The rise of US economic sanctions on China: Analysis of a new PIIE dataset

Martin Chorzempa, Mary Lovely and Yuting (Christine) Wan ()
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Yuting (Christine) Wan: Peterson Institute for International Economics

No PB24-14, Policy Briefs from Peterson Institute for International Economics

Abstract: Concerns over China's national security and human rights activities have led the United States to rely increasingly on financial sanctions and export controls to curb Beijing's behavior. But the tools are so complex it is difficult to assess their effectiveness. A new PIIE dataset sheds light on this economic statecraft. The first Trump administration added three times as many Chinese entities to export control and other sanctions lists than the previous four administrations; the Biden administration added even more to these lists. Most sanctions and controls target high-tech sectors, especially electronics, military and defense entities, aviation, space, and aerospace; targets are chosen under a veil of secrecy, raising questions over accountability and transparency. The benefits of isolating Chinese firms come with potential costs, hobbling innovation for US and allied business, encouraging circumvention of sanctions, and accelerating Chinese innovation.

Date: 2024-12
New Economics Papers: this item is included in nep-cna and nep-int
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