Ensuring globalisation after the great crisis

Gary Clyde Hufbauer, Kati Suominen 13 October 2010

a

A

In statistical terms, globalisation is back. The trade rebound looks V-shaped – a drop of 12.2% in 2009 followed by a projected gain of 13.5% in 2010 (WTO 2010). Global foreign direct investment (FDI) is expected to recover to $1.2 trillion this year, after plunging from $2.0 trillion in 2007 to $1.0 trillion in 2009 (UNCTAD 2010). Financial markets have rebounded, and cross-border flows are recovering. After halving from $1.3 trillion in 2007 to $0.5 trillion in 2009, net portfolio capital flows to emerging markets will rise to an estimated $0.7 trillion this year (IIF 2010).

a

A

Topics:  Global economy International trade

Tags:  global imbalances, globalisation, WTO, FDI, Doha, Social security

Remake trade through a US-EU trade partnership

Susan Ariel Aaronson 01 October 2010

a

A

Americans may be from Venus, and Europeans from Mars; we clearly have different views about the role of government in the domestic and global economy. But Americans and Europeans have long collaborated to expand trade, enhance human welfare, and encourage employment. The US and European post-war planners wrote these objectives into the preambles of the ITO and the GATT, and they were repeated in the WTO.

a

A

Topics:  EU policies International trade

Tags:  trade policy, EU, WTO

A future agenda for EU trade policy as if the real world really mattered

Simon J Evenett 25 September 2010

a

A

The 27 member states of the European Union pool their sovereignty on commercial policy matters, with the European Commission negotiating on their behalf. This institutional arrangement – representing over 10 trillion US dollars of spending power per annum and several trillion dollars of overseas investments – should confer upon EU negotiators substantial clout. Yet, the EU has closed few trade deals over the past 10 years. This clout could not bring the Doha Round to conclusion. Nor have many regional trade agreement (RTA) negotiations been completed.

a

A

Topics:  EU policies International trade

Tags:  trade policy, EU, WTO

Tilting the playing field: FTAs and the changing pattern of protection

Thomas Prusa, Robert Teh 15 September 2010

a

A

Two of the most popular changes in trade policy in recent years are free-trade agreements and using antidumping duties to restrict trade from low-wage countries.

a

A

Topics:  International trade

Tags:  WTO, antidumping, protectionism, free-trade agreements

Contagious FTAs: New evidence on the domino theory of regionalism

Dany Jaimovich, Richard Baldwin 02 September 2010

a

A

Regionalism is sweeping the world trade system like wildfire. Multilateral WTO talks, meanwhile, proceed at a glacial pace. This correlation has led many observers to fear that regionalism’s boon is multilateralism’s bane. Jadish Bhagwati’s last book, for example, is titled Termites in the Trading System: How Preferential Agreements Undermine Free Trade (Bhagwati 2008).

a

A

Topics:  International trade

Tags:  WTO, regionalism, multilateralism

Resources trade and the WTO

Michele Ruta 04 August 2010

a

A

Trade in natural resources accounts for a growing share of world trade and a growing share of policymakers’ attention.

a

A

Topics:  Development Environment International trade

Tags:  trade policy, WTO, natural resources

Let’s do a Doha deal

Robert Z. Lawrence, Gary Clyde Hufbauer 06 July 2010

a

A

When it comes to the WTO’s Doha Round of trade negotiations, the resolution that came out of the G20 meeting in Toronto can be characterised as vapid. The best the G20 could do was to reiterate their support for achieving an agreement and direct their negotiators to “report on progress at our next meeting in Seoul where we will discuss the way forward”. In other words, nothing is expected to happen.

a

A

Topics:  International trade

Tags:  US, China, WTO, Doha

Doha and development: Market access, trade costs and aid for trade

Bernard Hoekman 19 June 2010

a

A

The General Agreement on Tariffs and Trade, the precursor to the WTO, was a club that allowed for membership à la carte. Developing countries1 did not need to sign on to new disciplines and were not expected to participate fully in the reciprocal exchange of concessions in negotiations, although they benefitted from generally applicable national treatment and most-favoured-nation disciplines. With the creation of the WTO this changed.

a

A

Topics:  Global governance International trade

Tags:  WTO, Doha Round, international trade

Alternatives to consensus at the WTO

Philip Levy 19 June 2010

a

A

The trade negotiations known as the Doha Development Agenda were launched in 2001 and scheduled to conclude at the end of 2005. That did not happen. Nor did they conclude in 2006, 2007, or 2008, despite urgent importuning and gatherings of dignitaries. Although the G20 repeatedly endorsed the goal of concluding the WTO talks in their 2009 proclamations, progress was not sufficient even to merit a ministerial review in the spring of 2010 (Baldwin 2009, Hufbauer et al. 2010).

a

A

Topics:  Global governance International trade

Tags:  WTO, Doha Round, international trade

Needed: A new approach to reduce regulatory barriers to trade

Geza Feketekuty 19 June 2010

a

A

As the WTO negotiations have moved from a focus on reducing tariffs to addressing barriers to trade, the traditional GATT mercantilist bargaining process has become less effective. This process proved highly successful in past rounds of multilateral trade negotiations in reducing tariffs because it enabled countries to obtain a double bargain. It expanded market access abroad for their exports in exchange for opening up their markets more widely for imports, and it increased economic efficiency and growth as a result of the increased competition (Hoekman and Kostecki 2009).

a

A

Topics:  Global governance International trade

Tags:  WTO, Doha Round, international trade

Pages

Events