An unprecedented trade war broke out between the world's two largest economies in 2018 and escalated subsequently. It is the first major economic conflict to occur in the era of globalization, with its aftermath going far beyond trade. The trade war weighs heavily on China and the United States and threatens the world economy and the global trading system. This book provides a timely account of the China-US trade war with insights into its causes and consequences. Examining through the lenses of both history and theory, it analyzes the context and causes of the trade war, the intertwined processes of tariff combat and trade negotiations, and the impacts on international trade, foreign direct investment, macroeconomic performance and firm behaviour. It also addresses the long-term strategic and geopolitical implications of the ongoing trade and economic confrontation. This book will appeal to those interested in international economics and politics, global governance and development.

This book adds a whole new dimension to the editors' previous work on the social, economic, and environmental effects of global trade. For the first time it brings all three pillars of sustainability together into one coherent multiregional input-output (MRIO) framework. It shows the power of MRIO analysis to illuminate the local and global interdependencies of economic, environmental, and social systems and the benefits to be gained through analysing all three together. Change one thing and everything else changes. With chapters from around 60 researchers across 34 countries, this book illustrates the effect of natural resources and government policy settings 1990-2015 on the balancing act that was-and is-global trade. It provides a holistic systems' view of how supply chains work, revealing how easily they can become fragmented and out of kilter. And within all the chaos of COVID-19 it shows how MRIO is the one tool that can help rebuild a post-pandemic global economy into a fairer, safer world.

This book analyses India's trade policy evolution in the last two decades in the broad context of trends and patterns in global trade and in particular, with reference to the emergence of global value chains (GVCs). Through an in-depth analysis of its trade policy evolution in the 2000s, the author explains India's limited share of global merchandise trade, especially manufacturing trade and relatively low GVC integration. The book discusses India's trade policy, pattern and global trade participation not just in the comparative context of China as is true of most analyses relating to the Indian economy, economic reforms and trade liberalization in India but also in the context of regional economies like Vietnam, Thailand, Malaysia, Bangladesh and other emerging market economies (EMEs) that have successfully integrated with GVCs/ RVCs in the period under reference. Progress and nature of India's value chain participation relative to other economies has been evaluated in this context. The book further examines policy developments with respect to traditional trade measures like tariffs and export schemes, trade and GVC related policies in special economic zones (SEZs) as well as GVC-facilitating policy instruments such as regional/ free trading agreements (RTAs/FTAs) and investment treaties. Three sectoral case studies - automobiles, textiles and apparel and electronics - are presented to examine India's participation in these dynamic GVC intensive sectors. An important study of one of the fastest growing economies in the world for almost two decades, this book will be of substantial interest to academics and policymakers in the fields of Economics, International Economics, Foreign Policy, Economic Relations, Economic Diplomacy, Indian- Southeast/East Asian Economics.

How multinationals contribute, or don't, to global prosperity.Globalization and multinational corporations have long seemed partners in the enterprise of economic growth: globalization-led prosperity was the goal, and giant corporations spanning the globe would help achieve it. In recent years, however, the notion that all economies, both developed and developing, can prosper from globalization has been called into question by political figures and has fueled a populist backlash around the world against globalization and the corporations that made it possible. In an effort to elevate the sometimes contentious public debate over the conduct and operation of multinational corporations, this edited volume examines key questions about their role, both in their home countries and in the rest of the world where they do business. Is their multinational nature an essential driver of their profits? Do U.S. and European multinationals contribute to home country employment? Do multinational firms exploit foreign workers? How do multinationals influence foreign policy? How will the rise of the digital economy and digital trade in services affect multinationals? In addressing these and similar questions, the book also examines the role that multinational corporations play in the outcomes that policymakers care about most: economic growth, jobs, inequality, and tax fairness.

Covering the years 1971-89 the book presents the first substantial analysis of the enormous international expansion of Japanese banks. It is therefore an invaluable source of information for academics and businessmen alike. The focus on their presence in Europe and the assessment of implications after 1992 is a perspective never applied before. Two-and-a-half years of research in London, Frankfurt and Tokyo have resulted in the development of a systematic approach to identify the key pressures shaping their strategies.

This book aims to reframe the broader debate on the recent globalization backlash and its implications for middle-powers such as Canada. Protectionists have been accused of unraveling the multilateralist world order. The United States pulling out of the Trans-Pacific Partnership Agreement, the renegotiation of the North American Free Trade Agreement, and a series of tariffs imposed by both the United States and China threaten global economic integration. Fierce protectionist rhetoric risks gridlocking a fragile trade system that faces rising discontent, especially in light of the recent globalization backlash. American geopolitical hostilities are also influencing trade policies, notably punitive tariff and trade sanctions. Meanwhile, these fears are not limited to trade. The ongoing challenge to American hegemony and rising globalization backlash are dangerous signals of economic unpredictability that could perilously escalate towards outright conflict. This edited volume, then, tackles the trends of rising economic nationalism, unilateralism and protectionism to shed light on these vital foreign policy issues. The chapters in this book were originally published as a special issue of the Canadian Foreign Policy Journal.

Despite three decades of continuous globalization, transitional economies in many countries remain marginalized. In order to maximize the positive growth of employment creation opportunities in various sectors, including agriculture, existing patterns of long-run sustainable equilibrium relationships, technology transfers, and trade to promote export-led economic growth must be examined and identified. Regional Trade and Development Strategies in the Era of Globalization provides a comprehensive overview of globalization and regional initiative trends of trade and development through the examination of theoretical and practical experiences of their underpinning principles through approaches to overcome the obstacles of globalization and its positive and negative impacts on global trade and economic development. The content within this publication examines economic integration, foreign investment, and financial risk. It is designed for trade specialists, government officials, students, researchers, policymakers, business professionals, academicians, and economists.

This book focuses on EU-MERCOSUR relations from a diplomatic and trade perspective against the background of the political agreement between the two in 2019. The authors take into consideration that EU-MERCOSUR cooperation developed during recent decades has tried, on the one hand, to build a strategic partnership to respond to the main challenges of international agendas and, on the other, to incorporate in Latin American countries the European new vision of transatlantic regionalism. Starting from a historical perspective of the development of interregionalism between the EU and MERCOSUR, the book goes on to study the geopolitical impacts of Brexit, stagnation of the EU-USA relationship, the COVID-19 pandemic, and of new geopolitical players in EU-LAC interregionalism. It discusses the legal institutional framework of the EU-MERCOSUR relations and provides a comparative view of features of MERCOSUR countries vis-a-vis the European Union. The book also analyses and provides a comprehensive overview of various aspects of interregional trade in the context of the 2019 agreement. Highly topical and authored by experts in this field, this book is of interest to a wide readership in the social sciences and economics: from political sociology to international relations, diplomacy studies and international trade.

China has developed a piecemeal pattern of regulating foreign investment since the end of 1970s. The latest law is the Foreign Investment Law (FIL), which became effective on 1 January 2020. The groundbreaking new FIL is well acknowledged for its promises and affirmations pledged to investors, signalling China's eagerness to improve its investment environment and regain momentum for investment growth. This book provides an updated and holistic understanding of the key features of the regulatory regime on foreign investment in China with critical analysis of laws and their implementation. It also examines sensitive and complex legal issues relevant to foreign investment beyond the 2020 FIL and new developments on foreign-related dispute settlement. The book uses cases of success and failure to illustrate the nuances and differences between law and practice regarding foreign investment. Considering China's magnitude in the global economy and the weighty role of the regulatory system on foreign investment in China, this book is of great interest to a wide range of audience including academics in the field of investment law, legal practitioners, policymakers, and master's students in law and in management.

This book addresses the role of domestic courts in the enforcement of international trade agreements by examining the experiences of Brazilian and the European Union courts. This comparative study analyzes the differences, similarities and consequences of Brazilian and European courts' decisions in relation to the WTO agreements, which have "direct effect" in Latin American emerging economies, but not in the European Union or other developed countries. It observes that domestic courts' enforcement of international trade agreements has had several unintended and counterproductive consequences, which were foreseeable in light of international scholarly debate on the direct effect of WTO agreements. It draws lessons from these jurisdictions' experiences and argues that the traditional academic literature that fosters domestic courts' enforcement of international law should be reconsidered in Latin America in relation to international trade agreements. This book defends the view that, as a result of their function and objectives together with the principles of popular sovereignty and democratic self-government, international trade agreements should not be considered to be self-executing or to have direct effect. This empirical work will be valuable to anyone interested in the effects of international trade rules at the domestic level and the role of domestic judges in international law.

In a complex political and environmental global landscape, it has never been more critical for global organizations to understand the past, present, and future of Chinese corporate governance: this book is the key.

Leveraging her dual-cultural background and using a board-level practitioner’s lens, Lyndsey Zhang offers insights that will help the global business community better understand Chinese companies’ corporate governance practices and economic development journeys, shorten the learning curve for global business leaders and investors, and explore different economic models that better suit emerging markets.

She addresses important questions such as:

• How does the Chinese government manage to retain its controlling position in Chinese companies while still making them attractive to global investors?
• What are the drivers for Chinese companies’ future corporate governance improvement?
• What is China’s position on the worldwide ESG and climate change movements?
• How can global practitioners feel less like "navigating in the dark" when working with Chinese companies?

This book will be an invaluable resource for anyone seeking to understand the rapidly changing world of Chinese corporate governance, including global investors, senior executives in multinational corporations, consultants, financial and political policymakers, business and law students, and researchers.

The insolvency of multinational corporate groups creates a compelling challenge to the commercial world. As many medium and large-sized companies are multinational companies with operations in different countries, it is important to provide appropriate solutions for the insolvency of these key market players. This book provides a comprehensive overview of the cross-border insolvency theories, practical solutions and regulatory solutions for the insolvency of multinational corporate groups. Whilst the book recognises certain merits of these solutions, it also reveals the limitations and uncertainty caused by them. An analysis of the provisions and tools relating to cross-border insolvency of multinational corporate groups in the new EU Regulation on insolvency proceedings 2015, the UNCITRAL Model Law on cross-border insolvency, the Directive on preventive restructuring frameworks and the Bank Recovery and Resolution Directive 2014, along with a study of directors' duties, are included in this book. This book focuses on the insolvency and rescue of non-financial corporate groups. However, it is also important to recognise the similarities and differences between corporate insolvency regimes and bank resolution regimes. In particular, lessons learnt from bank resolution practices may be useful for non-financial corporate groups. This book aims to provide an in-depth examination of the existing solutions for the insolvency of multinational corporate groups. It also aims to view cross-border insolvency of corporate groups within a broad context where all relevant regimes and theories interact with each other. Therefore, directors' duties in the vicinity of insolvency, preventive insolvency proceedings, procedural consolidation, international cooperative frameworks and bank resolution regimes are considered together. This book may appeal to academics, students and practitioners within the areas of corporate law, cross-border insolvency law and financial law.

Beyond identifying and characterising the particular types of risk and liability that may arise in decentralised digital economies, this book suggests safeguards for different types of distributed networks. It explores relationships between people and will be of interest to academics, practitioners, and students.

Gibbons analyzes the ruinous three-year trade embargo imposed on Haiti in response to the September 1991 coup d'etat to President Aristide's return to office in October 1994. She dissects the multidimensional impact of sanctions on Haitian society by examining the economic devastation and social dislocation that they provoked, despite the mitigation of humanitarian exemptions consistently granted by the Security Council. Gibbons also examines the counterproductive, unpredictable effects that sanctions have had on Haiti's nascent democratic institutions and processes.

Drawing on contemporary research of noted academics and international legal experts, this analysis places Haiti's experience of sanctions in a wider context. From the Haiti case, Gibbons draws conclusions about the utility of comprehensive sanctions as an instrument for the advancement of democracy and human rights and recommends measures that policymakers may find better suited to achieving these objectives.

This book provides one of the most detailed and comprehensive examinations of the Moroccan argan tree, the products derived from it and its cultural significance. The Moroccan argan trade is booming, but as the tree provides important ecological functions and plays an important role, both financially and culturally, for the Amazigh (Berber) people it has become a key topic of debate. This book thoroughly examines the production stories, benefits and impacts and provides a value-chain analysis which compares different cooperatives and approaches to production. It assesses the fair-trade approaches and attempts at sustainable production of the bio-trade resource. While being a vital source of income, the argan tree has a significant cultural importance to the Indigenous people and the book assesses the impact of the argan trade on their well-being, community and livelihoods. It examines Indigenous knowledge and intellectual property issues relating to the trade, as well as Berber-state law and politics. Assessing factors relating to legal and economic geography international trade, socio-cultural and human-nature relationships, the book provides a comprehensive analysis of the argan tree which will appeal to students, scholars and practitioners.

The 'Belt and Road' initiative announced by Chinese President Xi Jinping in 2013 aims at reviving the ancient trade routes connecting China to Europe and Africa: the '21st Century Maritime Silk Road' and the inland 'Silk Road Economic Belt'. Both maritime and land routes of the New Silk Road meet Europe in the Baltics - a region accounting for some 150 million inhabitants representing 30% of the total EU population. The maritime route enters Europe through the Mediterranean Sea before reaching the largest European seaports of the North Sea and the Baltic Sea up to Saint Petersburg in Russia. The land route starting from West China crosses Central Asia, Russia and Belarus before reaching the shores of the Baltic Sea.This book focuses on the business and economic dimensions of China's initiative: Chinese government objective and policies, the strategies of Chinese and foreign firms along the Silk Road, trade and investment between China and Nordic-Baltic countries, the Eurasia Land Bridge corridors and logistics, the impact of the New Silk Road on the economies of Central Asia, new institutions financing the 'Belt and Road', cross-cultural challenges and Sino-foreign joint ventures along the New Silk Road. The direct impact of China's initiative on economic sectors such as logistics services; the shipping, port management and maritime industry; construction and high-speed train; energy and engineering; and e-commerce, information technology and tourism will be assessed.Readers will be provided with an in-depth analysis of the opportunities and challenges for companies and regions along the New Silk Road as well as 17 short case studies focusing on China-led projects currently developed along the 'Belt and Road' and 15 maps of the New Silk Road, the Baltic Sea Region and Central Asia to help in understanding China's vision and strategic moves.

This two volume set presents a wide-ranging selection of important articles, which explore the effects of the globalization of the world economy on developing and newly industrialized countries. It investigates policies of liberalizing trade in developing countries and the effects of the inflow of capital and investment; it explores how the trend towards developing regional trading areas in for example, Europe, the Americas and the Pacific area, affects and is affected by globalization. Further topics include the role of multinational firms, the effects of the economic decisions taken by worldwide organizations or by the institutions of the major economic players, and the impact of global policy issues such as environment and trade on emerging economies.

Focusing on the Global Financial Crisis 2007-2010 and the new emerging Covid-19 crisis in 2020, this book examines the discourse on risk and uncertainty in the markets through the lens of financial crises. Such crises represent a failure of the law to regulate, and constitute the basis through which a new theory of legal constants can be introduced in comparative law. Crisis impose a dramatic reformulation of the law, the Covid-19 confirms this trend, and new out-of-law instances are appearing beyond a paternalistic approach of direct State regulation. Restructuring procedures are playing a vital role in businesses' survival, and new out-of-law mechanisms such as moratorium agreements and private workouts have become essential to preserve businesses. It is clear that the role of the law has completely changed, and this book argues that constants outside of the law are new ways to promote an "uncodified-codification" of the law. The case for uncodified uncertainty in the Covid-19 crisis is a primary example of how no codification process can ignore the importance of out-of-law instances in the act of making law. This book explores how this approach influences the harmonisation process of international economic law between national insolvency regimes and international agreed frameworks, demonstrating the role of comparative law in formulating legal constants using Covid-19 and the complexity of modern financial markets as the criterion to introduce the reader to this new theory, which claims a new role for comparative law in policy making processes within the framework of international economic law.

Examining local content law and policy in the oil and gas industry, this book uses Nigeria as a primary case study, comparing its approach to countries such as Brazil and Norway which have also adopted local content laws in relation to their gas and oil industries. In considering various aspects of local content law and policy as they apply to the oil and gas industry, the book examines the factors behind the formulation of local content policies by petroleum producing states, and the various strategies they have employed to implement them. It analyses arguments against local content requirements from the perspective of international trade and investment law, and from liberal market economic theorists, who argue against its overall usefulness. The book highlights salient aspects of the oil and gas industry such as regulation, national oil companies, treatment of minorities, and policy formulation and implementation.

An authoritative guide to Africa's economic development and prospects. This is volume 2 in a major international research project coordinated by the African Economic Research Consortium and bringing together the top academics in development economics, trade policy and international economics from Africa, Europe and North America. This second volume applies the theoretical framework and issues of economic liberalization and regional integration to detailed country case studies of the Cote d'Ivoire, Ghana, Nigeria, Kenya, Mauritius, Tanzania, Uganda, South Africa, Zambia and Zimbabwe.

Technological change has transformed the ways knowledge is developed and shared internationally. Accordingly, in the quarter-century since the WTO was established, and since its Agreement on Trade-Related Aspects of Intellectual Property Rights came into force, both the knowledge dimension of trade and the functioning of the IP system have been radically transformed. The need to understand and respond to this change has placed knowledge at the centre of policy debates about economic and social development. Recognizing the need for modern analytical tools to support policymakers and analysts, this publication draws together contributions from a diverse range of scholars and analysts. Together, they offer a fresh understanding of what it means to trade in knowledge in today's technological and commercial environment. The publication offers insights into the prospects for knowledge-based development and ideas for updated systems of governance that promote the creation and sharing of the benefits of knowledge.

In a time of persistent uncertainty, fragile eco-structures, the politics of "populism," and limits in institutional leadership, The Caribbean on the Edge acts as an analytical roadmap to a challenging era of globalization for the countries on the edge of history in the Caribbean, those often at a policy standstill pondering which way and how to turn. Winston Dookeran traces ideas that have evolved in development and diplomacy over the last decade to identify the path for new analytical leadership. The Caribbean on the Edge deeply engages the political issues involved in development, governance, and diplomacy. Examining various schools of thought that influence policy choices, The Caribbean on the Edge discusses new approaches and risk factors that are aligned with the current realities in the region. Above all, this book is about the development of a new mindset that will usher in a radical shift in thinking, policy, and practice in order to unlock the paralysis of a Caribbean on the edge.

Originally published in 1981, this book provided an up-to-date and critical review of the recent history and current status of the main economic institutions affecting international trade and relations at the time. The authors emphasise the economic effectiveness or otherwise of such bodies as GATT, IMF, EEC, UNCTAD and the World Bank, but take account of the political factors present in both the initial 'design' and in the way that the institutions have developed. In particular, the book analyses the changed degree of dominance which the USA had been able to exert on the international community.

Exploring the relationship and interaction between economic interests and normative non-trade values, this book argues that the emergence and development of non-trade values is based on a complex dialectic interaction between selfish economic interests and normative values, and examines how their structural interdependence has given rise to a remarkable evolution in international trade. Conceiving this relationship as an intricate dialectic one that is neither purely value-driven, nor purely economic-interest-driven, it addresses the emergence, function, and role of non-trade values in international trade with a synthetizing approach and explores the results of their interaction in international economic intercourse. Approaching the non-trade issues of trade in a holistic manner, the book demonstrates that trade can operate smoothly only if it is framed by an architecture of normative value standards and international trade liberalization has reached the level where further development calls for cooperation also in fields that, at first glance, may appear to be non-trade in nature.

This edited collection brings together a group of leading scholars to examine what North America might look like after NAFTA, the North American Free Trade Agreement. Although the economic numbers for the three nations involved--Canada, Mexico, and the United States--are impressive, they do not tell the whole story. The real underlying question, according to these experts, is where is the North American region going? How strongly do Mexico, Canada, and the U.S. identify with the region? What strategies exist to propel North America into the 21st century? The authors divide their analysis into 2 parts: the first considers the perspective of each of the 3 countries towards the region and towards the problems they face in adapting to structural change; in the second, the analysis moves from present circumstances and expectations to strategy and options for strengthening the regional alliance.