Open AccessUKRAINIAN BUSINESS UNDER THE CONDITIONS OF WORD TRADE WARS: OBSERVER, PARTICIPANT OR VICTIM?
Author(s) -
Sun Bai,
Nataliya Dyeyeva,
Tetyana Melnyk,
Kateryna Puhachevska
Publication year - 2021
Publication title -
fìnansovo-kreditna dìâlʹnìstʹ: problemi teorìì̈ ta praktiki
Language(s) - English
Resource type - Journals
eISSN - 2310-8770
pISSN - 2306-4994
DOI - 10.18371/fcaptp.v1i36.228113
Subject(s) - protectionism , trade war , international trade , balance of trade , ukrainian , china , trade barrier , sanctions , bilateral trade , economics , commercial policy , free trade , economic integration , political science , international economics , law , linguistics , philosophy
. We focused our attention on the causes of the current trade war between the United States and China. The article analyzes the influence of electoral processes in the USA on the choice between free trade and protectionism. The relationship between China’s accession to the WTO, mutually beneficial cooperation with the United States, and trends in the trade balance between major trading partners have been determined. The article illustrates the main mutual claims between the United States and China, which led to the outbreak of «the largest trade war in economic history». We determined the main stages of the conduct of «military operations» and characterized the directions of the conflict escalation. The attention is focused on the losses in the trade war; the main beneficiaries from the «trade disagreements» were identified. We proposed an alternative opinion on the real consequences of the trade war for the warring parties. The article studies the impact of trade wars on world GDP and the national economies of the largest countries of the world. Attention is focused on the existence of «phantom trade» for finding the way out of sanctions and tariffs. The role of Ukrainian business in trade wars is examined in detail. We analyzed the main trade wars Ukrainian enterprises are involved in and possible results for the business. The article gives the author’s vision of the impact of the trade war on the trade balance between Ukraine and the key participants in the trade war: the United States and China. We concluded which branches of the Ukrainian industry are in priority for developing trade relations with China. The article highlights the main barriers to the development of trade with the United States and the reasons for the decline in the export of Ukrainian goods. We predicted how the improvement in relations between the United States and China will affect the role of Ukrainian business in the context of world trade wars.Keywords: trade wars, export, import, protectionism, free trade, trade balance, trade deficit, import duties, sanctions, tariffs, duties, phantom trade, preferences.Formulas: 0; fig.: 0; tabl: 0; bibl.: 38.