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On the similarities and differences of the Japan-US strategic trade policy

Author: WeiZhi From: www.yourpaper.net Posted: 2010-06-27 01:47:33 Read:
[Abstract] Strategic Trade Policy provides a new basis for government intervention, Japan and the United States are an example of successful implementation of the Strategic Trade Policy. In the implementation of the background, features, and means there is a difference in the details, but the two countries' strategic trade policy has the same core goals and strategies advocated, and have gained huge economic benefits.
[Key words] Strategic Trade Policy; transfer of profits; external economic; Japan;
, Japan and the United States to implement the theory of strategic trade policy based on

Strategic trade policy, economies of scale and imperfect competition in the market, a government with the tariffs, export subsidies, science and technology R & D subsidies to support the country's strategic industries, to enhance the international competitiveness of the industry and improve the domestic enterprises strategic position to expand the international market share of the export product, the more excess profits into the country, thereby increasing the general term for a series of measures of national welfare level measures.
Strategic Trade Policy, including the transfer of profits "and" external economy "two branches. Profit transfer theory there is excess monopoly profits in the international market, a country's policies to lure foreign enterprises to cut production or expand slower, domestic enterprises will benefit. Transfer of profits has three forms: (1) the use of tariffs to extract monopoly profits of foreign companies; (2) to promote the export of domestic enterprises to export subsidies; (3) to promote export import protection. External economic theory refers to the part of individuals or businesses from other individuals or enterprises engaged in some economic activity where the benefits arising from. Due to the the technology spillover presence of, a government response to the technology R & D subsidies, in order to mobilize the innovation and R & D enthusiasm. External economy is divided into the technical external economic and monetary external economic: Technical external economic enterprise skills and knowledge from the industry or related industries, technology spillover and "learning by doing" (Learning-by-doing); currency external economic refers to the enterprise market from the industry or related industries agglomeration economies of scale (such as the supply of raw materials, skilled workers, professional services, etc.).
Strategic trade policy theory suggests that economies of scale and imperfect competition conditions, free trade is not optimal, moderate government intervention can change their existing pattern of comparative advantage, thus speeding up to build the country's competitive advantage.

Second, the Japan-US strategic trade policy implementation of the similarities and differences of the background

The theoretical system of strategic trade policy is built up after the 1980s, but the application and practice of strategic trade policy in Japan as early as in the 1950s began, strategic trade policy in the United States until the 1980s mid-horizon, and to the full implementation during the Clinton Administration.
(A) the implementation of the strategic trade policy background. From the early post-war period to the mid-1980s, through the implementation of the Strategic Trade Policy "trading nation" as the core, the rapid completion of the process of industrialization, and leapt to the ranks of developed countries. Japan's trade Country Strategy mainly because of the following considerations:
A lack of natural resources, population pressure is heavy. Japan through trade and investment to participate in the international division of labor, give full play to advantages in human resources, vigorously develop the processing trade, so as to avoid weaknesses and continue to create and establish a new comparative advantage.
(2) the size of the domestic market. The Japanese domestic market capacity is limited, the lack of effective domestic demand, it is necessary to implement the export-oriented economic development strategy, with the help of external demand to stimulate economic growth.
Catch up with Europe and the United States national dream. Early post-war Japan to pitch in, will rebuild their homes, to catch up with Europe and the United States as a the overriding core mission, the people wholeheartedly obey government arrangements, without taking into account the interests of the individual in exchange for the development of the national economy. This created a favorable domestic environment for the implementation of the Strategic Trade Policy.
Favorable external environment. For the needs of the Cold War, the United States win over Japan to become its political allies. In addition to large quantities of supplies and military orders, the unilateralism of the United States to Japan to take a tolerant attitude. A favorable international environment for the implementation of the Strategic Trade Policy in Japan has created an opportunity.
(B) the implementation of the strategic trade policy background. Consistently advocated a free market economy, but when the national interest is facing enormous challenges, the United States chose dirigisme, the implementation of its strategic trade policy based on the following reasons:
Trade deficit continues to expand. Since the late 1970s, the U.S. trade deficit is rising. U.S. government through the "fair trade" against foreign acts of unfair competition.
Decline in industrial competitiveness. Since the first oil crisis, the industrial structure of the United States there have been signs of softening: the international competitiveness of the traditional manufacturing industry dropped significantly, while the international competitiveness of high-tech industry and services increased significantly. This is the crossroads of change. The United States either choose to trade protection, either substantive adjusted. In view of the dangers of protectionism, the Clinton administration chose the strategic high-tech products export-oriented trade policy.
The changing international environment. The United States after the war to become the undisputed "superpower" has the absolute rule of force in all aspects of economic, military, science and technology, the United States actively promote and implement the policy of free trade. Political, unilateral trade liberalization in the United States to win over allies political candy ": allies generously opening up the domestic market, without demanding that the allies open. However, with the emergence of a series of events in the decline of hegemony, the rise of Japan and Europe, the United States does not want to also unable to continue to provide international public goods like free trade. With the end of the Cold War, the threat of the Eastern bloc greatly weakened, the United States turned to the economic interests ahead of the first foreign affairs, changes in trade policy concept, the implementation of "fair, positive" strategic trade policy.
Overall, the strategic trade policy is the product of history, strategic trade policy in Japan and the United States in the context of both similar, but differentiated: the implementation of policies, both domestic needs of economic development, and is response to changes in the international environment.

Third, the Japan-US common effect of the implementation of the strategic trade policy

Japan from the post-war ruins of growth for the world's second largest economy, the United States in the 1990s the "new economy" boom, which are inextricably linked with the strategic trade policy, the combined effect of the three.
(A) promote the development of foreign trade. Japan in the post-war developed countries the highest export growth, import and export share of world total imports and exports soared: 1.6% in 1950, 1.4% in 1970, 6.2%, 6.7%, and 6.8% in 1988, 9.9%. Since the 1960s, Japan began a sustained trade surplus, the current account rising percentage of GDP, Japan breakthrough in 1985, the foreign assets of $ 00 billion. From a structural point of view, Japan's export commodities shift to a higher level: labor-intensive products from the 1950s to the 1960s and 1970s, mainly in the steel, automobile capital and technology-intensive products to the 1980s and 1990s to the micro- electronics, new materials technology-based, knowledge-intensive products.
Since the 1970s, the U.S. current account deficit continues to expand, but exports to the United States showed the main structure of the high value-added goods: high-tech products exports increased from $ 01.6 billion in 1991 to $ 27.4 billion in 2000; new trade in services (such as the rapid development of telecommunications, data processing), the share of trade in services in 1998 accounted for 55.1%, in 1997 the United States from foreign royalties and license fee income approximately $ 30.3 billion, a favorable balance up to $ 22.8 billion.
(B) to promote economic growth. According to Keynes, exports can make up for the lack of effective domestic demand caused by the diminishing marginal returns. Japan as a large processing of trade, expansion of exports is an important way to maintain its economic growth, according to statistics: in 1975, the entire industrial sector in Japan each increased 1 unit of exports will be driven by domestic production increase of 2.38 units; in 1979, the Japanese car exports each additional one million yen will lead to increased domestic production of 2.54 million yen. In trade, led by Japan's GDP accounted for the proportion of the total world economy rocketed: 1% in 1950, 6% in 1970, 14.2% in 1988.
The United States is a country with extensive resources, a huge capacity of the domestic market, consumption is the most important factor in economic growth, foreign trade in GDP, the relatively small proportion. But since the 1980s, the United States trade dependence increased steadily: the export dependence climbed from 6.03% in 1981, 8.5% in 1991 to 15.03% in 2000; increasingly significant contribution of trade to the U.S. economy. In the promotion of trade, the U.S. economy continued to grow: 1990s U.S. export growth rate of 9.68%, much higher than the GDP growth rate of 3.25%; export growth not only provides a way out of the remaining products in the United States, but also created a lot of the jobs: According to the estimates of the Ministry of Commerce, the United States exports $ 1 billion to maintain 20,000 jobs.
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