scholarly journals Understanding the ‘crisis of the institution’ in the liberal trade order at the WTO

2021 ◽  
Vol 97 (5) ◽  
pp. 1521-1540
Author(s):  
Aseema Sinha
Keyword(s):  
Global Economy ◽  
Global Trade ◽  
Power Dynamics ◽  
World War ◽  
Global Power ◽  
The Us ◽  
Trade Politics ◽  
Liberal Trade ◽  
Emerging Powers ◽  
The Eu

Abstract The liberal trade order is in crisis. I argue that the origins of the current crises lie in the underlying tension which exists in the World Trade Organization (WTO), magnified by a churning in global power dynamics. A dilemma at the heart of the WTO between two important goals of representativeness and effectiveness means that both goals cannot be pursued at the same time. Now, this inherent tension is being magnified by power shifts in the global economy most evident in the rise of emerging powers within the WTO, who demand more representation, and the retreat by the US towards a more inward-looking orientation; both together damage effectiveness. Simultaneously, new powers such as China and India are defending a ‘reformed multilateralism’ combined with selective protectionism with varying capacity. These shifts are transforming previous ‘crises within institutions’ into a ‘crisis of institutions’ at the WTO, wherein the rules of the game, ideas of free trade and the legitimacy of the WTO are under threat. Global trade politics is seeing new coalitions at the WTO, as emerging powers craft their own rise, US defends sovereignty and trade protections, and launches a challenge to China's rise, and some established powers (the EU for example) seek to reform it. The new global trade politics is walking on two uneven legs and creating winners and losers and new ways of managing the transitional trading order as did the creation of the post-world war order.

La “neutralidad” chilena en la Segunda Guerra Mundial (1939-1943): Un análisis historiográfico con énfasis en la literatura sobre las relaciones Chile-Japón

2016 ◽  
pp. 95
Author(s):  
Pedro Iacobelli Delpiano
Keyword(s):  
World War Ii ◽  
Vice President ◽  
Second World War ◽  
Power Dynamics ◽  
Diplomatic Relations ◽  
World War ◽  
International History ◽  
Roosevelt Administration ◽  
The Us ◽  
Second World

ResumenLa literatura sobre la historia internacional de Chile durante la Segunda Guerra Mundial ha centrado el debate en torno al juego de presiones ejercidas por los Estados Unidos hacia los gobiernos radicales de Jerónimo Méndez Arancibia y Juan Antonio Ríos Morales para conseguir que Chile se sumara a la política continental contra las fuerzas del Eje. La neutralidad chilena fue interpretada como una actitud traicionera por los estadounidenses y en un triunfo por los países del Eje durante 1941 a 1943. Este artículo introduce el debate y busca presentar las posibilidades historiográficas al incluir a Japón, tanto como actor relevante en la política chilena como receptor de la “neutralidad” chilena en el periodo.Palabras clave: Chile, Japón, Segunda Guerra Mundial, Estados Unidos, historiografíaThe Chilean “Neutrality” in World War II (1939-1943): A historiographical analysis focused on the literature of the diplomatic relations between Chile and JapanAbstractThe literature about Chile´s international history during World War II has heavily laid on the power dynamics between the US and the Chilean radical governments of vice-president (interim) Jerónimo Méndez Arancibia and president Juan Antonio Rios Morales. Since the Roosevelt administration sought to secure the rupture of diplomatic relations between Chile and the Axis powers, Santiago´s refusal to break relations was understood as treason by the US and as a diplomatic success by the Axis powers during 1941-1943.This paper delves into the historiographical possibilities in including Japan, either as a relevant actor in the Chilean politics and as receptor of the newsabout Chile´s neutrality.Keywords: Chile, Japan, Second World War, United States, historiographyA “neutralidade” chilena na segunda guerra mundial(1939-1943): uma análise historiográfica, com ênfase naliteratura sobre as relações Chile-JapãoResumoA literatura sobre a história internacional do Chile durante a Segunda Guerra Mundial tem-se centrado no debate em torno ao jogo de pressões exercidas pelos Estados Unidos aos governos radicais de Jerónimo Méndez Arancibia e Juan Antonio Rios Morales, para conseguir que o Chile pudesse se somar a política continental contra as forças do Eixo. A neutralidade chilena foi interpretada como uma atitude traiçoeira pelos norte-americanos e uma vitória para os países do Eixo durante 1941 a 1943. Este artigo introduz o debate e procura a presentar as possibilidades historiográficas ao incluir ao Japão, tanto como um ator relevante na política chilena como o destinatário da “neutralidade” chilena no período.Palavras-chave: Chile, Japão, Segunda Guerra Mundial, Estados Unidos, historiografia

The Evolution of APEC and ASEM: Implications of the New East Asian Bilateralism

2005 ◽  
Vol 4 (2) ◽  
pp. 233-262 ◽  
Author(s):  
Min Gyo Koo ◽  
Vinod Aggarwal
Keyword(s):  
East Asia ◽  
Global Economy ◽  
East Asian ◽  
Northeast Asia ◽  
Economic Uncertainty ◽  
Asian Countries ◽  
Trading Bloc ◽  
The Us ◽  
Market Driven ◽  
The Eu

AbstractThe traditional institutional equilibrium in East Asia—the embrace of the WTO at the multilateral level and a focus on market-driven, informal integration at the sub-multilateral level—is under heavy strain. Increasingly, East Asian countries are pursuing greater institutionalisation at the sub-multilateral level, weaving a web of preferential arrangements in response to similar strategies pursued by the US and the EU. This article examines the likely path of trading arrangements in Northeast Asia, its implications for East Asia and the future of APEC and ASEM. We propose an institutional bargaining game approach, focusing on goods, countries' individual bargaining situations and the fit with existing arrangements, and allowing an exploration of the evolution of trading arrangements in East Asia. An East Asian trading bloc has both benign and pernicious elements, depending on the ideas and beliefs held by regional actors. The contribution of a prospective East Asian bloc to APEC and ASEM primarily depends on the balance of interests between the US and the EU concerning East Asia. In view of the tremendous political and economic uncertainty in the global economy, the path to freer trade in Northeast Asia, East Asia and the world system is likely to be a bumpy one.

scholarly journals CSDP: A Balancing Strategy against the United States?

2019 ◽  
Vol 6 (2) ◽  
pp. 128
Author(s):  
Yingqin Wang
Keyword(s):  
United States ◽  
European Community ◽  
Economic Performance ◽  
The United States ◽  
Second World War ◽  
New Wave ◽  
World War ◽  
The Us ◽  
Second World ◽  
The Eu

<em>In the aftermath of the Second World War, European integration progressed rapidly. Despite economic performance, the European community is far from playing a major role in security and defense. The catalyst for a European defense policy is the war in Yugoslavia, which shows that Europeans are dependent on Americans. Thus, the EU has the CSDP and has conducted many military and civilian operations. Yet a new wave of academic studies, launched by proponents of American neorealism, argues that the EU is engaged in an attempt to “balance” the US by exploiting the CSDP. By studying European history in terms of security, we find that the balancing theory can not be justified.</em>

scholarly journals The Shaping of EU-Mercosur Relations: From Altruism to Pragmatism and Liberalism to Illiberalism

2012 ◽  
Vol 1 (1) ◽  
pp. 1-31 ◽  
Author(s):  
Carolyn Marie Dudek
Keyword(s):  
Latin America ◽  
Latin American ◽  
Regional Integration ◽  
Development Programs ◽  
The Us ◽  
Trade Regimes ◽  
Eu Policies ◽  
Eu Competition Policy ◽  
Liberal Trade ◽  
The Eu

Deeply-embedded norms of liberalism and protectionism alongside EU policies focusing on promoting development and regional integration have shaped EU-Mercosur relations.  These stand in stark contrast to the policies of the US, the historic hegemon in the region. This paper utilizes historical institutionalism to understand how the liberal tenets of EU competition policy and the protectionism of Common Agricultural Policy (CAP) have affected EU-Mercosur relations. Particular foci include Spain’s role in spearheading efforts to promote EU-Latin American relations and the way EU competition policies directed against monopolies in Europe spurred increased investment in Latin America, especially the Southern Cone.  The latter prompted the EU to forge closer ties with Mercosur, encouraged cooperation and development programs and spurred regional integration and liberal trade regimes in Latin America.

The European Union as a Major Trading Player in the Global Economy

2020 ◽  
pp. 45-68
Author(s):  
Zuzana Kittová
Keyword(s):  
European Union ◽  
World Trade ◽  
Global Economy ◽  
Global Trade ◽  
The European Union ◽  
Trading Partners ◽  
Balance Development ◽  
Main Factors ◽  
The Eu

This chapter critically evaluates the position of the EU within the global trade and developments of its position from a long-term perspective, and identifies the main factors behind these developments. With this aim, both the intra-EU trade and the extra-EU trade are analyzed, including the development of export and import values, along with the trade balance development and the structure of the intra-EU and extra-EU trade flows (main trading partners and main product groups). Furthermore, the development of the EU's share on the global trade is studied in comparison to the share of other main world trade players. The chapter examines the main factors that influence the position of the EU within the global trade. Finally, the prediction of the EU trade and of its position in the global economy are developed.

scholarly journals What's behind GM food trade disputes?

2005 ◽  
Vol 4 (2) ◽  
pp. 203-228 ◽  
Author(s):  
LEE ANN JACKSON ◽  
KYM ANDERSON
Keyword(s):  
Global Economy ◽  
Dispute Settlement ◽  
Empirical Studies ◽  
The United States ◽  
The European Union ◽  
Trade Disputes ◽  
Gm Food ◽  
Wto Dispute Settlement ◽  
The Us ◽  
The Eu

Over the past decade, the United States (US) and the European Union (EU) have implemented widely divergent regulatory systems to govern the production and consumption of genetically modified (GM) agricultural crops. In the US, many GM varieties have been commercially produced and marketed, while in the EU few varieties have been approved: a de facto moratorium limited EU production, import and domestic sale of most GM crops from late 1998 to April 2004, and since then strict labelling regulations and a slow approval process are having a similar effect. The EU policies have substantially altered trade flows and led in September 2003 to the WTO establishing a WTO Dispute Settlement panel to test the legality of European policy towards imports of GM foods. This paper seeks to better understand the economic forces behind the different regulatory approaches of the US and the EU. It uses a model of the global economy (GTAP) to examine empirically how GM biotechnology adoption would affect the economic welfare of both adopting and non-adopting countries in the absence of alternative policy responses to this technology, and in their presence. These results go beyond earlier empirical studies to indicate effects on real incomes of farm households, and suggest the EU moratorium on GM imports helps EU farmers even though it requires them to forego the productivity boost they could receive from the new GM biotechnology.

scholarly journals Bringing Ukraine Back on Track

2020 ◽  
Vol 4 (1) ◽  
pp. 77-90
Author(s):  
Hilmar Þór Hilmarsson
Keyword(s):  
Global Economy ◽  
Sustainable Growth ◽  
The West ◽  
Eu Membership ◽  
The Us ◽  
Vested Interests ◽  
Military Engagement ◽  
The Military ◽  
The Eu

Ukraine’s history has been a turbulent one, and currently the country is in a crisis. The purpose of the article is to discuss how Ukraine can move away from the current East-West competition that poses a risk of dividing the country into two. What does it take to move a united Ukraine forward? How can Ukraine progress economically, politically and improve its security profile? The methodology used in the article is the case study method and it often compares Ukraine’s performance with Poland, a country of a similar size in terms of population, land mass, and located in geographic proximity. The article argues that more inclusive and sustainable growth in Ukraine will require increased productivity of the economy, more benefits from international trade and investment supported by closer integration into the global economy, as well as a well-governed domestic economy with stronger institutions to withstand pressures from vested interests. The US, EU and NATO must make more efforts to help Ukraine resolve the current conflict with Russia, which in turn needs to stop the military engagement in Ukraine to let it recover and benefit from integration and cooperation with the West. NATO membership and full EU membership should not be considered for now, but Ukraine should be an independent and neutral buffer state between the East and the West, with full access to the EU common market. Ukraine needs increased financial support, especially from the EU, US, IMF and the World Bank for its reconstruction.

scholarly journals Future In The Past: The Problem Of Values In Transatlantic Relations

2006 ◽  
Vol 11 ◽  
pp. 9-29
Author(s):  
Ana-Maria Stoian
Keyword(s):  
Transatlantic Relations ◽  
Second World War ◽  
Comparative Approach ◽  
World War ◽  
The Past ◽  
Norms And Values ◽  
The Us ◽  
The Common ◽  
Second World ◽  
The Eu

This paper discusses the importance of norms and values in the transatlantic relations. Beginning with the values that shaped the transatlantic partnership at the end of the Second World War, the analysis questions the redefinition of transatlantic values at the beginning of the 21st century, emphasizing patterns of convergence and divergence. Using a comparative approach, the article presents values, norms and principles explaining the domestic and international behaviour of the US and the EU. The main argument of the paper is that there are not two different sets of values, a European and an American one, but a single transatlantic set of values (a Western one), with some distinct elements and approaches. There is not a great departure from the common matrix of values so that to endanger the US-European relationship indefinitely.

scholarly journals The Impact of the COVID-19 Pandemic on the Macroeconomic Aggregates of the European Union

ECONOMICS ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 91-108
Author(s):  
Aleksandar Đukić ◽  
Mirjana Štaka ◽  
Dajana Drašković
Keyword(s):  
Economic Crisis ◽  
Global Economy ◽  
Economic Losses ◽  
The European Union ◽  
The Us ◽  
Economic Migration ◽  
The One ◽  
The Impact ◽  
The Eu ◽  
Macroeconomic Aggregates

Abstract Economic experts’ predictions of a slowdown in the EU’s global economy and economic growth in the year 2020 were based on various risks and uncertainties existing on a world scale, ranging from the US-China trade war, traditionally strained relations of the EU and the US on the one hand and the Russian Federation on the other, all the way to BREXIT and economic migration to developed EU countries. However, the COVID-19 pandemic has further aggravated those forecasts, so that the entire EU is recording a historic decline in all macroeconomic aggregates. The beginning of the pandemic in the EU was accompanied by the complete border lockdown of the entire Union, which greatly affected the economies of the member states. The EU is experiencing a decline of both real and nominal GDP, declining incomes, employment decline and unemployment increase. This paper will investigate the impact of COVID-19 onto GDP, unemployment, and EU public debt. Correlation-regression analysis confirms the positive correlation between these variables and the economic crisis caused by the COVID-19 pandemic. In addition to the economic crisis, a crisis of EU health systems, which requires huge economic investments. A more prominent economic recovery is hard to expect until the global pandemic ends. One thing is for certain, this economic crisis will continue in 2021, whereby a more significant recovery is expected only in the year 2022. Certainly, it will take years to make up for the economic losses caused by the pandemic.

scholarly journals Secondary Sanctions: A Weapon out of Control? The International Legality of, and European Responses to, US Secondary Sanctions

2020 ◽  
Author(s):  
Tom Ruys ◽  
Cedric Ryngaert
Keyword(s):  
Foreign Policy ◽  
Adverse Effects ◽  
International Law ◽  
Global Economy ◽  
Economic Sanctions ◽  
Foreign Firms ◽  
Policy Agenda ◽  
Customary International Law ◽  
The Us ◽  
The Eu

Abstract The US is increasingly weaponizing economic sanctions to push through its foreign policy agenda. Making use of the centrality of the US in the global economy, it has imposed ‘secondary sanctions’ on foreign firms, which are forced to choose between trading with US sanctions targets or forfeiting access to the lucrative US market. In addition, the US has penalized foreign firms for breaching US sanctions legislation. In this contribution, it is argued that the international lawfulness of at least some secondary sanctions is doubtful in light of the customary international law of jurisdiction, as well as conventional international law (eg, WTO law). The lawfulness of these sanctions could be contested before various domestic and international judicial mechanisms, although each mechanism comes with its own limitations. To counter the adverse effects of secondary sanctions, third states and the EU can also make use of, and have already made use of, various non-judicial mechanisms, such as blocking statutes, special purpose vehicles to circumvent the reach of sanctions, or even countermeasures. The effectiveness of such mechanisms is, however, uncertain.

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