The world trade system is at a fork in history's road; WTO members cannot avoid Making a choice. / Take the politically expedient path by putting Doha talks on hold, or / Take the leadership path of engaging constructively and creatively in breaking the deadlock. Published ahead of the 29 April 2011 meeting of WTO members in Geneva, this book argues that if the current deadlock - mainly between the US and China - cannot be broken in 2011, no resolution is likely before 2020. US Congressional politics will be much rougher in 2013 - scared by divisive debates over spending and taxes - and the new Chinese government can hardly afford to start off with major tariff concessions to the US. Think of 2013 as 2011 with less goodwill Internationally, more poisonous politics inside the US, and a Chinese leadership that must prove its toughness. Breaking the deadlock would require an expanded negotiating agenda, but this would add years to the talks. The false promise that it would be harmless to allow Doha to languish for years is deeply dangerous, at best. The authors in this volume - trade experts from across the world - identify the perils of allowing Doha to flounder, and the hard choices governments must make to break the deadlock.

In late 2008, as the global financial crisis was spreading, so too was protectionism. Despite pledges by G20 and APEC leaders, tariffs were being raised in developing countries and industrialised nations had launched a slew of investigations into "dumped" imports as a means of justifying tariff hikes. The futility of protectionism in a global recession is not a new lesson now and was not a new lesson then - every world leader is and was well aware of the role protectionism played in exacerbating the Great Depression. But even as the global economy is recovering, leaders continue to find themselves torn. Their heart tells them to help industries and workers under stress; their head tells them protectionism will backfire. This book, first published as an eBook in December 2008, collects essays from world-class economists on what global leaders must do to halt the slide towards protectionism. It identifies three areas where world leaders should act: / World leaders must finalise the WTO's Doha negotiations. WTO rules remain the world's best bulwark against 1930s-style trade wars. / All nations should commit to a standstill on raising their applied tariffs and other forms of protection. / Industrialised and developing nations should refrain from initiating new antidumping cases, and postpone imposing antidumping duties wherever possible - economic nationalism should not be allowed to creep in. With protectionism continuing to threaten global prosperity, many of this book's recommendations hold true today.

In late 2008 the world was at a dangerous point. Governments and central banks had just about stopped the bleeding in their financial systems following the fall of Lehman Brothers, but they were unprepared for the recession that was to infect all parts of the global economy and become a truly global crisis. This book, first published as an eBook to coincide with the November 2008 G20 meeting in Washington, provides the views of some of the world's leading economists on what world leaders needed to do - act quickly in: / The financial sector to strengthen and coordinate emergency measures to staunch the bleeding / The real sector using fiscal stimulus to get the patient's heart pumping again / The global arena to empower the IMF and other existing institutions to deal with the crisis in emerging markets. Above all, though, the recommendation was to do no harm. The authors knew that the wrong outcome from this meeting could have damaged the world economy rather than repair it. Fortunately, much of their advice was heeded. And while events have moved on, policymakers and opinion formers today could still do with a refresher. The authors are: Alberto Alesina, Erik Berglof, Willem Buiter, Guillermo Calvo, Stijn Claessens, Paul De Grauwe, Wendy Dobson, Barry Eichengreen, Daniel Gros, Refet Gurkaynak, Takatoshi Ito, Vijay Joshi, Yung Chul Park, Raghuram Rajan, Dani Rodrik, Michael Spence, Guido Tabellini, David Vines, Ernesto Zedillo and Jeromin Zettelmeyer.

In the days following the fall of Lehman Brothers in autumn 2008, confidence in the global economy was in freefall. This book, first published as an eBook only a few weeks after the event, outlines the fears of some of the world's leading economists that the unfolding financial market meltdown had the potential to trigger a massive and prolonged recession that would destroy hundreds of millions of jobs worldwide and wipe out the savings of countless households - with the most vulnerable being hit hardest. They were not wrong. The authors call for policymakers to embark on forceful and coordinated action to avoid the next Great Depression. While their essays differ on many points, a clear consensus emerges on the need to act swiftly and together. The authors are: Alberto Alesina, Michael Burda, Charles Calomiris, Roger Craine, Stijn Claessens, J Bradford DeLong, Douglas Diamond, Barry Eichengreen, Daniel Gros, Luigi Guiso, Anil K Kashyap, Marco Pagano, Avinash Persaud, Richard Portes, Raghuram G Rajan, Guido Tabellini, Angel Ubide, Charles Wyplosz and Klaus Zimmermann.

When the investment bank Lehman Brothers filed for bankruptcy in late 2008, the news sent shockwaves across the global economy. The drop in confidence decimated world trade, leading to what the authors of this book call the Great Trade Collapse. The fall in trade was sudden, severe and synchronised - falling faster than during the Great Depression and by more than at any time since the Second World War; more than during the oil-price hikes of the 1970s, the recession of the early 1980s and the bursting of the dotcom bubble in 2001. It affected all 104 nations on which the WTO reports. This book, first published as an eBook on VoxEU.org to inform world leaders ahead of the WTO's Trade Ministerial conference in Geneva in late 2009, presents the economics profession's received wisdom on the causes, consequence and prospects of the Great Trade Collapse - a wisdom that continues to serve the trade community today. The authors are: Dony Alex, Carlo Altomonte, Sonia Araujo, Richard Baldwin, Rudolfs Bems, Fred Bergsten, Gilberto Biacuna, Ingo Borchert, Peter Draper, Simon Evenett, Michael Ferrantino, Lionel Fontagne, Joseph Francois, Caroline Freund, Jeffry Frieden, Guillaume Gaulier, Leonardo Iacovone, David Jacks, Robert Johnson, Tonia Kandiero, Anne Krueger, Rajiv Kumar, Aimee Larsen, Andrei Levchenko, Logan Lewis, Aaditya Mattoo, Christopher Meissner, Jesse Mora, Leonce Ndikumana, Dennis Novy, Joaquim Oliveira Martins, Kevin O'Rourke, Gianmarco Ottaviano, William Powers, Raymond Robertson, Peter Schott, Daria Taglioni, Kiyoyasu Tanaka, Linda Tesar, Ruyhei Wakasugi, Julia Woerz, Kei-Mu Yi, Veronika Zavacka.

The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.

The Eurozone's life-threatening crisis in May 2010 was halted when Eurozone leaders and the ECB took strong measures in May. But these were palliatives not a cure. The crisis is not over, according to the dozen world-renowned economists whose views are contained in this book. The Eurozone rescue needs to be completed. More needs to be done. The Eurozone "ship" is holed below the waterline. The ECB actions are keeping it afloat for now, but this is accomplished by something akin to bailing the water as fast as it leaks in. European leaders must very soon find a way to fix the hole. This book gathers the thinking of a dozen world-class economists on what they need to do on banking-sector clean up, fiscal discipline, structural policies, and more.

This unique compilation of essays addresses a core political economy question: how do market forces and trade regulation interact? Its fresh Asian perspective offers a much-needed contribution to our understanding of how treaty-based regional and bilateral economic integration is driven by the Factory Asia phenomenon. The authors also compellingly show where the World Trade Organization could fit in. An informative read for scholars and experts alike.' - Manfred Elsig, University of Bern, SwitzerlandThe global financial crisis exposed great shortcomings in the global economic architecture, generating extensive international debate about possible remedies for these deficiencies. The postwar global architecture was guided by major developed economies, centered around the IMF, the GATT, and the World Bank. Today, the balance of economic power is shifting toward emerging economies. Global governance and economic policy must reflect this shift. With contributions from prominent Asian and international trade experts, this book critically examines key changes occurring in the world trading system and explores policy implications for Asia. The world trading system, led by the World Trade Organization (WTO), is under pressure to evolve and address 21st-century trade issues. Meanwhile, economically salient Asia has built deep supply chains over decades, whilst experimenting with mega-regional trade agreements and economic policies to sustain growth amid a fragile economy. The Asian-led Regional Comprehensive Economic Partnership (RCEP) and the United States-led Trans-Pacific Strategic Economic Partnership (TPP) are competing to set standards for Asia's trade and supply chains. Lessons from the Asian experience offer new approaches and economic policies to sustain growth, presenting the WTO as a forum for action to improve global and regional trade governance in the 21st century. Policy makers will benefit from the expert knowledge and policy lessons presented in this book, and development economists and researchers will profit from its critical examination of the world trading system. Undergraduate and postgraduate students interested in development, development economics, international development, and related fields will find this essential supplementary reading. Contributors: R. Baldwin, S.Y. Chia, B. Dhar, S.J. Evenett, S. Inomata, M. Kawai, P. Low, M. Nakatomi, R. Pomfret, V. Pontines, J. Tijaja, S. Urata, R. Wang, G. Wignaraja, Y. Zhang

The seventh edition of The Economics of European Integration provides students with an accessible presentation of the facts, theories and controversies that are driving rapid change at the heart of Europe. This new edition covers crucial updates on the impact of Brexit and Covid-19 and offers an expert analysis of the contemporary status of integration within the European Union. Key Features and Updates *Wide range of learning features including boxed examples and illustrations, end of chapter summaries, self-assessment questions and essay questions. *Fully updated to include new discussions and examples such as the new budget which has significant implications on European bonds, immigration, and climate change. *Two new chapters highlighting the impact of both Brexit and Covid-19 on the EU. *An Online Learning Centre with Lecture Outlines, PowerPoint Presentations, and an Image Library. Richard Baldwin is Professor of International Economics at the Graduate Institute, Geneva, having been a visiting professor at Oxford and MIT. He is Editor-in-Chief and founder of VoxEU.org since 2007 and he advises governments around the world on globalisation and integration issues having served in the Bush (Sr) White House in 1990-91. Charles Wyplosz is Professor Emeritus of International Economics at the Graduate Institute in Geneva where he also served as Director of the International Centre for Money and Banking Studies. He is a Fellow of CEPR and of the European Economic Association, as well as a Founding Managing Editor of the Economic Policy journal.

An Economist Best Book of the Year A Financial Times Best Economics Book of the Year A Fast Company "7 Books Microsoft CEO Satya Nadella Says You Need to Lead Smarter" Between 1820 and 1990, the share of world income going to today's wealthy nations soared from twenty percent to almost seventy. Since then, that share has plummeted to where it was in 1900. As the renowned economist Richard Baldwin reveals, this reversal of fortune reflects a new age of globalization that is drastically different from the old. The nature of globalization has changed, but our thinking about it has not. Baldwin argues that the New Globalization is driven by knowledge crossing borders, not just goods. That is why its impact is more sudden, more individual, more unpredictable, and more uncontrollable than before-which presents developed nations with unprecedented challenges as they struggle to maintain reliable growth and social cohesion. It is the driving force behind what Baldwin calls "The Great Convergence," as Asian economies catch up with the West. "In this brilliant book, Baldwin has succeeded in saying something both new and true about globalization." -Martin Wolf, Financial Times "A very powerful description of the newest phase of globalization." -Larry Summers, former U.S. Secretary of the Treasury "An essential book for understanding how modern trade works via global supply chains. An antidote to the protectionist nonsense being peddled by some politicians today." -The Economist "[An] indispensable guide to understanding how globalization has got us here and where it is likely to take us next." -Alan Beattie, Financial Times

This volume, from the Centre for Economic Policy Research, examines the discussion surrounding both actual and possible future expansion of the European Union (EU). The contributors address the key issues in the debate, including the implications of expansion for the global trading system, enlargement-related pressures to reform EU decision making, and the economic consequences of membership for new entrants. Using the latest theoretical techniques to report new results and insights, this book not only sheds light on the consequences of Austria, Finland and Sweden joining the EU, but also discusses and evaluates the possible membership of Central European ex-socialist countries. This should be a useful book for students and scholars interested in regional integration, and also for policy-makers in the new EU member countries and in applicant countries. Many of the issues addressed in this volume will be relevant for the EUs inter-governmental conference in 1996."

Regional trade agreements (RTAs) have proliferated around the world in the past two decades, and now nearly all members of the WTO are party to at least one. Besides tariffs and rules of origin regulating trade in goods, many RTAs now include provisions on services, investments, technical barriers to trade and competition rules, as well as a host of issues not directly related to trade. The geographic reach of RTAs is expanding, with transcontinental agreements spreading forcefully alongside intra-regional agreements. 'Multilateralizing Regionalism' was the title of a major conference held from 10-12 September 2007 at the WTO in Geneva. Brought together in this publication, the conference papers achieve two things. First, they marshall detailed, new empirical work on the nature of the 'Spaghetti Bowl' and the problems it poses for the multilateral trade system. Second, they contribute fresh and creative thinking on how to 'tame the tangle' of regional trade agreements.

This compelling volume, from the Centre for Economic Policy Research, examines the discussion surrounding expansion of the European Union (EU). The contributors address the key issues in the debate, including the implications of expansion for the global trading system, enlargement-related pressures to reform EU decision-making, and the economic consequences of membership for entrants. Using theoretical techniques to report results and insights, this book not only sheds light on the consequences of Austria, Finland and Sweden joining the EU, but also discusses and evaluates the possible membership of Central European ex-socialist countries. This is an important book for students and scholars interested in regional integration, and also for policy-makers in the new EU member countries and in applicant countries.

At first sight, a free trade agreement (FTA)between Switzerland and the United States seems implausible, but this important new study concludes that a FTA between the two countries would be highly worthwhile to both countries. As leading advocates of market capitalism, Switzerland and the United States are well situated to conclude an FTA that breaks new ground in dismantling barriers. The study finds that the annual GDP gains to each partner from expanded trade could be on the order of $1.1 billion.

Research on the spatial aspects of economic activity has flourished over the past decade due to the emergence of new theory, new data, and an intense interest on the part of policymakers, especially in Europe but increasingly in North America and elsewhere as well. However, these efforts--collectively known as the "new economic geography"--have devoted little attention to the policy implications of the new theory.

"Economic Geography and Public Policy" fills the gap by illustrating many new policy insights economic geography models can offer to the realm of theoretical policy analysis. Focusing primarily on trade policy, tax policy, and regional policy, Richard Baldwin and coauthors show how these models can be used to make sense of real-world situations. The book not only provides much fresh analysis but also synthesizes insights from the existing literature.

The authors begin by presenting and analyzing the widest range of new economic geography models to date. From there they proceed to examine previously unaddressed welfare and policy issues including, in separate sections, trade policy (unilateral, reciprocal, and preferential), tax policy (agglomeration with taxes and public goods, tax competition and agglomeration), and regional policy (infrastructure policies and the political economy of regional subsidies). A well-organized, engaging narrative that progresses smoothly from fundamentals to more complex material, "Economic Geography and Public Policy" is essential reading for graduate students, researchers, and policymakers seeking new approaches to spatial policy issues.

Regional trade agreements (RTAs) have proliferated around the world in the past two decades, and now nearly all members of the WTO are party to at least one. Besides tariffs and rules of origin regulating trade in goods, many RTAs now include provisions on services, investments, technical barriers to trade and competition rules, as well as a host of issues not directly related to trade. The geographic reach of RTAs is expanding, with transcontinental agreements spreading forcefully alongside intra-regional agreements. 'Multilateralizing Regionalism' was the title of a major conference held from 10-12 September 2007 at the WTO in Geneva. Brought together in this publication, the conference papers achieve two things. First, they marshall detailed, new empirical work on the nature of the 'Spaghetti Bowl' and the problems it poses for the multilateral trade system. Second, they contribute fresh and creative thinking on how to 'tame the tangle' of regional trade agreements.

A study of the nature and the policy implication of changes in the global economy in relationship to the process of regional integration, conducted using the newest techniques of economic analysis. The principal message drawn from these analytical and policy insights is that in a world characterised by trade distortions and nonlinearities, regional integration may or may not foster global integration, and may or may not advance regional or global convergence. The key is good economic policy based on sound economic analysis. Part one of the volume covers three international trade policy issues: regionalism and multilateralism; the political economy of trade policy; and trade income inequality. Part two (chapters 7-11) focuses on three 'domestic' problems faced by regional groups: labour migration; exchange rate arrangements; and real convergence.

New and collected poems by Curran, twice the western Massachusetts Poet's Seat laureate, are complimented by a painting by Richard Baldwin of Wendell, Massachusetts.

The 18th century was a wealth of knowledge, exploration and rapidly growing technology and expanding record-keeping made possible by advances in the printing press. In its determination to preserve the century of revolution, Gale initiated a revolution of its own: digitization of epic proportions to preserve these invaluable works in the largest archive of its kind. Now for the first time these high-quality digital copies of original 18th century manuscripts are available in print, making them highly accessible to libraries, undergraduate students, and independent scholars.Delve into what it was like to live during the eighteenth century by reading the first-hand accounts of everyday people, including city dwellers and farmers, businessmen and bankers, artisans and merchants, artists and their patrons, politicians and their constituents. Original texts make the American, French, and Industrial revolutions vividly contemporary.++++The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to insure edition identification: ++++British LibraryT021337Previously published as: A complete guide to all persons .. Subsequently as: The new complete guide .. London]: Printed for Richard Baldwin, John Rivington, Robert Horsfield, H. Woodfall, J. Hinton, L. Hawes & Co., and T. Longman,, 1768. 2],266, 24]p.; 12

The 18th century was a wealth of knowledge, exploration and rapidly growing technology and expanding record-keeping made possible by advances in the printing press. In its determination to preserve the century of revolution, Gale initiated a revolution of its own: digitization of epic proportions to preserve these invaluable works in the largest archive of its kind. Now for the first time these high-quality digital copies of original 18th century manuscripts are available in print, making them highly accessible to libraries, undergraduate students, and independent scholars.Delve into what it was like to live during the eighteenth century by reading the first-hand accounts of everyday people, including city dwellers and farmers, businessmen and bankers, artisans and merchants, artists and their patrons, politicians and their constituents. Original texts make the American, French, and Industrial revolutions vividly contemporary.++++The below data was compiled from various identification fields in the bibliographic record of this title. This data is provided as an additional tool in helping to insure edition identification: ++++British LibraryT021338 London]: Printed for Richard Baldwin; John Rivington; Robert Horsfield; and H. Woodfall, J. Hinton, L. Hawes, & Co, and T. Longman, 1770. 2],273, 1]p.; 12

The writer has been deprived of his license to practice law in three states. The basis for these court orders was a confidential complaint made by the writer about the misconduct of a United States District Judge. The complaints included evidence, which pointed to the judge's financial ties to litigators with matters in his court. Nevertheless, the judge's misconduct was overlooked by supervising judges. The writer reviews the court order which drove him from the practice of law. "The point of all this," he concludes, "was to banish me from the legal profession, not to find the truth since bringing truth into the light of day would have been uncomfortable for" the judge. From the book: "Any professional regulatory authority empowered to deprive its members of their reputation and their ability to earn an income should be subject to the highest standards of objectivity and fairness. In the legal community, the opposite is the norm. The rules which govern the behavior of lawyers are explicitly intended to overlook complaints about the venal and self-interested behavior of the most powerful members of the profession. The judges make the rules and see to their own insulation from criticism, oversight and transparency in their dealings with persons interested in judicial outcomes. The judges take pains to block any examination of their off-the-books income streams. Those who are so incautious as to rely on the prescribed complaint rules and who come forward, confidentially, to object to obvious instances of be-robed venality are themselves subjected to the severest sanction." Consideration of salary increases for the judges should be put on hold, the writer asserts. Why? Better rules than the "bogus revised" ones are needed immediately. "In writing their own ethics rules, the judges have given themselves impunity to accept bribes." The writer offers prescriptive comments, including the text of a "Best Practices Declaration," which should be binding upon any who seek a position on the bench, local state or federal.