The US-China trade war instigated by President Trump has thrown the multilateral trading system into a crisis. Drawing on vast interview and documentary materials, Hopewell shows how US-China conflict had already paralyzed the system of international rules and institutions governing trade. The China Paradox - the fact that China is both a developing country and an economic powerhouse - creates significant challenges for global trade governance and rule-making. While China demands exemptions from global trade disciplines as a developing country, the US refuses to extend special treatment to its rival. The implications of this conflict extend far beyond trade, impeding pro-development and pro-environment reforms of the global trading system. As one of the first analyses of the implications of US-China rivalry for the governance of global trade, this book is crucial to our understanding of China's impact on the global trading system and on the liberal international economic order.

This book presents a radically innovative view on trade shows as knowledge-rich places, where firms learn through observation and interaction with other economic actors, and as enablers, rather than mere consequences, of globalization. Traditionally seen as marketing tools, trade shows are conceptualised as temporary clusters that facilitate the creation and diffusion of knowledge across geographical distances, even in the age of social media. The book is organized in four parts. Part I lays out the conceptual foundations of the knowledge-based perspective, from the early development of trade fairs to modern-day events. Part II analyses specific global developments, focussing on the trade show ecologies of Europe, North America, and the Asia-Pacific region. Part III investigates differences in the nature of knowledge generation practices across international hub shows, exports shows, and import shows in different industries, and investigates competition between such events. Part IV discusses the implications of a knowledge-based conceptualisation of trade shows. The book will be of interest to scholars and students in economic geography, management, marketing, organization studies, political science, and sociology. It also has practical implications for trade show organisers on how to make their events more competitive through knowledge-based strategies; for industry associations and cities, on how to use these events for collective/place marketing purposes; and for policy makers, on how to use trade shows for export promotion and innovation policies.

This introduction to all aspects of international economics, business and finance is the clearest guide available to the economics of the world we live in. Written in a highly engaging style, packed full of up-to-the minute, real-world case studies and pitched at introductory level, the book does an expert job of drawing students in and will leave them equipped with a comprehensive toolkit of methods and essential facts. Now in its fourth edition, Global Economic Issues and Policies reflects continuing changes in the world economy and in the analysis of international economics. Chapter introductions, pedagogy and data have all been thoroughly updated throughout, including the addition of a new 'Issues & Policies Notebook' feature. Key topics for expansion and revision include: Evolution of Comparative Advantage Import Quotas and Subsidies Services in Regional and Multilateral Trade Agreements Balance of Payments Accounting Unconventional Central Bank Policies Territorial versus Worldwide Taxation and "Tax Inversions" The role of Foreign Exchange Markets and Exchange-Rate Arrangements Public Policy Issues in International Money and Finance The text is suitable for any introductory module in international economics and business, whether taught as part of an economics, business or international studies program. It is also the ideal MBA level introduction to the global economy.

Recent trends suggest that international economic law may be witnessing a renaissance of convergence - both parallel and intersectional. The adjudicative process also reveals signs of convergence. These diverse claims of convergence are of legal, empirical and normative interest. Yet, convergence discourse also warrants scepticism. This volume contributes to both the general debate on the fragmentation of international law and the narrower discourse concerning the interplay between international trade and investment, focusing on dispute settlement. It moves beyond broad observations or singular case studies to provide an informed and wide-reaching assessment by investigating multiple standards, processes, mechanisms and behaviours. Methodologically, a normative stance is largely eschewed in favour of a range of 'doctrinal,' quantitative and qualitative methods that are used to address the research questions. Furthermore, in determining the extent of convergence or divergence, it is important to recognize that there is no bright line or clear yardstick for determining its nature or degree.

Within the theoretical framework of the trade-growth and structural transformation-growth nexuses, the book examines the evolution of African (goods and service) trade in terms of value and share of global commerce relative to other regions during the period 1948-2017. It also identifies and discusses discernible changes in the composition and structure of African exports and imports between 1995 and 2015 and their implications for economic development in Africa. The study attributes Africa's laggard trade performance during the period primarily to sub-optimal macroeconomic policies and lack of bold export development policies and initiatives, among other factors. It also offers an incisive discussion of several inhibitions to the structural transformation of African exports and imports, including lack of finance, globalization, tariff, and non-tariff measures in global markets. The discussion of the evolution of African trade during the period 1948-2017 based on statistics and publications of international organizations, including the UNCTAD, the World Bank, and the African Development Bank, among others, is the first of its kind in terms of scope and depth of review of African trade. The analyses of cross-border trade during 1948-2017 and their implications for Africa's economic development prospects constitute a useful reference material for academics and students of African and development studies and African and international policymakers.

One of the most important yet least understood organizations in the world, the WTO is a lynchpin of globalization, allowing us to enjoy products and services from around the globe. However, it also lays bare the frailty of many industries, leading some to claim that it stokes unemployment and harms the developing world. In this engaging introduction, David Collins examines the goals of the WTO and the difficulties experienced by member countries struggling to adapt to the pressures of globalization. Refuting the argument that the WTO should expand its mandate to cover wider social issues, Collins demonstrates how this would confuse the organization's primary objective - to liberalize international trade. With case studies straight from the headlines and clear explanations of complex issues like regional trade agreements and currency manipulation, this lucid exposition is an essential insight into what the WTO does and how it fits into the world we know.

The contemporary orthodox view of world trade has centred, generally unchallenged, on the ideas of free trade, based on the theoretical construct of comparative advantage. This book will engage in a critique of the orthodox position based on the underlying theoretical economic construct, the historical development of the now developed economies and the morally unsustainable position of the free-trade regime.

The author examines alternatives such as Most Favoured Nation and Preferential Trading Agreements before making the argument in favour of Asymmetric Trading, where the underdeveloped economies can develop behind tariff barriers and quotas, whilst the triadic nations maintain a lack of barriers to the exports of these economies. He outlines how such a trading regime would be mutually beneficial in the long term, in the sense that development through industrialisation takes place and the increase in GDP per capita would allow markets for exports to be sustainable, thus widening the market for the goods and services of the developed economies. However, the author demonstrates that free trade actually increases the development gap by maintaining the status quo in terms of the underdeveloped economies specialising in and exporting low value-added primary products and importing high value-added manufactures.

The book analyses contemporary and historical data to illustrate how an alternative trading regime can be truly advantageous to both the developed and underdeveloped regions of the world: a global trading regime that is capable of increasing GDP in a sustainable manner without transferring a surplus from the poor to the rich nations and without a long-term commitment on the part of the developed nations to altruism.

Table of Contents

1. Introduction.

2. The Theory of Free Trade.

3. A Critique of the Theories of Free Trade.

4. Historical Arguments Against Free Trade.

5. The Moral Arguments for an Alternative Global Trading Regime.

6. The Inadequacy of Preferential Trading Agreements.

7. Contemporary Protectionism and its Effect on Underdeveloped Economies.

8. The Developmental State and Infant Industry Protection.

9. The Theory of Unequal Exchange.

10. Asymmetric Trade Explained.

11. The Global Benefits of Asymmetric Trading.

12. Conclusions

This book provides an economic perspective on the effects of food safety standards on international trade. Focusing on food safety regulation at an international level and private food safety standards, the authors use contemporary methodologies to analyze supply chain structures and organization as well as food-chain actors' strategies. They also evaluate the effects of these on both consumer health and developing countries' access to international markets. The book provides ideas, suggestions and policy recommendations for reconciling economic interests with consumer health, which will be of special interest to academics as well as to practitioners.

This edited volume of essays examines a wide range of issues related to the regionalisation of competition policy in South East Asia, where the ten member states of ASEAN have launched the ASEAN Economic Community (AEC). Written by a diverse group of academics, practitioners and policy-makers, this book explore issues such as the role of competition policy in facilitating the market-integration ambitions of the ASEAN member states, the challenges arising from divergences in the national competition law regimes of the ASEAN member states, and the absence of a supranational legal framework and the future of competition policy in light of the AEC Blueprint 2025. Given the nexus between regional competition policy and regional market integration, this book will be of particular interest to lawyers, economists and policymakers working in the fields of competition law and regional trade law.

Brexit represents a momentous event for the European Union, with important implications on the future of Europe. While most scholarly attention has focused on the Brexit process and its consequences for the United Kingdom, and UK-EU relations, Brexit has had important consequences also for the EU. This book examines how the EU has changed during Brexit and because of Brexit, while also reflecting on the developments of the EU besides Brexit and beyond Brexit. As the book argues, the UK withdrawal from the EU - the first ever case of disintegration since the start of the European integration process - creates an urgent need to reform the EU. In fact, while the EU institutions and its member states have remained united in their negotiations vis-a-vis the UK, Brexit has created transitional problems for the EU, and exposed other serious fissures in its system of governance which need to be addressed moving forward. As the EU goes through another major crisis in the form of the response to the Covid-19 pandemic, the case for increasing the effectiveness and the legitimacy of the EU grows stronger. In this context, the book analyses the plan to establish a Conference on the Future of Europe, examines its precedents and discusses its prospects. As the book suggests that, after Brexit, the initiative to launch a Conference on the Future of Europe is a necessary step to renew the EU and relaunch integration.

In the aftermath of the French Revolution, advocates of protection against foreign competition prevailed in a fierce controversy over international trade. This groundbreaking study is the first to examine this 'protectionist turn' in full. Faced with a reaffirmation of mercantile jealousy under the Bourbon Restoration, Benjamin Constant, Jean-Baptiste Say and regional publicists advocated the adoption of the liberty of commerce in order to consolidate the new liberal order. But after the Revolution of 1830 a new generation of liberal thinkers endeavoured to reconcile the jealousy of trade with the discourse of commercial society and political liberty. New justifications for protection oscillated between an industrialist reinvention of jealousy and an aspiration to self-sufficiency as a means of attenuating the rise of urban pauperism. A strident denunciation of British power and social imbalances served to defuse the internal tensions of the protectionist discourse and facilitated its dissemination across the French political spectrum.

Africa is endowed with commercially viable quantities of several minerals and metals, and, more than ever before, African countries wish to harness their mineral resources for their economic development. The African mining sector has witnessed a revolution in terms of new mining codes and amendments to extant mining codes, which are designed to achieve a multitude of objectives, including the assertion of greater control over exploitation of mineral resources; optimization of resource royalties and taxes; promotion of equity participation in mining projects; enhancement of indigenization in the form of domestic participation in mineral production and local content requirements; value addition and beneficiation in terms of domestic processing of raw mineral ores and metals in Africa; and the promotion of sustainable practices in the mining sector. This book analyzes the legal and fiscal frameworks for hard-rock mining in several African countries including Botswana, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Namibia, Nigeria, Liberia, Tanzania, Sierra Leone, South Africa, South Sudan, Zambia, and Zimbabwe, with reference to other resource-rich countries. It engages in a comparative analysis of mining statutes in Africa with regard to topics such as the acquisition of mineral rights; types of mineral rights; the nature of mineral rights; the rights and obligations of mineral right holders; security of mineral tenure; surface rights; fiscal regimes including royalty and tax regimes; resource nationalism in the mining sector; management and utilization of mining revenues including benefit-sharing arrangements between mining companies and host communities; environmental stewardship; and sustainable exploitation of mineral resources.

Why has ASEAN endured and why do members, many of whom remain comparatively weak and poor, continue to invest in the regional project? Existing answers, either that ASEAN is meaningless or that it has transformed regional affairs through the creation of shared values are both misplaced. Neither argument is empirically plausible. Instead, this Element argues that ASEAN has and continues to serve state interest through the creation of a shared ritual and symbolic framework. This framework has mitigated regional tension through the performance of regionalism, but has not fundamentally addressed the sources of that tension.

The Caribbean's history is inseparable from sugar, and the crop is still an important feature in the economics of many islands, from Cuba to Barbados. In Jamaica entire communities depend on the sugar industry, earning a precarious living on old-fashioned plantations. What is life like on a sugar plantation at the end of the 20th century? What will happen if the sugar industry collapses? How do the poverty-stricken cane-cutters of rural Jamaica fit into this global industry? This work looks at the world sugar business, identifying the key players - producers, markets and transnational companies - and explaining how the industry works. It explores the economics and politics of trading arrangements, the mysteries of the futures market and the technology of sugar production. Based on interviews with traders, buyers and producers, it follows the commodity's progress from canefield to sugar bowl. The book finally assesses the future of sugar, both in Jamaica and the wider world, and considers future options for those still ruled by "King Sugar".

This volume constitutes the first ever attempt to establish a basis for comparative research on defence procurement regulation. For decades there has been repeated emphasis on the extent to which barriers to trade in Europe and the US prevent a more competitive defence market. Transatlantic Defence Procurement offers the first analysis of the potential impact of defence procurement regulation itself as a barrier to trade between the US and the EU. Part I examines the external dimension of a new EU Defence Procurement Directive, focusing on its implications for third countries, in particular the US. Part II examines foreign access and treatment under US law. Part III maps a future research agenda that is essential for a more systematic understanding of legal barriers to transatlantic defence trade. The book provides context for future initiatives, ranging from reformed market access arrangements to a Defence Transatlantic Trade and Investment Partnership and beyond.

The concept of the One Belt One Road initiative (OBOR) was raised by the President of the People's Republic of China in October 2013. The OBOR comprises the 'Silk Road Economic Belt' and the '21st Century Maritime Silk Road', encompassing over 60 countries from Asia to Europe via Southeast Asia, South Asia, Central Asia, West Asia, and the Middle East. The overall objective of the OBOR is to encourage the economic prosperity of the countries along the Belt and Road and regional economic cooperation, encourage mutual learning between different civilizations, and promoting peace and development. However, countries along the Belt and Road routes of the OBOR project have diverse laws and legal systems. It is not difficult to envisage problems relating to harmonisation of laws and rules in trade between countries along the OBOR routes or otherwise. These problems can potentially cut through the core of the very objective of the OBOR itself. Integration in China's One Belt One Road Initiative explores possible challenges to the success of the OBOR arising from the situational interface of diversity of laws, with the focus primarily on issues associated with private international law. It shows the latest state of knowledge on the topic and will be of interest to researchers, academics, policymakers, and students interested in private international law issues pertaining to the OBOR routes as well as private international law in general, Asian studies, and the politics of international trade.

This book is a comprehensive examination of the Indian textile industry and the various determinants affecting its export performance, trends in labour, and capital productivity in the post-liberalization years. Employing 45 million people, including skilled and unskilled workers, the Indian textile and clothing industry occupies a significant position in the Indian economy in terms of industrial production, employment, and exports. This work traces the growth and expansion of this industry in the post-reform period and studies its contributions to the economic development of the nation. It discusses global trade agreements, India's share in international exports, and its major trading partners across the globe including the USA, UK, UAE, Germany, China. It also provides recommendations to Indian policy makers for a possible improvement in the textile exports across the globe. The Textile Industry and Exports in Post-Liberalization India will be of interest to students and researchers of politics and international relations, economics, development studies, labour economics, sociology and social policy, and South Asian studies.

WTO law sets the global minimum standards for trade regulation, while allowing some regulatory flexibility for developing countries. The exact scope of regulatory flexibility is often unclear and, at times, flexibility may be counterproductive to sustainable economic growth in developing countries. Undisputedly, developing countries would have some flexibility with respect to tailoring preferential services trade agreements to their individual economic needs and circumstances, but empirical data from over 280 preferential services trade agreements worldwide shows that this flexibility is rarely used. This volume clarifies the regulatory scope of flexibility for preferential services trade agreements between developing countries by linking the legal interpretation of WTO law with evidence from research in economics and political sciences. The book suggests that the current regulatory framework leaves room for meaningful flexibility for developing countries, and encourages policymakers and scholars to take these flexibilities into consideration in their design and study of trade policies.

Providing extensive coverage of international trade law from an economic development perspective, this second edition of Reclaiming Development in the World Trading System offers discussion of key principles of international trade law, trade measures, trade and development issues, and regulatory reform. Including such topics as the most-favored-nation principle, national treatment, and tariff binding, Lee also offers insightful analysis into new areas pertaining to agriculture and textile, trade-related investment, intellectual property rights, and trade in services. Looking at trade and development issues in Asia, Africa, and Latin America, as well as microtrade, an innovative international trade system designed to relieve the absolute poverty of least-developed countries, this book is essential reading that gives context to development interests and advances specific regulatory and institutional reform proposals. Lee lends insight into these topics with case analysis exemplifying how our trading systems have been adopted by the developing world in order to foster their own economic development.

With protectionist sentiment and economic nationalism on the rise, international trade and how it is governed is at the heart of some of the most important contemporary economic and political debates. Comprehensive and clear, this book skilfully outlines and analyses the dynamics of trade in the 21st century. Ken Heydon examines three broad themes: the nature and distribution of the gains from trade, the institutional and governance framework of the international trade system, and the contentious practical issues confronting policy-makers across the world. He considers pressing contemporary debates surrounding issues ranging from agriculture and food security to the links between trade and environment protection, core labour standards and intellectual property rights. He demonstrates the importance of a change of mindset in terms of how we see trade policy: it should not, he argues, be simply a question of international negotiation, but also a key component of sound domestic economic management. In short, we need to put commerce in context. Drawing on the author's experience as a policy practitioner, trade policy analyst and teacher, the volume is informed by an extensive analysis of the literature and by relevant case studies. It is designed for students and scholars of international political economy and trade policy, trade officials, and the general public.

In recent years, China, the US, and the EU and its Member States have either promulgated new national laws and regulations or drastically revised existing ones to exert more rigorous government control over inward foreign direct investment (FDI). Such government control pertains to the establishment of an ex-ante review regime of FDI in the host state in sectors that are considered as 'sensitive' or 'strategic', with an aim to mitigate the security-related implications. This book conducts a systematic and up-to-date comparative study of the national security review regimes of China, the US, and the EU, using Germany as an exampling Member State. It answers a central research question of how domestic law should be formulated to adequately protect national security of the host state whilst posing minimum negative impacts to the free flow of cross-border investment. In addition to analyzing the latest development of the national security review regimes in aforementioned jurisdictions and identifying their commonalities and disparities, this book establishes a normative framework regarding the design of a national security review regime in general and proposes specific legislative recommendations to further clarify the law. This book will be of interest to scholars in the field of international and comparative investment law, investors who seek better compliance programs in the host state, and policymakers who aim for high-quality regulation on foreign investment.

Why do states block some foreign direct investment on national security grounds even when it originates from within their own security community? Government intervention into foreign takeovers of domestic companies is on the rise, and many observers find it surprising that states engage in such behaviour not only against their strategic and military competitors, but also against their closest allies. Ashley Lenihan argues that such puzzling behaviour can be explained by recognizing that states use intervention into cross-border mergers and acquisitions as a tool of statecraft to internally balance the economic and military power of other states through non-military means. This book tests this theory using quantitative and qualitative analysis of transactions in the United States, Russia, China, and fifteen European Union states. It deepens our understanding of why states intervene in foreign takeovers, the relationship between interdependence and conflict, the limits of globalization, and how states are balancing power in new ways. This title is also available as Open Access.

In the late nineteenth century, Latin American exports boomed. From Chihuahua to Patagonia, producers sent industrial fibers, tropical fruits, and staple goods across oceans to satisfy the ever-increasing demand from foreign markets. In southern Mexico's Soconusco district, the coffee trade would transform rural life. A regional history of the Soconusco as well as a study in commodity capitalism, From the Grounds Up places indigenous and mestizo villagers, migrant workers, and local politicians at the center of our understanding of the export boom. An isolated, impoverished backwater for most of the nineteenth century, by 1920, the Soconusco had transformed into a small but vibrant node in the web of global commerce. Alongside plantation owners and foreign investors, a dense but little-explored web of small-time producers, shopowners, and laborers played key roles in the rapid expansion of export production. Their deep engagement with rural development challenges the standard top-down narrative of market integration led by economic elites allied with a strong state. Here, Casey Marina Lurtz argues that the export boom owed its success to a diverse body of players whose choices had profound impacts on Latin America's export-driven economy during the first era of globalization.

This volume incorporates important surveys from a historical perspective. The masterly survey of Bhagwati provides great intuition about trade theoretical results and Chipman's three surveys present the mathematics of trade theory. These are very deep surveys from a mathematical point of view and show, for example, the Ricardian model as an application of Quasi-Concave programming and also the magnificent use of Sperner's Lemma for the odd and even intersections that occur in some problems in trade theory. There are also other surveys bringing the literature up to date and covering specific topics in trade theory.

Public institutions, companies and governments in the EU and around the world are increasingly engaging in sustainable public procurement - a broad concept that must consider the three pillars of economic equality, social welfare and public health and environmental responsibility when designing public tenders and finalizing government contracts. This book contributes to the development of life-cycle criteria tools and methodologies for public procurement in the EU. It collects both sector-crossing contributions analysing the most relevant theoretical and legal aspects, including both EU law and contract theory, and sector-specific contributions relating to some of the most important sustainable goods and services markets. The book starts with a chapter that discusses the different approaches to including sustainability considerations in buying decisions by both private and public purchasers, and then goes on to examine the EU law on LCC and how it is implemented in different Member States. These chapters address the challenges in balancing economic and sustainability objectives under EU internal market law. One chapter develops the analysis with specific reference to public-private partnership. Another chapter elaborates how multi-stakeholders' cooperation is necessary to develop LCC, based on a case study of a lighting services procurement. Three sector-specific studies relating to social housing, textile and clothing and IT close the book. With contributors from a range of backgrounds including law, business, management, engineering and policy development, this interdisciplinary book provides the first comprehensive study on LCC within the framework of EU public procurement law.