Trade in the 21st Century: Back to the Past?

ISBN-13: 9780815729044 / Angielski / Miękka / 2021 / 560 str.

Bernard M. Hoekman; Ernesto Zedillo

Opis

Despite troubled trade negotiations, global trade--and trade policy--will thrive in the twenty-first century, but with a bow to the past.

The repeated failures since 2001 of global trade negotiations and continuing uncertainties about the ultimate success of mega-regional trade agreements, like the recently concluded Trans-Pacific Partnership, have raised widespread questions about the future of global trade policy. In Trade in the 21st Century, two distinguished experts argue that, despite appearances to the contrary, not only is trade policy alive and well, but also that there are grounds for optimism about the prospects for international trade and investment growth in the twenty-first century.

Trade in the 21st Century asks a central question: Was the creation of the World Trade Organization in 1995 the high point of multilateral cooperation on trade and investment matters? Is it possible that, in the two decades since its founding, fundamental changes in technology and the structure of international production--such as global value chains and digitization of products--are leading to a renewed focus on unilateral policy processes and regional cooperation, to the detriment of the World Trade Organization?

Trade in the 21st Century, with contributions by some of the world's leading writers on trade, covers the key topics in the field: trade policy dynamics in the European Union and the United States; policies by and toward emerging economies, including China; incentives for governments to further open trade or reject past liberalization; implications of mega-regional trade agreements; and issues around digital trade, trade in services, agricultural trade policies; and trade and climate change policies.

Spis treści

• Preface: A Tribute to Patrick Messerlin
• Introduction: The International Trading System in Prostration, Courtesy of the United States
• Bernard Hoekman and Ernesto Zedillo
• Part I: Trade Policy Trends and Developments
• 1. The Pre-Trump Buildup of Trade Discrimination: Scale, Drivers, and Effect - Simon Evenett
• 2. Antidumping and Market Competition: Implications for Emerging Economies - Chad P. Bown
• 3. The Trade Policy of the United States under the Trump Administration - Craig Vangrasstek
• 4. China and the World Trading System: Will "In and Up" Be Replaced by "Down and Out"? - L. Alan Winters
• 5. Trade Wars: Nobody Expects the Spanish Inquisition - Eddy Bekkers, Joseph Francois, Douglas Nelson, and Hugo Rojas-Romagosa
• 6. "We Can Also Do Stupid": The EU Response to "America First" Protectionism - Simon Evenett
• 7. Burning Down the House? The Appellate Body at the Center of the WTO Crisis - Bernard Hoekman and Petros C. Mavroidis
• Part II: Challenges for Multilateral Cooperation
• 8. The Agricultural Challenge in the Twenty-First Century - Anne O. Krueger
• 9. Subsidies, Spillovers, and Multilateral Cooperation - Bernard Hoekman and Douglas Nelson
• 10. Disentangling Data Flows: Inside and Outside the Multinational Company - Erik Van Der Marel
• 11. What Can Be Done to Blunt Potential Conflict between Climate Change and Trade Policies? - Patrick Low
• 12. Regional Trade Agreements and Trade Costs in Services - Sébastien Miroudot and Ben Shepherd
• Part III: Economic Development and the Trading System
• 13. From Global Value Chains to Global Development Chains: Changing Paradigms - Olivier Cattaneo and Sébastien Miroudot
• 14. The Aid for Trade Initiative: A WTO Attempt at Coherence - Jean-Jacques Hallaert
• 15. Bananas, Subject of the Longest Transatlantic Dispute in the World Trading System: A Postmortem - Jaime De Melo
• 16. Unilateral Liberalization within the GATT/WTO System - Joseph Michael Finger
• Appendix: Selected Publications by Patrick Messerlin
• Contributors
• Index