Bài tập nhóm America face with globalization môn Tiếng Anh pháp lí | Trường Đại học Luật Hà Nội

lOMoAR cPSD| 58412604 MINISTRY OF JUSTICE HANOI LAW UNIVERSITY ------------ BÀI TẬP NHÓM GROUP EXERCISE
SUBJECT: LEGAL ENGLISH 02 CLASS : 4825 GROUP : 06 lOMoAR cPSD| 58412604
GROUP WORKING MINUTES AND DETERMINATION OF THE LEVEL
OF PARTICIPATION IN GROUP EXERCISES
Subject: Legal English 02
Member: 04 Class: 4825 Group: 06
Topic: The role of the head of state in economic affairs, namely the United States
and China and their strategic responses to the challenges of deglobalization. I/ MEETING DETAILS
Meeting facilitator: Tran Thao Nguyen Huong Date: October 10, 2024 Time: 22:00 PM II/ ATTENDEES
All members of group 06 III/ CONTENT
- Meeting to discuss and agree on the topic of group exercises.
- Develop a general outline for the agreed topic. - Assign work. IV/ EVALUATION
Level of individual participation in group exercises: Present: 04 Absence: 0 STT STUDENT FULL NAME Student Student Teacher rating ID reviews sign Scores Letter points 1 482528 Trần Thảo Nguyên Hương 2 482527 Phạm Lan Hương 3 482530 Đinh Gia Khánh 4 482536 Nguyễn Thuỳ Linh
Hanoi, October 10th, 2024 Leader INTRODUCTION
In the present world scenario characterized more by economic instability and
decoupling, the influence of presidents and prime ministers on economic policies
has assumed greater significance. This essay analyzes the role of the head of state in
economic matters, particularly in the United States, involves strategic responses to
the challenges posed by deglobalization and promote their respective state interests. lOMoAR cPSD| 58412604
BODY I/ Overview of the changing global economic landscape 1. Changing
global economic landscape 1.1. Definition
The Global Economic Landscape refers to the interconnected network of economic
systems, trade relationships, and financial markets that shape the world economy.
Changing Economic World refers to the dynamic nature of global economies and
how they evolve over time due to various factors such as technological
advancements, shifts in political power, population changes, environmental impacts,
and evolving cultural practices. 1.2. Overview
In the constantly changing world economy, 2024 seems to be a year full of important
difficulties and revolutionary developments. A complicated economic situation
marked by ongoing inflation, changing monetary policies, and dynamic market
patterns has been brought about by the aftermath of a worldwide epidemic,
geopolitical changes, and technology breakthroughs. This time frame is noteworthy
as a pivotal moment in the development of long-term economic strategy as well as
in terms of urgent budgetary reactions.
II/ Role of the head of states in economic affairs, diplomatic 2. Head of State 2.1. Definition
A head of state (or chief of state) is the public persona of a state or sovereign
state. The specific naming of the head of state depends on the country's form of
government and separation of powers; the head of state may be a ceremonial
figurehead or concurrently the head of government and more.
In a parliamentary system, such as India or the United Kingdom, the head of
state usually has mostly ceremonial powers, with a separate head of government.
However, in some parliamentary systems, like South Africa, there is an executive
president that is both head of state and head of government. Likewise, in some
parliamentary systems the head of state is not the head of government, but still has
significant powers, for example Morocco. In contrast, a semi-presidential system,
such as France, has both heads of state and government as the de facto leaders of the
nation. In presidential systems, the head of state is also the head of government. In
one-party ruling communist states, such as China or Vietnam, the position of
president has no tangible powers by itself; however, since such a head of state, as a
matter of custom, simultaneously holds the post of General Secretary of the
Communist Party, they are the executive leader with their powers deriving from their
status of being the party leader, rather than the office of president.
2.2. The role of the head of state 2.2.1. Symbolic role
One of the most important roles of the modern head of state is being a living national symbol of the state. lOMoAR cPSD| 58412604
Heads of state often greet important foreign visitors, particularly visiting
heads of state. They assume a host role during a state visit, and the programme may
feature playing of the national anthems by a military band, inspection of military
troops, official exchange of gifts, and attending a state dinner at the official residence
of the host. At home, heads of state are expected to render lustre to various occasions 2.2.2. Executive role
In the majority of states, whether republics or monarchies, executive authority
is vested, at least notionally, in the head of state. In presidential systems the head of
state is the actual, de facto chief executive officer. Under parliamentary systems the
executive authority is exercised by the head of state, but in practice is done so on the
advice of the cabinet of ministers.
2.2.3. Legislative roles
Most countries require that all bills passed by the house or houses of the
legislature be signed into law by the head of state. In most parliamentary systems,
the head of state cannot refuse to sign a bill, and, in granting a bill their assent,
indicate that it was passed in accordance with the correct procedures.
In some parliamentary systems, the head of state retains certain discretionary
powers in relation to bills to be exercised. They may have authority to veto a bill
until the houses of the legislature have reconsidered it, and approved it a second
time; reserve a bill to be signed later, or suspend it indefinitely (generally in states
with royal prerogative; this power is rarely used); refer a bill to the courts to test its
constitutionality; refer a bill to the people in a referendum.
If the head of state also serves as the chief executive, the head of state can
politically control the necessary executive measures without which a proclaimed law
can remain dead letter, sometimes for years or even forever.
2.2.4. Summoning and dissolving the legislature
A head of state is often empowered to summon and dissolve the country's
legislature. In most parliamentary systems, this is often done on the advice of the
head of government. In some parliamentary systems, and in some presidential
systems, however, the head of state may do so on their own initiative.
Other prerogatives such as granting titles and honors, immunity… III/
The role of the US head of states in economic affairs
3.1. Historical Evolution of U.S Economic Power
Over the years, the president's share of the U.S. economy has grown, just as
America has transformed from an agricultural nation to a manufacturing and modern
technology nation. Originally an agricultural and commercial nation, the economy
rapidly became commercialized in the 19th century and was considered a major
industry by the end of the 19th century. During this century, Americans experienced
government assistance through the New Deal as a source of security to cope with the lOMoAR cPSD| 58412604
hardships of the Great Depression. After World War II, many saw the American
economy growing and emerging as a major world power. In the late 20th and early
21st centuries, the economy transformed into a service economy, particularly the
technology industry, the global economy of enterprise and technology.
3.2. Constitutional Powers and Limitations
Presidential Tariff Power
Congress has passed legislation that would give the President a tax break,
posing a real threat that the nation's legislative and judicial branches will not be able
to stop future presidents' abuses.
Under Section 232 of the Trade Expansion Act of 19621, this law states that
the president can raise import tariffs that threaten national security. Section 232
allows the President to implement these tariffs without the approval of Congress,
following an investigation by the Department of Commerce
Article I, Section 82 of the United States Constitution gives Congress the
power to "impose taxes, duties, imposts, and excises" and to regulate international
trade. In the United States, from its founding until the height of the Great Depression,
tariff levels were set by legislation passed by Congress. Such tariffs began as a low
price to save the country money but eventually became a way to ward off foreign
competition. Most nominal tariffs in the country are now associated with the current
Congress, and the president has taken a liberal stance on foreign trade policies.
The Smoot-Hawley Tariff of 1930 was the most significant trade policy signed
by President Herbert Hoover. It ignored the advice of economists and caused the
worst inflation in history, devastating the U.S. economy and international relations.
The bill also addressed Congress's inability to set tax rates, which often favored local governments.
Thus, from 1934 to the present, Congress has left much of the work to the
president, thinking that it would not be subject to special control. These measures
have played a significant role in international trade for over 85 years and have
prevented further and greater inflation.
But the election of Donald Trump in 2016 reversed this. After taking office,
President Trump used the powers granted by Congress to take a series of illegal
actions that changed U.S. international trade policy. Most notably, Trump imposed
national security tariffs on steel and aluminum imports from nearly all countries,
1 https://crsreports.congress.gov/product/pdf/IF/IF10667
2 “The Congress shall have Power To lay and col ect Taxes, Duties, Imposts and Excises, to pay the
Debts and provide for the common Defence and general Welfare of the United States; but all Duties,
Imposts and Excises shall be uniform throughout the United States; . . .” lOMoAR cPSD| 58412604
including longtime allies, and reduced more than half of all products from China, the
largest importer of the U.S. at the time.
President Joe Biden has continued many of the trade and import policies
adopted by Trump during his presidency, such as imposing tariffs on Chinese imports
and issuing executive orders to Congress to regulate imports. He has said he is
prepared to impose increased protectionism through 2024, proposing tariffs of 10%
to 20% on all imported goods, including a 60% tariff on goods from China, and that he could do without Congress.
International economists who support free trade tend to blame the tariffs for
their negative impact on the U.S. economy and international relations, but other
experts have written that these provisions should not be subject to legal and practical restrictions.
Other laws of the United States discussed in this section allow the president
to levy tariffs on virtually any imported products without significant procedural or
institutional protection from abuse, including International Emergency Economic
Powers Act of 1977, Section 232 of the Trade Expansion Act of 1962, Section 301
of the Trade Act of 1974, Section 338 of the Tariff Act of 1930 and Section 122 of the Trade Act of 1974.
One can reasonably argue that Congress did not intend for a president to use
these laws as Donald Trump is now promising, but their broad and ambiguous
language could let a future president plausibly claim otherwise.
Negotiating international trade agreements
The United States Constitution grants Congress the authority to regulate
foreign trade and impose tariffs. Since the 1930s, Congress has given the president
the authority to negotiate trade agreements and announce changes to U.S. tariffs,
known as trade announcements (TPAs). For example, Section 103(a) of the
Bipartisan Congressional Trade Priorities and Responsibilities Act of 2015 (TPA-
2015)3 allows the President to reduce "tariffs from other import restrictions as the
President requires" by entering into trade agreements with foreign countries. It
makes the Foreign Trade of the United States "burdensome and obstructive" and
announces changes to U.S. tariffs without further action by Congress. In December
2020, President Donald Trump used his executive authority under Section 103(a) of
the TPA-2015 to exercise his trade agreement with the European Union, including a
tariff barrier-free trade agreement on certain prepared foods, certain crystal glass,
surface materials, electronic products, electronic products, and light goods, etc. It
includes tariff reductions on 11 tariff lines, including. Discounts are based on the
most popular in the country and are available through August 1, 2020.
3 Trade Promotion Authority (TPA): Frequently Asked Questions lOMoAR cPSD| 58412604
The president's authority over U.S. trade law dates back to the RTAA of 1934,
which allowed the president to negotiate tariff reductions among many parties
without requiring additional approval. This change took power away from Congress,
which had exclusive control over taxes, and led to very unfortunate consequences
such as the Smoot-Hawley Act of 1930, which led to high taxes. The executive is
valued for his ability to negotiate business deals. The Trade Act of 1974 and later the
Trade Promotion Act implemented trade policy and created today's economy with little support.
This is a historic change that paved the way for the administration to take
control of U.S. trade policy. The RTAA’s measures to reduce taxes and promote trade
have led to further legislation;
Congress expanded the president's authority over trade through the Trade
Expansion Act of 19624 and the Trade Act of 19745 . A trade agreement must be
approved or rejected but cannot be changed. Fast-track approval means U.S.
negotiators have more power in trade negotiations because it assures foreign partners
that Congress will not change the agreement.
Congress recently re-enacted the President’s Trade Agreement (TPA) in 2015,
which gave the president the authority to negotiate trade agreements such as NAFTA
and its successor, the USMCA. While Congress has the authority to approve these
agreements, the TPA strengthens the president’s role in setting trade policy. Other
laws also allow the president to levy tariffs under certain conditions. Section 232 of
the 1962 Consumer Protection Act allows the president to impose tariffs on products
he deems a threat to national security, a policy Trump has used to justify tariffs on
steel and aluminum. Another source is Section 301 of the 1974 Trade Act, which
Trump used in the US-China war, allowing tariffs to combat unfair practices in international relations.
Managing foreign economic relations
The president's authority in foreign affairs, as in all areas, derives from Section
2 Article II of the Constitution6. The Constitution authorizes the president to make
treaties and appoint a president with the advice and consent of the Senate (Treaties
require the approval of two-thirds of the senators present. The appointment must be
approved by a simple majority.)
4 To promote the general welfare, foreign policy, and security of the United States through international
trade agreements and through adjustment assistance to domestic industry, agriculture, and labor, and for other purposes.
5 To promote the development of an open, nondiscriminatory, and fair world economic system, to
stimulate fair and free competition between the United States and foreign nations, to foster the economic
growth of, and full employment in, the United States, and for other purposes.
6 U.S. Constitution - Article II | Resources | Constitution Annotated | Congress.gov | Library of Congress lOMoAR cPSD| 58412604
The President also relies on other regulations to support his foreign policy,
especially those providing for the role of "power management" and "Chief of the
Army and Navy". From these words derive various powers of influence or
"intervention". For example, the authority to appoint and receive representatives who
will assume an important role in recognizing foreign governments and establishing
good relations with other countries. The Governor's Decree authorizes the use of the
army and the collection of intelligence abroad.
The president also exercises legislative authority. Congress has passed
legislation giving the executive branch additional authority to deal with specific
foreign affairs. For example, the International Emergency Economic Powers Act
(1977) allows the president to impose economic sanctions on foreign entities.
Specifically, two Supreme Court decisions in United States v. Curtiss-Wright Export
Corporation (1936) and Youngstown Sheet & Tube Company v. Sawyer (1952)—
are touchstones. Youngstown is often described by legal scholars as a bookend to
Curtiss-Wright since the latter recognizes broad executive authority, whereas the
former describes limits on it. Youngstown Judge Robert Jackson's three-step system
for evaluating presidential authority generally states: "When the president acts
pursuant to an express or implied authorization of Congress, his authority is at its
maximum, for it includes all that he possesses in his own right plus all that Congress
can delegate. When the president acts in the absence of either a congressional grant
or denial of authority, he can only rely upon his independent powers, but there is a
zone of twilight in which he and Congress may have concurrent authority, or in
which its distribution is uncertain. When the president takes measures incompatible
with the expressed or implied will of Congress, his power is at its lowest ebb."
IV/ Degloblization and the US’s strategic responses to the challenges of deglobalization. 4.1.Deglobalization 4.1.1. Definition
According to Wikipedia, Deglobalization (deglobalisation) is the process of
diminishing interdependence and integration between certain units around the world, typically nation-states.
It is widely used to describe the periods of history when economic trade and
investment between countries decline. It stands in contrast to globalization, in which
units become increasingly integrated over time, and generally spans the time
between periods of globalization.
Straightforwardly, globalization can be seen as the world shrinking in size as
it becomes easier to interact with those far away. The creation of the internet
skyrocketed this effect by allowing for near-immediate communication, banking,
and travel between countries. An example of this can be seen in the UN, wherein a
multitude of nations within the larger European continent allow their citizens to
move between countries with relative ease. By contrast, deglobalization can be lOMoAR cPSD| 58412604
defined as the process of reverting back to more localized economies and attempts
at self-sufficiency. This means that people, businesses, and governments are
becoming less reliant on other countries or regions for goods and services in an
attempt to reduce vulnerabilities. It also leads to an increase in protectionist policies,
such as tariffs or quotas on imported goods, which make it harder for foreign
products to enter a market whose ultimate goal is to support and emphasize domestic industrial growth.
Although, as of today, Pinelopi Goldberg - the Elihu Professor of
Economics and global affairs and an affiliate of the Economic Growth Center at
Yale University once said in a conversation on the Brookings Podcast on Economic
Activity: “...we look at capital flows, we look at stock of immigrants. We think that
all these metrics tell the same story, namely that we had a slowdown of globalization,
but not really a reversal of trend.”
“From different metrics, provided data for different countries, different groups
of countries, different sub periods. Overall, there is a very clear picture that emerges
from the empirical analysis. Namely, there is a slowdown, but not necessarily a
reversal.” said prof. Goldberg.
4.1.2. History of Deglobalization
The term of deglobalization has derived from some of the very profound
changes in many developed nations, where trade as a proportion of total economic
activity until the 1970s was below previous peak levels in the early 1910s.
This decline reflects that their economies become less integrated with the rest
of the world's economies in spite of the deepening scope of economic globalization.
At the global level only two longer periods of deglobalization occurred, namely in
the 1930s during the Great Depression and 2010s, when following the Great Trade
Collapse the period of the World Trade Slowdown set in.
The rise of globalization was never entirely smooth or assured. The reduction of
global trade that was bookended by the two world wars was followed by 60 years of
increased globalization. This included the hyper-globalization period from 1990 to 2008.
The 2008 financial crisis, trade wars, disenfranchised middle classes in developed
economies and rising concerns about over-reliance on trade with single partners led
to a period of relatively stagnant "slowbalisation".
In the 2010s, political institutions were just as significant, but now democratic
decisions such as the election of President Trump with an America First agenda and
Brexit drive the deglobalization process worldwide.
Today, "slowbalisation" appears to be moving towards deglobalisation.
Recent disruptions to global value chains such as the COVID-19 pandemic, the war lOMoAR cPSD| 58412604
in Ukraine, growing ideological differences and the green transition have prompted
governments and corporations to reconsider external dependencies.
In addition, Increasingly policy makers struggle to articulate an appropriate
balance between global and local solutions. How much should international trade in
goods and services be curbed or facilitated? How can the global climate change
challenge be met by competing, sometimes hostile nations? How is migration to be
managed and its push factors adequately addressed? How are wars and conflict to be
managed? To what extent should responses to health emergencies be dealt with by
international organizations? This effect on the political imagination inevitably has a
knock-on effect on the trade and financial flows that underpin global trade,
weakening confidence in the safety of international investments.
4.1.3. Risks of deglobalization
Typically a reduction of the level of international integration of economies
and the world economy at large are expected to exert second round effects related to four feedback mechanisms:
A reduction of (the rate of growth) of international trade will feed negatively into long-run growth.
A loss of interaction, the co-movement of economies.
Trade policy feedbacks in the sense that reduced international interaction and
lower growth will stimulate protectionism and non-economic issue areas where
reduced cooperation among countries and even an increasing risk of international conflict can be expected.
4.2. The US/US president’s strategic responses to the challenges of deglobalization
In order to reduce economic entanglement on other nations, or
deglobalization, the United States has adopted a number of important policies to
safeguard its own interests and sectors of the economy. The United States is
managing this trend in the following key ways: Climate change
Key actions include rejoining the Paris Agreement, committing $11.4 billion
annually for climate finance. The president (Biden) declared America's rejoinder to
the Paris Climate Agreement on his first day in office. A week later, he signed a
comprehensive executive order to hasten the US economy's decarbonization and
reach net zero emissions by 2050. Global health
In global health by investing $2 billion in COVAX to support equitable vaccine
distribution. Biden’s top short-term policy priority is defeating COVID-19. Nuclear weapon lOMoAR cPSD| 58412604
The US president has also indicated his intention to devalue nuclear weapons in US
defense strategy and taken steps to resurrect US arms control and nonproliferation initiatives.
Biden also emphasizes security alliances, with partnerships like AUKUS and the
Quad to counter Indo-Pacific threats, and increased NATO commitments. Domestically, Global Supply Chain
Biden faces polarization that challenges U.S. global reliability, yet his administration
actively works to restore confidence and foster international cooperation.
In an effort to recruit, develop, and retain talent in this vital industry, more than 120
new trucking companies have implemented Registered Apprenticeship programs.
The Global Supply Chain Pressure Index of the New York Fed has cooled from its
highest point ever. Alongside this, there has been an unprecedented spike in East-
West ocean transportation rates, which have dropped by around 90% since their peak
in September 2021, and a 30% decline in gas prices from their peak in summer 2022.
Furthermore, since its high in February 2022, annual core goods inflation has decreased by more than 65%.
The normalization of supply chains seems to be bringing down costs for
commodities, which lowers inflation for consumers, companies, and families,
according to a blog post published today by the White House Council of Economic Advisers.
President Biden signed Executive Order (E.O.) 14017, “America’s Supply
Chains,”directing the federal government to conduct a first-of-its-kind, extensive
100-day review of the supply chains of four vital products: pharmaceuticals and
active pharmaceutical ingredients; large capacity batteries; semiconductors; and
critical minerals and materials in order to identify vulnerabilities, evaluate risks, and
create resilience-promoting strategies.
The results of the 100-day assessment have been implemented with notable success two years later.
Technological Self-Sufficiency
The U.S. is prioritizing self-sufficiency in key technology areas, such as
semiconductors, where global reliance on single-source providers has become a
concern. For example, the CHIPS Act has allocated billions to support
semiconductor production within the U.S.
In August 2022, President Biden signed into legislation the CHIPS and Science Act,
which will give semiconductor companies. It will provide $52.7 billion over five lOMoAR cPSD| 58412604
years to semiconductor companies to support their research and development of
semiconductor chips in the United States. In order to entice businesses to engage in
domestic semiconductor manufacturing, the measure also establishes a 25% tax
credit. The U.S. government also declared export limits in October 2022 to prevent
China from developing its own chip manufacturing capacity.
Tariffs and Trade Policies
To shield local businesses from what it considers unfair trade practices, the United
States has imposed tariffs and trade restrictions in recent years, especially with
China. Reducing reliance on certain imported items and encouraging companies and
consumers to "buy American" are the goals of these tariffs. To prevent technological
transfers and shield private information from outside influence, export controls and
investment limitations on critical technologies have been extended beyond tariffs.
More than $860 billion in corporate investments have already been sparked by the
Biden-Harris Administration's Investing in America plan thanks to astute, public
incentives in forward-thinking sectors like semiconductors, clean energy, and electric vehicles (EVs).
Steel and Aluminum: The tariff rate on certain steel and aluminum products under
Section 301 will increase from 0–7.5% to 25% in 2024.
Semiconductors: The tariff rate on semiconductors will increase from 25% to 50% by 2025.
Batteries, Battery Components and Parts, and Critical Minerals: The tariff rate on
lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff
rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The
tariff rate on battery parts will increase from 7.5% to 25% in 2024. Solar Cells
The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024. Medical Products
The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For
certain personal protective equipment (PPE), including certain respirators and face
masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber
medical and surgical gloves will increase from 7.5% to 25% in 2026.
4.3. A comparison between the US/US president and the China/the
president of China’s strategic responses
These differing strategies reflect their respective political ideologies,
governance structures, and historical contexts, shaping how each country navigates lOMoAR cPSD| 58412604
the complexities of global affairs and responds to emerging threats and opportunities.
As such, a comparative analysis of their strategic responses illuminates not only the
differences in their leadership styles but also the broader implications for
international relations in an increasingly multipolar world.
Bilateral and Multilateral Agreements with Allies
United States: U.S. (Biden’s Approach): Biden’s foreign policy emphasizes
reinforcing alliances and partnerships through multilateral organizations and
agreements. He has taken significant steps to restore U.S. credibility, like rejoining
the Paris Agreement and strengthening NATO and other alliances. Biden’s
multilateral approach is geared towards counterbalancing China’s growing influence
by deepening U.S. ties in Asia, Europe, and beyond. The U.S. has intensified its
focus on forming strategic alliances, especially in the IndoPacific region, to counter China’s growing influence.
China: In contrast, "multipolar world" Expanding China's worldwide influence is
another goal of Xi's foreign policy, although it takes a multipolar stance against
coalitions led by the United States. China wants to play a major role, especially in
the Global South, by supporting infrastructural and economic development
initiatives, such as the BRI and the Global Development Initiative. China advocates
for security frameworks that emphasize sovereignty and nonintervention as
alternatives to those led by the United States. Moreover, China's foreign policy is
marked by a focus on non-alignment, advocating for cooperative engagement
without entangling alliances, allowing it to maneuver freely in global politics.
Technological Self-Sufficiency
United States (Biden’s Approach): Biden has prioritized developing technological
independence through initiatives like the CHIPS Act, designed to support
semiconductor production in the U.S. To limit China’s technological advancement,
the Biden administration has placed export restrictions on critical technology and
established tax credits for domestic manufacturing of strategic products.
China (Xi Jinping’s Approach): Xi Jinping’s approach to technological
selfsufficiency is similarly robust but focuses on countering Western restrictions by
building internal capabilities. Initiatives under the Made in China 2025 campaign
encourage technological innovation within China, with major investments in
strategic areas like 5G, AI, and green energy. The Chinese government actively
supports local firms to replace foreign technology with domestically developed
alternatives, enhancing economic resilience and reducing reliance on Western
suppliers. Similarly, China has adopted a "dual circulation" strategy, which
emphasizes developing a self-reliant domestic economy while engaging selectively with global markets lOMoAR cPSD| 58412604
Trade Policies and Tariffs
United States (Biden's Strategy): Biden's plan focuses on using multilateral accords
to reestablish American leadership in international commerce and alliances. For
instance, in order to offset Chinese influence, his government has concentrated on
fortifying alliances with friends in the Indo-Pacific area through agreements like
AUKUS and Quad. In order to safeguard American intellectual property, especially
in fields like semiconductors and cutting-edge technology, Biden has also
implemented export limits and levied taxes on specific Chinese items. His
government also seeks to establish incentives for businesses to invest locally, which
has resulted in billions of dollars in private sector investment in industries like
electric vehicles and sustainable energy.
China (The Strategy of Xi Jinping): The goal of Xi Jinping's strategy is to increase
China's influence internationally by implementing trade and investment initiatives
that circumvent the economic sway of the West. An important illustration is the Belt
and Road Initiative (BRI), which establishes economic ties and infrastructure
throughout Asia, Africa, and Europe, establishing China as a vital economic partner
for several developing countries. In the tech sector, Xi has advanced data security
regulations that support a sovereign internet and invested in local manufacturing
capabilities, especially in semiconductors, artificial intelligence, and green
technology, in response to U.S. prohibitions. Additionally, China has actively sought
to forge new trade agreements and partnerships with non-Western nations to mitigate
the impact of U.S. tariffs and sanctions V/ Future outlook
International financial organizations say that in the trend of reshaping and
operating the global supply chain in the next decade, China will still be the
manufacturing factory of the world economy. The benefits from moving production
facilities out of China are always carefully considered with the advantages of the
large manufacturing base in China. Currently, China still has outstanding market
competitiveness, efficiency of scale, infrastructure, logistics system, supporting
industrial network and skilled labor supply compared to other economies. Many
investors want to diversify production and distribution networks in Southeast Asian
countries, but there are few solutions to do so because of the limited capacity of these
countries. Foreign investors always analyze and evaluate very carefully the changes
in strategic growth opportunities when moving production facilities to other
emerging economies. In particular, investors always compare capacity factors and
input costs such as processing, labor, and transportation costs in other countries
compared to China before making plans to shift investment. lOMoAR cPSD| 58412604 CONCLUSION
In conclusion, the role of the head of state in economic affairs, particularly in
the context of the United States, is pivotal in navigating the complexities of
deglobalization. As challenges such as supply chain disruptions, rising
protectionism, and geopolitical tensions emerge, the head of state must adopt
strategic responses that balance national interests with global interdependencies.
Effective leadership involves fostering innovation, supporting domestic industries,
and engaging in diplomatic efforts to sustain international partnerships. By
proactively addressing the implications of deglobalization, the head of state can not
only mitigate economic risks but also position the nation for sustainable growth in
an increasingly fragmented global landscape.
TÀI LIỆU THAM KHẢO
1. Presidential Tariff Powers and the Need for Reform | Cato Institute
2. Who Sets Fiscal Policy—the President or Congress?
3. Economic history of the United States - Wikipedia
4. Presidential Authority to Address Tariff Barriers in Trade Agreements
5. U.S. Foreign Policy Powers: Congress and the President | Council on Foreign Relations
6. Political Risk by Deglobalization By Geopolitical Futures
7. https://cepa.org/article/chips-ahoy-new-us-semiconductor-law-bringswelcome- relief/
8. https://www.kroll.com/en/insights/publications/the-chips-and-science-act9.
https://mof.gov.vn/webcenter/portal/vclvcstc/pages_r/l/chi-tiet-tin? dDocName=MOFUCM265205