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The founder and executive chairman of the World Economic Forum on how the impending technological revolution will change our lives We are on the brink of the Fourth Industrial Revolution. And this one will be unlike any other in human history. Characterized by new technologies fusing the physical, digital and biological worlds, the Fourth Industrial Revolution will impact all disciplines, economies and industries - and it will do so at an unprecedented rate. World Economic Forum data predicts that by 2025 we will see: commercial use of nanomaterials 200 times stronger than steel and a million times thinner than human hair; the first transplant of a 3D-printed liver; 10% of all cars on US roads being driverless; and much more besides. In The Fourth Industrial Revolution, Schwab outlines the key technologies driving this revolution, discusses the major impacts on governments, businesses, civil society and individuals, and offers bold ideas for what can be done to shape a better future for all.
In this comprehensive second edition of The Economics of International Integration, Miroslav N. Jovanovic examines the theory of international economic integration and explores the existing and emerging international integration agreements, their achievements, problems and prospects. One of the most important issues in international economics today concerns the dissipating multilateral trading system and the proliferation of a number of trading blocs and arrangements. This has been particularly the case after the establishment of the World Trade Organization in 1995 and especially during the Doha Round (2001-13). This book takes on those and other important new issues such as integration through spatially fragmented production, and the operation of supply chains. The author argues that international economic integration deals are here to stay, and evolve with variable successes in spite of advantages offered by the multilateral trading system. Jovanovic's second edition includes up-to-date surveys of economic integration and their agreements, criticism of the eurozone and speculation on the future of integration. `I taught one course on economic policy at Queen's University and met Miroslav Jovanovic, who was the outstanding student in my class. I have followed his career ever since... The most distinctive aspect of his treatment continues to be his union of theory and applied material. For him, the major interest always resides in the problems created by the working out of various forms of integration in real situations. He uses theory but no more than is needed to act as a tool for enlightening our understanding of what we see in the world around us... For those who want a comprehensive survey relevant for understanding the issues surrounding economic integration, this is an excellent book.' - From the Foreword by Richard G. Lipsey
Integrating work from the fields of political science, economics, law and policy the Handbook of The International Political Economy of Trade is a fresh perspective on the fundamental political causes and consequences of trade. Under the guidance of David Deese, a prestigious group of international authors address the most important and promising research questions underlying international trade policy today including: * Trade as an `Engine' of integration, growth or inequality? * Domestic politics, development strategy and democracy * Regions and regionalism in the lead * The global governance of trade: who's accountable and who governs? * Trade as globalization * The future of trade This accessible, comprehensive and pertinent Handbook will be of interest to academics, researchers and students working in the fields of international politics, in particular political economy and foreign policy, and the economics of trade. Practitioners working in civil society trade organizations, government agencies, and intergovernmental organizations will also find much of interest.
Why, and how, do states obey international law? This engaging book tackles this very question head on via its examination of the conflicting and conciliating processes of the Chinese approach to litigation and the Western approach to legal orientation in the field of the WTO dispute settlement mechanism. The authors examine the normative framework of WTO rule implementation in a globalised international economic order. They further explore the notion of the rule of law in China's Confucian system, and how it interacts with a rule-based world trading system. Topics discussed include theorising the WTO implementation regime, the Chinese approach to law, China and the WTO dispute settlement system, and Chinese Confucianism and compliance. With its focus on international economic law and political science, this book will be accessible to students, policy makers, practitioners and academics looking to understand China and the rule of law in a global context
Looming trade wars and rising nationalism have stirred troubling memories of the 1930s. Will history repeat itself? Do we face the chaotic breakdown of the global economic system in face of stagnation, protectionism and political tumult? Jeremy Green argues that, although we face grave problems, globalization is not about to end. Setting today's challenges within a longer historical context, he demonstrates that the global economy is more interconnected than ever before and the costs of undoing it high enough to make a complete breakdown unlikely. Popular analogies between the 1930s and today are misleading. But the governing liberal ideology of globalisation is changing. It is mutating into a hard-edged nationalism that defends free markets while reasserting sovereignty and strengthening borders. This 'national liberalism' threatens a much more dangerous disintegration, fuelled by inequality and ecological crisis, unless we radically rethink the international status quo. This brilliantly original account of the discontents of globalization is a must-read both for concerned citizens and students of global political economy.
This Handbook provides state-of-the-art analysis by leading authors on the links between the international trade regime and health and environment concerns - concerns that make up an increasing proportion of WTO dispute settlement. Research Handbook on Environment, Health and the WTO surveys fields as diverse as climate change mitigation, non-communicable diseases, nanotechnology and public health care. The volume brings to the fore the debates and complexities surrounding these issues and their implications for the international trading system. The Handbook begins in Part I with a survey of general issues that sets a context for the more specific sectorial studies. Part II considers the most pressing issues within health regulation and trade law, whilst Part III is devoted to environmental regulation and its interface with trade law. Part IV looks specifically at aspects of the dispute settlement process and in particular standard of review, and the book concludes in Part V with a consideration of the impact of trade measures on the health and environment regimes of emerging economies. This comprehensive yet concise Handbook will appeal to academics and researchers in international trade law and environmental law, as well as trade law practitioners.
This MBA textbook provides a guide to the international institutions, both public and private, that exist to regulate and facilitate international business. William Kerr and Nicholas Perdikis explain how international business decision making should take into account the ideas and institutions that make up the international commercial environment, such as why trade theories are important to business; the ways in which governments can restrict trade; the role of international trade rules in reducing risk; the threats that anti-dumping and countervail actions pose; the pros and cons of operating multilaterally; the role of trading houses and the advantages of using private sector institutions to settle international business disputes. Key features include: * Economic theory presented in a business-friendly style; * Major arguments in international trade theory outlined and critically assessed; * An explanation of the role and rules of international organizations, such as the WTO * Barriers to trade and how they can affect competitiveness; * An exploration of the organizational choices (e.g. direct exporting, becoming a multinational, joint ventures, etc.) open to those participating in international business; and * Discussion of the international private sector arrangements which ensure payment, facilitate the movement of products and resolve disputes. This book will be essential reading for senior executives needing to familiarize themselves with the international commercial environment. It will also be an excellent resource for executive and international MBAs, as well as upper level international business students.
An honest discussion of free trade and how nations can sensibly chart a path forward in today (TM)s global economy Not so long ago the nation-state seemed to be on its deathbed, condemned to irrelevance by the forces of globalization and technology. Now it is back with a vengeance, propelled by a groundswell of populists around the world. In Straight Talk on Trade, Dani Rodrik, an early and outspoken critic of economic globalization taken too far, goes beyond the populist backlash and offers a more reasoned explanation for why our elites (TM) and technocrats (TM) obsession with hyper-globalization made it more difficult for nations to achieve legitimate economic and social objectives at home. Ranging over the recent experiences of advanced countries, the eurozone, and developing nations, Straight Talk on Trade charts a way forward with new ideas about how to reconcile today (TM)s inequitable trends with liberal democracy and social inclusion.
WTO Ministerial Conferences: Key Outcomes contains all the key outcomes from WTO Ministerial Conferences since the organization was established in 1995. Covering eleven Ministerial Conferences held between 1996 and 2017, the key outcomes include Ministerial Decisions and Declarations as well as Chairpersons' statements. This publication also reproduces relevant ministerial outcomes of the Uruguay Round adopted in connection with the establishment of the WTO. This publication complements The WTO Agreements, recently published by Cambridge University Press and the WTO, which contains the Marrakesh Agreement Establishing the WTO and its Annexes.
A prime contemporary concern - how to maintain fair market relations - is addressed through this study of the regulation of bread prices. This was the single most important economic reality of Europe's daily life in the early modern period. Jan de Vries uses the Dutch Republic as a case study of how the market functioned and how the regulatory system evolved and acted. The ways in which consumer behaviour adapted to these structures, and the state interacted with producers and consumers in the pursuit of its own interests, had major implications for the measurement of living standards in this period. The long-term consequences of the Dutch state's interventions reveal how capitalist economies, far from being the outcome of unfettered market economics, are inextricably linked with regulatory fiscal regimes. The humble loaf serves as a prism through which to explore major developments in early modern European society and how public market regulation affected private economic life.
How the rise of the West was a temporary exception to the predominant world order What accounts for the rise of the state, the creation of the first global system, and the dominance of the West? The conventional answer asserts that superior technology, tactics, and institutions forged by Darwinian military competition gave Europeans a decisive advantage in war over other civilizations from 1500 onward. In contrast, Empires of the Weak argues that Europeans actually had no general military superiority in the early modern era. J. C. Sharman shows instead that European expansion from the late fifteenth to the late eighteenth centuries is better explained by deference to strong Asian and African polities, disease in the Americas, and maritime supremacy earned by default because local land-oriented polities were largely indifferent to war and trade at sea. Europeans were overawed by the mighty Eastern empires of the day, which pioneered key military innovations and were the greatest early modern conquerors. Against the view that the Europeans won for all time, Sharman contends that the imperialism of the late nineteenth and early twentieth centuries was a relatively transient and anomalous development in world politics that concluded with Western losses in various insurgencies. If the twenty-first century is to be dominated by non-Western powers like China, this represents a return to the norm for the modern era. Bringing a revisionist perspective to the idea that Europe ruled the world due to military dominance, Empires of the Weak demonstrates that the rise of the West was an exception in the prevailing world order.
A comprehensive look at the world of illicit trade Though mankind has traded tangible goods for millennia, recent technology has changed the fundamentals of trade, in both legitimate and illegal economies. In the past three decades, the most advanced forms of illicit trade have broken with all historical precedents and, as Dark Commerce shows, now operate as if on steroids, tied to computers and social media. In this new world of illicit commerce, which benefits states and diverse participants, trade is impersonal and anonymized, and vast profits are made in short periods with limited accountability to sellers, intermediaries, and purchasers. Louise Shelley examines how new technology, communications, and globalization fuel the exponential growth of dangerous forms of illegal trade "the markets for narcotics and child pornography online, the escalation of sex trafficking through web advertisements, and the sale of endangered species for which revenues total in the hundreds of millions of dollars. The illicit economy exacerbates many of the world (TM)s destabilizing phenomena: the perpetuation of conflicts, the proliferation of arms and weapons of mass destruction, and environmental degradation and extinction. Shelley explores illicit trade in tangible goods "drugs, human beings, arms, wildlife and timber, fish, antiquities, and ubiquitous counterfeits "and contrasts this with the damaging trade in cyberspace, where intangible commodities cost consumers and organizations billions as they lose identities, bank accounts, access to computer data, and intellectual property. Demonstrating that illicit trade is a business the global community cannot afford to ignore and must work together to address, Dark Commerce considers diverse ways of responding to this increasing challenge.
Trade is the lifeblood of the global economy, but few would consider it a social good. Instead, our views on trade have polarized between two extremes: `free trade' ideologues who regard trade as an end in itself, and `protectionists' who view it as a destructive force to be contained. But there is another way to trade - one with the interests of people, not profit, at its heart. In this visionary work Christian Felber, founder of the Economy for the Common Good movement, offers a dazzling new paradigm for the global trading order. Confronting the `free trade religion' which has reigned since Adam Smith, Felber champions an alternative approach in which trade serves the wider interests of society, incorporating the key issues of our time: human rights, climate change, and the growing divide richer and poorer countries. He proposes the groundbreaking idea of an `Ethical Trade Zone', founded on a principled approach to tariffs and trade policies, and built with international cooperation on trade, taxation and labour. Penetrating and passionate, Christian Felber shows how this brave new economic world can be built democratically from the grassroots up, and how trading for good can be made a reality.
The interaction of sustainability governance and global value chains has crucial implications the world over. When it comes to sustainability the last decade has witnessed the birth of hybrid forms of governance where business, civil society and public actors interact at different levels, leading to a focus on concepts of legitimacy within multi-stakeholder initiatives (MSIs). Based in over 15 years of theoretical engagement and field research, Business, Power and Sustainability draws from both labour-intensive value chains, such as in the agro-food sector (coffee, wine, fish, biofuels, palm oil), and from capital-intensive value chains such as in shipping and aviation, to discuss how sustainability governance can be best designed, managed and institutionalized in today's world of global value chains (GVCs). Examining current theoretical and analytical efforts aimed at including sustainability issues in GVC governance theory, it expands on recent work examining GVC upgrading by introducing the concept of environmental upgrading; and through new conceptions of orchestration, it provides suggestions for how governments and international organizations can best facilitate the achievement of sustainability goals. Essential reading on the governance of sustainability in the twenty-first century.
Compiled by the United States Customs Service, this book is an essential source of information for anyone importing goods--commercial or personal property--into the United States. Topics covered in depth include:
Antidumping trade protection is one of the most frequent and ubiquitous trade policies in the global economy. This volume brings together the key reference pieces in the antidumping literature that have critically defined and shaped what we know about this important and unique form of trade protection. An introductory chapter by the editors, both scholars in this area, critically analyzes the literature and discusses its future directions. This is an important reference volume not only for new and established scholars in international economics, but also policymakers and legal intellectuals.
The response from the jewelry industry to a campaign for ethically sourced gold as a case study in the power of business in global environmental politics. Gold mining can be a dirty business. It creates immense amounts of toxic materials that are difficult to dispose of. Mines are often developed without community consent, and working conditions for miners can be poor. Income from gold has funded wars. And consumers buy wedding rings and gold chains not knowing about any of this. In Dirty Gold, Michael Bloomfield shows what happened when Earthworks, a small Washington-based NGO, launched a campaign for ethically sourced gold in the consumer jewelry market, targeting Tiffany and other major firms. The unfolding of the campaign and its effect on the jewelry industry offer a lesson in the growing influence of business in global environmental politics. Earthworks planned a "shame" campaign, aimed at the companies' brands and reputations, betting that firms like Tiffany would not want to be associated with pollution, violence, and exploitation. As it happened, Tiffany contacted Earthworks before they could launch the campaign; the company was already looking for partners in finding ethically sourced gold. Bloomfield examines the responses of three companies to "No Dirty Gold" activism: Tiffany, Wal-Mart, and Brilliant Earth, a small company selling ethical jewelry. He finds they offer a case study in how firms respond to activist pressure and what happens when businesses participate in such private governance schemes as the "Golden Rules" and the "Conflict-Free Gold Standard." Taking a firm-level view, Bloomfield examines the different opportunities for and constraints on corporate political mobilization within the industry.
The keys to global business success, as taught by a T-shirt's journey The Travels of a T-Shirt in the Global Economy is a critically-acclaimed narrative that illuminates the globalization debates and reveals the key factors to success in global business. Tracing a T-shirt's life story from a Texas cotton field to a Chinese factory and back to a U.S. storefront before arriving at the used clothing market in Africa, the book uncovers the political and economic forces at work in the global economy. Along the way, this fascinating exploration addresses a wealth of compelling questions about politics, trade, economics, ethics, and the impact of history on today's business landscape. This new printing of the second edition includes a revised preface and a new epilogue with updates through 2014 on the people, industries, and policies related to the T-shirt's life story. Using a simple, everyday T-shirt as a lens through which to explore the business, economic, moral, and political complexities of globalization in a historical context, Travels encapsulates a number of complex issues into a single identifiable object that will strike a chord with readers as they: Investigate the sources of sustained competitive advantage in different industries Examine the global economic and political forces that explain trade patters between countries Analyze complex moral issues related to globalization and international business Discover the importance of cultural and human elements in international trade This story of a simple product illuminates the many complex issues which businesspeople, policymakers, and global citizens are touched by every day.
This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.
The legal, political and economic rationales that underpin trade policy are reflected in the establishment and implementation of EU trade relations with the rest of the world. This comprehensive Handbook provides readers with a multidisciplinary overview of the major perspectives, actors and challenges in contemporary EU trade relations. Changes in institutional dynamics, Brexit, the politicisation of trade, competing foreign policy agendas, and adaptation to trade patterns of value chains and the digital and knowledge economy are reshaping the EU trade policy. The authors tackle how these challenges frame the aims, processes and effectiveness of trade policy-making in the context of EU trade relations with developed, developing and emerging states in the global economy. This Handbook presents students and practitioners with an accessible introduction to the policy processes in EU trade policy. Policy-makers, especially those outside of the EU, will also gain key knowledge regarding the trade policies of the EU by reading this.
The yen is now one of the major currencies freely traded in the world, and yet, many Japanese exporters take on a currency risk by invoicing in US dollars. In this book, the authors examine why this is the case, particularly for those exporters who have a strong presence in global markets. Managing Currency Risk enhances our understanding of exporters' behaviour by analysing the key factors that influence their choice of invoice currency. Detailed research based on unique data sets is used to highlight how firm size, product competitiveness, intra/inter-firm trade and the geography of export destination impact this decision. This book is a valuable resource for international finance researchers and political economists wishing to discover up-to-date information regarding currency invoicing by multinational firms. It will also be a vital tool for financial and governmental practitioners to discover more about their competitors' behaviour.
Over two centuries, the East India Company grew from a loose association of Elizabethan tradesmen into 'the Grandest Society of Merchants in the Universe' – a huge commercial enterprise which controlled half the world's trade and also administered an embryonic empire. A tenth of the British exchequer's total revenue derived from customs receipts on the Company's UK imports; its armed forces exceeded those of most sovereign states. Without it there would have been no British India and no British Empire.
John Keay reconstructs this epic of expansionist endeavour from the journals and records of the Company's employees: the first experimental voyages to the East; the earliest, often disastrous, settlements; the later, often inglorious, wars; and the often venal administrations. The story sweeps from southern Africa to north-west America, and from the reign of Elizabeth I to that of Victoria, abounding in bizarre locations and roguish personalities. From Bombay to Singapore and Hong Kong, the political geography of today is undeniably the creation of the Company.
"The first accessible narrative history of the English East India Company which has appeared for some time…Keay recounts his story with the sweep of a James Michener, but one anchored in the meticulous scholarship of historians…Commercial successes and failures, battles and politics from Table Bay to Tokyo Bay are treated with verve and clarity."
"Keay tells the story with skill and anecdotal lightness…Spices are aromatic, mosquitoes bite, the seas roar in Keay's fact-crammed book, and the narrative races as in a novel."
"Lively and thoroughly literate…an outstandingly wise and balanced account."
"Enough rumbustious adventure stories to shock and delight any armchair reader."
We have long been told that corporations rule the world, their interests seemingly taking precedence over states and their citizens. Yet while states, civil society and international organizations are well drawn in terms of their institutions, ideologies and functions, the world s 100,000 + global corporations are often more simply sketched as mechanisms of pure profit maximization. In this book, John Mikler recasts global corporations as political actors with complex identities and strategies. Debunking the idea of global corporations as exclusively profit-driven entities, he shows how they seek not only to drive or modify the agendas of states but to govern in their own right. He also explains why we need to re-territorialize global corporations as political actors which reflect and project the political power of the territories from which they hail We know the global corporations names, we know where they are headquartered, and we know where they invest and operate. Economic processes are increasingly produced by the control they possess, the relationships they have with other actors, the leverage they employ, the strategic decisions they make, and the discourses they create to enhance acceptance of their interests. This book represents a call to study how they do so, rather than making assumptions based on theoretical abstractions.
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