China's Agricultural Policy Adjustment from the Sino-US Bilateral Trade Conflict and the Agriculture in the WTO
──The 45th Teacher Development Center Forum of the Business School was Successfully Held
On the afternoon of November 10, at the invitation of the business school, Professor Yu Wusheng, Professor of the Food and Resources Economic Institute of the University of Copenhagen, Denmark, made a great academic report on the theme of the current Sino-US bilateral trade conflict and the enlightenment of the agricultural development in the World Trade Organization to China's agricultural policy adjustment. The report was attended by a number of faculty and graduate students at the business school.
Yu Wusheng, Professor of Food and Resources Economics, University of Copenhagen, Denmark, and doctoral supervisor . Quantitative economic analysis in the areas of agricultural trade, agriculture and food policy, agricultural trade policy, climate policy and climate change economics, and he is an expert in the analysis of general and local equilibrium models. His recent study was funded by the European Union H2020 program, the Danish Ministry of the Environment and Food, the OECD, the Norma and the Frode and the Smithsonian Foundation.
At the beginning of the report, Professor Yu, from the two sides of the World Trade Organization (WTO), outlined his teaching. First of all, he made a brief historical return to China and the United States from trading partners to their competitors.After China's entry into the WTO, the United States has always seen China as a trading partner, and until recent years it has changed to an adversary. The main reason for this shift is that China has limited food imports to protect the country's food security and the U.S wants to expand the Chinese market and export more of the spears between grains.
Later, Professor Yu pointed out that in order to make China's import and export gates bigger, the United States initiated two lawsuits against China within the WTO rules, namely, the domestic agricultural subsidies provided by China exceeded 8.5% and the tariff quotas. All practices violated China’s commitment to the WTO. In the end, the WTO recognized the two major sanctions proposed by the United States and asked China to implement it. China agreed to implement the WTO ruling, but at the same time it used agriculture as a tool against the United States, that is, outside the WTO mechanism, using food as an offensive means and not importing soybeans. As for why the United States has made such a big change and initiated a trade war against China, he believed that it is mainly due to the large amount of US imports of China, which leads to the loss of job opportunities in the US manufacturing industry.
Finally, Professor Yu introduced two studies he has been doing recently. First, with the unchanged domestic agricultural policies, as the cost of agricultural production continues to rise, how much food should be imported and how much production should be reduced. Second, if we do not engage in the minimum purchase price, can we support agricultural development in other ways?
Professor Yu combined the specific data to analyze the problem in the process of explanation, and used the easy-to-understand discourse to analyze the Sino-US trade conflict and the adjustment of China's agricultural policy in a concise. At the same time, Professor Yu encouraged students to learn from practical problems and realistic policies, observe more and think more. The report will deepen the understanding of our students on China's agricultural policies and benefit the students.