Global value chains, interdependence, and the future of trade

Pascal Lamy, 18 December 2013

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Today, the expansion of global value or production chains means that most products or services are assembled with inputs from many countries. We may still think in terms of Ricardo’s world of trade between nations, but in reality most trade now takes place within globe-spanning multinational companies and their suppliers.

Topics: International trade
Tags: Bali, Doha, global supply chains, mega-regional negotiations, trade, WTO

Building on Bali: A new VoxEU eBook

Simon J Evenett, Alejandro Jara , 18 December 2013

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The successful conclusion of the Bali Ministerial Conference and its terrific reception in the international press and from government leaders means that the WTO now has the opportunity to restore its fortunes. Talk of the WTO’s demise as a negotiating forum has been set aside, at least for now.

Topics: International trade
Tags: Bali package, WTO

WTO agreement: The Bali Ribbon

Richard Baldwin, 12 December 2013

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Bali’s success got multilateralism out of the emergency room and into the intensive care unit – but we don’t know whether the operation was a success. The Bali package is only distantly related to the heart of the 2001 agenda (WTO 2013).

Topics: Global governance, International trade
Tags: Bali, Doha, mega-regional negotiations, multilateralism, regional trade agreements, trade, Trans-Pacific Partnership, Transatlantic Trade and Investment Partnership, WTO

Ukraine’s trade policy: Addressing supply-chain frictions

Bernard Hoekman, Jesper Jensen, David Tarr, 29 November 2013

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On November 21 2013, Ukraine suspended preparations for signing the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union (EU) at the Third EU-Eastern Partnership Summit in Vilnius on November 28-29. In 2010, the Russian Federation, Belarus and Kazakhstan formed the Eurasian Customs Union (ECU) and have invited Ukraine to become a member.

Topics: EU institutions, International trade
Tags: barriers to trade, FTAs, global supply chain, Ukraine, WTO

Does policy uncertainty reduce economic activity? Insights and evidence from large trade reforms

Kyle Handley, Nuno Limão, 23 November 2013

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The impact of policy uncertainty on economic activity is an issue traditionally associated with developing countries. Since 2008, however, the spotlight has shifted. Governments’ responses to the Great Recession and the Eurozone crisis have raised considerable uncertainty about the future policies of advanced economies.

Topics: International trade
Tags: China, Eurozone crisis, Great Recession, trade, uncertainty, US, WTO

Will the WTO Bali conference advance the Doha Round and Asia?

Matthias Helble, Ganeshan Wignaraja , 13 November 2013

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Trade negotiators from Asia and elsewhere are locked in intense negotiations to lay the platform for a Doha trade deal at the WTO Ministerial Conference in Bali, Indonesia, 3–6 December 2013.

Topics: Global governance, International trade
Tags: Asia, Bali, Doha, food security, tariff-quota administration, tariffs, trade, trade facilitation, WTO

Sustaining trade reform: Institutional lessons from Peru and Argentina

Elías A. Baracat, J. Michael Finger, Julio J. Nogués, Raúl León Thorne, 28 October 2013

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Beyond removing restrictions, trade reform in Latin American in the 1980s and 1990s was also an attempt to reform the culture of policy management, and in some countries to introduce an optimistic, ‘Asian’ perspective into trade politics. In Peru, reforms have been sustained over several changes of president.

Topics: Institutions and economics, International trade
Tags: Argentina, Latin America, Peru, reform, trade liberalisation, WTO

Awakening the WTO

Hector R. Torres, 21 September 2013

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Admitting that 'the present is just a snapshot in a journey' is disconcerting, so we feel better assuming that the current state of affairs will turn out to be permanent. Indulging in this mistake is common, and we also see it happening in multilateral institutions – particularly if they do not have a watchdog to keep them free from self-deception.

Topics: Institutions and economics, International trade
Tags: developing countries, Doha Round, international trade, WTO

An unintended consequence of WTO membership

Beata Javorcik, Gaia Narciso, 5 September 2013

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The WTO with its 158 member countries is one of the most prominent international bodies. Becoming a member of the club often involves extensive and sometime politically difficult policy changes. For instance, the median time gap between the application and the accession reached 71 months for countries that joined after 1995 (Tang and Wei 2011).

Topics: International trade
Tags: smuggling, tariff evasion, WTO

Global value chain governance in the era of mega FTAs and a proposal of an international supply-chain agreement

Michitaka Nakatomi, 15 August 2013

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As the Doha Round of trade negotiations under the WTO continues to stagnate, mega FTAs – such as the Trans-Pacific Partnership (TPP), the economic partnership agreement between Japan and the EU, and the Transatlantic Trade and Investment Partnership between the US and the EU – will likely play the leading role in trade rulemaking for some time to come.

Topics: International trade
Tags: FTAs, global value chains, WTO

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