Globalization of Regionalism: Challenges and Risks for Russia

2015 ◽  
pp. 5-13
Author(s):  
V. Obolenskiy
Keyword(s):  
International Trade ◽  
Regional Integration ◽  
Level Structure ◽  
Positive Influence ◽  
Most Favored Nation ◽  
Negative Effects ◽  
Multilateral Trade ◽  
The World ◽  
World Economic ◽  
Trade And Investment

TЕhe article deals with the intensive development of the process of regionalization of the world trade and analyzes grounds for this process. It traces the evolution of regional trade agreements which account for the constant growth of mutual deliveries. The author pays attention to the transformation of regionalism which acquires step by step transcontinental character. The article states that the regional integration apart from the positive influence on trade and investment flow also has negative effects, namely erosion of the regime of most-favored-nation treatment and threats of the beginning of chaos in the international trade and investment exchange. The author studies projects of the creation of global superblocks of the integration type – Transatlantic, Eastern Asiatic, Asiatic -Pacific. In author’s opinion, their emergence will lead to radical changes of the institutional configuration of the world economic space which will turn into a two-level structure. On the first level rules of the multilateral trade system (WTO) will be applied. On the second level principles and regulations fixed by global multilateral trade and economic agreements with participation of all leaders of the international trade will act. The author concludes that Russia has to choose optimal direction of its participation in the global economic. Correspondingly, attention is paid to the problems and risks inherent in its connection with transcontinental trade and economic agreements which are objects of multilateral negotiations at the present time. In particular, the author states that in case of establishment of “mild” forms of integration in the Asiatic -Pacific or European directions Russia will have to open – completely or to a great extent – its domestic market for goods from the countries of the regions mentioned. The losses caused by such a disclosure might outweigh the benefits from liberalization of the access to the markets of partner countries.

Bilateral Treaties and The Most-Favored-Nation Clause: The Myth of Trade Liberalization in the Nineteenth Century

2008 ◽  
Vol 60 (2) ◽  
pp. 147-188 ◽  
Author(s):  
Olivier Accominotti ◽  
Marc Flandreau
Keyword(s):  
International Trade ◽  
Trade Liberalization ◽  
Empirical Evidence ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Point Of View ◽  
Most Favored Nation ◽  
The World ◽  
Most Favored Nation Clause ◽  
Bilateral Treaties

Textbook accounts of the Anglo-French trade agreement of 1860 argue that it heralded the beginning of a liberal trading order. This alleged success holds much interest from a modern policy point of view, for it rested on bilateral negotiations and most-favored-nation clauses. With the help of new data on international trade (the RICardo database), the authors provide empirical evidence and find that the treaty and subsequent network of MFN trade agreements coincided with the end of a period of unilateral liberalization across the world. They also find that it did not contribute to expanding trade at all. This is contrary to a deeply rooted belief among economists, economic historians, and political scientists. The authors draw a number of policy lessons that run counter to the conventional wisdom and raise skepticism toward the ability of bilateralism and MFN arrangements to promote trade liberalization.

A Review of Turkey's Economic Progress in Sub-Saharan Africa

2016 ◽  
pp. 310-323
Author(s):  
Umar Mohammed
Keyword(s):  
International Trade ◽  
Emerging Markets ◽  
Natural Resources ◽  
Sub Saharan Africa ◽  
Economic Relationships ◽  
Economic Progress ◽  
The World ◽  
Sub Saharan ◽  
Economic Engagement ◽  
Trade And Investment

Africa is one of the fastest growing regions on the globe and is home to seven of the ten fastest growing markets in the world. Sub-Saharan Africa in particular has many natural resources which has made it a hub for international trade. Turkey's search for alternative market to accelerate the development of its emerging markets has led to its economic engagement in sub-Saharan Africa. However, much has not been written on Turkey's inroads in that part of the continent. Therefore, the purpose of this paper is to review the progress of Turkey's trade and investment in sub Saharan Africa. It indicates that Turkey in the past didn't have much economic relationships with Sub Saharan Africa as compared to Northern Africa. Whilst the volume of Turkey's trade and investment in Sub- Saharan Africa keeps uprising, there are some limitations and difficulties to this partnership such as informational gap on both sides.

International trade

2018 ◽  
Author(s):  
Анастасия Руднева ◽  
Anastasiya Rudneva
Keyword(s):  
International Trade ◽  
Graduate Students ◽  
Economic Security ◽  
State Regulation ◽  
Modern World ◽  
Economic Relations ◽  
Wide Range ◽  
The World ◽  
World Economic

The textbook examines the essence, place and role of international trade in the system of modern world economic relations and in ensuring international economic security, as well as forms and methods of international trade. Particular attention is paid to the specifics of pricing and state regulation of this form of MEO, including in the framework of the world trade organization, as well as trends in the development of international trade in the context of the transformation of its geographical and commodity structure, taking into account modern challenges and threats. The textbook is intended for bachelors studying in the direction of "Economics", graduate students, teachers and a wide range of readers interested in the discipline.

Consolidating International Investment Law: The Mega-Regionals as a Pathway towards Multilateral Rules

2017 ◽  
Vol 17 (1) ◽  
pp. 33-63 ◽  
Author(s):  
TANIA VOON
Keyword(s):  
International Trade ◽  
United Nations ◽  
International Investment ◽  
International Investment Law ◽  
Trade Law ◽  
International Trade Law ◽  
The World ◽  
Investment Law ◽  
The United Nations ◽  
Trade And Investment

AbstractPessimism abounds in international economic law. The World Trade Organization (WTO) faces an uncertain future following its Ministerial Conference in Nairobi in 2015. International investment law is under attack in countries around the world, while mega-regional agreements such as the Trans-Pacific Partnership and the Trans-Atlantic Trade and Investment Partnership are beset by world events, from the United States’ federal election to the unexpected Brexit outcome. Yet the appetite of numerous States to continue forging plurilateral trade and investment deals provides some cause for hope. Viewed alongside other institutional developments including consensus-building work at the United Nations Conference on Trade and Development and the United Nations Commission on International Trade Law, the potential arguably now exists for credible movement towards multilateral rules in investment law. While the WTO's current negotiating stalemate highlights the difficulties in reaching agreement among 164 Members, international trade law offers lessons for working towards multilateralism in the international investment law field. Alongside informal discussions about a world investment court, mega-regionals provide a vehicle for future multilateral investment rules, particularly through the Comprehensive Economic and Trade Agreement between Canada and the European Union, and the Regional Comprehensive Economic Partnership currently under negotiation in Asia.

scholarly journals “Trump Tariffs”: To Establish an American-Style Multilateralism Model?

2019 ◽  
Vol 2 (2) ◽  
pp. p224
Author(s):  
Yikai WU
Keyword(s):  
Fair Trade ◽  
World Trade ◽  
The United States ◽  
Most Favored Nation ◽  
Basic Principles ◽  
Multilateral Trade ◽  
The World ◽  
Tariff Rates ◽  
Trade War ◽  
Trump Administration

One of the goals of the world trade organization is to ensure free and fair trade around the world. Bound tariff rate and most-favored-nation treatment are two basic principles in WTO law, which should be applied and observed among WTO members. The implementation of “trump tariffs” has resulted in a “trade war between China and other countries”, which undoubtedly constitutes a violation of WTO principles, including violation of bound tariff rates and most-favored-nation treatment. At present, the United States is still one of the major setters of the world’s rules, and its every measure has an impact on the whole world. In addition to opposition from around the world, the trump administration’s move to impose tariffs has been criticized by most local economists and lawyers. To achieve fair and free trade, the trump administration should end the implementation of trump tariffs and fulfill its obligations in global multilateral trade and the WTO.

scholarly journals FDI REGULATION IN THE NATIONAL SECURITY CONTEXT: INTERNATIONAL EXPERIENCE AND CONCLUSIONS FOR UKRAINE

2020 ◽  
pp. 147-159
Author(s):  
K. L. Markevych
Keyword(s):  
National Security ◽  
Recipient Country ◽  
Qualitative Change ◽  
Positive Influence ◽  
Point Of View ◽  
Investment Policy ◽  
Negative Effects ◽  
Economic Interests ◽  
Current Trends ◽  
The World

The article examines the current trends of international foreign direct investment (FDI) flows, in particular, the factors influencing their "functioning" in the world have been determined. The results of the analysis have made it possible to conclude that the FDI flows` downward trends are related to a number of exogenous factors. The main interests of foreign investors and their "conflict" with the economic interests of the recipient country have been identified. Due to the increased role of TNCs (major FDI exporters) and their impact on the host economy, the FDI specifics from the protecting national economic interests (NEIs) point of view in the countries of the world have been identified. World economic practice proves that investor activity is not limited to positive influence and can slow down economic growth or encroach on economic sovereignty. It is proved that ensuring national security in conditions of openness to FDI can occur under two scenarios: (1) the system must be built in the context of FDI positive result maximization and negative effects minimization/prevention; (2) the introduction of a "defensive position" concerning FDI is negative for the host economy, as such investments bring new knowledge, technologies, methods of business process organization and contribute to the qualitative change of industrial and human capital. Based on the analysis of investment policy current trends in the world and the need to realize NEI, steps of FDI flow regulation in Ukraine have been proposed. For Ukraine, attracting FDI remains one of the main priorities of NEI's and the objective of the investment policy. At the same time, a system of preventive measures regarding FDI destructive effects while simultaneously observing NEI has been proposed.

scholarly journals IN SEARCH OF REMEDY: MULTILATERAL INSTITUTIONS OF INTERNATIONAL COOPERATION AND GLOBAL ECONOMY PROSPECTS IN THE AGE OF COVID-19

2021 ◽  
Vol 228 (2) ◽  
pp. 106-124
Author(s):  
SERGEY V. MIKHNEVICH ◽  
◽  
SERGEY R. KRASILNIKOV ◽  
Keyword(s):  
International Trade ◽  
International Cooperation ◽  
Economic Crisis ◽  
Global Economy ◽  
World Economy ◽  
Global Response ◽  
Current Trends ◽  
Multilateral Institutions ◽  
The World ◽  
Trade And Investment

The authors gathered and analyzed the latest surveys and recommendations of major multilateral institutions of international cooperation (WTO, B20, UN, UNCTAD, IMF, ILO, OECD, WEF) dedicated to the possible ways and remedies to overcome the current social and economic crisis caused by COVID-19 pandemic. The authors also assessed the current stance and prospects of the world economy. They paid particular attention to the current trends in international trade and investment. As a result, the authors identified and classified some key concrete common ideas and proposals shared by various multilateral institutions of international cooperation and aimed at overcoming identified deficiencies of the global response to the crisis.

scholarly journals The Application of the MFN Principle into 'the Over Top Companies' in Investment Activities of Indonesia

Lentera Hukum ◽  
2019 ◽  
Vol 6 (2) ◽  
pp. 189
Author(s):  
Wachid Aditya Ansory ◽  
Ikarini Dani Widiyanti ◽  
Nuzulia Kumala Sari
Keyword(s):  
International Trade ◽  
World Trade Organization ◽  
Monitoring System ◽  
World Trade ◽  
Economic Liberalization ◽  
Most Favored Nation ◽  
Indonesian Government ◽  
The World ◽  
The Government ◽  
Equitable Treatment

The Most-Favored-Nation (MFN) principle is one of international consensuses, especially for countries registered as members of the World Trade Organization (WTO). The principle is related to investment and international trade within the framework of economic liberalization. At its core, the MFN principle ensures equitable treatment of all parties economically active within a country. Recently, in Indonesia,  the Over Top company conducted business activities without paying taxes to the government. The case of the Over Top company highlights an unfair business situation in Indonesia, enabled by the Indonesian government through a poorly established monitoring system and codification of laws. This study argues that the absence of taxation, regulation, and fraud laws for the Over Top Companies in Indonesia, and the Indonesian government is responsible for the enforcement and maintenance of tax laws and the MFN principle for all entities conducting business in the state. Keywords: MFN Principle, Over Top Companies, Investment in Indonesia.

scholarly journals PROBLEMS AND PROSPECTS FOR THE DEVELOPMENT OF MARITIME TRADE IN THE COVID-19 PANDEMIC

2021 ◽  
Vol 76 (3) ◽  
pp. 74-91
Author(s):  
Veronika Shcherbyna ◽  
Keyword(s):  
International Trade ◽  
World Market ◽  
Maritime Trade ◽  
Maritime Industry ◽  
Sea Transport ◽  
Economic Relations ◽  
The World ◽  
World Economic ◽  
Alternative Markets ◽  
The Impact

International trade is influenced by many factors: the development and deepening of the labor international division and the production internationalization; trade growth and economic integration with the common markets formation, free trade zones; international trade liberalization, reduction of the level of protectionism and trade barriers. The very first form of international trade was sea trade, since one of the oldest modes of transport is sea transport, which still retains its primacy in cargo transportation. Sea trade is a form of international economic relations, international trade in goods, the delivery of which is carried out using sea transport.The article examines the current state and trends in the maritime trade deve-lopment, identifies the main problems of the maritime industry and the risks that threaten the development of maritime trade in a pandemic, analyzes the prospects for the deve-lopment of trade with the participation of maritime transport in the world and in Ukraine.Trade tensions have triggered a restructuring of global maritime trade, as the search for alternative markets and suppliers has redirected flows from China to other markets, especially in Southeast Asia. UNCTAD experts note that the impact of COVID-19 on trade was most severe in the first half of 2020, when trade volumes fell by 15 %. But many countries never recovered by the end of the year. On the other hand, some states were able to successfully withstand new challenges and achieved an increase in their share in the world market, displacing from it the least competitive suppliers, which suffered as a result of reduced demand. The analysis showed that the structure of Ukraine's maritime trade was quite resistant to the emergence of coronavirus. And the significant share of agricultural products in production and exports is a confirmation of this fact. For the development of Ukraine's maritime trade and integration into the world economic system, it is necessary to develop and implement the capabilities of the national maritime economic complex, to protect the interests of Ukraine as a maritime power in the foreign policy and foreign economic spheres.Keywords: maritime trade, COVID-19 pandemic, export, import, maritime policy.

scholarly journals INTERNATIONAL TRADE AND ELECTRONIC COMMERCE IN THE PERIOD OF MODERN CHALLENGES

2021 ◽  
Author(s):  
Diana Hryniuk ◽  
Yaroslav Nikolaiev ◽  
Oksana Borysova
Keyword(s):  
International Trade ◽  
International Relations ◽  
Current Trend ◽  
Electronic Market ◽  
Economic Space ◽  
World Community ◽  
Current Trends ◽  
The World ◽  
The Face ◽  
World Economic

The current trend in the development of the world community in the face of challenges and threats is the search for the most rational ways to increase the competitiveness of economies. Against the background of the pandemic and isolation, international trade is extremely important and dynamic as a form of the system of international relations and, at the same time, an instrument of integration and communication of states and economic entities. The paper systematizes the theoretical, scientific and practical achievements of foreign and domestic scientists on this issue, summarizes the role and importance of e-commerce from the standpoint of world experience. It also notes the prospects for growth of the electronic market of Ukraine against the background of current trends and challenges. The conclusions contain a vision of prospects and proposals for the development of e-commerce in Ukraine in order to strengthen the competitive position of the state in the European and world economic space.

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