Open AccessUS-CHINA TRADE WAR: IMPACT ON GLOBAL ECONOMY AND IMPLICATION FOR UKRAINE
Author(s) -
Oleksandr Rogach,
Oleksandr Pidchosa,
Andrii Buz
Publication year - 2021
Publication title -
vìsnik odesʹkogo nacìonalʹnogo unìversitetu. ekonomìka
Language(s) - English
Resource type - Journals
eISSN - 2664-696X
pISSN - 2304-0920
DOI - 10.32782/2304-0920/4-89-2
Subject(s) - china , trade war , ukrainian , international trade , economics , international economics , chinese economy , world economy , economic integration , value (mathematics) , political science , philosophy , linguistics , machine learning , computer science , law
The article analyzes the economic causes and consequences of the trade and economic war between the USA and PRC. The authors note that the trade war provoked the effects of trade reorientation and the emergence of beneficiaries among third countries, but, due to the transfer mechanism of global value chains, the losses to the world economy can largely overlap the overall short-term gain from such trade substitution. Particular attention is paid to the impact of the trade and economic war between the USA and PRC on the Ukrainian economy. It is substantiated that Ukraine has also acquired certain export opportunities due to a decrease in the American share in the Chinese market. So, the extremely dynamic growth of Ukrainian exports to China, which has been observed in recent years, testifies to the above effect of reorientation and replacement of trade flows.