scholarly journals Global trade imbalance and economic crisis

2011 ◽  
pp. 443-454
Author(s):  
Branislav Pelevic ◽  
Vladimir Vuckovic
Keyword(s):  
International Trade ◽  
Supply Chains ◽  
Economic Crisis ◽  
Consumer Products ◽  
Global Trade ◽  
Financial Instruments ◽  
Asian Countries ◽  
Trade Imbalance ◽  
The World ◽  
Future Challenges

Global trade imbalance is one of the factors of the ongoing economic crisis. Dependence of Western countries on capital from Asian countries created a supply of innovative financial instruments, which drawn the world into financial and economic crisis. After the crisis, international trade collapsed, with some specific features: trade declined faster than production, trade in equipment and durable consumer products plunged, international supply chains suffered. Future challenges are related to possible protectionism and wrong approaches for global rebalancing.

East Asian Machinery-Building Cluster

2014 ◽  
pp. 36-44
Author(s):  
V. Sokolov
Keyword(s):  
Supply Chains ◽  
East Asian ◽  
Telecommunications Industry ◽  
South East Asia ◽  
Asian Countries ◽  
The World ◽  
The Usa ◽  
Technological Level ◽  
Machinery Building

The article considers features of the East Asian machinery-building cluster. It differs from the older machinery-building clusters in West Europe and North America primarily. The share of intermediate goods in the imports of the East Asian countries is higher than the share of such goods in their exports. This results from prevalence of the assembly manufactures in their industry. The international supply chains of the region are described as follows: manufacturing parts and components in the countries of East and South-East Asia – assembly in China – exports to USA, Europe and Japan. The changes in the structure of the international supply chains in 2007–2011 are shown in the case of telecommunications industry. It is established that the structure of the telecommunications imports of the USA has changed in favor of China. The technological level of the telecommunications equipment exported from China enhanced significantly. The share of parts and components in China’s telecommunications exports increased. Imports of telecommunications equipment from Japan to USA diminished whereas its delivery from China to Japan more than doubled. This points to reduction of the role of Japan as the supplier of telecommunications equipment in the world scale.

World Trade Organization

2018 ◽  
pp. 298-312
Author(s):  
Rorden Wilkinson
Keyword(s):  
International Trade ◽  
World Trade Organization ◽  
World Trade ◽  
Global Trade ◽  
Complex Organization ◽  
The World ◽  
Post War ◽  
International Trade Organization

The World Trade Organization (WTO) is a complex organization with a plethora of apparent contradictions. This chapter offers an introduction to the WTO and its role in governing global trade. It examines the organization’s evolution from a failed post-war attempt to create the International Trade Organization (ITO), the emergence in the ITO’s place of the General Agreement on Tariffs and Trade (GATT), and the eventual creation of today’s WTO. The chapter then explores its organizational fundamentals as well as some of the issues likely to loom largest on the global trade agenda in the coming years before offering some concluding comments.

Trends in the development of international trade in the post-coronavirus economy

2021 ◽  
Vol 20 (1) ◽  
pp. 50-57
Author(s):  
D. S. Shikhalieva
Keyword(s):  
International Trade ◽  
Economic Crisis ◽  
The State ◽  
Current Trends ◽  
Main Current ◽  
The World ◽  
Global Economic Crisis ◽  
Trade Growth

The article examines the main current trends in the state and development of in-ternational trade. The purpose of the study is to identify opportunities and re-serves for trade growth. The presented indicators of exports, imports, gross do-mestic product by regions of the world allow drawing conclusions about the prospects for overcoming the global economic crisis. The results of the study are aimed at identifying the main trajectories of international trade in the post-coronavirus period.

“Road Map” of International Trading System Reforming

2010 ◽  
pp. 10-18
Author(s):  
V. Obolenskiy
Keyword(s):  
International Trade ◽  
Economic Crisis ◽  
World Economy ◽  
Developed Countries ◽  
Trading System ◽  
Road Map ◽  
The World ◽  
International Trading ◽  
System Improvement ◽  
Working Out

The world financial and economic crisis has clearly demonstrated that the current principles and rules of the international trade were able to hold governments of most states off the impetuous protectionism, which allowed to insure the world economy against a deeper recession. However, the crisis has also depicted the importance of further international trade system improvement. In the article, the directions of working out of new agreements on future tariff and non-tariff barriers in international trade and actions encouraging its development are considered. At the same time, as accentuated in the paper, it is undeniable that there are flaws in the WTO activities, mainly the vivid bias to serving the interests of the most developed countries, which reasonably draws attention of many researchers-economists.

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.

The Vulnerability and Resilience of the Global Container Shipping Industry

2022 ◽  
Vol 121 (831) ◽  
pp. 17-23
Author(s):  
Jean-Paul Rodrigue
Keyword(s):  
Supply Chains ◽  
Global Economy ◽  
Suez Canal ◽  
Transport Systems ◽  
Global Trade ◽  
Container Shipping ◽  
Shipping Industry ◽  
Global Transport ◽  
The World ◽  
Shipping Containers

Intermodal shipping containers, standardized and capable of being carried on trucks, trains, barges, or ships, have transformed the global economy since they were introduced in 1959. By allowing previously separated segments of regional and global transport systems to interact, they have vastly expanded global trade and facilitated supply chains that stretch around the world. But vulnerabilities in the system became apparent during the COVID-19 pandemic. Problems at key bottlenecks in the system, compounded by an unexpected six-day shutdown of the vital Suez Canal, precipitated global disruptions leading to shortages of goods and soaring prices around the world. As the global shipping industry recovers, it will have an opportunity to transition toward a system that is more resilient.

Economic cooperation of Canada with the Asia-Pacific countries in the energy sector

2020 ◽  
pp. 74-79
Author(s):  
Aleksandra Dmitrievna Filina ◽  
Galina Viktorovna Tretyakova
Keyword(s):  
United States ◽  
International Trade ◽  
United States Of America ◽  
The United States ◽  
Energy Markets ◽  
Asia Pacific ◽  
Urgent Problem ◽  
Asian Countries ◽  
The World ◽  
The Relationship

The article is devoted to an urgent problem of our time — the integration of Canadian energy markets into the energy markets of the Asia-Pacifi c region. Canada’s economy is currently the 16th largest in the world in terms of GDP and is heavily dependent on international trade, whose prosperity is inextricably linked to external markets and the ability to access those markets. In turn, China, Japan, and South Korea are the world’s largest importers of crude oil and liquefi ed natural gas. The purpose of this work is to investigate how exactly interactions between these countries are built on the market, in addition, to explore the building of relationships in a given region. The scientifi c novelty of the work is to consider the relationship between the countries of the Asia-Pacifi c region and Canada, not only based on recently signed agreements but also with the involvement of the opinions and works of modern experts in the fi eld of international energy. The study examines the reasons for the need to enter the energy markets of Canada in the Asia-Pacifi c region, and also analyzes the dependence of the Canadian economy on the economy of the United States of America. Besides, the comprehensive and progressive agreement on the Trans-Pacifi c Partnership — CPTPP, signed in 2018 by Canada and the Indo-Pacifi c countries, was examined. As a result of the study, the need to change the course of Canada’s energy exports towards the Asia-Pacifi c region was substantiated; in addition, the importance of Canada’s energy markets for Asian countries was revealed.

scholarly journals THE IMPACT OF NEW TRADE AGENDA TO MACROECONOMIC PERFORMANCE OF INDONESIA AND JAPAN IN SHORT AND LONG TERM

2017 ◽  
Vol 20 (2) ◽  
pp. 181-202
Author(s):  
Amalia Adininggar Widyasanti
Keyword(s):  
Economic Crisis ◽  
Global Economy ◽  
World Economy ◽  
Global Trade ◽  
Main Concern ◽  
Long Run ◽  
The World ◽  
Short Run ◽  
Unfavorable Condition ◽  
The Impact

The swings of global trade in recent decades have been resulted from the global economic crisis and unfavorable condition of global situation. Deterioration of private demand -- as a result of economic crisis and increase of unemployment – has been the main reason of worsening global trade. This condition has, of course, affected economic performance of countries through trade channels. Furthermore, the recent trade agenda following to Trump administration has created another uncertainty to the world economy. This paper studies the impact of new trade agenda, which is represented by Trump’s plan on trade policy, to the world economy as well as to Indonesian and Japanese economy in particular. The analysis is based on computable general equilibrium of GTAP model version 6, with two scenarios: (i) Trump Trade Agenda when implementing 45 and 35 percent tariff to China and Mexico; (ii) Trade Hit List when imposing tariff to the 16 countries in the trade hit list. Impacts of both scenarios are examined in short run and long run. The results suggest that both scenarios in the short run will not create any significant effect to global economy as whole nor to Indonesian and Japan in particular. However, their impacts to the global economy, Indonesia, and Japan will be substantial in the long run. Therefore, Indonesia and Japan in particular should concern on providing sound economic policies to reduce the risk of new trade agenda to these economies in the long run. Some policy recommendation provided in this paper are: (i) Japan should focus on improving technological innovation to realize the implementation of society 5.0 and industry 4.0 as scheduled; (ii) Indonesia should facilitate more investment to its economy and provide more government investment to induce accumulation of capital stock in the future. Furthermore, efficiencies and technological adoption should also be main concern of the Indonesian government to induce productivity of the economy and help mitigate the global risks in the long run.

The New Face of Global Trade in a Post-Pandemic World

2022 ◽  
pp. 37-53
Author(s):  
Muhammad Irfan Khan ◽  
Syed Imran Zaman
Keyword(s):  
International Trade ◽  
Empirical Evidence ◽  
Actual Data ◽  
Global Trade ◽  
Trade Theory ◽  
Goods And Services ◽  
The World ◽  
The Future ◽  
Novel Coronavirus ◽  
Do So

The COVID-19 pandemic has raised serious questions about the applicability of international trade theories. International trade has now changed its shape due to this novel coronavirus. It is a fact that no country in the world follows one trade theory. They use multiple theories for their goods and services and will continue to do so. The future of international trade theories is suspected as to which theory will be employed or any new theory of international trade will emerge. Empirical evidence illustrates the emergence of regionalization as compared to globalization. In this context, trade theories will also adjust their forms and assumptions. Therefore, this chapter reconciles international trade theories with actual data, most notably COVID-19.

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