China’s industrial subsidies: What can be done?
Hosted by the Yeutter Institute of International Trade and Finance
16 September 2020 | 8:30 am CDT
The Chinese state's industrial subsidies and the overarching role of the government in the economy is at the core of US-China trade tensions, and have presented a huge challenge to the existing global trading system as China's economic power continue to expand. Two experts, including our Research Fellow Stephen Olson, will outline the difficulties in addressing this issue and what role international institutions could play.
Chinese government subsidies to favored industries and the role of state-owned enterprises, along with the overarching role of the state in the Chinese economy, are at the core of US-China trade tensions and are not addressed in the US-China phase one trade deal, signed in January 2020.
Kelly Ann Shaw of Hogan Lovells and Stephen Olson of the Hinrich Foundation will walk through these challenges and ongoing efforts to address them through the World Trade Organization and other forums, including a joint statement issued in January 2020 by the US, EU and Japan calling for improved subsidy disciplines within the WTO.
TradeVistas' Editor-in-Chief, Andrea Durkin, will be moderating this session.
Two experts will discuss the challenges posed by Chinese economic policies on the current global trading system.
Research Fellow, Hinrich Foundation
Mr. Olson began his career in Washington DC as an international trade negotiator and served on the US negotiating team for the NAFTA negotiations.
He subsequently became president of the Hong Kong-based Pacific Basin Economic Council, and vice-chairman of Cairo-based ARTOC Group for investment and development. He is also a visiting scholar at the Hong Kong University of Science and Technology. He has a master’s degree in international relations from the Johns Hopkins School of Advanced International Studies and a B.A. from the State University of New York.
Kelly Ann Shaw
Partner, Hogan Lovells
Kelly Ann Shaw, former Deputy Assistant to the President for International Economic Affairs and Deputy Director of the National Economic Council, brings to bear a deep knowledge of US international trade, investment, and economic law and policy drawn from her extensive public service at the White House, the Office of the US Trade Representative (USTR), and the Ways and Means Committee in the US Congress.
In her White House role, serving on both the National Security Council and National Economic Council, Kelly Ann led the Office of International Economic Affairs and played an instrumental role in a wide range of legislation, negotiations, and agreements, including the US-Mexico-Canada Agreement (USMCA) and the China Phase One agreement. As a senior adviser to the president on matters of international economic policy, including trade, investment, development, global economics, energy, and the environment, she was directly involved in almost every major economic decision made at the Trump White House.
Kelly Ann also as served as lead US negotiator at the G7, G20, and APEC and led the US-UK Economic Working Group. As Republican Trade Counsel for the Committee on Ways and Means, Kelly Ann played an important role in formulating US international trade and investment law, policy, and strategy. In her role as Assistant General Counsel for USTR based in Geneva, Switzerland, and Washington, DC, she represented the United States in more than 40 World Trade Organization (WTO) disputes and in negotiations. She also served as a lead lawyer, negotiator, and adviser in other important international negotiations, including the Trans-Pacific Partnership.