciMUNC this year. My name is Mohammadou Gningue, and I’m elated to be serving as co-chair for this committee. I’ll be working closely with my co-chair, Alysa Chen, as well as your rapporteur Maliha Akter to make sure that this committee runs as smoothly as possible. I’m currently a senior at The Bronx High School of Science and have been participating in MUN since I was a sophomore and this is my second year chairing a committee. I’m really excited to be working with you all and hope that we have a very successful conference. I hope for the very best out of you all and for another wonderful SciMUNC! Hi, I’m your Co-Chair Alysa Chen. I’m a rising senior and I’ve been a part of Bronx Science Model UN Team for one year. This is my first time chairing a conference. What truly inspires me to continue enjoying MUN is working with people from all over the world. Outside of MUN, I am a huge environmental activist. My dream is to work for the UN Environmental Programme or practice environmental law in the ICJ one day! Hi, my name is Maliha Akter and I am Rapporteur. I am a rising senior and I have been a part of the Bronx Science Model UN team for a year. I look forward to hearing each delegate’s proposition to resolve the issue. We highly recommend that you refer to the official UN website for additional references or to the National Model United Nations website for guidelines and rules if it is your first time partaking in any committee. If there are any questions or concerns, feel free to email Mohammadou Gningue or Alysa Chen at [email protected] or [email protected] or contact the Bronx High School of Science MUN team through faculty advisor Diane Steiker at [email protected]. Sincerely, Mohammadou Gningue, Co-Chair of World Health Organization Alysa Chen, Co-Chair of World Health Organization 1 Committee Description: The World Trade Organization (WTO) is an integral global organization that presides over international trade. This important and powerful committee was founded in 1995 in Geneva, Switzerland as a result of trade negotiations known as the Uruguay Round. The WTO is tasked on maintaining integral and important trade rules that govern the global trading network, as multiple governments can negotiate multiple trade deals to create a fairer trading sphere. There are multiple ways in which the WTO manages the negotiations regarding trade. Previously, the WTO used the “Doha Development Agenda”, a set of rules instilled in 2001. Its goal was to reform the international trading system through instilling lower trade barriers and opening new markets. The Doha Round talks involved over 20 aspects of trade, as negotiations take place in the Trade Negotiations Committee and other negotiating groups. The specific goal of the Doha Round of trade talks was to establish a cohesive and expansive trade agreement. However, the goal of establishing the agreement by 2005 ultimately failed, due to the lack of support shown by the United States and Europe regarding agricultural subsidies. This ambitious round of talks strived to aid the development of trade in developing nations, specifically reducing subsidies to import agriculture from places such as Europe and the United States. As of now, the 2 WTO operates in multiple bodies, such as the “Dispute Settlement Body”, where governments can air their grievances regarding trade disputes. In many WTO bodies, governments may be accused of “dumping”, the practice in which a country exports goods at a decreased price compared to the price of making the good itself. This practice helps the country gain an enormous profit, however it restricts free trade and can often harm the trading ability of developing nations. The World Trade Organization also possesses numerous abilities regarding trade. The WTO is the place where markets can be opened through negotiations, maintain trade barriers, and overall provide legal frameworks regarding global trade. The WTO has the ability to levy sanctions against nations if they are found to be engaging in dumping or violating WTO agreements. The WTO has produced many agreements since the failed Doha talks. For example, the Trans-Pacific Partnership was created in the WTO, which involves the 11 countries around the Pacific Ocean, and previously the United States. Another trade agreement is the Transatlantic Trade and Investment Partnership, which is a developing agreement between the United States and European Union. Although the agreement promises enormous benefits to both nations, the terms of the agreement have not been settled. One such function of the World Trade Organization is to deal with trade negotiations on a global scale. In the Doha Round, members negotiate regarding tariffs, legal trade barriers, and more. In many negotiations, the members debate WTO Trade Agreements, which involve 1) Goods 2) Services 3) Intellectual property. These three prongs are essential to all trade agreements that take place in WTO committees, as the WTO aims to lower tariffs between 3 nations and keep free and open markets. To add on, another function of the WTO is to aid the development of markets in developing countries. The WTO strives to allocate resources and efforts to develop such intricate markets by increasing their trading capacity, resolve disputes, and implement standards imposed by the committee. This goal allows the WTO to work with other organizations to develop the necessary infrastructure for a market to flourish. The WTO also works with other organizations, such as the United Nations and other international organizations to enhance the effectiveness and awareness of ongoing WTO agreements and negotiations. Introduction A trade barrier is a general term that describes any government policy or regulation that ​ ​ restricts international trade. The barriers can take many forms, including: Import duties, import licenses, export licenses, import quotas, tariff, and subsidies. Most tangible trade barriers work on the same principle: the enforcement of some sort of cost on trade that raises the price of the traded products. Other (intangible) trade barriers exist, such as, differences in culture, customs, and traditions. If at least two nations repeatedly use trade barriers against each other, then a trade war results. Hypothetically, free trade involves the removal of all such barriers, with the ​ ​ exception of those considered necessary for health or national security. Examples of free trade agreements and organizations include the North American Free Trade Agreement (NAFTA), South Asia Free Trade Agreement (SAFTA), European Free Trade Association, the European Union (EU), and the Union of South American Nations. Despite the existence of such agreements, countries that heavily promote free trade subsidize certain industries, such as 4 agriculture and steel. Asia is a vast continent that contains numerous trade barriers both within and outside of the region. For example, as one of the most populous nations in Asia, China plays a major role in the regional trade. Although, China itself is an industrious nation, it has kept a grasp on industries from neighboring countries. But its relationship with foreign countries residing outside of Asia remains tumultuous. It is expected for each delegate to work with one another to generate potential solutions regarding the removal of trade barriers. Background/History of the Problem The official trade relationship between the United States and China has existed for nearly two centuries. It is a complex system of fluctuating dependencies that has led China to become the United States’ most influential and troubled trading partner. Trade relations between the two superpowers have historically been scarred by unequal treaties, a treaty which massively ​ ​ benefits one signatory country over the other. Prior to 1842, U.S. trade with China was restricted to individualized relations between American and Chinese corporations and merchants, with tea accounting for over 80% of U.S. imports from China. The treaty of Nanjing, ratified after the First Opium War in 1842 gave Britain a strong upper-hand in East Asian trade; China ceded the territory of Hong Kong to Britain, expanded Britain’s permitted trade locations, and ensured proper compensation to Britain for any trade losses. Fearing Britain’s dominance in trade, the U.S. decided to establish 5 official diplomatic relations with China under the Treaty of Wangxia. The treaty ensured the United States the same trade benefits that Great Britain had attained two years earlier. As a result of economic hardship faced by the Chinese under British dominance, the United States continued to experience mass immigration from China. While China’s migrant population was highly beneficial for the U.S economy due to their low labor costs and participation in the completion of the Transcontinental Railroad, Chinese workers eventually became scapegoats for the financial crisis, or ‘Panic’ of 1873. Americans became increasingly hostile towards Chinese immigrants and which led to the Chinese Exclusion Act in 1882. The act banned new Chinese emigrants from entering the country. The Act was harmful to both the U.S. economy and the Chinese population due to the loss of a highly efficient industrial labor force. This law was continuously renewed until 1943, when it was repealed and replaced with an immigration quota of 105 visas per year. Trade between China and the U.S. from the 1850s to the 1890s remained stagnant as the United States shifted its focus to European nations that were more welcoming to American goods.
Load more

Recommended publications
  • The Future of Mobility: Scenarios for China in 2030 Ecola Et Al
    The Future of Mobility: Scenarios for China in 2030 Ecola et al. et Ecola China in 2030 for Scenarios Mobility: of Future The i THE FUTURE OF MOBILITY Scenarios for China in 2030 Liisa Ecola, Johanna Zmud, Kun Gu, Peter Phleps, Irene Feige ISBN-10 0-8330-9035-6 R ISBN-13 978-0-8330-9035-5 56000 www.rand.org RR-991-ifmo $60.00 9 780833 090355 The Future of Mobility Scenarios for China in 2030 Liisa Ecola, Johanna Zmud, Kun Gu, Peter Phleps, Irene Feige For more information on this publication, visit www.rand.org/t/rr991 As a part of the agreement under which the research described in this document was funded, RAND grants the Institute for Mobility Research a nonexclusive, royalty-free license to duplicate and distribute this publication in any medium, either commercially or noncommercially. Library of Congress Cataloging-in-Publication Data is available for this publication. ISBN: 978-0-8330-9035-5 Published by the RAND Corporation, Santa Monica, Calif. © Copyright 2015 RAND Corporation RAND® is a registered trademark. Design: Bernhard Moosbauer, exsample.org All photographs via 123rf.com Limited Print and Electronic Distribution Rights This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited. Permission is given to duplicate this document for personal use only, as long as it is unaltered and complete. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial use.
    [Show full text]
  • The Imminent Housing Collapse - Will History Repeat Itself?
    THE IMMINENT HOUSING COLLAPSE - WILL HISTORY REPEAT ITSELF? ∗ Ping-fu (Brian), LAI, DBA ∗∗ ∗∗ Ho Sum CHAN, MSc Fin Abstract Human being is not particularly good at learning from history. Either we haven't lived long enough to live through every moment of it, or we just forget what we have lived through. Today, many analysts' cranky critiques are still very bullish, and are trying hard to explain intuitively why Hong Kong property prices can't drop, and how much healthier the market is. However, a remarkably stagnant property market in terms of transaction volume, even though prices are still holding up for the time being, is far more sceptical about markets' inherent rationality. There is very little doubt that home prices are among the most expensive on earth; Demographic trend is working against the market; Economic uncertainties of U.S fiscal cliff increase; Mainland China slowdown curbs Hong Kong growth; Interest rates on the only way up; Government's moves to check speculation and the Illusion of supply shortage etc. This is the prerequisite to call anything a "bubble", and the property market in certainly meets these criteria. The purpose of this paper is to use an econometric model and descriptive statistical analysis to illustrate Hong Kong resident property prices correction is imminent today. Keywords: Housing, Property, Bubble, Resident, Hong Kong JEL Classification: F3 ∗ Assistant Professor, Division of Business and Management, United International College, Beijing Normal University Hong Kong Baptist University. ∗∗ Researcher, ABRS International Consultancy. 63 Financial Studies - 4/2014 1. Introduction General market overview - The volatility of Hong Kong property prices is world famous.
    [Show full text]
  • PET Listening-China in 2030
    CL GRANADA, S. L. C/ Puentezuelas, nº 32, 1ª Planta - 18002 Granada Teléf.: 958 53 52 53 – 958 52 12 91 Fax: 958 25 15 46 E-mail: [email protected] Web: www.clgranada.com PET LISTENING Instructions: Listen to recording about China and the US intelligence service and answer the questions. Mark the box A for true or B for false. American Intelligence Report Predicts China will be World’s Leading Economic Power by 2030 Questions: Answers 1 In 2030 the United States will be a superpower. A B 2 This document was written by government experts to help politicians make decisions. A B 3 Patrick Chovanec says the average age in China is rising because of the country’s one-child A B policy. 4 The report also says that there will be less demand on resources in the future as population A B growth continues. 5 The report says nearly half of the population will live in areas with severe water issues. A B 6 Experts believe that the USA should become less active in settling problems in the future. A B 7 Robert Kagan says that many individual states look to the USA for protection. A B 8 Robert Kagan says that one of the problems in the Syria crisis is that the USA isn’t playing A B its role. 9 The Authors of the report say their findings are not meant to predict the future. A B 10 Findings suggest that the best world possible is if all superpowers work together to solve A B world problems.
    [Show full text]
  • Bibliography
    Bibliography Acemoglu, D. et al., 2008. Income and Democracy. American Economic Review, 98(3), pp. 808–842. Aitken, C. and Keller, S., 2007. The CEO’s Role in Leading Transformation. The McKinsey Quarterly, 19–26. AlJazerra, 2009. US: Taliban has Grown Fourfold – Americas – Al Jazeera English. AlJazerra. Available at: http://www.aljazeera.com/news/ americas/2009/10/20091091814483962.html [Accessed March 28, 2012]. Allchin, J., 2010. Burma ‘Hosting India’s Greatest Security Threat’. Eurasia Review. Available at: http://www.eurasiareview.com/201008 317577/burma-hosting-indias-greatest-security-threat.html [Accessed September 2, 2010]. Altman, R., 2011. We Need not Fret Over Omnipotent Markets. FT.com. Available at: http://www.ft.com/cms/s/0/890161ac-1b69-11e1- 85f8-00144feabdc0.html#axzz1fHKcTLBn [Accessed December 2, 2011]. ANI, 2012. India Expresses Concern Over Safety of Pakistan’s Nuclear Arsenal. Yahoo! News India. Available at: http://in.news.yahoo.com/india- expresses-concern-over-safety-pakistans-nuclear-arsenal-121128219. html [Accessed March 28, 2012]. Applegate, L. and Harreld, B., 2009. Don’t Just Survive – Thrive: Leading Innovation in Good Times and Bad, Boston: Havard Business School. Arrata, P., Despierre, A. and Kumra, G., 2007. Building an Effective Change Agent Team. The McKinsey Quarterly,4,p.4. Aslund, A., 2008. 10 Reasons Why the Russian Economy will Falter. Moscow Times. Available at: http://www.themoscowtimes.com/opinion/ article/10-reasons-why-the-economy-will-falter/370643.html [Accessed March 28, 2012]. Aslund, A., 2009. Take the R Out of BRIC. Peterson Institute. Available at: http://www.piie.com/publications/opeds/oped.cfm?ResearchID=1445 &utm_source=feedburner&utm_medium=%24%7Bfeed%7D&utm_ campaign=Feed%3A+%24%7Bupdate%7D+%28%24%7BPIIE+Update %7D%29&utm_content=My+Yahoo [Accessed December 10, 2009].
    [Show full text]
  • China's Economic Environment
    China SignPost™ 洞察中国 14 March 2012 China’s Economic Environment: Implications for Military Development China SignPost™ 洞察中国–“Clear, high-impact China analysis.”© Strategic Horizon 1B: The U.S.-China relationship will be central to international relations in the twenty-first century, as the two great Asia-Pacific powers compete, coexist, and cooperate across the full spectrum of national capabilities. While they share many important interests and are increasingly interdependent, particularly in the economic realm, Beijing and Washington regrettably retain presently-irreconcilable differences regarding important security issues. While this friction can likely be managed, albeit at the cost of tremendous effort and patience on both sides, occasional crises are likely, and conflict cannot be ruled out completely if wisdom and diligence prove insufficient. The best way to avoid conflict is to understand its potential nature and cost. To that end, this four-part series will examine four major issues: China’s Near Seas military focus and capabilities China’s economic environment and implications for military development Chinese energy and resource imports and their potential to drive naval expansion China’s conflict triggers and mitigating factors, particularly economic interdependence While this series will retain China SignPost™ (洞察中国)’s traditional Sino-centric focus, it must be noted that the U.S. and its capabilities, policies, and actions clearly represent a major part of the strategic equation, and Beijing clearly has its own views
    [Show full text]
  • On the Rise of China, the Reconfiguration of Global Power, and the Collapse of the Modern Liberal Order
    ON THE RISE OF CHINA, THE RECONFIGURATION OF GLOBAL POWER, AND THE COLLAPSE OF THE MODERN LIBERAL ORDER A thesis submitted to the Kent State University Honors College in partial fulfillment of the requirements for Departmental Honors By Logan Brosius December, 2015. Thesis written by Logan Brosius Approved by _________________________________________________________________, Advisor _______________________________________________, Chair, Department of Political Science Accepted by _____________________________________________________, Dean, Honors College ii Table of Contents Acknowledgements iv Introduction 1 I. History 5 II. Contradictions 31 a. Transition After the 1990s 31 b. Contradictions 42 III. Players 56 a. The Liberals 56 b. The New Left 65 IV. The Establishment 87 a. The Chinese Establishment and Survival 88 b. Corruption and the State 95 V. The Neoliberal Order 113 a. The Context and Limits of China’s Rise 114 b. The Previous Order and Its Major Features 123 c. China, the Modern Order, and the Reconfiguration of Global Power 138 Conclusion 170 Bibliography 175 iii ACKNOWLEDGEMENTS This paper is something of a story and a testament to both my mentors and my experiences since high school graduation. As someone who grew up in a remarkably small rural town, my early intellectual development owes largely to my blissful ignorance of the astonishing labors and successes of my phenomenal parents, James and Denise Brosius. They have provided me their endless support, a place to grow, and, perhaps most importantly, grounded me from becoming hopelessly detached. Were it not for their support, I understand rather strongly what other options awaited me. My primary mentors during the course of this paper ultimately changed over time due to my own problems – something I hope dearly to have addressed.
    [Show full text]
  • Chapter 1 Section 3
    SECTION 3: GOVERNANCE AND ACCOUNTABILITY IN CHINA’S FINANCIAL SYSTEM Introduction This section provides an overview of China’s financial system, covering strains in the state banking system; the growth of the shadow banking sector and access to credit; market access issues and operational challenges for foreign financial services firms; and governance, transparency and accountability problems in China’s financial sector. It is based on witness testimonies from the Com- mission’s March 7, 2013, hearing; information from the Commis- sion’s fact-finding trips to China, Japan, and Taiwan; and addi- tional staff research. China’s Banking System and Access to Credit and Capital China’s 12th Five-Year Plan (2011–2015) calls for less depend- ence on exports and state-funded infrastructure projects and more domestic consumption to support China’s economy. This shift from government-led to private-led growth necessarily requires that Chi- nese families and private sector businesses have sufficient access to credit and capital. Private small- to medium-sized enterprises (SMEs) already contribute 60 percent of gross domestic product (GDP) and 80 percent of urban employment, according to some esti- mates.1,2 Yet bank lending, the traditional source of credit for en- trepreneurs and startups in most countries, is largely inaccessible to Chinese individuals and SMEs, because China’s financial system is dominated by large, state-owned banks that mainly service gov- ernment-directed projects and state-owned enterprises. A shadow banking system of unofficial credit has sprung up to fill the gaps left by the big banks’ lending practices, but it is largely unregu- lated, and the proliferation of shadow banking activity poses threats to the country’s financial stability.* Chinese State Banks Chinese banks hold a unique position.
    [Show full text]
  • Grandma's Mortgage
    Collier Research China Lechi Zhang Andrew Collier [email protected] 631-521-1921; 86 135 2083 8346 [email protected] Grandma’s Mortgage Who’s Paying for China’s Property Bubble? CRC asked 132 property owners in China what was their source of capital for the real estate they acquired? In addition to personal savings, most buyers borrowed funds from a complex array of third party lenders. This reliance on “friends and family” and “other” sources of capital is a form of non-bank lending that is little understood and is a potential liability in the financial system. Reliance on Non-Bank Lending. Our survey of 132 Chinese residents indicates that 80% borrow money from sources other than banks, including friends and family, to buy property. Although frequently cited as a source of stability, we believe is a potential liability that could be negative to confidence in a time of declining prices. No Savings Among Some. Among our surveyed group, 15% have acquired property with no savings as down payment, relying on bank loans, relatives and friends. This is another source of weakness in the system. Uncertainty about the Value of Property. The survey finds a marked confusion about the direction of the property market in the future, with the group equally split between forecasting rising and declining prices. Table of Contents Grandma’s Mortgage ............................. 1 Grandma’s Mortgage ii January 2011 Grandma’s Mortgage Where Does the Money Come From? China’s property market is a significant driver of GDP growth. Depending on estimates of the degree of leakage of corporate bank lending into the residential property market, property fixed asset investment accounts for a significant portion of China’s GDP.
    [Show full text]
  • Liu 202013 20Common 20Glo
    Common Global and Local Drivers of RevPAR in Asian Cities by Crocker H. Liu, Ph.D., Pamela C. Moulton, Ph.D., Cornell Hospitality Report and Daniel C. Quan, Ph.D. Vol. 13, No. 612 January May 2013 All CHR reports are available for free download, but may not be reposted, reproduced, or distributed without the express permission of the publisher Cornell Hospitality Report Vol. 13, No. 6 (May 2013) © 2013 Cornell University. This report may not be reproduced or distributed without the express permission of the publisher. Cornell Hospitality Report is produced for the benefit of the hospitality industry by The Center for Hospitality Research at Cornell University. Robert J. Kwortnik, Academic Director Jennifer Macera, Associate Director Glenn Withiam, Director of Publications Center for Hospitality Research Cornell University School of Hotel Administration 537 Statler Hall Ithaca, NY 14853 Phone: 607-255-9780 Fax: 607-254-2922 Advisory Board www.chr.cornell.edu Niklas Andréen, Group Vice President Global Hospitality & Partner Christine Lee, Senior Director, U.S. Strategy, McDonald’s Corporation Marketing, Travelport GDS Mark V. Lomanno Scott Berman ‘84, Principal, Real Estate Business Advisory Services, David Meltzer MMH ‘96, Chief Commercial Officer, Sabre Hospitality Industry Leader, Hospitality & Leisure, PricewaterhouseCoopers Solutions Raymond Bickson, Managing Director and Chief Executive Officer, Taj William F. Minnock III ‘79, Senior Vice President, Global Operations Group of Hotels, Resorts, and Palaces Deployment and Program Management, Marriott International, Inc. Michael Cascone, President and Chief Operating Officer, Forbes Travel Mike Montanari, VP, Strategic Accounts, Sales - Sales Management, Guide Schneider Electric North America Eric Danziger, President & CEO, Wyndham Hotel Group Hari Nair, Vice President of Market Management North America, Benjamin J.
    [Show full text]
  • Global Financial Crisis and the Chinese Response
    Task Force 2010 Professory Gary Hamilton Writers: Evaluator David Tang Callista Bevans Arielle Kloss Nathan Gardner Dimitar Anguelov Elizabeth Lyons Stefan Myers Nathan Snyder Kendall Smith Youn Gee Lee Tim Quijano Chris Schulz Aaron Larsen Andrew Calkins Zhi Wei Wan Editors: James Connelly Michael Grubb Student Coordinator: Justin Henning University of Washington Jackson School of International Studies Contents Acronyms . 4 Executive Summery . 5 China and a Changing Global Landscape . 11 Chapter One: Background Chapter Introduction . 19 Section 1.1 China’s Emergance as a Market Economy . 22 Section 1.2 From a Japanese to a Chinese centered Asian Production Network . 33 Section 1.3 Global Integration . 43 Chapter Two: The Financial Crisis and the Chinese Response Chapter Introduction . 58 Section 2.1 Immediate Effects in China . 68 Section 2.2 China’s Fiscal Stimulus and Implications for the Future . 76 Section 2.3 China’s Monetary Response to the Great Recession . 86 Section 2.4 China Today . 101 Chapter Three: Challenges to Continued Chinese Economic Growth Chapter Introduction . 131 Section 3.1 Structural Changes in the Chinese Economy . 133 Section 3.2 Perilous Growth . 145 Section 3.3 Political and Social Challenges . 159 Chapter Four: Lessons and Policy Considerations Chapter Introduction . 170 Section 4.1 US Economic Policy Towards China . 173 Section 4.2 US Policy towards Chinese Dimlomatic and Economic Engagement . 187 Section 4.3 Renewing America’s Economy . 196 Towards a New American Strategie . 205 List of Figures . 217 Bibliography
    [Show full text]
  • 2011 REPORT to CONGRESS of the U.S.-CHINA ECONOMIC and SECURITY REVIEW COMMISSION
    1 2011 REPORT TO CONGRESS of the U.S.-CHINA ECONOMIC AND SECURITY REVIEW COMMISSION ONE HUNDRED TWELFTH CONGRESS FIRST SESSION NOVEMBER 2011 Printed for the use of the U.S.-China Economic and Security Review Commission Available via the World Wide Web: http://www.uscc.gov U.S. GOVERNMENT PRINTING OFFICE WASHINGTON : 2011 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Nov 24 2008 13:46 Nov 10, 2011 Jkt 067464 PO 00000 Frm 00005 Fmt 5012 Sfmt 6602 G:\GSDD\USCC\2011\067464.XXX 067464 dkrause on DSKHT7XVN1PROD with $$_JOB G:\GSDD\USCC\USChina.eps U.S.-CHINA ECONOMIC AND SECURITY REVIEW COMMISSION Hon. WILLIAM A. REINSCH, Chairman DANIEL M. SLANE, Vice Chairman COMMISSIONERS CAROLYN BARTHOLOMEW JEFFREY L. FIEDLER DANIEL A. BLUMENTHAL Hon. PATRICK A. MULLOY PETER T.R. BROOKES Hon. DENNIS C. SHEA ROBIN CLEVELAND MICHAEL R. WESSEL Hon. C. RICHARD D’AMATO LARRY M. WORTZEL MICHAEL R. DANIS, Executive Director KATHLEEN J. MICHELS, Associate Director DANIEL HARTNETT, Sr. Analyst for Military–Security Issues PAUL MAGNUSSON, Sr. Analyst for Economics–Trade Issues The Commission was created on October 30, 2000, by the Floyd D. Spence National Defense Authorization Act for 2001 § 1238, Pub. L. No. 106–398, 114 STAT. 1654A–334 (2000) (codified at 22 U.S.C. § 7002 (2001), as amended by the Treasury and General Government Appropriations Act for 2002 § 645 (regarding employment status of staff) & § 648 (regarding changing annual report due date from March to June), Pub.
    [Show full text]
  • Developments in Banking and Financial Law: 2010
    2009-2010 DEVELOPMENTS IN BANKING LAW 289 DEVELOPMENTS IN BANKING AND FINANCIAL LAW: 2010 I. Fight, Flight or Acquiesence: Potential Financial Industry Responses to the Obama Bank Tax .......................................... 290 II. The ―Pay Czar‖ and Curbs on Executive Compensation ........ 302 III. Changes in Debtor-in-Possession Financing Following the Financial Collapse of 2008 ...................................................... 312 IV. Towards a Housing Equilibrium: The Obama Administration‘s Supply and Demand Initiatives in the Housing Market ........... 322 V. The China Bubble: Speculation and Implications for the U.S. Economy ........................................................................... 333 VI. Sovereign Default: A Detour on the Road to Recovery ............ 342 VII. The California Budget Crisis ................................................... 353 VIII. The AIG Bailout and AIG‘s Prospects for Repaying Government Loans ................................................................... 363 IX. Evaluating TARP ...................................................................... 372 X. Government Investment in Clean Technology.......................... 381 XI. Proprietary Trading: Market Threat or Political Scapegoat? ............................................................................... 392 290 REVIEW OF BANKING & FINANCIAL LAW Vol. 29 I. Fight, Flight or Acquiescence: Potential Financial Industry Responses to the Obama Bank Tax A. Introduction On January 14, 2010, President Obama proposed a ―Finanial
    [Show full text]