The World and Vietnamese Economy in 2017, Prospects for 2018 and Some Policy Implications for Vietnam

2018 ◽  
Vol 34 (1) ◽  
Author(s):  
Nguyen Cam Nhung ◽  
Vu Thanh Huong ◽  
Nguyen Thi Minh Phuong
Keyword(s):  
Economic Growth ◽  
World Trade Organization ◽  
World Trade ◽  
Sustainable Growth ◽  
Policy Implications ◽  
Director General ◽  
Viet Nam ◽  
The World ◽  
World Economic ◽  
Economic Outlook

This paper assesses the comprehensive macroeconomic picture of the world and Vietnam in 2017 and forecasts the outlook for 2018, and then making some policy implications for Vietnam. The world economy in 2017 is considered to be the most prosperous since 2011, thanks to the steady growth of key economies, bounced global trade, and favorable global financial conditions. However, as slow and uncertain global investment growth as well as many unpredictable factors in US government policy and Brexit, and political risks from tensions of the Korean Peninsula, 2018 will continue to witness unpredictable developments in the global economy. Faced with that situation, together with internal difficulties in the country, Vietnam should have flexible solutions, high determination and act in a drastic way in order to achieve the objectives on the economic growth and inflation as outlined. In addition, Vietnam should continue to promote the trade facilitation activities, the improvement of the business investment environment, take advantage of new opportunities to attract foreign investment capital for infrastructure construction, keep on innovating, and enhance the competitiveness to bring our economy to the path of rapid and sustainable development. Keywords Economic growth, inflation rate, monetary, trade, investment References 1. Bộ Ngoại giao Việt Nam (2017). Tình hình và triển vọng kinh tế thế giới, tháng 8/2017. 2. IMF [International Monetary Fund] (2017b). World Economic Outlook update, July 2017: A firming recovery. 3. IMF (2017c). World Economic Outlook. October 2017. Seeking Sustainable Growth: Short-term Recovery, Long-term Challenges. 4. OECD [Organization for Economic Cooperation and Development ] (2017). Global Economic Outlook, Jun 2017. http://www.oecd.org/eco/economicoutlook.htm, truy cập ngày 19/09/20175. NIESR [National Institute Economic and Social Research] (2017). Global Economic Forecast. National Institute Economic Review no. 241 August 2017. 6. UNCTAD (2017). World Investment Report 2017: Investment and the Digital Economy. United Nations Publication, Genveva: United Nation. 7. Tổng cục Hải quan (2017), Tình hình xuất khẩu, nhập khẩu hàng hoá của Việt Nam tháng 8 và 8 tháng đầu năm 2017. 8. UN (2017). World Economic Situation and Prospects 2018. https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/publication/WESP2018_Full_Web-1.pdf.9. WTO (2017a). Monthy world trade data. Retrieved from: https://http://www.wto.org/english/res_e/statis_e/short_term_stats_e.htm 10. WTO (2017b). Report to the TPRB from the Director-General on Trade-Related Developments Geneva World Trade Organization 11. WTO (2017c). World Trade Outlook Indicator. Geneva The World Trade Organization

Economic and Political Geography

2017 ◽  
Author(s):  
Rabi S. Bhagat
Keyword(s):  
Economic Growth ◽  
World War Ii ◽  
South Korea ◽  
Financial Markets ◽  
World Trade Organization ◽  
World Trade ◽  
Political Geography ◽  
World War ◽  
The Third ◽  
The World

The development of the BRIC economies is being monitored on a regular basis by financial markets worldwide. This chapter discusses some of the reasons for their emergence and continued growth and the challenges they face. Next, it considers the third-largest economy, Japan, and the five Asian dragons, which grew at a phenomenal rate after World War II. It discusses “reactive modernization”—a path of fostering economic growth by negotiating with the ruling Western economies. Japan and South Korea are two classic examples of this kind of growth, where a hybrid of Western industrialization was combined with Eastern methods of operating. A closer inspection of the trading economies in the World Trade Organization would reveal that a growing number of them are from non-Western nations, and they play important roles in shaping the paths that globalizations need to follow in the new economic and political geography of the world.

scholarly journals The New Development Bank and Multilateral Trade Facilitation Agreements on BRICS

2020 ◽  
Vol 6 ◽  
pp. 1
Author(s):  
Fiyinfoluwa Giwa ◽  
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
World Trade Organization ◽  
World Trade ◽  
Development Bank ◽  
Trade Facilitation ◽  
Multilateral Trade ◽  
Brics Countries ◽  
New Development ◽  
The World

Brazil, Russia, India, China, and South Africa (BRICS) have made a tremendous economic impact on the world. Through the New Development Bank (NDB) and the Trade Facilitation Agreement (TFA) by the World Trade Organization, they have become stronger. This article made use of different views to discuss the implication of the NDB and TFA on BRICS. No empirical analysis was carried out. From the viewpoints of other scholars, the Trade Ministers of the BRICS and the World Trade Organization, the NDB and TFA can enhance intellectual and economic growth in the BRICS countries.

Doha dead and buried in Nairobi: lessons for the WTO

2017 ◽  
Vol 16 (1) ◽  
pp. 49-66 ◽  
Author(s):  
Antoine Martin ◽  
Bryan Mercurio
Keyword(s):  
World Trade Organization ◽  
World Trade ◽  
Design Methodology ◽  
Current Trend ◽  
Policy Implications ◽  
Doha Round ◽  
Content Type ◽  
Trade Regulation ◽  
The World ◽  
The Future

Purpose This paper aims to reflect on the outcomes of the Nairobi Ministerial Conference of 2015, which, for all intents and purposes, put the Doha Round to rest and analyses the policy implications and lessons for policymaking at the World Trade Organization (WTO), most importantly the abandonment of the “single undertaking” and return to plurilateral agreements. Design/methodology/approach The paper approaches the issue of WTO policymaking by analysing the various outputs produced both before and because of the Ministerial Conference. Findings The paper suggests that the Nairobi Ministerial has finally put an end to the Doha Round and comes to the conclusion that policymaking at the multilateral level (i.e. through the single undertaking) will change significantly in the future because the WTO Members are incapable of reaching a comprehensive agreement at this time. Instead, the current trend towards trade policymaking via FTA is likely to continue while the WTO focuses on plurilateral negotiations on narrow and discreet issues. Originality/value The paper contributes to the literature on the analysis of global regulatory fragmentation and on trade policymaking. It draws attention, in particular, to the consequences of the last Ministerial Conference and highlights prospects for the future of global trade regulation.

Laos in 2013

Asian Survey ◽  
2014 ◽  
Vol 54 (1) ◽  
pp. 78-82 ◽  
Author(s):  
Brendan M. Howe
Keyword(s):  
Economic Growth ◽  
Human Rights ◽  
World Trade Organization ◽  
Human Development ◽  
Human Development Index ◽  
World Trade ◽  
Development Projects ◽  
Developed Country ◽  
North Korean Refugees ◽  
The World

In 2013 Laos joined the World Trade Organization, economic growth was over 8%, and graduation from least-developed country status by 2020 remains achievable. But its human development index of 0.543 remained below the regional average. Macro development projects still threaten the vulnerable. The abduction of a prominent campaigner and repatriation of North Korean refugees highlighted human rights challenges.

Human Rights, Constitutionalism and the World Trade Organization: Challenges for World Trade Organization Jurisprudence and Civil Society

2006 ◽  
Vol 19 (3) ◽  
pp. 633-667 ◽  
Author(s):  
ERNST-ULRICH PETERSMANN
Keyword(s):  
Human Rights ◽  
World Trade Organization ◽  
International Law ◽  
World Trade ◽  
Dispute Settlement ◽  
Director General ◽  
Trade Disputes ◽  
Trade Law ◽  
Wto Dispute Settlement ◽  
The World

Governments perceive UN human rights conventions and the law of the World Trade Organization (WTO) as separate legal regimes. WTO jurisprudence, by contrast, interprets WTO rules as parts of international law and may soon be confronted with legal claims that WTO obligations are to be construed with due regard to the human rights obligations of WTO members. The diverse constitutional traditions of WTO members, and their political opposition to linking WTO law to human rights, make it unlikely that WTO members will respond to the UN proposals for a ‘human rights approach to trade’ by adopting a WTO Declaration clarifying that WTO rules are flexible enough to be interpreted and applied in conformity with the human rights obligations of WTO members (section 1). Following the invitation by WTO Director-General Pascal Lamy to form ‘cosmopolitan constituencies’ in support of global public goods (like a rules-based world trading system), this article makes concrete proposals for the initiative by the International Law Association (ILA) to elaborate an ILA Declaration clarifying the complex interrelationships between trade law, human rights and WTO jurisprudence (section 2). As many human rights arguments presented in trade disputes in the EC Court and in the European Court of Human Rights could likewise be raised in WTO dispute settlement proceedings, the article examines whether the ‘constitutional methodologies’ applied by European courts offer lessons for further ‘constitutionalizing’ trade governance in the WTO in conformity with the human rights obligations of all WTO members.

scholarly journals Aid for development of international trade

2012 ◽  
Vol 64 (3) ◽  
pp. 359-384
Author(s):  
Predrag Bjelic ◽  
Ivana Popovic-Petrovic
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
International Trade ◽  
World Trade Organization ◽  
World Trade ◽  
Transport Infrastructure ◽  
Developed Economies ◽  
The World ◽  
Aid For Trade ◽  
Great Development

The development of international trade was very impressive in the second half of 20th century. But even with these great development opportunities that growth of international trade can bring the small number of developed economies had succeeded to ripe benefits from it in order to develop their economies and reduce poverty. Even with the establishment of the World Trade Organization it was apparent that developing countries need assistance in order to integrate fully in international trade system. The Aid for Trade, which is a part of Official Development Assistance focusing on trade, has an aim to help developing countries build their trade capacity and the transport infrastructure so they can use trade as a powerful engine for economic growth. This paper set out to describe this new programme of trade aid developed under the auspices of WTO, as a multilateral project, to point out the readiness of donor countries and aims of beneficiary countries. But we will explore the linkages of Aid for Trade programme with bilateral and regional aid initiatives in the area of trade.

Vietnam in 2004: Popular Authority Seeking Power?

Asian Survey ◽  
2005 ◽  
Vol 45 (1) ◽  
pp. 146-152 ◽  
Author(s):  
Adam Fforde
Keyword(s):  
Economic Growth ◽  
Civil Society ◽  
World Trade Organization ◽  
Communist Party ◽  
World Trade ◽  
Political Authority ◽  
Rapid Economic Growth ◽  
The World ◽  
Slow Progress

Vietnam in 2004 saw a combination of rapid economic growth with continued evidence of weak central political authority. The ruling Vietnamese Communist Party, having granted greater freedoms in order to legitimize dissent, refused to abandon its Leninist politics that were hostile toward what appears to be a rapidly emerging ““civil society.”” The loss of quotas on exports of garments and footwear and slow progress toward joining the World Trade Organization suggest that 2005 could be an interesting year.

Economic Growth Sustainability in the Present-Day World

10.12737/5964 ◽  
2014 ◽  
Vol 2 (5) ◽  
pp. 35-40
Author(s):  
Басовская ◽  
Elena Basovskaya ◽  
Басовский ◽  
Leonid Basovskiy
Keyword(s):  
Economic Growth ◽  
World Economy ◽  
Sustainable Growth ◽  
Theory Approach ◽  
African Countries ◽  
The World ◽  
World Economic ◽  
National Economies ◽  
North African Countries ◽  
Economic Growth Rates

The paper attempts to explore how sustainable is the growth of the world economy as a whole, of the largest regions of the world, of communities and individual national economies by applying the systems theory approach based on assessing dispersion of economic growth rates, calculated on the basis of IMF data for the 1970–2013 period. It is found that the world economic crisis is over. The world economy, as well as economies of the majority of regions, communities and nations all show sustainable growth. Economies of North African countries, of many European Union member states and of Norway show unsustainable growth. The current policy of imposing sanctions on Russia can result in recession in the EU countries and in Norway in the first place.

scholarly journals Corporate Governance Norm for SME

2011 ◽  
Vol 1 (2) ◽  
pp. 77 ◽  
Author(s):  
Indrajit Dube ◽  
Dipa Dube ◽  
Pulak Mishra
Keyword(s):  
Corporate Governance ◽  
International Trade ◽  
World Trade Organization ◽  
Market Economy ◽  
World Trade ◽  
Socialist Economy ◽  
The World ◽  
World Economic ◽  
And Shifts ◽  
Free Movement Of Capital

The last few decades have witnessed several changes in the world economic system: consolidating trend of globalization and liberalization of economies; crumbling barriers to international trade and free movement of capital due to the establishment of World Trade Organization (WTO) and shifts towards market economy in contrast to the control economy or socialist economy. It was believed that market economy will be the ‘mantra’ for all nations, either developing or under developed, to achieve economic salvation. Destiny smiled and brought the belief to its knee and rethinking process started afresh as to what ought to be the new ‘mantra’. Economic downtown indicated further that it is not the big companies, which are only efficient machineries to rotate the economic circle; rather SME’s are the most trusted vehicles that will lead any economy towards salvation.Literature across the globe suggests adoption of sustainable Corporate Governance Norms within the SME sector. On the contrary, there are strong arguments also available against introduction of such norms. In the present study we have considered the feasibility of introduction of corporate governance norms in the sector and attempted to develop, on the basis of the findings, sound and practicable solutions.

scholarly journals What’s yours is ours: waiving intellectual property protections for COVID-19 vaccines

2021 ◽  
pp. medethics-2021-107555
Author(s):  
Nancy S Jecker ◽  
Caesar A Atuire
Keyword(s):  
South Africa ◽  
Intellectual Property ◽  
World Trade Organization ◽  
World Trade ◽  
Director General ◽  
Ip Protection ◽  
Holding Companies ◽  
Ethical Argument ◽  
The World

This paper gives an ethical argument for temporarily waiving intellectual property (IP) protections for COVID-19 vaccines. It examines two proposals under discussion at the World Trade Organization (WTO): the India/South Africa proposal and the WTO Director General proposal. Section I explains the background leading up to the WTO debate. Section II rebuts ethical arguments for retaining current IP protections, which appeal to benefiting society by spurring innovation and protecting rightful ownership. It sets forth positive ethical arguments for a temporary waiver that appeal to standing in solidarity and holding companies accountable. After examining built-in exceptions to existing agreements and finding them inadequate, the paper replies to objections to a temporary waiver and concludes, in section III, that the ethical argument for temporarily waiving IP protection for COVID-19 vaccines is strong.

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