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The relationship between the US and Canada, each of which is the other’s principal source of imported energy, has become increasingly fraught in recent months. Canada and the...
Reports by Richard Nephew • October 08, 2019
This report represents the research and views of the author. It does not necessarily represent the views of the Center on Global Energy Policy. The piece may be subject to further revision. Contributions to SIPA for the benefit of CGEP are general use gifts, which gives the Center discretion in how it allocates these funds. More information is available at Our Partners. Rare cases of sponsored projects are clearly indicated. For a full list of financial supporters of the Center on Global Energy Policy at Columbia University SIPA, please visit our website at Our Partners. See below a list of members that are currently in CGEP’s Visionary Annual Circle.
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Occidental Petroleum Corporation
Though historically China has been a sanctions recipient, with only a few isolated incidents of using sanctions in return, this situation is likely going to change in the years to come. China’s global economic position — as well as its ambitions to serve as not only a global power, but also potentially the leading international power — will push it to consider means of exerting international leverage.
The United States has shown vividly in the last 30 years that sanctions are one means to this end, and Chinese scholars are demonstrating increasing facility with sanctions doctrine. China’s increasing assertiveness in economic sanctions will allow it to not only hit back directly against the United States with retaliatory measures, but also to develop independent rationales to apply sanctions in pursuit of Chinese policy objectives. China may begin using sanctions as an affirmative instrument of policy. The United States is vulnerable to disruptions in U.S.-Chinese economic ties. The U.S. reliance on Chinese financing, especially for U.S. national debt, and Chinese economic growth in areas where the U.S. typically excels demonstrate China’s capacity to target the U.S. To combat this potential emerging threat, the United States should seek first to negotiate with China on ways to avoid conflict. But, given the likelihood of competition nonetheless, the United States should also add sanctions development to its crisis management process, and increase intelligence and analytical capabilities that focus directly on Chinese sanctions doctrine and practice.
Reposted with permission. Read the full report here: https://www.brookings.edu/research/china-and-economic-sanctions-where-does-washington-have-leverage/.
Steps by the second Trump administration show it is taking a tougher stance against the regime of Nicolas Maduro. Trump recently issued an executive order that could levy a 25 percent tariff on countries that directly or indirectly import Venezuelan oil starting on April 2, and it has modified Chevron’s oil license to operate in the South American nation.
Trump’s abandonment of antibribery efforts will hurt—not help—U.S. companies.
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Reports by Richard Nephew • October 08, 2019