In a context of rising protectionist rhetoric, this paper looks at the potential impact of trade wars initiated by a change in US trade policies. We show that such trade wars can hurt emerging countries and damage the global trading system without bringing gains for the United States. We use a...

Ianchovichina and Martin present estimates of the impact of accession by China and Chinese Taipei to the World Trade Organization. China is estimated to be the biggest beneficiary, followed by Chinese Taipei and their major trading partners. Accession will boost the labor-intensive manufacturing...