Opportunities for LDC agriculture in the world trading system and the impact of the Uruguay Round Agreement

1997 ◽  
pp. 49-62 ◽  
Keyword(s):  
Uruguay Round ◽  
Trading System ◽  
The World ◽  
World Trading System ◽  
The Impact ◽  
Uruguay Round Agreement

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.

Conclusion

2020 ◽  
pp. 315-322
Author(s):  
Douglas A. Irwin
Keyword(s):  
International Trade ◽  
World Trade ◽  
Trade Policies ◽  
Trading System ◽  
The World ◽  
World Trading System ◽  
And Function ◽  
Open Markets ◽  
The Impact ◽  
Role And Function

This chapter concludes that international trade and trade policies are frequently the object of condemnation rather than approbation. It explains how the condemnation are often the result of misconceptions about the benefits of international trade, the impact of trade policies, and the role and function of the World Trade Organization (WTO). Though the last few decades have been marked by a general reduction in trade barriers, the matter is not settled because the pressures to weaken the commitment to open markets never abate. The chapter emphasizes on difficult policy choices at the intersection of trade policy and climate change that could hold key battles over the world trading system in coming years. It also highlights the several benefits of world trade and the contribution of trade to the welfare and prosperity of billions of people around the world.

Digital Trade, E-Commerce, the WTO and Regional Frameworks

2019 ◽  
Vol 18 (S1) ◽  
pp. S1-S7 ◽  
Author(s):  
MERIT E. JANOW ◽  
PETROS C. MAVROIDIS
Keyword(s):  
World Trade ◽  
Industrial Revolution ◽  
Uruguay Round ◽  
Information Economy ◽  
Trading System ◽  
Fourth Industrial Revolution ◽  
The Us ◽  
The World ◽  
Modern Business ◽  
World Trading System

The digitalization of trade is a reality, and yet the regulation of the world trading system as embedded in the World Trade Organization (WTO) only tangentially, if at all, touches upon this issue. True, digitalization of the economy, the fourth industrial revolution as it is colloquially referred to, is a recent phenomenon, and to some extent post-dates the conclusion of the Uruguay round agreements (1994). True also, however, is the reality that the world trading system has shown a remarkable inability to adjust to modern business realities in its multilateral rule architecture. To the extent these transformations are being reflected in new rules, they are being introduced in regional or bilateral frameworks, albeit in an incomplete fashion. It is also the case that the world is witnessing several different regimes around data and information economy developing in the world today – most notably in the US, Europe, and China. As always, part of the reason that international frameworks have not been born stems from the fact that international rules rarely occur before domestic regulatory and legal regimes are well developed.

scholarly journals Living with China—Locally and Globally (The Mahbub Ul Haq Memorial Lecture)

2012 ◽  
Vol 51 (4I) ◽  
pp. 37-58 ◽  
Author(s):  
L. Alan Winters
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Policy Issue ◽  
Data Availability ◽  
Memorial Lecture ◽  
Trading System ◽  
Middle Income ◽  
The World ◽  
World Trading System ◽  
The Impact

This paper considers the impact of the economic rise of China on both firms and competition in middle income countries (locally) and on the world trading system (globally). It examines the size and nature of the shock that China has administered to the world economy, the way in which firms and export sectors in one middle income country have accommodated that rise, some of the frictions and adjustment strains that China’s rise pose for the world trading system, and two cases which I believe to pose threats to the world trading system if the parties involved do not behave with great care. I will argue that integrating China into the global economy in a way that benefits nearly all presents perhaps the most important international trade and trade policy issue of the present era. The shock that the emergence of China is administering to the world economy is larger than any seen previously—and by a large margin. While the huge increase in global production that China has generated brings widespread benefits, there are inevitably stresses and indeed possibly some losers. I start to identify these in two exercises that are reported here, both, for reasons of data availability, carried out on Mexico. One looks at firm adjustment and the other at export margins. I then discuss China’s role in the wider trading system—the WTO and in global imbalances—and finally identify two areas in which the poor handling of the integration of China into the world economy could derail the world trading system. I mention these latter issues not as inevitable disasters but as issues that are sensitive enough to explode if not handled delicately. An important role of economists in policy-making is to discourage inappropriate policies and descent into trade war as a result of the competition that China brings would certainly count as ‘inappropriate’. It is as a warning, no more, that I address them in this paper.

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