The future of global trade and the WTO

foresight ◽  
2014 ◽  
Vol 16 (2) ◽  
pp. 109-125 ◽  
Author(s):  
Jean-Pierre Cling
Keyword(s):  
International Trade ◽  
World Trade ◽  
World Economy ◽  
Trade Agreements ◽  
Power Relationship ◽  
Trade Integration ◽  
Regional Trade ◽  
Content Type ◽  
Multilateral Trade ◽  
The World

Purpose – The global governance of trade is in a deadlock and the WTO is suffering from a long standing crisis of legitimacy. This paper aims to analyse the main issues which might influence the governance of world trade from now until 2030 and present quantitative projections of international trade. Design/methodology/approach – The research on the main issues which might influence the governance of world trade from now until 2030 draws on a detailed analysis of the WTO and trade policies. Four scenarios of the world economy are presented, which are derived from the international AUGUR research project “Challenges for Europe in the world in 2030” coordinated by Paris Nord University. The analysis takes into account econometric forecasting of world trade conducted in the framework of this project. Findings – First, the failure of the Doha Round of multilateral trade negotiations to reach its ambitious agenda derives from the discrepancy between the governance of world trade and the new power relationship prevailing in the world economy, with new emerging powers (China, India, etc.) rapidly increasing their share of world trade. Second, the continuous restructuring of world trade and economy, which goes together with new forms of globalization, will increase pressure for a profound reform of the governance of world trade in the next few years. Research limitations/implications – This paper calls for a reform of world trade governance, especially of the missions of WTO within a renovated economic world order. Future research could investigate more deeply the potential for regional trade integration, which is reinforced by international production networks. Regional trade agreements might be an increasing alternative to multilateral trade agreements. Originality/value – This paper brings new ideas by raising the issue of the governance of world trade using a prospective approach, with the aim to identify the key channels through which international trade integration will impact the world economy. This study bases its analysis on potential scenarios from now on until 2030, each of these scenarios corresponding to a specific institutional configuration.

COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS – PACIFIC PARTNERSHIP (TPP – 11): PAST, PRESENT AND FUTURE?

2019 ◽  
pp. 5-18
Author(s):  
Vladimir Yu. Salamatov ◽  
Nataliia M. Galkina
Keyword(s):  
World Economy ◽  
Bilateral Trade ◽  
Trade Agreements ◽  
Regional Trade Agreements ◽  
Regional Trade ◽  
Trade Relations ◽  
Global Trend ◽  
The World ◽  
The Common ◽  
Partnership Agreement

The article considers the global trend towards regional trade agreements (RTA). The authors note that in addition to the common bilateral RTAs, countries conclude multilateral regional trade agreements. In particular, the article examines changes in the world economy, which occur under the influence of the mega-regional trade agreements (MRTA) formation. An example of the MRTA is the Trans-Pacific Partnership Agreement (TPP) and its possible impact onRussiais discussed in the present article. The authors discuss the stages of TPP development, its goals, provisions, innovations and prospects. The article analyses an example of a country’s withdrawal from an agreement, its’ consequences and possible impact on the country itself and other signatory countries to the agreement. The article points out the differences between TPP and TPP-11. Inparticular, the article discusses the possible impact of the TPP-11 onRussia. Trade relations betweenRussiaand TPP-11 signatory countries are considered, and key markets among TPP-11 countries are identified. The article highlights the importance ofRussia's rapid response to the possible consequences of the TPP-11, including the possible conclusion of bilateral trade agreements between the EAEU, whereRussiais a member, and potential partners from TPP-11 countries.

scholarly journals Trade Agreements, Competition, and the Environment: Gridlock at the Crossroads

1994 ◽  
Vol 26 (1) ◽  
pp. 97-107 ◽  
Author(s):  
James L. Seale ◽  
Gary F. Fairchild
Keyword(s):  
International Trade ◽  
Natural Resources ◽  
World Economy ◽  
Uruguay Round ◽  
Task Force ◽  
Trade Agreements ◽  
Southern Region ◽  
Agricultural Commodities ◽  
Trade And The Environment ◽  
The World

In the 1980s, few agricultural economists, particularly from the Southern Region, published works on international trade or the globalization of the world economy. The initiation of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) in 1986 stimulated such writings as the Southern Agriculture in a World Economy series by the Southern Region Extension International Trade Task Force (Rosson et al.). An even smaller number of agricultural economists were writing on policy linkages between trade and the environment. An early effort to remedy this situation was the Workshop on Linkages between Natural Resources and International Trade in Agricultural Commodities (Sutton).

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.

Regional pacts to facilitate global agriculture trade

2015 ◽  
Keyword(s):  
World Trade ◽  
Agricultural Sector ◽  
Trade Agreements ◽  
Agricultural Trade ◽  
Agricultural Products ◽  
Regional Trade ◽  
Content Type ◽  
Food Standards ◽  
Global Agriculture ◽  
The Impact

Subject The impact of preferential trade agreements on global agricultural trade. Significance Bilateral and regional trade agreements have proliferated since the late 1980s. They account for over 50% of world trade and their share is increasing, according to OECD estimates. These agreements are particularly significant for agricultural trade, principally because this sector has the most to gain from low tariff access to markets. Yet they raise the question of whether such agreements are the most effective instruments for reducing barriers to global agricultural trade. Impacts Agricultural products such as sugar and dairy are likely to continue appearing frequently on the 'sensitive products' list in PTAs. Japan's aversion to opening its agricultural sector represents a major hurdle to the TPP. The European Parliament will probably reject any TTIP agreement that requires abandoning the 'precautionary principle' on food standards.

Global Sourcing and Global Manufacturing Competitiveness

Paradigm ◽  
1998 ◽  
Vol 1 (2) ◽  
pp. 100-108
Author(s):  
S.K. Sachdeva
Keyword(s):  
World Trade ◽  
Global Economy ◽  
Major Change ◽  
Trade Agreements ◽  
Global Sourcing ◽  
Regional Trade ◽  
Global Manufacturing ◽  
Local Resources ◽  
The World ◽  
Manufacturing Competitiveness

We are at the beginning of a major change in global economy. The decade will see increasing polarisation of super regional trade agreements. With increasing world trade great opportunities are developing thrust on global manufacturing competitiveness and formation of international, multinational and transnational firms percolating various aspects of glolml sourcing for achieving internationalisation in their operations with utilisation of local resources and creating source partnering throughout the world.

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