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As economic powers from the developing world, particularly China, have emerged in the past few decades, their weight has altered the balance in the global trading system. This has presented challenges in the World Trade Organisation (WTO), where the Doha Round of multilateral negotiations has dragged on for more than a dozen years. Frustrated by this stalemate, many countries have sought alternatives. Among these are 'mega-regional' trade agreements such as the proposed Transatlantic Trade and Investment Partnership (TTIP) between the US and EU, and a 16-member Trans-Pacific Partnership (TPP). In this volume, leading commentators – including two former heads of the WTO – examine the possible consequences of this shifting trade landscape. Is globalisation in reverse, and have countries been retreating from liberalisation since the world financial crisis of 2008–09? Are the 'mega-regional' deals an existential threat to the WTO regime, or can they be used as building blocks towards wider multilateral agreement on a broad range of issues, from industrial standards to intellectual property rights. And what does it all mean for the balance of geopolitical power between the developed and developing world?
As economic powers from the developing world, particularly China, have emerged in the past few decades, their weight has altered the balance in the global trading system. This has presented challenges in the World Trade Organisation (WTO), where the Doha Round of multilateral negotiations has dragged on for more than a dozen years. Frustrated by this stalemate, many countries have sought alternatives. Among these are �mega-regional� trade agreements such as the proposed Transatlantic Trade and Investment Partnership (TTIP) between the US and EU, and a 16-member Trans-Pacific Partnership (TPP). In this volume, leading commentators � including two former heads of the WTO � examine the possible consequences of this shifting trade landscape. Is globalisation in reverse, and have countries been retreating from liberalisation since the world financial crisis of 2008�09? Are the �mega-regional� deals an existential threat to the WTO regime, or can they be used as building blocks towards wider multilateral agreement on a broad range of issues, from industrial standards to intellectual property rights. And what does it all mean for the balance of geopolitical power between the developed and developing world?
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Alpo Rusi provides a broad vision of the strategic landscape for the coming century, warning against dangers inherent in the emerging world order. He predicts a more complexand potentially hostilemultipolar system based on four or five rival trading blocs. Despite the centrality of trade rivalries, the role of military force will not vanish. Although he considers superpower conflict unlikely, he expects that lower-level conflicts will become more prevalent. Consequently, Rusi believes that the trading blocs will have to actively pursue security arrangements that will safeguard the traditional role of the nation-state. }Examining the international system from a geopolitical and geoeconomic perspective, Alpo Rusi provides a broad vision and bold forecast of the emerging strategic landscape for the coming century. An asymmetrical world system is emerging. The United States is now the sole true world power; it forms the core of a unipolar order characterized by an uneven division of world power and economic resources. Rusi argues, however, that this postCold War order will not survive into the next century.Rusi suggests that the power vacuum in the former Soviet empire will be filled by China in Asia and by the European Union in Eastern Europe, Russias disintegration and decline in world power status will continue but may have reached its bottom line economically, and Islam will gain strength in various parts of the world, embracing a new international role. He also predicts that the world will be split into four or five distinct trading blocs: A European bloc formed around the European Union; an East Asian bloc, potentially strong, interventionist, and even aggressive, formed around China and the Singapore economic region; Japan, as a strong and still competitive economic power; and a Pan-American bloc, also strong but potentially isolationist, formed around the United States. One of the question marks will be the future ability of an orthodox Russia to facilitate conditions for an economic space. According to Rusi, these trading blocs will develop new political or geopolitical interests. For example, the European bloc will extract fossil fuels from the former Soviet Union instead of the Middle East, thereby changing the existing global trade system. Each bloc will have certain internal problemsthe Europeans will be linked to the unstable successors to the Soviet Union, the East Asian Bloc will have to contemplate whether Chinas economic growth and geopolitical expansions will create a new bipolar world in the early twenty-first century, and the Pan-American bloc will struggle with continuing political and economic instability in South and Central America.Finally, Rusi warns that it is crucial for the European and Pan-American blocs to build upon the traditional Euro-Atlantic relationship. Without it, he argues, a truly polarizedand potentially hostilebloc system will take root, most likely lining the Western pan-regions against Chinas expansiveness. }
The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.
Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
Author : World Bank Publisher : World Bank Publications Page : 511 pages File Size : 34,81 MB Release : 2019-11-19 Category : Business & Economics ISBN : 1464814953
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.