Revista de Economie Mondiala/ Journal of Global Economics

11-26

Authors: Alexandru Butiseacă, Ionela Bălțătescu

In the current economic context, competitive devaluation has become a common practice both in emerging and developed economies. But, despite their relatively recent popularity, the economic advantages of competitive devaluations are only illusory, since these involve huge long-term cost seven for the states that resort to such policies. The main purpose of our research is to reveal the economic and political consequences of currency devaluations and to critically assess the protectionist thesis that a country needs to maintain a balanced trade with all its commercial partners.The research also contains a brief analysis of competitive devaluation policies applied by China. The paper is primarily a theoretical research, aiming to refine existing arguments, to bring new arguments, and to discuss relevant examples and cases for the announced topic.

47-65

Authors: Dorina Clichici

Over the past 20 years, the relations between the Russian Federation and China have intensified both at the political and economic level, based on a strategic partnership. The purpose of this article is to analyze the depth of the present Sino-Russian relations, especially in the area of economic cooperation in order to identify the problems and prospects of this strategic partnership.Our analysis finds that the “Eastern pivot” of the Russian Federation has more political substance than an economic one. Moreover, the commercial and investment goals agreed upon in their joint declarations are difficult to achieve, especially in the context of the Chinese economic reform and the Russian Federation’s economic downturn. Despite positive statements by their leaders,the Russian Federation and China are still trying to compromise on solutions for a range of economic and political issues that hinder bilateral cooperation.

14-26

Authors: Iulia Monica Oehler-Şincai

China stands out as a rising economic power. Its leap in international hierarchies is remarkable both in terms of GDP, international trade and investment flows and qualitative indicators. Based on these developments, China is increasingly assertive, both regionally and internationally. At the global level, China's assertiveness is revealed by the largest project ever launched by a single country: One Belt, One Road (OBOR). It represents "a strategic priority" of the Chinese leaders, motivated by economic and geopolitical factors, internal and external determinants. This initiative includes cooperation with over 70 countries and international organizations from Asia to Europe and Africa. At the same time, it involves growing coordination among the countries in terms of policies, increasing financial integration, promoting trade and investment, fostering connectivity through infrastructure projects, and encouraging the movement of people and cultural exchanges. This initiative, as well as the platform for cooperation with 16 countries in Central and Eastern Europe (16+1) have opened on the one hand new ways of enhancing the bilateral EU-China, but on the other hand an unjustified competition between EU countries for financial resources Chinese, although the EU-China strategic partnership, OBOR and 16+1 can benefit all countries involved, given their competitive advantages. Romania, as a member country of the EU and participant at the platform 16+1 should take into account both such new opportunities and the need for an active cooperation with all countries.

41-55

Authors: Edith Mihaela Dobrescu

This paper has as main objective highlighting the principles underlying the Agenda 2030 of the rationale and motivations of the United Nations to implement it globally, especially bringing to the attention of the international community a new way that this can work in for a global commitment to a different future for people and planet - one that brings humanity on the path of development.

70-81

Authors: Alina Aluculesei, Alexandra Rădan

This article presents an overview of a new Agreement on Trade in Services, which is still under negotiation. Topics addressed in this paper are as follows: (a) Why is a new agreement on trade in services necessary? (B) What will be the architecture of the new agreement and how it differs from the General Agreement on Trade in Services (GATS) of the WTO? (C) What topics are considered as possible problematic by states participating in the negotiations? The article points out that the necessity of the TiSA agreement has its roots in the failure to complete negotiations on services under the Doha Round, and adopting this plurilateral agreement would simplify business relationships among member countries and set a new global standard for trade in services.

12-26

Authors: Andreea-Emanuela Drăgoi

This article aims to present the strategic reforms in the field of rural development in China, highlighting the main changes in the agricultural sector and also in terms of quality of life in rural areas. The research undertaken is supported by a quantitative analysis based on Chinese national statistics, but also on those of the World Bank taking into account the most relevant indicators for rural development. Our analysis aims to highlight the strategic reorientation of public policies in field of rural property and their implications for boosting the agricultural sector development, and for reducing poverty in rural areas of China. The conclusions of our paper illustrate the benefits induced by the rural reform in terms of financial assistance for farmers, but also related to reducing development disparities in China’s rural areas.

39-49

Authors: Emilia Mary Bălan

In recent years, Romanian exports of major grain products (wheat and corn) have had an upward trend, due to the high level of domestic production (both in terms of physical volume and quality) and the increase in terms of competitiveness, especially in the Black Sea Region. The present analysis of trends in wheat and corn international prices and the dynamics of the Romanian exports of these cereals have been carried out on the basis of the processing and interpretation of the most recent data and information published by the Romanian and international specialized institutions. The paper offers a general guideline for the Romanian policy makers and the business community in order to develop the potential of commercial activity in the field of agricultural raw materials.

59-68

Authors: Paul Canter

Climate change is one of the most important challenges that humanity faces in the 21st century, and for the European Union, combating this phenomenon represents an important element, which is reflected both in the actions carried out in recent years, domestically and internationally, as well as in the EU policy on climate change. Within the EU, regulations were adopted, that demonstrate the importance that the Union confers to the limitation of this phenomenon, stressing at the same time the need for an integrated policy framework to ensure the security for potential investors and a coordinated approach between Member States. This paper will present recent developments for the most important policies to combat and mitigate climate change in the European Union, starting with "20-20-20" objectives, which are to be met through the package "Energy-Climate Change", continuing with 2030 and 2050 timeframes, and finally presenting the main lines of action to combat climate change.

20-39

Authors: Mariana Papatulica

World oil industry waited with hope the end of 2015 - maybe the worst year for oil producers since the crisis of 2008-2009 - though it was unclear whether 2016 will prove to be better. The sharp slide in prices since the first month of the year, to a “bottom” of $ 25 / barrel not seen since 2003 did not seem encouraging for the "oilmen". But since March 2016 prices started a recovery process, at first slowly and then increasingly stronger, so to the end of May, they approached the threshold of $ 50/barrel, and then exceeded it on 8 June for the first time since July 2015. The massive production cuts due to force majeure and geopolitical factors and dollar depreciation have secured the support of this “revival” which gave hope to a more sustainable recovery of crude oil market and prices, but Brexit's effects could considerably temper recent optimism of crude oil price forecasts.

64-80

Authors: Octavian-Dragomir Jora, Alexandru Butiseacă

Among the core dilemmas accompanying any attempt made to investigate the Chinese economic model, there is the one pertaining to the place and role of state enterprises: has the evolution (at least nominally documented by indicators) of the country in the last almost four decades been done “due to” or “in spite of” the eminent place of these entities in nodal sectors of the economy? State/public enterprises are the official bastion of the Chinese Communist Party, dedicated, on one hand, to fuel the predominantly capitalistic economic development and, on the other hand, not least important, to strengthen China’s imperial geopolitical pretence and propensity. The economic literature hosts a still unclosed debate on the possibility and performance if not of central planning, at least of scientific dirigisme and bureaucratic management. State enterprises (from China) remain a pertinent case study, both theoretical and historical, in the endeavour to grasp features of economics and economies.

94-103

Authors: Andreea-Emanuela Drăgoi

TISA adoption represents a key challenge in the field of global liberalization of trade in services not only from the perspective of developed countries, the main actors in the field, but also for the emerging countries, which are developing a service economy. In this context, our research proposes a qualitative analysis on TISA impact on the legal services and we will illustrate our assumptions with a case study related to the perspective of its application in Romania. Taking into consideration the main analyses from the literature in the field, the present article will highlight, through a SWOT analysis the main opportunities, but also the most important challenges for the legal services sector in the current global environment.

118-124

Authors: Florela Stoian

The paper addresses the main aspects of the short and medium-term developments in the world market for motor vehicles tires, an industry which is related to the machine building industry, with the latter being seen as a barometer for the health of an economy. It analyzes the main trends in motor vehicles production worldwide during the years 2011-2014, and highlights the ranking of the ten largest tire manufacturing companies, as well as the outlook until 2025. The article contains also forecasts on the growth of this industry by regions.

19-40

Authors: Sarmiza Pencea, Ana-Cristina Bâlgăr

China is in the midst of a rapid digital revolution. If just a generation ago most Chinese households depended on ration coupons to obtain almost any item needed for living, today China is the world’s largest e-commerce market, its citizens enjoying ever-increasing access to millions of online products. As a new and powerful growth engine, e-commerce is prone to having a major bearing on Chinese economy and society and, in consequence of their size, on the entire global economy. In this article, we look at the Chinese e-commerce market, identifying its major determinants, analyzing its dynamics, structure and main actors, its organizational patterns, its expected medium-term developments, as well as its impact on China’s economic growth, rebalancing and modernization.

53-71

Authors: Alina Ligia Dumitrescu

Although the disparities on the levels of development and the living standards among the Member States, the European Commission considers that the proposed Strategy "Europe 2020" is an incentive to overcome the post-crisis economic difficulties, to stabilize the financial sector and the banking community and to face the intensification of the globalization challenges. The inclusive growth, which is a key concept in the strategy "Europe 2020", requires a model based on a high level of employment of the workforce, that is ensuring the economic, social and territorial cohesion. In the EU strategy, the inclusive growth means: increasing the employment rate in the EU by more and better paid jobs, especially for women, young and older workers, supporting the unemployed to find a job through investment in skills and training, modernizing labor markets and social protection systems, meeting the fundamental objective which assumes that all citizens should benefit of the results of economic growth.