scholarly journals Trade, the Precautionary Principle, and Post-Modern Regulatory Process

2013 ◽  
Vol 4 (4) ◽  
pp. 493-507 ◽  
Author(s):  
Lucas Bergkamp ◽  
Lawrence Kogan
Keyword(s):  
Market Access ◽  
Doha Round ◽  
Regional Trade ◽  
Trading System ◽  
Transatlantic Trade ◽  
Consumer Markets ◽  
Multilateral Trading System ◽  
The World ◽  
Regulatory Convergence ◽  
Trade And Investment

The Transatlantic Trade and Investment Partnership (“TTIP”) has been hailed as an opportunity for the world's two largest consumer markets to expand inter- regional trade, investment and jobs, and to secure greater regulatory convergence that could considerably reduce costly and market-distorting extra-territorial non-tariff regulatory trade barriers. As fears of potential adverse effects on the World Trade Organization’s multilateral trading system have abated after the Doha round stalled, the initiation of the TTIP has been welcomed by the business communities on both sides of the Atlantic.Notwithstanding the anticipated benefits, questions arise with respect to both the way the negotiations are conducted and the topics covered. The TTIP negotiating mandate covers three main elements: (i) market access, (ii) regulatory convergence, and (iii) trade rules addressing shared global challenges.

The Long and Winding Road – Path Towards Facilitation of Development in the WTO: Reflections on the Doha Round and Beyond

2016 ◽  
Vol 9 (2) ◽  
Author(s):  
Yong-Shik Lee
Keyword(s):  
Trade Agreements ◽  
Doha Round ◽  
Future Prospects ◽  
Regional Trade ◽  
Trading System ◽  
Institutional Frameworks ◽  
Development Agenda ◽  
Multilateral Trading System ◽  
The World ◽  
Development Gap

AbstractThe current multilateral trading system under the auspices of the World Trade Organization (WTO) displays a substantial development gap in the regulatory and institutional frameworks. The Doha Round negotiations, which was initiated to promote development interests under the Doha Development Agenda (DDA), have not been concluded for over 14 years, raising doubts about the ability of the WTO system to promote development interests effectively. While the Doha Round was sluggish for a number of years, regional trade agreements, which currently include every WTO Member, have been proliferated, creating significant implications for developing countries. This article examines the development of the Doha Round, analyzes the causes of its impasse, and explores its future prospects. The article also discusses the development gap in the current trading system and advances reform proposals to fill the gap in the system.

scholarly journals THE EFFECTS OF MEGA-REGIONAL TRADE AGREEMENTS ON THE MULTILATERAL TRADING SYSTEM // EFEKTI MEGA-REGIONALNIH SPORAZUMA NA MULTILATERALNI TRGOVINSKI SUSTAV

2017 ◽  
Vol 12 (2) ◽  
Author(s):  
Vlatka Bilas ◽  
Sanja Franc
Keyword(s):  
Emerging Economies ◽  
Trade Agreements ◽  
Regional Trade Agreements ◽  
Regional Trade ◽  
Trading System ◽  
Transatlantic Trade ◽  
Global Standards ◽  
Multilateral Trading System ◽  
Trade And Investment ◽  
The Multilateral Trading System

The aim of this study is to investigate the motives and effects of mega-regional trade agreements on the multilateral trading system using the example of Trans Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP). Multilateralism and regionalism, although opposite trends, coexist simultaneously. While many arguments can be given for both approaches one has to recognize that the number of regional trade agreements is increasing and that regionalism is becoming a prevailing trend. The response to the regional trade agreements, especially mega-regionals, will mostly depend upon the effect on the third countries’ trade interests. Since it is expected that, over time, many of the currently excluded emerging economies will become a part of some mega-regional agreement, it is not likely that new global standards and rules will be created on a strictly regional but rather on multilateral level.

scholarly journals Will International Rules on Subsidies Disrupt the World Trading System?

2006 ◽  
Vol 96 (3) ◽  
pp. 877-895 ◽  
Author(s):  
Kyle Bagwell ◽  
Robert W Staiger
Keyword(s):  
Market Access ◽  
Formal Analysis ◽  
Trading System ◽  
Domestic Production ◽  
Multilateral Trading System ◽  
The World ◽  
World Trading System ◽  
The Creation ◽  
The Impact ◽  
The Multilateral Trading System

We provide a first formal analysis of the international rules that govern the use of subsidies to domestic production. Our analysis highlights the impact of the new subsidy disciplines that were added to GATT rules with the creation of the WTO. While GATT subsidy rules were typically viewed as weak and inadequate, our results suggest that the key changes introduced by the WTO subsidy rules may ultimately do more harm than good to the multilateral trading system by undermining the ability of tariff negotiations to serve as the mechanism for expanding market access to more efficient levels.

scholarly journals WTO REFORM: BACKGROUND, CONDITIONS AND PROSPECTS

2016 ◽  
pp. 239-248
Author(s):  
T. M. Isachenko
Keyword(s):  
World Trade ◽  
Market Access ◽  
Innovative Development ◽  
International Division ◽  
Trading System ◽  
Multilateral Trading System ◽  
The World ◽  
Key Issues ◽  
Main Regulator ◽  
The Multilateral Trading System

Maximizing the benefits of international division of labor and sharing the achievements of innovative development is possible only with the existence of a strict system of rules and regulations. Such system would enable fair regulation of international trade, ensure the transparency of market access and make it possible to challenge discriminatory measures, as well as to maintain certain measures to protect the interests of domestic producers. The creation of the multilateral trading system has started with the General Agreement on Tariffs and Trade (GATT) and was subsequently developed in the documents and codes, the decisions of the negotiating rounds. Since 1995, a set of rules of the World Trade Organization (WTO) became the basis of the multilateral trading system. All rules are worked out at the multilateral level. However, in recent years the negotiations within the WTO has slowed down, that affected the quality and speed of decision-making on key issues of global development. That provokes the discussion it on a certain crisis of the WTO as the main regulator of world trade, and therefore the need to provide both institutional and substantive reforms.

Regionalism and the Multilateral Trading System

2018 ◽  
pp. 1-18
Author(s):  
James P. Murphy ◽  
Carolan McLarney
Keyword(s):  
World Trade ◽  
Trade Agreements ◽  
Regional Trade Agreements ◽  
Regional Trade ◽  
Trading System ◽  
Trade Area ◽  
The Us ◽  
Multilateral Trading System ◽  
The World ◽  
The Multilateral Trading System

Regionalism and the Multilateral Trading System: The Role of Regional Trade Agreements is a discussion about the new reality and the evolution of the reduction of international barriers to freer trade under the World Trade Organization (WTO) formerly the General Agreement on Trade and Tariffs (GATT). The chapter devotes time to the two largest regional trade agreements (RTAs), the European Union (EU) with 28 countries and North American Trading Agreement (NAFTA) with three countries account for half of all world trade (WTO, 2017a). The US set a course post World War II as the proponent of globalization and freer trade. RTAs at that time were failing or inconsequential. In response to the EU trading block, the US committed to a (Free Trade Area) FTA with Canada and subsequently the NAFTA with Canada and Mexico the rest of the world began to become concerned about being shut out of a preferential trade deal. The main theme of the chapter is that trade liberalization is moving forward because of Regional Trading agreements, not the WTO which is stalled and may never restart in its current form.

Policy Externalities and High-Tech Rivalry: Competition and Multilateral Cooperation Beyond the WTO

1996 ◽  
Vol 9 (2) ◽  
pp. 273-318 ◽  
Author(s):  
Bernard M. Hoekman ◽  
Petros C. Mavroidis
Keyword(s):  
World Trade ◽  
Market Access ◽  
High Technology ◽  
High Tech ◽  
Trading System ◽  
Multilateral Cooperation ◽  
National Courts ◽  
Multilateral Trading System ◽  
The World ◽  
The Right

Governments have increasingly been giving attention to the need for, and prospects of, ensuring contestability of markets through international agreements. This paper explores what has been achieved so far in the context of the World Trade Organization (WTO) and what might be done to further enhance the ‘competition-friendliness’ of the multilateral trading system. The case of high-technology industrial rivalry is used for concreteness. High-tech is interesting because it cuts across many of the issues that are relevant from a systemic perspective, both ‘old’ (market access) and ‘new’ (investment, antitrust). We conclude that greater contestability of regulatory regimes in domestic legal orders may be beneficial. This can be pursued by giving private parties the right to contest actions of WTO member states before national courts.

scholarly journals Transatlantic Trade and Investment Partnership (TTIP): The Devil in Disguise or a Golden Opportunity to Build a Transatlantic Marketplace?

2016 ◽  
Vol 5 (2) ◽  
pp. 315-340 ◽  
Author(s):  
Christian Pitschas
Keyword(s):  
United States ◽  
European Union ◽  
Developing Countries ◽  
The United States ◽  
The European Union ◽  
Trading System ◽  
Transatlantic Trade ◽  
Multilateral Trading System ◽  
Trade And Investment ◽  
The Multilateral Trading System

Abstract The European Union (EU) and the United States are currently negotiating a free-trade agreement, the so-called Transatlantic Trade and Investment Partnership (TTIP). These negotiations have to be seen in perspective, since a number of other - bilateral and plurilateral - trade deals are being pursued at the same time. All these negotiations point to a worrisome aspect: the World Trade Organisation’s failure to come to a meaningful agreement in the Doha-round negotiations, in terms of market access, new rules and development. Like the Trans-Pacific Partnership (TPP), TTIP would stand out among the crowd of trade agreements because of the sheer volume of trade and investment flows across the Atlantic and the declared intention to boost regulatory cooperation and compatibility which is expected to bring the bulk of TTIP’s economic benefits. However, the prospect of concluding such a transatlantic agreement raises many concerns; the public in the European Union and the United States fears that TTIP could undermine existing levels of protection in areas such as health and the environment and impinge on either side’s “right to regulate”. Moreover, questions are being posed as to what TTIP would mean for the multilateral trading system and how it would affect third countries, especially developing countries. Against this backdrop, this article addresses the following issues in relation to TTIP: the vision underlying the negotiations; the European Commission’s negotiating mandate; the structure of the negotiations and their state of play; the Union’s competence for concluding TTIP and whether it is shared with EU Member States; and finally TTIP’s impact on the multilateral trading system and developing countries.

Global Trade Governance at a Time of Great Transformation: Why the WTO Is Inadequate for Defending “Fair Trade”?

2020 ◽  
Vol 114 ◽  
pp. 305-307
Author(s):  
Manjiao Chi
Keyword(s):  
Economic Development ◽  
Fair Trade ◽  
World Trade ◽  
Karl Polanyi ◽  
Trading System ◽  
The Social ◽  
Multilateral Trading System ◽  
The World ◽  
Great Transformation ◽  
Trade And Investment

In his book titled The Great Transformation, Karl Polanyi analyzed the social and political upheavals that took place in England during the rise of the market economy. The period referred by Karl Polanyi has long passed, but the global economic development is standing at a historical crossroad once again, in the era of globalization and free trade. Profound changes in international trade and investment governance have taken place in recent years. Among these changes, the crisis of the multilateral trading system with the World Trade Organization (WTO) at the center is outstanding and significant.

Who Settles Disputes? Treaty Design and Trade Attitudes Toward the Transatlantic Trade and Investment Partnership (TTIP)

2019 ◽  
Vol 73 (4) ◽  
pp. 881-900 ◽  
Author(s):  
Hyeonho Hahm ◽  
Thomas König ◽  
Moritz Osnabrügge ◽  
Elena Frech
Keyword(s):  
Dispute Settlement ◽  
Market Access ◽  
Critical Role ◽  
Public Support ◽  
Trade Agreement ◽  
Dispute Settlement Mechanism ◽  
Design Elements ◽  
Transatlantic Trade ◽  
Nationally Representative ◽  
Trade And Investment

AbstractWhat type of trade agreement is the public willing to accept? Instead of focusing on individual concerns about market access and trade barriers, we argue that specific treaty design and, in particular, the characteristics of the dispute settlement mechanism, play a critical role in shaping public support for trade agreements. To examine this theoretical expectation, we conduct a conjoint experiment that varies diverse treaty-design elements and estimate preferences over multiple dimensions of the Transatlantic Trade and Investment Partnership (TTIP) based on a nationally representative sample in Germany. We find that compared to other alternatives, private arbitration, known as investor-state dispute settlement (ISDS), generates strong opposition to the trade agreement. As the single most important factor, this effect of dispute settlement characteristic is strikingly large and consistent across individuals’ key attributes, including skill levels, information, and national sentiment, among others.

scholarly journals World trade and regional trade orientation in the context of forthcoming transatlantic trade and investment partnership

Equilibrium ◽  
2015 ◽  
Vol 10 (3) ◽  
pp. 105 ◽  
Author(s):  
Elżbieta Czarny ◽  
Paweł Folfas
Keyword(s):  
World Trade ◽  
World Economy ◽  
Dominant Role ◽  
The United States ◽  
The European Union ◽  
Regional Trade ◽  
The World ◽  
Trade And Investment ◽  
The U.S ◽  
The Eu

We analyse potential consequences of the forthcoming Trade and Investment Partnership between the European Union and the United States (TTIP) for trade orientation of both partners. We do it so with along with the short analysis of the characteristics of the third wave of regionalism and the TTIP position in this process as well as the dominant role of the EU and the U.S. in the world economy – especially – in the world trade. Next, we study trade orientation of the hypothetical region created in result of TTIP. We use regional trade introversion index (RTII) to analyze trade between the EU and the U.S. that has taken place until now to get familiar with the potential changes caused by liberalization of trade between both partners. We analyze RTII for mutual trade of the EU and the U.S. Then, we apply disaggregated data to analyze and compare selected partial RTII (e.g. for trade in final and intermediate goods as well as goods produced in the main sectors of economy like agriculture or manufacturing). The analysis of the TTIP region’s orientation of trade based on the historical data from the period 1999-2012 revealed several conclusions. Nowadays, the trade between the EU and the U.S. is constrained by the protection applied by both partners. Trade liberalization constituting one necessary part of TTIP will surely help to intensify this trade. The factor of special concern is trade of agricultural products which is most constrained and will hardly be fully liberalized even within a framework of TTIP. Simultaneously, both parties are even now trading relatively intensively with intermediaries, which are often less protected than the average of the economy for the sake of development of final goods’ production. The manufactured goods are traded relatively often as well, mainly in consequence of their poor protection after many successful liberalization steps in the framework of GATT/WTO. Consequently, we point out that in many respects the TTIP will be important not only for its participants, but for the whole world economy as well. TTIP appears to be an economic and political project with serious consequences for the world economy and politics.

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