{"id":290418,"date":"2024-04-12T19:04:56","date_gmt":"2024-04-12T13:34:56","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=290418"},"modified":"2024-04-12T19:04:56","modified_gmt":"2024-04-12T13:34:56","slug":"us-china-trade-war-affected-global-trade-needed-an-apple-encore","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/us-china-trade-war-affected-global-trade-needed-an-apple-encore\/","title":{"rendered":"US-China trade war affected global trade: Needed an Apple encore"},"content":{"rendered":"

Source<\/strong>: The post US-China trade war affected global trade has been created, based on the article \u201cNeeded an Apple encore: India can do better in electronics exports<\/strong>\u201d published in \u201cBusiness standard<\/strong>\u201d on 12th April 2024.<\/p>\n

UPSC Syllabus Topic: <\/strong>GS Paper 2- International Relations-Effect of policies and politics of developed and developing countries on India’s interests,<\/p>\n

News<\/strong>: The World Trade Organization (WTO) has lowered its forecast for global trade growth in 2024 from 3.3% to 2.6%.<\/p>\n

How has the US-China trade war affected global trade?<\/strong><\/h2>\n

US-China Trade War: <\/strong>The US-China trade war started with the U.S. imposing a 25% tariff on about $350 billion worth of Chinese intermediate goods in 2018. Some products like laptops and mobile phones were initially excluded from tariff increases.<\/p>\n

Impact on Supply Chain: <\/strong>Despite tariffs, mobile phone imports from China to the U.S. grew by 10-15%. However, imports from other parts of the world increased by over 70%, indicating diversification away from Chinese suppliers.<\/p>\n

India’s Position:<\/strong> India’s electronics exports grew from $1.3 billion in 2018 to $8.9 billion in 2023, capturing only 5.5% of the total increase in non-Chinese electronics imports to the U.S.<\/p>\n

Other Countries’ Success:<\/strong> Countries like Vietnam benefitted significantly, with electronics exports rising from $12.1 billion in 2018 to $51.2 billion in 2023, making up 28% of the total non-Chinese incremental electronics imports into the U.S.<\/p>\n

Why are other countries outperforming India?<\/strong><\/h2>\n

India’s Tariff Strategy:<\/strong> India increased tariffs to boost domestic production, which could deter foreign investors and companies looking for stable, low-cost manufacturing bases.<\/p>\n

Export Statistics:<\/strong> Vietnam exports electronics to 123 countries, compared to India\u2019s exports to just a couple of dozen, highlighting its broader market reach.<\/p>\n

Question for practice:<\/strong><\/p>\n

Discuss the factors contributing to the outperformance of countries like Vietnam over India in terms of capturing a larger share of non-Chinese electronics imports into the U.S.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post US-China trade war affected global trade has been created, based on the article \u201cNeeded an Apple encore: India can do better in electronics exports\u201d published in \u201cBusiness standard\u201d on 12th April 2024. UPSC Syllabus Topic: GS Paper 2- International Relations-Effect of policies and politics of developed and developing countries on India’s interests,… Continue reading US-China trade war affected global trade: Needed an Apple encore<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,212,239],"class_list":["post-290418","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-2","tag-international-relations","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/290418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=290418"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/290418\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=290418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=290418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=290418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}