Revista de Economie Mondiala/ Journal of Global Economics

1-35

Authors: Agnes Ghibuţiu

After being trapped in an increasingly fierce and devastating trade war over the last months, Washington and Beijing managed to conclude a temporary truce during President Trump's meeting with Chinese President Xi Jinping on the sidelines of the G20 summit in Buenos Aires. Starting from the analysis of the current state of the US-China trade war, this article aims to: (1) highlight the effects of this trade war, both from the perspective of the parties implied, and the global trading system; (2) reveal the reasons behind this war, as well as its real stakes; and (3) assess the outlook for this war in the light of the recent US-China ceasefire. While the temporary truce in the US-China trade war does not solve the fundamental differences between the two nations, it allows the resumption of the negotiations to resolve a trade dispute that has dangereously escalated over the last months, damaging the global economy. The trade war between the two largest economies in the world is far from over. There is also little hope for the two sides to strike a comprehensive agreement in the near future, and the prospects for the long-term Sino-American relationship are fraught with major uncertainties.

48-64

Authors: Iulia Monica Oehler-Șincai, Alina Ligia Dumitrescu

This paper starts from the assumption that in order to increase India’s role on a regional and global scale the country has to consolidate its internal coordinates by stimulating economic and social development based on the three pillars of sustainable growth, namely the economic, social and environmental. It addresses various facets of India’s socio-economic evolution and highlights the potential impact of the current reform measures on sustainable development and social infrastructure, with direct implications for India’s participation in the system of international relations. Despite the demographic dividend and remarkable progress in reforms, India faces a number of constraints, which makes the development of physical and social infrastructure, reduction of the informal sector, diminishing of the negative externalities associated with urbanization and the decrease of dependence on energy imports to be essential for achieving its goals in the future.

1-10

Authors: Florin Bonciu

The paper analyzes some of the changes in the domestic and international economic environment that took place especially during the last decade and generated significant effects on the labour market as well as on the development models. The research is focused on the impact of the effects of globalization and of the Fourth Industrial Revolution on the labour market and society in general, stressing that inequality, poverty and differential exposure to economic challenges generate reactions of adaptation and defense which are reflected, sooner or later, in political options. The conclusions of the research highlight the importance that should be given to the human factor in the design of any sustainable development model, as well as the attention that has to be paid to the social supportability of adaptation efforts required by the transition periods.

27-38

Authors: Iulia Monica Oehler-Șincai

The main objective of this paper is to examine India’s strategic partnerships according to their objectives and their role for India. The analysis considers both India’s foreign policy goals, particularly in the Indo-Pacific area in terms of the “Act East” policy after 2011-2012, and the inputs needed to reform the Indian economy. The research highlights the Russian Federation, the USA, France, Israel, but also Germany and the UK among India’s core partners in the development of the Indian defense industry, with Germany playing a key role in economic growth and development as well. Conversely, despite some recent catalysts of the bilateral relationship, the European Union has not managed yet to occupy a central place within India’s strategic partnerships.

57-71

Authors: Alina Ligia Dumitrescu, Iulia Monica Oehler Şincai

This paper aims to analyse the impact of migration on the European Union's political unity. The European leaders' different views on migration are examined, as well as the challenges related to finding more effective, joint and unitary solutions at the Community level. The humanitarian, social, economic and security issues raised by the migratory waves over the past three years may be seen as a maturity test for the community bloc, on whose success the very existence of the EU depends, as a space of European culture and civilization based on the three principles which underlie the construction of the EU architecture, i.e.: ”freedom, equality and fraternity”.

3-17

Authors: Florin Bonciu

The paper analyses the changes in the perceptions on the world economy system in the post World War II period, with the shifts from the idea of antagonist sub-systems to that of convergence and from the idea of the end of history to that of a dynamic multi-polar world. On this basis, it states that the current phase of globalization is characterized by diversity and haziness from ideological, economic, political, social and military points of view. Further, the changing global balance of power and the emergence of new socio-economic paradigms require the establishment of a new world economic order. According to the conclusions of the paper, the multi-polar world, defined by new hierarchies, technologies, institutions and mechanisms could be more unstable and more dynamic, implying a permanent negotiation of the participants' interests. Understanding these characteristics of the future would allow Romania to devise strategies that might capitalize on its potential.

49-69

Authors: George – Cornel Dumitrescu

This paper aims to analyse the non-financial companies in the European Union (EU) member countries, using a set of relevant indicators (debt to equity ratio, net return on equity, gross profit share, debt to GDP ratio, gross investment rate) in order to establish the deviation from the EU and the Eurozone average. The analysis in our paper is based on both insights from the current literature and statistical data and information provided by the European Central Bank, the National Bank of Romania, and the European Commission. According to the findings of our research, between 2007 and 2016 Romanian non-financial companies underperformed most noticeably in terms of debt to equity ratio and only temporarily in respect of debt to GDP ratio as compared to the Eurozone. From the perspective of gross investment rate and gross profit share, Romanian companies outperformed the Eurozone as a whole.

82-96

Authors: Alina Ligia Dumitrescu

This article analyzes the phenomenon of migration in the European Union (EU), using a quantitative analysis based on EU data, but also a qualitative analysis of the theories on migration and the EU regulations in this field. Some relevant theories on migration, as well as the evolution of the EU legal framework are presented. An important section of our research is assigned to the description of the demographic impact of the migratory flows and the measures to stimulate the integration of migrants. The author proposes a balanced approach to the advantages and disadvantages of migration in the Community space, leaving the reader the freedom to formulate his own conclusions based on the analysis carried out.

3-17

Authors: Florin Bonciu

The paper focuses on the analysis of the consequences of several phenomena that have occurred in the past two decades in respect of the role played by state entities in supporting growth and economic development. Demographic and technical-scientific developments related to the Fourth Industrial Revolution were among the phenomena leading to an increasing trend in the role of state entities in supporting economic growth and development. In the meantime, other phenomena, including new technologies, economic integration and socio-cultural and historical processes, had a diminishing effect on the role played by state entities in supporting growth and economic development. By comparing the two categories of phenomena, the paper concludes that the phenomena supporting an increase in the role of state entities are more numerous and substantial, a fact that may assist decision-makers in developing appropriate approaches and strategies.

42-60

Authors: Virginia Câmpeanu

In March 2018, the US President announced additional tariffs on steel and aluminum imports to be applied to all exporters in the US market. The main reason behind these protectionist measures is the threat to national security caused by the US balance of trade, as reflected by annual losses of hundreds of billions of dollars. Strengthening of the US steel and aluminum industries, job creation and, hence, the consolidation of the US economy appear to be among the benefits of the new tariffs. This article aims to analyze US trade and issues related to the major trading partners, as well as the new protectionist measures initiated by president Trump, alongside the domestic and international responses. Finally, the article highlights the immediate and foreseeable consequences of these measures and concludes that rather than triggering a global trade war, the Trump administration is preparing the means to exert pressure to renegotiate the US trade agreements.

76-88

Authors: Emilia Mary Bălan, Simona Zamșa

The elimination of the European Union’s sugar quota system in September 2017, after nearly 50 years, had a significant impact on the prices of this product as a result of the market surplus. This paper analyzes the European sugar market in the global context, six months after the European Commission’s historic decision. It also highlights the evolution of sugar quotations at the London Stock Exchange between October 2017 and March 2018, compared to the similar period of the previous year, and gives an overview of the main fundamental factors of the international sugar market. After examining the European market both in terms of the abolition of the production quotas and the UK’s departure from the EU in 2019, the paper concludes that the short and medium-term sugar supply is set to increase, while the sugar quotations will follow a downward trend.