The United States Should Establish Permanent Normal Trade Relations With Russia

by Aslund, Anders; Hufbauer, Gary Clyde

• ISBN13: 9780881326208
• ISBN10: 0881326208
• Format: Paperback
• Copyright: 2011-12-15
• Publisher: Peterson Inst for Intl Economics

Summary

97 The United States Should Establish Permanent Normal Trade Relations with Russia

Author Biography

Anders slund, known to repeatedly challenge conventional wisdom on "transition economics," is a leading specialist on postcommunist economic transformation with more than 30 years of experience in the field. He boldly predicted the fall of the Soviet Union in his Gorbachev's Struggle for Economic Reform (1989). In How Russia Became a Market Economy (1995) he firmly stated that the only choice Russia had was market reform. Dr. slund joined the Peterson Institute for International Economics as senior fellow in 2006. He has worked as an economic adviser to the Russian government (1991-94), to the Ukrainian government, and to the president of the Kyrgyz Republic. Before joining the Peterson Institute he was the director of the Russian and Eurasian Program at the Carnegie Endowment for International Peace. Gary Clyde Hufbauer, Reginald Jones Senior Fellow since 1992, was formerly the Maurice Greenberg Chair and Director of Studies at the Council on Foreign Relations (1996-98) and the Marcus Wallenberg Professor of International Finance Diplomacy at Georgetown University (1985-92). Hufbauer has coauthored numerous books on international trade, investment, and tax issues, including Global Warming and the World Trading System (2009), Economic Sanctions Reconsidered, 3rd edition (2007), US Taxation of Foreign Income (2007), and US-China Trade Disputes: Rising Tide, Rising Stakes (2006).

Table of Contents

Preface	p. vii
Acknowledgments	p. xi
Executive Summary	p. xiii
Introduction	p. 1
Why the United States Should Grant Russia PNTR	p. 4
Russia's Rising Economic Significance	p. 7
Impact of the Global Economic Crisis on Russia	p. 9
Russia: The Wealthiest of the BRICs and Very Different from China	p. 11
Role in World Trade	p. 14
Role in US Trade	p. 16
US Direct Investment in Russia	p. 23
US Opportunities through Russia's Accession to the WTO and PNTR	p. 31
Tariff and Nontariff Barriers	p. 34
Access for US Agricultural Exports	p. 38
Access for US Industrial Exports	p. 41
Intellectual Property Rights	p. 45
Access for US Services Providers	p. 49
Russia and the World Trade Organization	p. 55
History of Russia's WTO Application	p. 55
Effects of WTO Accession on the Russian Economy	p. 58
Conclusion	p. 63
Appendix A Gravity Model Assessment of the Impact of WTO Accession on Russian Trade	p. 67
References	p. 73
Index	p. 77
Tables
Russia compared with other emerging-market countries, selected indicators, 2011	p. 13
Russian and US merchandise and commercial services exports, 1995 and 2010	p. 17
Russian trade with the world, 2000 and 2010	p. 18
Imports of BRICs by end use, 1996 and 2010	p. 20
Export-to-GDP ratios, selected countries, 2010	p. 23
Russian trade with the United States, 2000 and 2010	p. 24
Services trade for selected emerging-market economies, 2010	p. 26
Russian trade in services, selected partners, 2010	p. 27
US foreign direct investment stock in Russia, 2000 and 2010	p. 28
Russian tariffs on major imports from the United States, 2010	p. 36
US stock of foreign direct investment in the manufacturing sector, selected countries, 2000 and 2010	p. 42
US tariffs on major imports from Russia, 2010	p. 46
US trade remedy actions against Russian imports	p. 48
Impact of WTO accession: Decomposition of effects in the medium term	p. 59
Estimates for nonfuel and manufacturers trade by industrial countries with all partners, with WTO membership and foreign direct investment (FDI) explanatory variables, 1976-2005	p. 69
Figures
Russian GDP, 1999-2011	p. 8
Russian oil and gas production, 1985-2010	p. 12
Russian merchandise exports and imports, 1999-2011	p. 15
Russia's major export partners, 2010	p. 21
Russia's major import partners, 2010	p. 22
Boxes
US gains from granting PNTR status to Russia	p. xvi
Russia's bilateral WTO accession agreement with the United States	p. 32
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