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51. The Modern Agreement of Amity and Commerce: Toward a New Model for Trade Agreements

Author:
Beth Baltzan
Publication Date:
10-2020
Content Type:
Policy Brief
Institution:
Open Society Foundations
Abstract:
Around the world, the process of economic globalization is under fire for serving the needs of corporate elites rather than ordinary citizens. But it is important to recall that trade does not have to aggravate inequality. The rules of globalization matter. If we have better rules for trade, trade will produce better results. In this paper, Beth Baltzan, a trade lawyer with extensive experience in government, proposes a new paradigm for a more equitable trading regime—outlining the key elements of an agreement with the overarching purpose of fostering positive relations between like-minded parties.
Topic:
Globalization, Economic Inequality, Trade, and Trade Policy
Political Geography:
Global

52. Challenges facing the CAP over the next decade

Author:
Bernard Bourget
Publication Date:
02-2020
Content Type:
Policy Brief
Institution:
Robert Schuman Foundation (RSF)
Abstract:
The Common Agricultural Policy (CAP) will enter the next decade relieved by Brexit of its fiercest opponent but weakened by the external pressures to which it has been subjected, and disrupted by the enlargement of the European Union. In the 2020s, it will have to take full account, in conjunction with the European Commission's Green Deal, of the environmental and climate issues that are so important for agriculture. It will also have to improve the management of climate, health and market risks, which global warming could aggravate, and strengthen the negotiating capacity of producer organisations with their powerful buyers in the food industry and supermarkets. Budgetary pressure may lead the European Union to distribute direct payments, (which account for three quarters of CAP expenditure), more fairly by placing the burden rather more on large farms, in order to spare the medium-sized family farms, which are still numerous in the western part of the continent. Finally, the CAP should be coordinated with other European policies, particularly trade policy.
Topic:
Agriculture, Climate Change, Budget, European Union, and Trade Policy
Political Geography:
Europe

53. The Impact of Sanctions Imposed by the European Union against Iran on their Bilateral Trade: General versus Targeted Sanctions

Author:
Mahdi Ghodsi and Hüseyin Karamelikli
Publication Date:
05-2020
Content Type:
Working Paper
Institution:
The Vienna Institute for International Economic Studies (WIIW)
Abstract:
Economic sanctions are intensively used by international institutions to enforce political objectives. Since 2006 the EU has been implementing general sanctions against the whole economy of Iran, affecting their trade relations. Since 2007, and following the imposition of sanctions by the UN Security Council, the EU has also implemented smart sanctions targeting Iranian entities and natural persons associated with its military activities. In a non-linear autoregressive distributed lag (NARDL), this paper investigates the impact of general and targeted EU sanctions against Iran on quarterly bilateral trade values between the 19 members of the euro area (EA19) and Iran between the first quarter of 1999 and the fourth quarter of 2018. The results indicate that general sanctions have strongly hampered trade flows between the two trading partners. The impact of general sanctions on the total imports of the EA19 from Iran is more than four times stronger than on the total exports of the EA19 to Iran. Moreover, the EU’s general sanctions have hampered trade in almost all sectors, except for the primary sectors. Furthermore, our study finds that the impact of smart sanctions targeting Iranian entities and natural persons is much smaller than the impact of general sanctions on total trade values and the trade values of many sectors. Smart sanctions affect the exports of most sectors from the EA19 to Iran, while they are statistically insignificant for the imports of many sectors from Iran. Thus, this paper provides evidence on the motivations behind smart sanctions, which target specific individuals and entities rather than the whole economy, unlike general sanctions, which have a negative impact on ordinary people.
Topic:
United Nations, Sanctions, Trade, and Trade Policy
Political Geography:
Europe, Iran, United Nations, and European Union

54. A European carbon border tax: much pain, little gain

Author:
Ben McWilliams and Georg Zachmann
Publication Date:
03-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The European Commission should not make the implementation of a carbon border adjustment mechanism into a must-have element of its climate policy. There is little in the way of strong empirical evidence that would justify a carbon-adjustment measure. Moreover, significant logistical, legal and political challenges will arise during the design. The EU should instead focus upon the implementation of measures to trigger the development of a competitive low-carbon industry in Europe.
Topic:
Climate Change, Energy Policy, European Union, Trade Policy, and Carbon Tax
Political Geography:
Europe

55. Market versus policy Europeanisation: has an imbalance grown over time?

Author:
Leonardo Cadamuro and Francesco Papadia
Publication Date:
01-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
This Policy Contribution tests the hypothesis that an imbalance has grown in Europe over the last few decades because markets have integrated to a greater extent than European-level policymaking, potentially creating difficulties for the democratic process in managing the economy. This hypothesis has been put forward by several authors but not so far tested empirically.
Topic:
Markets, Governance, Democracy, Regional Integration, Macroeconomics, and Trade Policy
Political Geography:
Europe

56. GEOGRAPHY, INTERNATIONAL TRADE AND INSTITUTIONS: AN ECONOMETRIC ANALYSIS OF THE BRICS

Author:
Marcelo Corrêa, Luiz Michelo, and Carlos Schonerwald
Publication Date:
01-2020
Content Type:
Journal Article
Journal:
Conjuntura Austral: Journal of the Global South
Institution:
Conjuntura Austral: Journal of the Global South
Abstract:
After two decades of intense debate about the determinants of economic development, with authors examining the variables that characterize geography, institutions and international trade, BRICS countries were left behind. Thus, in order to fill this gap, this paper uses econometrics of panel data to analyze the economic performance of these developing nations. Mainstream economists have run into serious problems to deal with these particular determinants within the traditional endogenous growth model, and they have not come up with an agreement, so they keep trying to figure out who is the “winner of this competition”. Empirical evidence shows that there is not a unique explanatorydeterminant, and recognizing which of them can provide the best understandingdepends on the particularities of each case (ROS, 2013).Examining BRICS as a group of countries demonstrates that these specific developing nations share some remarkable features. They are rapidly-growing nations with a vast amount of land and growing participation in international trade. So, empirical tests are feasible and desirable in order to understand their recent development. However, they are also different in many aspects, mostly in terms of institutional characteristics. Thus, our goal is to find out if the econometrics of panel data can shed some light on this ongoing debate.
Topic:
International Political Economy, International Trade and Finance, Trade, Trade Policy, Economic Cooperation, and Geography
Political Geography:
Russia, China, India, South Africa, and Brazil

57. Brothers in Arms and Faith? The Emerging US-Central and Eastern Europe ‘Special Relationship’

Author:
Vibeke Schou Tjalve and Minda Holm
Publication Date:
02-2020
Content Type:
Special Report
Institution:
Norwegian Institute of International Affairs
Abstract:
In this policy note, we explore the nature, strength and tensions of the contemporary US-Central Eastern Europe relationship. We describe the expanding US-CEE ‘brotherhood in arms’: growing trade relations, intensified military cooperation, and rekindled diplomatic ties. Further, we unpack the striking and largely ignored dimensions of the US-CEE ‘brotherhood in faith’: the many ways in which the United States and Central and Eastern Europe are tied together by overlapping ideologies of national conservatism and a particular version of Christian ‘family values’. This involves addressing the complexities of an increasingly influential and ambitious Visegrád Group, whose key players – Poland and Hungary – may be brothers, but are by no means twins. It also means raising some broader, burning discussions about the future of NATO and the meaning of ‘Europe’. Universalist, multicultural and postnational? Or conservative, Christian and sovereigntist?
Topic:
Diplomacy, International Cooperation, Conservatism, Alliance, Ideology, Christianity, and Trade Policy
Political Geography:
United States, Eastern Europe, and Central Europe

58. WTO Industrial Subsidy Regulation: US-EU-Japan Joint Statement of January 2020 and Afterwards

Author:
Cheon-Kee Lee
Publication Date:
04-2020
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
On 14 January 2020 the United States, the European Union, and Japan (hereinafter referred to as “US-EU-Japan”) issued a trilateral joint statement, proposing a set of new rules to strengthen WTO regulation on industrial subsidies. While a total of seven joint announcements have been made so far, this is the first time that three WTO Members have presented specific ideas on how to amend existing subsidy rules. Many of the proposed amendments seem to primarily target China’s trade policy and practices. Among the six amendment items proposed in the Joint Statement, it seems that the United States is paying particular attention to the sixth item, i.e. in making explicit the possibility of using the out-of-country benchmark and on introducing necessary requirements to do so in measuring the benefit conferred and, ultimately, in calculating the amount of the countervailing duties (CVDs). Against this backdrop, in this Brief the author analyzes the relevant WTO provisions and GATT/WTO jurisprudence, and discusses various scenarios on future negotiations on WTO Reform on industrial subsidies.
Topic:
World Trade Organization, Economy, Negotiation, Trade Policy, and Industry
Political Geography:
Japan, China, United States of America, and European Union

59. Japan’s Trade Policy in the Midst of Uncertainty

Author:
Yuka Fukunaga
Publication Date:
02-2020
Content Type:
Policy Brief
Institution:
Institut français des relations internationales (IFRI)
Abstract:
The multilateral trading system under the World Trade Organization (WTO) has been of the utmost importance for Japan's trade policy. In particular, Japan strongly supports the WTO’s rule-based dispute settlement mechanism, and frequently uses it. At the same time, in recent years, the adoption and implementation of regional and mega-regional trade agreements have become critical in Japan’s trade policy, with the stalling of the Doha Round negotiations in the WTO. Although the core of its trade policy remains the same today, Japan has been forced to rethink and modify it in response to the aggressive and unilateral trade policy of the Trump administration.
Topic:
World Trade Organization, Governance, Internet, Free Trade, and Trade Policy
Political Geography:
Japan, China, Asia, South Korea, North America, United States of America, and European Union

60. Saudi Arabia’s Policy in Africa : Vectors and Objectives

Author:
Benjamin Augé
Publication Date:
02-2020
Content Type:
Commentary and Analysis
Institution:
Institut français des relations internationales (IFRI)
Abstract:
Until recently, Saudi Arabia was the country out of the Gulf countries that had the greatest number of diplomatic missions in Africa. Although it is now outstripped by Qatar, which has been striving since the beginning of the Emirati-Saudi embargo that started in June 2017 to open a large number of diplomatic posts in Africa. The Saudi diplomatic network was formerly established in predominantly Muslim states (in the Maghreb, West Africa and in the Horn of Africa) and in South Africa. The kingdom can mainly rely on experienced diplomats, who have maintained a presence in Africa since the 1970s, boosted after the 1979 Iranian Islamic Revolution and the desire to prevent a spread of Shiism on the continent. Nowadays, Saudi Arabia is also clearly involved in Africa as elsewhere, to counter the influence of its Qatari neighbor.
Topic:
Diplomacy, Islam, Soft Power, and Trade Policy
Political Geography:
Africa, Saudi Arabia, Qatar, and Gulf Nations