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CSIS: A Positive Trade Agenda
Summary
On February 27, FAO Global Business Analyst Michael Tian attended the event ‘A Positive Trade Agenda’ hosted by the Center for Strategic and International Studies (CSIS). Keynote speakers included FedEx Corporation Chairman Frederick W. Smith and former Secretary of the Treasury Henry M. Paulson. The event included breakout sessions addressing 1. The possibility of a zero tariff, zero subsidies, zero barriers world, 2. The outlook on developing new international frameworks or reforming old ones, and 3. Whether to engage or disengage with China. Each of these sessions were led by high level scholars from D.C. think tanks and by current and former U.S. government workers.
3 Key Takeaways
Takeaway #1
Technology, not trade, is a larger and more dynamic factor in terms of job loss and creation. The solution should not be to limit trade, but to guarantee that technology promotes job growth and to provide robust transitional education and training programs to those who lose their jobs to automation and technology. – Frederick W. Smith, FedEx Corp
Takeaway #2
For the first time in decades, the benefit of global trade is being questioned. It is important to make the distinction between labeling the problem as ‘trade’ versus ‘trade agreements.’ This framing affects the approach to the problem. – Hank Paulson, Former Secretary of the Treasury
Takeaway #3
Decoupling with China may have unintended consequences. It may result in U.S. firms being less competitive on a global scale. There is no guarantee that allies will follow U.S. lead and any attempts to isolate China may result in the U.S. inadvertently isolating itself.
FAO Global Assessment
The CSIS event recognized the realities of strategic competition between the United States and China but emphasized the dangerous prospects of an economic ‘Iron Curtain’ with China. Overall, the consensus among the scholars was that trade itself is not the issue, and that policy solutions must acutely address issues within trade deals – ideally without the use of tariffs or other barriers. FAO Global aims to help our clients traverse geographic, political, and cultural boundaries.
From this event, we assess that slowing the flow of trade will not just hurt China, but also the potential of U.S. firms. Instead, we hope to see a solution that ensures legal compliance and fair practice between both parties. Valuing the importance of global partnerships, we expect that a U.S.-China trade deal that guarantees a stable legal framework will give our clients the confidence to operate overseas.
Analyst Bio’s
Michael Tian: Michael Tian is currently a Junior at Brown University concentrating in International Relations and Economics with a focus on East Asia. Dedicated to understanding the global economy and its effects on inter-state relations, Michael seeks to promote mutual cooperation and foster cultural ties across cultures and space by developing informed and objective publications in both policy and academia.
Brandon Hughes: Brandon is the Senior Analyst and Founder of FAO Global. He served as a government adviser and led military teams in Afghanistan, supported peace keeping operations in Europe, led corporate security teams in Las Vegas, and conducted strategic U.S.-China focused research for the prestigious Carnegie Endowment & Asia Society. Brandon leads FAO Global to conduct cross-border international business ventures between the U.S., China, and emerging markets in Asia.
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Our Analysts, Associates, Consultants, and Interns all possess extensive experience in a foreign country and a foreign language capability. Our talent pool includes graduates from the elite Tsinghua University in Beijing, Georgetown University, George Washington University, UC Berkeley, and University of South Carolina. Being based in the Washington, DC Metro Area provides our team the advantage to build relationships with policy makers, foreign diplomats, business leaders, and non-profit groups providing a holistic view of global policy and the impacts to the business community. In addition to being based in the Washington, DC area, we retain the input and advice from affiliates located in China. This allows us to maintain on-ground awareness of changing business and political environment conditions and facilitate client projects between the two countries and the greater Asia continent.
