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Time to Restore a Balanced, Rules- Based Multilateral Trading System PA-167 Presented by: Ernest H. Preeg, Ph.D. Senior Advisor for International Trade.

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Presentation on theme: "Time to Restore a Balanced, Rules- Based Multilateral Trading System PA-167 Presented by: Ernest H. Preeg, Ph.D. Senior Advisor for International Trade."— Presentation transcript:

1 Time to Restore a Balanced, Rules- Based Multilateral Trading System PA-167 Presented by: Ernest H. Preeg, Ph.D. Senior Advisor for International Trade and Finance epreeg@mapi.net

2 $billions 20002014 % Increase 00/14 20002014 % Increase 00/14 World*3,5349,312163Switzerland74212186 China2202,202901India35200471 EU*7361,787143Thailand55170209 United States6501,16479Malaysia8114478 Japan45059833Turkey22121450 South Korea15549521914 Listed3,0528,168167 Mexico1393091228 Asians1,2554,363248 Singapore118291147 3 Western Europeans 8322,120155 Taiwan141263873 North Americans9651,68575 Canada17621220 Table 1 – Leading Exporters of Manufactures *EU exports to non-members, as also calculated for world, which is used throughout this study Source(s): WTO, International Trade Statistics

3 $billions 2009201409-142009201409-14 China+450+1,024+574Switzerland+29+43+14 EU+229+476+247India-9+14+23 United States-321-588-267Thailand+19+22+3 Japan+222+190-32Malaysia+16+7-9 South Korea+137+219+82Turkey+11+23+12 Mexico-16-8+814 Listed+786+1,450+664 Singapore+36+66+308 Asians+939+1,636+697 Taiwan+68+94+26 3 Western Europeans +269+542+273 Canada-85-132-473 North Americans-422-728-306 Table 2 – Trade Balances in Manufactures Source(s): WTO, International Trade Statistics

4 20092014 ExportsTrade BalanceExportsTrade Balance World800-3211,164-588 Asia205-367306-577 China44-25480-390 Japan34-5945-86 South Korea31-2632-32 Taiwan14-1320-19 India17-2616-20 Western Europe195-54239-149 EU178-51215-137 North America263+21412-18 Canada166+43238+64 Mexico102-27184-46 Rest of the World137+79207+116 Brazil23+1432+17 Russia4+190 Source(s): WTO, International Trade Statistics, and U.S. Census Bureau, FT-900 Table 3 – U.S. Trade in Manufactures by Region and Principal Trading Partner ($billions)

5 $billions 2009201409-14 EU-51-137-86 Germany-27-73-46 France+2-5-7 Italy-9-23-14 Spain+2-3-5 4 eurozone-32-104-72 United Kingdom-3+1+4 Remainder of EU-16-34-18 Table 4 – U.S. Trade in Manufactures With Principal EU Members Source(s): WTO, International Trade Statistics, and U.S. Census Bureau, FT-900

6 $billions 2009201409-14 Exports EU263378+115 United States117171+54 India64103+39 China5397+44 Trade Balances EU+67+132+65 United States+31+43+12 India+38+71+33 China+16+42+26 Table 5 – Exports and Trade Balances for Business Services Source(s): WTO, International Trade Statistics, 5.5 and 5.6

7 $billions Exports EU117 United States34 India56 China20 Trade Balances EU+53 United States+2 India+52 China+9 Table 6 – Exports and Trade Balances for Telecommunications, Computer, and Information Services, 2014 Source(s): WTO, World Trade Report

8 $billions 20142015% Change 14/15 United States Exports1,1891,149-3% Imports1,7501,799+3% Trade Balance-561-650-16% China Exports2,2282,169-3% Imports1,2301,123-9% Trade Balance+998+1,046+5% Table 7 – U.S. and Chinese Global Trade in Manufactures, 2014-2015 Source(s): U.S. Census FT-900, and Chinese Customs Statistics (Monthly Exports and Imports)

9 $billions ExportsImports Trade Balance ExportsImports Trade Balance World1,1491,799-650Germany44117-73 China82469-387France2638-12 Japan45126-81Italy1338-25 South Korea3364-31Spain710-3 Taiwan2337-14Four eurozone90203-113 India1538-23United Kingdom4446-2 Malaysia1132-21Canada218170+48 Vietnam434-30Mexico187246-59 Seven Asians213800-587NAFTA405416-11 Three TPP60192-132 Table 8 – U.S. Bilateral Trade in Manufactures, 2015 Source(s): U.S. Census, FT-900

10 ExportsTrade Balance U.S.ChinaU.S.China Medicines and pharmaceutical products5314-36-7 Power generating machinery and equipment4136-26+15 Machinery specialized for particular Industries4938-4+3 General industrial machinery and equipment75101-18+55 Office and data processing equipment47190-70+140 Telecommunications and sound recording53296-106+224 Electrical machinery and appliances113287-51-62 Road vehicles12369-1520 Other transport equipment13837+98+8 Professional and scientific instruments6058+8-22 Ten-industry total*7521,126-357+354 *SITC 54, 71-72, 74-79, 87 Source(s): U.S. Census Bureau FT-900, and China’s Customs Statistics (Monthly Exports and Imports) Table 9 – U.S. and Chinese Exports of High-Technology Industries, 2015 ($billions)

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