Trade and Economic Integration Dominants in North America Countries' Interaction

• Autorzy: Olha Yatsenko , Vitalii Nitsenko , Tetiana Tananaiko , Beata Szetela , Alla Kobylianska
• Języki publikacji: EN

Abstrakty

EN

Under the conditions of deepening economic globalization and changes in regional integration unions functioning, formation and support of mutually beneficial and effective cooperation between countries is an important issue. Despite geographic proximity, cultural similarities and high efficiency of economic interactions, current state of the US-Canada trade cooperation worsens due to the ambitions of the USA as a global economic leader, alongside with unresolved trade disputes and increasing deficit of trade in goods and services. According to the analysis of the US-Canada external trade, it was concluded that due to long-lasting trade, the related supply chains have become highly integrated. The USA buys mostly raw materials and semi-finished products which are then used in finished products designated for internal and external markets. A lot of them even are sold back to Canada. However, there is a controversy in the USA and Canada interests. The USA seeks, first of all, to keep the world leading economic positions, to expand duty-free market available for the sales of domestic producers etc. Canada intends to get rid of protectionist restrictions presumed in American legislation and, thus, to increase the competitiveness of its producers' of goods at the US markets. Estimating the coefficient of trade connectivity, which is bigger than 1, it was evidenced that both countries, in case of trade relations' worsening or break, will be hardly reoriented on other partners. Our regression analysis shows that Canada's GDP positively depends on Canadian exports to the USA, while the subsequent permanent increase in Canada's exports to the USA is forecasted. However, it had been argued that the perspectives of future cooperation hardly depend on the results of negotiation regarding NAFTA reforming which turned into USMCA. Despite the positive conclusion of negotiations on NAFTA's reform and its transformation into USMCA/CUSMA, Canada still has to come up with a more rational policy in order not to become the fifty-first state of the US within the currency and, then, political union. (original abstract)

Słowa kluczowe

EN

Economic integration; Globalization; International trade

PL

Integracja gospodarcza; Globalizacja; Handel międzynarodowy

• Czasopismo: Journal of International Studies
• Rocznik: 2019
• Tom: 12
• Numer: nr 3
• Strony: 277--293

Twórcy

autor

Olha Yatsenko

• Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine

autor

Vitalii Nitsenko

• Private Joint-Stock Company "Higher education institution "Interregional Academy of Personnel Management", Kyiv, Ukraine

autor

Tetiana Tananaiko

• Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine

autor

Beata Szetela

• Rzeszow University of Technology, Poland

autor

Alla Kobylianska

• Kharkiv Petro Vasylenko National Technical University of Agriculture, Kharkiv, Ukraine

Bibliografia

• Alden, E. (2017). 4 major trade conflicts the US has with Canada. Business insider. Retrieved from http://www.businessinsider.com/4-major-trade-conflicts-the-us-has-with-canada-2017-6.
• Amadeo, K. (January 21, 2019). U.S. Trade Deficit by Country: Current Statistics and Issues. The Balance. Retrieved from https://www.thebalance.com/trade-deficit-by-county-3306264.
• Bilan, Y. (2009). Increase Diversification Through Strengthened Enabling Environment for Entrepreneurship: a Focus on Skill Endowments and Export Orientation (Example of Hungary and Poland). Economics and Sociology, 2(2), 33-45.
• Chalyi, V. (2012). Canada - USA: asymmetric experience of relations. Dzerkalo Tyzhnya, 42. Retrieved from https://dt.ua/POLITICS/kanada_sha_korisniy_dosvid_asimetrichnih_vidnosin.html. (In Ukrainian)
• Cattaneo, C. (January 16, 2018). «Shooting themselves in the foot»: How NAFTA's collapse could disrupt U.S.-Canada energy trade. Financial Post. Retrieved from http://business.financialpost.com/commodities/energy/shooting-themselves-in-the-foot-how-naftas-collapse-could-disrupt-u-s-canada-energy-trade.
• Corcoran, T. Canada is now playing hardball on trade with the U.S. - good. (January 10, 2018). Financial Post. Retrieved from http://business.financialpost.com/opinion/terence-corcoran-canada-is-now-playing-hardball-on-trade-with-u-s-good.
• Desjardins, J. (2017). The Numbers Behind the World's Closest Trade Relationship. Visual Capitalist. Retrieved from http://www.visualcapitalist.com/closest-trade-relationship-usa-canada.
• Dzialo, J., Gawronska-Nowak, B., Jura, J. (2017). Social Debate on Free Trade Agreements: Illusions Versus Reality. Economics and Sociology, 10(3), 116-135. doi:10.14254/2071-789X.2017/10-3/9
• Graham, D.A. (April 26, 2017). Why Is Trump Risking a Trade War With Canada? The Atlantic. Retrieved from https://www.theatlantic.com/international/archive/2017/04/why-is-trump-starting-a-trade-war-with-canada/524265.
• Jeffrey, J., & Peterson, S. (November 21-23, 2008). The North American Free Trade Agreement: Time for a Change? 7th Annual North American Regional Meeting. The Trilateral Commission. Ottawa. 1-21.
• Has the US started a lumber trade war with Canada? (April 26, 2017). The BBC News. Retrieved from http://www.bbc.com/news/world-us-canada-39708779.
• How Nafta Changed U.S. Trade With Canada and Mexico. (2017). The New York Times. Retrieved from https://www.nytimes.com/interactive/2017/business/nafta-canada-mexico.html.
• Gawronska-Nowak, B., Beck, K., & Valdivieso, P. (2019). Expert knowledge status quo in the Internet provided public debate on Free Trade Agreements. Meta analysis of Polish literature. Economics and Sociology, 12(1), 248-261. doi:10.14254/2071-789X.2019/12-1/14
• Gunderson, M. (2001). North American Economic Integration and Globalization. A chapter in The State of Economics in Canada: Festschrift in Honour of David Slater. The Centre for the Study of Living Standards, 355-375. Retrieved from http://www.csls.ca/events/slt01/gunderson.pdf. ISBN: 0-88911-942-2.
• Gunderson, M. (3 January, 1999). Labour Standards, Income Distribution and Trade. Integration and Trade, 82-104.
• Kim, H. M. (2018). Economic growth and tariff levels in the United States: A Granger causality analysis. Journal of International Studies, 11(4), 79-92. doi:10.14254/2071-8330.2018/11-4/6
• Komar, N.V. (2016). Characteristics of forming a free trade zone in North America. Bulletin of the Ternopil National Economic University, 1, 110-117. (In Ukrainian)
• Lukyanenko, D.G., Poruchnyk, A.M., & Stolyarchuk, Ya.M. (2014). International Economics. Kyiv: KNEU. (In Ukrainian)
• Lynch, K. (2017). U.S.-Canada International Trade. American Express. Retrieved from https://www.americanexpress.com/us/content/foreignexchange/articles/international-trade-united-states-canada
• Moroz, S., Nagyova, L., Bilan, Y., Horska, E., & Polakova, Z. (2017). The current state and prospects of trade relations between Ukraine and the European Union: the Visegrad vector. Economic Annals-XXI, 163(1-2), 14-21.
• North American Free Trade Agreement. Retrieved from https://www.nafta-sec-alena.org/Home/Texts-of-the-Agreement/North-American-Free-Trade-Agreement.
• Official Website of the State Statistics Service of Canada. Canada's merchandise trade with the U.S. by state. Retrieved from https://www.statcan.gc.ca/pub/13-605-x/2017001/article/14841-eng.htm.
• Official Website of the Statistics Bureau of Canada USA. Data and Statistics about the United States. Retrieved from https://www.usa.gov/statistics.
• Official website of World Trade Organization. Retrieved from https://www.wto.org/index.htm
• Pasmor, M.R., Babenko, V.O., & Sidorov, V.I. (2016). Trade and economic component of regional economic processes in the conditions of globalization. Business Inform, 4, 31-37. (In Ukrainian)
• Top 10 US Exports to Canada. Retrieved from http://www.worldsrichestcountries.com/top_us_exports.html.
• U.S.-Canada regulatory cooperation council. Retrieved from https://www.trade.gov/RCC.
• Villareal, M.A., & Fergusson, I.A. (April 16, 2015). The North American Free Trade Agreement (NAFTA). Congressional Research Service, 1-33.
• Soloninko, K.P. (2008). International Economics. Kyiv: Condor. (In Ukrainian)
• The USA, Canada and Mexico began to review the terms of the FTA. (2017). Retrieved from https://tsn.ua/svit/ssha-kanada-i-meksika-rozpochali-pereglyad-umov-zvt-977325.html. (In Ukrainian)
• Trilateral Statement on the Conclusion of the Fourth Round of NAFTA Negotiations. (2017). Retrieved from https://ustr.gov/about-us/policy-offices/press-office/press-releases/2017/october/trilateral-statement-conclusion.
• Tausche, K., & Domm, P. (2017). US trade deal with Canada, Mexico on 'thin ice' as new round of talks begin. CNBC LLC. Retrieved from https://www.cnbc.com/2017/10/10/u-s-trade-deal-with-canada-mexico-on-thin-ice-as-new-round-of-talks-begin.html.
• The World Trade Organization. (January 10, 2018). Canada Files WTO Complaint Over US Trade Remedies. Retrieved from https://www.wto.org/english/news_e/news18_e/ds535rfc_10jan18_e.htm.
• Robertson, L. (April 28, 2017). The U.S.-Canada Dairy Dispute. FactCheck. Retrieved from http://www.factcheck.org/2017/04/u-s-canada-dairy-dispute.
• Simpson, K. (October 27, 2017). Trudeau dismisses concerns free trade with China will hurt Canada-U.S. relationship. CBC News. Retrieved from https://www.cbc.ca/news/politics/james-moore-china-nafta-plan-1.4374026.
• Vanyushkin, A.P. (2004). Identification of development problems prior to the creation of integration unions. Culture of the Peoples of Black Sea, 56(1), 97-100. (In Ukrainian)
• UNCTAD. Official website of United Nations Conference on Trade and Development - UNCTAD. Retrieved from http://unctadstat.unctad.org/wds/TableViewer/tableView.aspx.
• Yatsenko, O., Nitsenko, V., Karasova, N., James Jr, H. S., & Parcell, J. L. (2017). Realization of the potential of the Ukraine-EU free trade area in agriculture. Journal of International Studies, 10(2), 258-277.
• Yatsenko, O., Nitsenko, V., Mardani, A., Streimikiene, D., & Tananaiko, T. (2019). Global Risks of Trade and Economic Cooperation of Ukraine With Countries of the Northern American Region. Montenegrin Journal of Economics, 15(3), 217-225.

Identyfikatory

DOI

10.14254/2071-8330.2019/12-3/22