Emerging Powers and the Global Commons
As emerging markets come to dominate the global economy, no challenge will be more difficult—and few will be more important—than managing the global commons. […]
International Trade
Yes, the United States is Competitive
Despite politicians lamenting the decline of U.S. competitiveness, America remains one of the most competitive and productive nations in the world. Policy makers should instead focus on the real problem: spending. […]
Why is Protectionism Dormant?
The forces that kept protectionism at bay during the financial crisis—chief among them, national laws, regional agreements, and structural economic shifts—should be the focus of future trade negotiations. […]
Is Protectionism Dying?
Although World Trade Organization policies helped limit the increase in protectionist measures during the recent financial crisis, a mutually reinforcing set of legal and structural changes in the world economy played a larger role in keeping global markets open. […]
The Rise of Trade in Intermediates: Policy Implications
The increased use of intermediate inputs in world trade distorts bilateral trade balances, reduces the importance of exports as drivers of demand, and hides the true cost of protectionism. […]
Who Will Gain from a Renminbi Revaluation?
Policy makers around the world who are pushing China to revalue its exchange rate should note that an appreciation of the renminbi—unless accompanied by an acceleration of China’s domestic demand—will be of little benefit to most economies. […]
The Future of the World Trading System
As international integration deepens and the global trading system becomes increasingly more complex, the WTO can take important steps to not only promote trade liberalization, but also to reaffirm its role as the ultimate regulator of global trade. […]
Global Trade on the Mend but Serious Risks Remain
The strong recovery in global trade is now threatened by the European debt crisis, which will depress demand in Europe, reduce trade financing, and potentially force the early withdrawal of stimulus measures across the G20 and increase protectionism. […]
Fair Competition was Distorted but There is No Protectionist Surge
The Great Recession prompted a number of far-reaching government interventions. While those interventions did distort competition, they did not do so in an overly protectionist way that risks undermining markets in the longer-term. […]
The Transformation of World Trade
Developing countries already play a substantial role in world trade, and their significance is only expected to rise. As they diversify and grow as export markets, emerging economies will come to dominate international trade. […]