scholarly journals Sovereignty, Economic Autonomy, the United States, and the International Trading System: Representations of a Relationship

2004 ◽  
Vol 15 (4) ◽  
pp. 651-676 ◽  
Author(s):  
D. Sarooshi
Keyword(s):  
United States ◽  
The United States ◽  
Trading System ◽  
International Trading ◽  
International Trading System

scholarly journals Importance of «weak» states during conflicts: Portuguese trade with the United States during the Revolutionary and Napoleonic wars

2011 ◽  
Vol 29 (3) ◽  
pp. 393-423 ◽  
Author(s):  
Cristina Moreira ◽  
Jari Eloranta
Keyword(s):  
United States ◽  
The United States ◽  
International Markets ◽  
Napoleonic Wars ◽  
Weak States ◽  
Trading System ◽  
Total War ◽  
Trade Relations ◽  
Peninsular War ◽  
International Trading

AbstractThis paper focuses on the analysis of weak states in the international trading system during the Revolutionary and Napoleonic crises, especially on Portugal's trade relations with the United States. We argue that the previous studies of the trade flows during these conflicts have not paid enough attention on smaller actors. Even though the Peninsular War caused severe disruption of agricultural production in Portugal, the United States, despite its strained relations with an ally of Portugal, Great Britain, became a key supplier for the Portuguese market. Clearly, the threatened position of the peninsula, and the need to supply the troops, awarded the Portuguese some room to manoeuvre in the international markets. Total war was not a constraint for all states — economic necessities trumped political and diplomatic concerns during the era of the first real-world wars. This situation was a temporary one, only to change after the conflict.

Japan and the Theory of International Leadership

1990 ◽  
Vol 42 (2) ◽  
pp. 184-209 ◽  
Author(s):  
Richard Rosecrance ◽  
Jennifer Taw
Keyword(s):  
United States ◽  
The United States ◽  
Trading System ◽  
International Leadership ◽  
Static Game ◽  
International Trading ◽  
System 2 ◽  
Game Theoretic ◽  
To Come ◽  
Optimal Tariff

This essay makes four points: (1) despite the assertions of some of their proponents, static game-theoretic and optimal-tariff arguments suggest that states should not undertake hegemonic responsibilities to maintain an open trading system; (2) hegemonic states have, in fact, cooperated with others, despite risks to themselves; (3) Japan, the hegemonic successor or condominial associate of the United States in the years to come, is also likely to cooperate to prevent the collapse of the international trading system. This means (4) that hegemonic or near-hegemonic powers have either acted irrationally or that their calculations have rested upon a different and more dynamic rational foundation. Specifically, systemic as well as domestic considerations have influenced their thinking and determined their policies. A major creditor power like Japan must find means of allowing others to earn surpluses in its own market or of providing assistance on concessional terms.

Three Wrongs Do Not Make a Right: The Conundrum of the US Steel and Aluminum Tariffs

2019 ◽  
Vol 18 (3) ◽  
pp. 481-501
Author(s):  
YONG-SHIK LEE
Keyword(s):  
United States ◽  
National Security ◽  
The United States ◽  
The European Union ◽  
Trading System ◽  
The Us ◽  
International Trading ◽  
The Stability ◽  
Vast Range ◽  
Trump Administration

AbstractIn March 2018, the United States enacted tariff increases on a vast range of imported steel and aluminum products. The Trump administration cited national security concerns as the justification, claiming an exception under GATT Article XXI. In response to these tariffs, several WTO Members, including the European Union, Canada, Mexico, China, Russia, and Turkey, adopted their own tariffs against imports from the United States, justifying their tariffs under the WTO Agreement on Safeguards. Other Members, such as South Korea, Brazil, and Argentina opted for quota agreements on these exports with the United States in exchange for exemption from the tariffs. This article argues that none of these measures is consistent with WTO rules. The sweeping tariffs that the United States have adopted, the retaliatory measures that several Members have implemented, and the bilateral quota agreements that three Members concluded with the United States are indeed ‘three wrongs’ that do not make a right, but rather endanger the stability of the international trading system under WTO legal disciplines.

scholarly journals Bridging nestedness and economic complexity in multilayer world trade networks

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Zhuo-Ming Ren ◽  
An Zeng ◽  
Yi-Cheng Zhang
Keyword(s):  
The United States ◽  
Alternative Measure ◽  
Product Complexity ◽  
Trading System ◽  
Trade Networks ◽  
Economic Complexity ◽  
International Trading ◽  
Nested Structure ◽  
Common Understanding ◽  
International Trading System

AbstractUnderstanding the complexity of international trading is critical for a variety of issues ranging from quantifying the competitiveness of individual nations to forecasting the collective evolution of the world economy. Despite the significant progress made in this direction, the international trading system is mainly modeled with a single network in the previous works such as the monopartite product space network and the bipartite country-product network to capture economic complexity. In order to better capture the more detailed dynamics, we characterize the international trading system with a multilayer network with each layer representing the transnational trading relations of a product. This framework immediately reveals the nested structure in each layer and accordingly allows us to develop an alternative measure of the complexity of products. The metric provides a ranking of products’ complexity more consistent with common understanding. The nested structure of a network layer seems to correlate with the asymmetric export relations resulted from the technology barriers, and the evolution of product complexity indicates that the growth of product nestedness is faster than the relevance decay. Finally, we remark a comparison of trade competitive by nestedness between China and the United States to explore the evolution of the economy industries, and the aggregated nestedness index can predict a nation’s future economic growth.

Japan's Role in Asia-Pacific Cooperation

1991 ◽  
Vol 513 (1) ◽  
pp. 25-37 ◽  
Author(s):  
SABURO OKITA
Keyword(s):  
United States ◽  
Economic Growth ◽  
International Economic ◽  
The United States ◽  
Growth Potential ◽  
The Other ◽  
Asia Pacific ◽  
Asia Pacific Economic Cooperation ◽  
Rapid Economic Growth ◽  
International Trading

The Asia-Pacific countries achieved rapid economic growth with the flying-goose model in the 1980s, growth buttressed by export-oriented development strategies and the policy culture in these countries. While Japan and the other Asia-Pacific countries still have strong growth potential, many problems remain, including trade imbalances with the United States and the rise of protectionism there, the Asia-Pacific economies' vulnerability, and the need to consolidate the infrastructure for growth. It is imperative that Japan contribute to the development of the region by responding effectively to these issues and that it strengthen the international trading arrangements by promoting Asia-Pacific cooperation premised on openness. Given the region's great internal diversity, Asia-Pacific economic cooperation can well serve as a model for international economic coordination.

scholarly journals Joint Initiatives Instead of Multilateralism: A New Reality for the WTO?

2021 ◽  
Vol 14 (5) ◽  
pp. 167-186
Author(s):  
O. V. Biryukova
Keyword(s):  
South Africa ◽  
Decision Making ◽  
Trade Agreements ◽  
Active Part ◽  
Trading System ◽  
Joint Statement ◽  
International Trading ◽  
Near Future ◽  
International Trading System

The article examines the complexities of the negotiation function of the WTO, in which consensus in decision-making plays an important role. The author systematizes the possibilities and limitations for incorporating the results of plurilateral negotiations (i.e., with a limited number of participants) held within the framework of the so-called joint statement initiatives into the organization's law. The article also analyzes the prospects for integrating specific joint initiatives (internal regulation in services, simplification of investments in development, e-commerce) into the WTO system. The article emphasizes that despite standard features, all initiatives are unique in their content, format, and history and are at different stages of readiness, for Russia, which takes an active part in these joint initiatives, bringing the negotiations to a conclusion. The article criticizes joint initiatives from their primary opponents (India and South Africa), who insist that plurilateral initiatives' participation ignores existing multilateral mandates reached by consensus. Thus, they destroy the multilateral system.The purpose of the article is to review conceptual and practical approaches to forming new trade rules in the WTO system in the context of the multilateral crisis. The author concludes that plurilateral agreements can become a way out of the crisis in the negotiation function of the WTO, as well as the basis for future trade agreements in the system of organization. However, for plurilateralism to be effective and sustainable, it must be linked to multilateral norms and principles. Any plurilateral approach must allow flexibility in forming the basis for negotiating trade rules at multilateral level. It seems that if in the near future the WTO does not take decisive actions to adjust the rules and procedures for the new agreements, the prospects for advancing negotiations and maintaining the relevance of the leading institution of the international trading system will become even bleaker.

Laws and Regulations on Proprietary Trading System (PTS) in Japan

2009 ◽  
pp. 1289-1308
Author(s):  
Motoaki Tazawa
Keyword(s):  
United States ◽  
Information Technologies ◽  
The United States ◽  
Stock Exchanges ◽  
Trading System ◽  
Electronic Communications ◽  
Trading Systems ◽  
Proprietary Trading ◽  
Securities Business ◽  
The U.S

In order to improve convenience for investors through competition among stock exchanges, operation of Proprietary Trading Systems (PTS) was authorized as a form of securities business under the Securities and Exchange Act. The Japanese PTS is equivalent to ATS (Alternative Trading System), ECN (Electronic Communications Network) in the United States and MTF (Multilateral Trading Facilities) under MiFID in the EU. In 1998, ATS and ECN had already started in the United States and Japan’s PTS followed the U.S. model. Telecommunication and information technologies and computer technologies made PTS possible, and PTS makes the border between the market and brokers ambiguous. Traditional regulations on broker-dealers and stock exchanges will inevitably be reviewed and regulations on securities markets will have to be reformed.

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