Green Trade Agreements reviews and analyses the environmental provisions that have become an important characteristic of the growing number of bilateral and regional free trade agreements. This book examines the range of approaches to these environmental provisions, evaluates their effectiveness and suggests potential improvements to the process.

The newest volume in Kluwer's series of comparative analyses of Member State law and the Principles of European Contract Law (PECL), this book not only provides an introduction to German law for lawyers familiar with the PECL but also serves as a model for "reconnecting" the contract law of the European Union with that of the Member States. Although the Principles were by design distilled from the laws of the Member States, one of the arguments most frequently advanced for opposing the introduction of a EU contract law is that it would not be in line with national principles of contract law. The in-depth comparison presented here may help to refute or confirm such doubts and serve as a yardstick to measure how far EU law really has disconnected from the traditions of the Member States. Using a straightforward comparative method, the analysis not only reveals a significant area of convergence between the PECL and German contract law, but also highlights the main differences between the two bodies of rules. The reasons for these differences, both legal and non-legal (historical, social, economic), are clearly set forth. Aspects of the relevant laws covered include the following: scope of application, general duties, terminology; offer and acceptance, liability for negotiations; effects of assignment; remedies for non-performance (right to performance, withholding performance, termination of the contract, price reduction, damages and interest); representation by agents; plurality of debtors and/or creditors; order of priority among assignee and competing claimants; transfer of contract or contractual position; and periods of prescription.

This book investigates the politics of transatlantic trade, specifically the Transatlantic Trade and Investment Partnership negotiations. Using a novel approach, the authors analyze the rhetorical choices made by opponents and supporters of an agreement, and the logical behind their arguments. Opponents used emotive frames and strategically chosen issues to increase public opposition to the negotiations; supporters countered, but also accommodated, parts of opponents' rhetoric in hopes of quelling discontent. The study also highlights the resulting changes to EU trade policy, thus contributing to the literatures on trade policy, politicization, and rhetorical analysis.

The world's governing structures are higgledy-piggledy: disorderly, heads and tails in any or every direction. Such disorder fosters deficient governance. Decisions by noncooperating nations can generate damaging crossborder outcomes. Muddles destabilize mutual well-being.Public debate is often mired in superficial arguments about "globalization." This insightful book by economist Ralph C. Bryant instead emphasizes that the world's nations need to craft better middle-ground compromises to improve governance and manage increasing integration. Individual nations, Bryant argues, should fashion a balance between local autonomy and external openness, avoiding the extremes of rigid localism and unfettered openness. And nations need to act together collectively. Cooperative governance can encourage orderliness that mitigates disarray undermining mutual goals. The global challenge of the coronavirus pandemic is a vivid reminderthat international cooperation is becoming progressively more essential. Do nations and their leaders have sufficient foresight to use borders not as barriers but as catalysts for international cooperation? Could national migration policies find sustainable middle ground between the unrealistic extreme of unfettered freedom for people to cross borders and the inhumane exclusion of foreign refugees? Could augmented cross-border cooperation mitigate dangers from recurring financial instability? Could the world community foster collective actions to reduce the severe risks of global climate change? The answer to such questions can and should be yes. Wiser cross-border collective action nurtures a mutually supportive order offsetting the threats of disorder that may otherwise prevail. A healthy evolution of our planet requires requires! more orderly national governance and more ambitious cross-border cooperation.

The trading relationship between the United States and China, though now robust, was a recent and hardly inevitable development. Political animosity stemming from the Korean War and America's subsequent strategic embargo of China broke off economic and cultural ties. Following two decades of China's international isolation, as the United States sought to realign the geopolitical order in the 1970s, Washington began to engineer a restoration of its relationship with China. Diplomatic historians have carefully documented the formal and governmental intrigues of Nixon, Kissinger, Mao, and Zhou Enlai. As this book shows, a vigorous reconstruction of bilateral ties was unfolding simultaneously at the level of informal diplomacy, especially in the realm of US-China trade. Central to understanding the renewal of bilateral commerce is the National Council for United States-China Trade, an organization that, although nongovernmental, was established in 1973 with Washington's encouragement and oversight. The Council organized major American corporations not only to engage in commercial exchanges with China, but also to function as a diplomatic backchannel between Washington and Beijing before the two nations restored formal relations in 1979. Using the Council to historicize the entangling of the American and Chinese economies, Forgotten Vanguard not only reveals globalization's contingent path but also exposes the hidden importance of informal trade diplomacy in building the modern US-China relationship. This book will appeal to those with an interest in Cold War history, international relations, and the history of American diplomacy, with particular emphases on informal diplomacy and the modern history of the US-China economic relationship.

This book presents an authoritative collection of the most important papers previously published by leading scholars in the field of trade policy and its reform.Included are sections on early contributions to the theory of reform, world welfare and trade reform, and reform with quotas and tariffs.

The American Century began in 1941 and ended on January 20, 2017. While the United States remains a military giant and is still an economic powerhouse, it no longer dominates the world economy or geopolitics as it once did. The current turn toward nationalism and "America first" unilateralism in foreign policy will not make America great. Instead, it represents the abdication of our responsibilities in the face of severe environmental threats, political upheaval, mass migration, and other global challenges. In this incisive and forceful book, Jeffrey D. Sachs provides the blueprint for a new foreign policy that embraces global cooperation, international law, and aspirations for worldwide prosperity-not nationalism and gauzy dreams of past glory. He argues that America's approach to the world must shift from military might and wars of choice to a commitment to shared objectives of sustainable development. Our pursuit of primacy has embroiled us in unwise and unwinnable wars, and it is time to shift from making war to making peace and time to embrace the opportunities that international cooperation offers. A New Foreign Policy explores both the danger of the "America first" mindset and the possibilities for a new way forward, proposing timely and achievable plans to foster global economic growth, reconfigure the United Nations for the twenty-first century, and build a multipolar world that is prosperous, peaceful, fair, and resilient.

This book examines the causes and consequences of social standards in US and EU preferential trade agreements (PTAs). PTAs are the new reality of the global trading system. Pursued by both developed and developing countries, they increasingly incorporate labor and environmental issues to prevent a race to the bottom in social regulation and counter-protectionism. Using principal-agent theory to explore why US PTAs have stricter social standards than those signed by the EU, Postnikov argues that the level of institutional insulation of trade policy executives from interest groups and legislators determines the design of social standards. In the EU, where institutional insulation is high, social standards mirror the normative preferences of the European Commission leading to a softer approach. In the US, where such insulation is low, social standards are driven by interest groups and legislators they control, resulting in a stricter approach. This book shows that both approaches can be effective but work through different causal mechanisms. To test his argument, Postnikov draws on original data collected in Brussels, Washington, Santiago, Bogota, and Seoul. This book will be of interest to all scholars and students working in the fields of international political economy and EU and US trade policy.

This book provides a solid overview of trade and business opportunities in the Pacific Alliance, focusing on the key drivers of economic growth and development in Chile, Peru, Colombia, and Mexico. It addresses the political, economic, and social benefits that accrue when commerce and markets are made freer, and implications this poses for American businesses. Further, it surveys how key economies of Latin America have learned from past failures and are poised to capitalize on them in the future. It will offer a detailed understanding for business scholars, practitioners, and entrepreneurs looking to explore new business ventures in dynamic trade union.

Winner of the 2021 Lionel Gelber Prize: A provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers "The authors weave a complex tapestry of monetary, fiscal and social policies through history and offer opinions about what went right and what went wrong . . . Worth reading for their insights into the history of trade and finance."-George Melloan, Wall Street Journal "This is a very important book."-Martin Wolf, Financial Times Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace-and what we can do about it. Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award and named a Best Business Book of 2020 by Strategy + Business

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.

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 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 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.

Transnational corporations have used their market and political power in the U.S., the European Union and Japan to expand global production on terms that are highly favorable to corporate interests. Through a detailed history of the establishment of global value chains, Ronald W. Cox examines how corporations have internationalized production by working directly with political elites to establish terms of investment and trade that facilitate working class exploitation. He also examines the political implications of the growing gap between the global rich and the working class, including the increasing illegitimacy of corporate-backed governments in the United States and the European Union. The author concludes the book with suggestions for how the global working class can fight for their own interests in the context of the rising threats of far-right extremism and neo-fascist political movements.

This book provides a detailed study of practices of China (Shanghai) Pilot Free Trade Zone (Shanghai FTZ henceforth). It aims to answer questions related to establishing the Shanghai FTZ and improving its practices, such as the future of world's macro-economy, the Shanghai FTZ's position in Chinese and world economy, government transition and international trade upgrading, as well as financial sector opening up strategies and innovations. By answering these questions, implications for possible future policy developments are provided. Though the operation of Shanghai FTZ is the main focus, this book delves deeper into the question of how China will further reform its financial system in the future. Similar to the Shenzhen Special Economic Zone, which heralded China's economic transformation in the 1980s and 1990s, the Shanghai FTZ may well be such a pioneer project, pointing to the future economic path that China might tread. Written by the foremost Chinese economists - with some involved in the setup process of the Shanghai FTZ, this book is a must read for anyone who is interested in the prospects of the Shanghai FTZ and the future direction of the Chinese economic development.

Over the last few decades there has been growing recognition of the importance of a peaceful and stable South China Sea for Indo-Pacific security and development, a recognition that has been underlain, paradoxically, by the increasingly precarious situation in this body of water that straddles critical shipping lanes from the Indian to the Pacific Ocean. This book informs its readership of the most recent developments in the South China Sea with insightful and prescient analyses from both legal and international relations perspectives. It delves into the policy perspectives and deliberations of the various relevant regional and extra-regional actors in the South China Sea dispute, the exercise of international law in the context of the changing regional political landscape, and the promise and pitfalls of past, current, and potential initiatives to manage and settle the dispute. Written by some of the most well-known scholars and knowledgeable insiders in the fields South China Sea studies, the collection offers a wide array of diverse views that should help enrich the ongoing global discussion on conflict management and resolution in the South China Sea.

This book examines Sino-Middle Eastern relations on a bilateral level since World War II. It highlights the depth of China's involvement in the region with each country on a five dimensional approach: energy security, trade relations, political relations, arms sales/security cooperation, and cultural relations. Regarding each of these criteria, the Middle East holds a strategic significance to China's national security, vital interests, territorial integrity, sovereignty, regime survival, and economic prosperity. China has been an integral part of the political developments on the Middle Eastern political scene. It has supported the region's quest for independence and national liberation, exchanged diplomatic recognition with the region and established political partnerships with the Middle East. Trade relations are an essential element of China's involvement in the Middle East. Their bilateral trade volume exceeds $220 billion annually, and is steadily heading toward $500 billion by the end of 2015. The Middle East supplies fifty-four percent of China's energy needs, and is expected to provide seventy percent of China's imports by 2020. Energy security has become the core of Sino-Middle Eastern relations and the main goal of its increasing involvement in the region. China has also become a main source of arms sales to the region. The Middle East influenced Chinese culture and language immensely, simultaneously, influenced by Chinese culture, traditions and customs. Apparently, the peoples of the Middle East are enthusiastic about China's role in the region. However, the American so called "pivoting out" and China's imminent "pivoting in" brings tremendous levels of anxiety in the region. A similar situation occurred a century ago, when the people of the region, the social and political movements in the Middle East, and the governments of the region, solicited and welcomed the American involvement in the region, something they deeply resent and regret. China seems to be going through the same path, and the people of the region have begun to scrutinize its presence. If Beijing continues its inconsistent policy in the region, its injudicious support to autocracies, it will defiantly mobilize popular resentment against its involvement in the Middle East. Therefore, its presence might not endure in comparison to the American, British, or French presence in the Middle East.

Hardbound. After years of debate and a turbulent passage through Congress, The North American Free Trade Agreement came into effect on 1st January 1994. The agreement heralds a new era in North America's economic and political behavior and will dominate the international economic arena of the western hemisphere in the coming decades.In order to understand the implications and challenges of NAFTA on both a domestic and international level, this book examines the corporate, managerial and financial consequences for the participating countries (United States, Canada and Mexico), as well as the wider impact of economic regionalism in the new world order, especially in relation to the European Union.An overview of the agreement itself is followed by analysis from an external perspective and an examination of intra-regional issues.

Exploring the contentious relationship between trade and labour, this book looks at the impact of the EU's 'new generation' free trade agreements on workers. Drawing upon extensive original research, including over 200 interviews with key actors across the EU and its trading partners, it considers the effectiveness of the trade-labour linkage in an era of global value chains. The EU believes trade can work for all, claiming that labour provisions in its free trade agreements ensure that economic growth and high labour standards go hand-in-hand. Yet whether these actually make a difference to workers is strongly contested. This book explains why labour provisions have been profoundly limited in the EU's agreements with the CARIFORUM group, South Korea and Moldova. It also shows how the provisions were mismatched with the most pressing workplace concerns in the key export industries of sugar, automobiles and clothing, and how these concerns were exacerbated by the agreements' commercial provisions. This pioneering approach to studying the trade-labour linkage provides insights into key debates on the role of civil society in trade governance, the relationship between public and private labour regulation, and the progressive possibilities for trade policy in the twenty-first century. This book will appeal to research scholars, post-graduate students, trade policy practitioners, policy researchers allied to labour movements, and informed activists.

This volume contains a collection of studies examining trade-related issues negotiated in regional trade agreements (RTAs) and how RTAs are related to the WTO's rules. While previous work has focused on subsets of RTAs, these studies are based on what is probably the largest dataset used to date, and highlight key issues that have been negotiated in all RTAs notified to the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO). New rules within RTAs are compared to rules agreed upon by WTO members. The extent of their divergences and the potential implications for parties to RTAs, as well as for WTO members that are not parties to RTAs, are examined. This volume makes an important contribution to the current debate on the role of the WTO in regulating international trade and how WTO rules relate to new rules being developed by RTAs.

With the Doha Round of multilateral trade negotiations moribund, it is time to reconsider the future of trade negotiations as an impetus for reform. Services trade is a leading-edge behind-the-border issue, so a services perspective offers critical insights into the future of trade negotiations more generally. This book traces the author's thinking on how to make sense of services trade reform, drawing on her analytical, empirical and policy-related work on services issues from both academic and government perspectives. It covers policy reform, policy forums, and what it takes politically to achieve reform, and offers critical new insights into the future of trade negotiations.The book shows policy makers how to approach the economics and politics of services trade reform domestically, consistent with relevant special features of services trade. It shows analysts the full policy implications of those special features, including what they mean and how services reform should be treated in the future in national and international forums. In covering such broad territory, the book draws together published material that previously has been scattered across place and time, including modelling that establishes empirically the special features of services that are relevant.

This is a story about governance in Mexico after the labor and environmental accordsOCocalled side agreementsOCothat accompanied the NAFTA treaty went into effect. These side agreements required member states to uphold and enforce their labor and environmental laws; though never codified, it was widely accepted that Mexico, in particular, had a problem with law enforcement.
"Side Effects" explores how differences in institutional design (of the side agreements) and domestic capacity (between the labor and environment sectors) influenced norm socialization in Mexico. It argues that the acceptance of rule-of-law norms in environmental governance can be attributed to participating institutions' independence from national control, their willingness to give citizens access, and the professionalization and technical capacity of domestic bureaucrats and civil society actors. Changes in labor governance have been hampered by union confederations, longstanding corruption, and a closed opportunity structure. Going beyond a simple accounting exercise of resources devoted to enforcing the law, this book comes to grips with how best to strengthen local capacity and promote pro-norm behaviorOCoadvances essential to the task of development and democratization.

This book examines Sino-Middle Eastern relations on a bilateral level since World War II. It highlights the depth of China's involvement in the region with each country on a five dimensional approach: energy security, trade relations, political relations, arms sales/security cooperation, and cultural relations. Regarding each of these criteria, the Middle East holds a strategic significance to China's national security, vital interests, territorial integrity, sovereignty, regime survival, and economic prosperity. China has been an integral part of the political developments on the Middle Eastern political scene. It has supported the region's quest for independence and national liberation, exchanged diplomatic recognition with the region and established political partnerships with the Middle East. Trade relations are an essential element of China's involvement in the Middle East. Their bilateral trade volume exceeds $220 billion annually, and is steadily heading toward $500 billion by the end of 2015. The Middle East supplies fifty-four percent of China's energy needs, and is expected to provide seventy percent of China's imports by 2020. Energy security has become the core of Sino-Middle Eastern relations and the main goal of its increasing involvement in the region. China has also become a main source of arms sales to the region. The Middle East influenced Chinese culture and language immensely, simultaneously, influenced by Chinese culture, traditions and customs. Apparently, the peoples of the Middle East are enthusiastic about China's role in the region. However, the American so called "pivoting out" and China's imminent "pivoting in" brings tremendous levels of anxiety in the region. A similar situation occurred a century ago, when the people of the region, the social and political movements in the Middle East, and the governments of the region, solicited and welcomed the American involvement in the region, something they deeply resent and regret. China seems to be going through the same path, and the people of the region have begun to scrutinize its presence. If Beijing continues its inconsistent policy in the region, its injudicious support to autocracies, it will defiantly mobilize popular resentment against its involvement in the Middle East. Therefore, its presence might not endure in comparison to the American, British, or French presence in the Middle East.

This is a story about governance in Mexico after the labor and environmental accords--called "side agreements"--that accompanied the NAFTA treaty went into effect. These side agreements required member states to uphold and enforce their labor and environmental laws; though never codified, it was widely accepted that Mexico, in particular, had a problem with law enforcement.
"Side Effects" explores how differences in institutional design (of the side agreements) and domestic capacity (between the labor and environment sectors) influenced norm socialization in Mexico. It argues that the acceptance of rule-of-law norms in environmental governance can be attributed to participating institutions' independence from national control, their willingness to give citizens access, and the professionalization and technical capacity of domestic bureaucrats and civil society actors. Changes in labor governance have been hampered by union confederations, longstanding corruption, and a closed opportunity structure. Going beyond a simple accounting exercise of resources devoted to enforcing the law, this book comes to grips with how best to strengthen local capacity and promote pro-norm behavior--advances essential to the task of development and democratization.