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Author: Jagdish Bhagwati
Publisher: Oxford University Press
ISBN: 0199715904
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of the day, shines here a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTAs endangers the world trading system. Numbering by now well over 300, and rapidly increasing, these preferential trade agreements, many taking the form of Free Trade Agreements, have re-created the unhappy situation of the 1930s, when world trade was undermined by discriminatory practices. Whereas this was the result of protectionism in those days, ironically it is a result of misdirected pursuit of free trade via PTAs today. The world trading system is at risk again, the author argues, and the danger is palpable. Writing with his customary wit, panache and elegance, Bhagwati documents the growth of these PTAs, the reasons for their proliferation, and their deplorable consequences which include the near-destruction of the non-discrimination which was at the heart of the postwar trade architecture and its replacement by what he has called the spaghetti bowl of a maze of preferences. Bhagwati also documents how PTAs have undermined the prospects for multilateral freeing of trade, serving as stumbling blocks, instead of building blocks, for the objective of reaching multilateral free trade. In short, Bhagwati cogently demonstrates why PTAs are Termites in the Trading System.
Author: Jagdish Bhagwati
Publisher: Oxford University Press
ISBN: 0199715904
Category : Business & Economics
Languages : en
Pages : 160
Get Book Here
Book Description
Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of the day, shines here a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTAs endangers the world trading system. Numbering by now well over 300, and rapidly increasing, these preferential trade agreements, many taking the form of Free Trade Agreements, have re-created the unhappy situation of the 1930s, when world trade was undermined by discriminatory practices. Whereas this was the result of protectionism in those days, ironically it is a result of misdirected pursuit of free trade via PTAs today. The world trading system is at risk again, the author argues, and the danger is palpable. Writing with his customary wit, panache and elegance, Bhagwati documents the growth of these PTAs, the reasons for their proliferation, and their deplorable consequences which include the near-destruction of the non-discrimination which was at the heart of the postwar trade architecture and its replacement by what he has called the spaghetti bowl of a maze of preferences. Bhagwati also documents how PTAs have undermined the prospects for multilateral freeing of trade, serving as stumbling blocks, instead of building blocks, for the objective of reaching multilateral free trade. In short, Bhagwati cogently demonstrates why PTAs are Termites in the Trading System.
Author: Jagdish N. Bhagwati
Publisher: Princeton University Press
ISBN: 1400861594
Category : Business & Economics
Languages : en
Pages : 165
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Book Description
Jagdish Bhagwati, one of the world's leading economists, offers a fascinating overview of the perils and promise facing the world trading system. That system is now being subjected to powerful centrifugal forces. Concerns with unfair trade are rampant, managed trade is increasingly popular, and regionalism is spreading. The United States, the traditional bulwark of multilateralism, has recently resorted to aggressive, unilateral tactics in trade policy. To a consideration of these developments, Bhagwati brings a unique blend of economic theory, historical scholarship, and familiarity with the institutions of world trade. Bhagwati refutes facile but fashionable criticisms of the General Agreement on Tariffs and Trade (GATT). Warning of the dangers of flouting the GATT's provisions, he shows that its underlying conception of trading by rules will be undermined if we extend accusations of "unfair trade" practices to areas as diverse as retail distribution systems, infrastructure spending, saving rates, and workers' rights. He challenges the economic and cultural stereotypes of Japan that fuel the sentiments supporting managed trade and aggressive unilateralism. In addition, he provides novel suggestions for rebuilding the GATT and with it the world trading system itself--suggestions that should prove useful at the Uruguay Round and beyond. Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: John Howard Jackson
Publisher: MIT Press
ISBN: 9780262600279
Category : Business & Economics
Languages : en
Pages : 464
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Book Description
Since the first edition of The World Trading System was published in 1989, the Uruguay Round of trade negotiations has been completed, and most governments have ratified and are in the process of implementing the General Agreement on Tariffs and Trade (GATT). In the Uruguay Round, more than 120 nations negotiated for over eight years, to produce a document of some 26,000 pages. This new edition of The World Trading System takes account of these and other developments. Like the first edition, however, its treatment of topical issues is grounded in the fundamental legal, constitutional, institutional, and political realities that mold trade policy. Thus the book continues to serve as an introduction to the study of trade law and policy. Two basic premises of The World Trading System are that economic concerns are central to foreign affairs, and that national economies are growing more interdependent. The author presents the economic principles of international trade policy and then examines how they operate under real- world constraints. In particular, he examines the extremely elaborate system of rules that governs international economic relations. Until now, the bulk of international trade policy has addressed trade in goods; issues inadequately addressed by policy include trade in services, intellectual property rights, certain investment measures, and agriculture. The author highlights the tension between legal rules, designed to create predictability and stability, and the governments need to make exceptions to solve short-term problems. He also looks at weaknesses of international trade policy, especially as it applies to developing countries and economies in transition. He concludes with a look at issues that will shape international trade policy well into the twenty-first century.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309070902
Category : Medical
Languages : en
Pages : 289
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Book Description
The rapid expansion of international trade has brought to the fore issues of conflicting national regulations in the area of plant, animal, and human health. These problems include the concern that regulations designed to protect health can also be used for protection of domestic producers against international competition. At a time when progressive tariff reform has opened up markets and facilitated trade, in part responding to consumer demands for access to a wide choice of products and services at reasonable prices, closer scrutiny of regulatory measures has become increasingly important. At the same time, there are clear differences among countries and cultures as to the types of risk citizens are willing to accept. The activities of this conference were based on the premise that risk analyses (i.e., risk assessment, management, and communication) are not exclusively the domain of the biological and natural sciences; the social sciences play a prominent role in describing how people in different contexts perceive and respond to risks. Any effort to manage sanitary and phytosanitary (SPS) issues in international trade must integrate all the sciences to develop practices for risk assessment, management, and communication that recognize international diversity in culture, experience, and institutions. Uniform international standards can help, but no such norms are likely to be acceptable to all countries. Political and administrative structures also differ, causing differences in approaches and outcomes even when basic aims are compatible. Clearly there is considerable room for confusion and mistrust. The issue is how to balance the individual regulatory needs and approaches of countries with the goal of promoting freer trade. This issue arises not only for SPS standards but also in regard to regulations that affect other areas such as environmental quality, working conditions, and the exercise of intellectual property rights. This conference focused on these issues in the specific area of SPS measures. This area includes provisions to protect plant and animal health and life and, more generally, the environment, and regulations that protect humans from foodborne risks. The Society for Risk Analysis defines a risk as the potential for realization of unwanted, adverse consequences to human life, health, property, or the environment; estimation of risk is usually based on the expected value of the conditional probability of the event occurring times the consequence of the event given that it has occurred. The task of this conference and of this report was to elucidate the place of science, culture, politics, and economics in the design and implementation of SPS measures and in their international management. The goal was to explore the critical roles and the limitations of the biological and natural sciences and the social sciences, such as economics, sociology, anthropology, philosophy, and political science in the management of SPS issues and in judging whether particular SPS measures create unacceptable barriers to international trade. The conference's objective also was to consider the elements that would compose a multidisciplinary analytical framework for SPS decision making and needs for future research.
Author: Rohini Acharya
Publisher: Cambridge University Press
ISBN: 1107161649
Category : Business & Economics
Languages : en
Pages : 753
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Book Description
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.
Author: Kyle Bagwell
Publisher: MIT Press
ISBN: 9780262524346
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
World trade is governed by the rules of the World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT). The WTO sets rules of conduct for the international trade of goods and services and for intellectual property rights, provides a forum for multinational negotiations to resolve trade problems, and has a formal mechanism for dispute settlement. It is the primary institution working, through rule-based bargaining, at freeing trade. In this book, Kyle Bagwell and Robert Staiger provide an economic analysis and justification for the purpose and design of the GATT/WTO. They summarize their own research, discuss the major features of the GATT agreement, and survey the literature on trade agreements. Their focus on the terms-of-trade externality is particularly original and ties the book together. Topics include the theory of trade agreements, the origin and design of the GATT and the WTO, the principles of reciprocity, the most favored nation principle, terms-of-trade theory, enforcement, preferential trade agreements, labor and environmental standards, competition policy, and agricultural export subsidies.
Author: Yong-Shik Lee
Publisher: Cambridge University Press
ISBN: 1107098939
Category : Business & Economics
Languages : en
Pages : 519
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Book Description
In this second edition, Lee provides extensive coverage of international trade law from an economic development perspective.
Author: John Croome
Publisher: DIANE Publishing
ISBN: 0788130463
Category : Foreign trade regulation
Languages : en
Pages : 411
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Book Description
Tracing the history and evolution of the Uruguay Round, this book seeks to explain how it came about, why it covered the subjects it did, what the participants sought, & the twists, turns, setbacks & successes in each sector of the negotiations.
Author: Kenneth L. Grant
Publisher: John Wiley & Sons
ISBN: 1118045823
Category : Business & Economics
Languages : en
Pages : 277
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Book Description
Revolutionary techniques that traders can implement to improve profits and avoid losses No trader, professional or individual, can afford not to have a solid risk management program integrated into his or her trading system. But finding a precise mathematical model to replace subjective decision-making processes is a challenge. Traditionally, risk management has focused solely on loss avoidance, but in Trading Risk, hedge fund risk manager Kenneth Grant presents some-thing completely new—how to manage a portfolio to minimize risk and increase profits by putting more capital at risk. Trading Risk details a risk management program that can help both money managers and individual traders evaluate which elements in a portfolio are working efficiently and which aren’t. By illustrating an extremely simple set of statistical and arithmetic tools this book can help readers enhance their performance in many financial markets. Kenneth L.Grant is Cheyne’s Global Risk Manager, and is the Managing Member for Cheyne Capital, LLC, the firm’s U.S. arm. Mr. Grant is a pioneer in the field of hedge fund risk management and capital allocation. Before joining Cheyne, he created risk control programs at two of the world’s leading hedge funds, Tudor Investments and SAC Capital, where he was eventually promoted to the title of Chief Investment Strategist. Mr. Grant holds a Bachelor of Science in Economics and Mathematics from the University of Wisconsin, an MA in Economics from Columbia University, and an MBA from the University of Chicago Graduate School of Business.
Author: Richard E. Baldwin
Publisher:
ISBN: 9781907142239
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
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.
