【CESS】The Trade War and American Soft Power: Evidence from Movies, Cars, Trust, and Online Searches

  • 研討會日期 : 2024-01-09
  • 時間 : 10:30
  • 主講人 : Professor Shang-Jin Wei
  • 地點 : Conference Room B110 & Online
  • 演講者簡介 : Professor Shang-Jin Wei received his Ph.D. in Economics from the University of California, Berkeley in 1992. He is currently N.T. Wang Professor of Chinese Business and Economy and Professor of Finance and Economics at Columbia University's Graduate School of Business and School of International and Public Affairs. He is a noted scholar in international finance, trade, and the Chinese economy.
  • 演講摘要 : The US trade war against China in 2018–2019 can either enhance or diminish the US soft power in China, depending on whether it is recognized as legitimate by Chinese citizens. We study how the viewership of US movies—an important element of the US soft power—is affected by the trade war, utilizing variations across Chinese cities in the exposure to the Trump tariffs. We find a significant reduction in US movie revenue in regions more exposed to the Trump tariffs, but no corresponding reduction in the consumption of non-US movies. This is corroborated by a decline in online search for US movies, US tourist destinations, and US branded sports shoes. The aversion to US movies appears to persist at least to 2021. The effect is somewhat milder for more affluent people.