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Tag Archives: trade

COVID-19 and India: economic impact and response

This piece was published the day before India imposed one of the world's strictest lockdowns in its response to the COVID-19 response. It remains relevant in assessing the government's actions in the ten weeks that have since passed. A group has been convened under the leadership of the Finance Minister to coordinate the government’s response to the economic and financial consequences for India of the COVID-19 virus. Some of these consequences are already evident; others will follow....

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What the EU should do and not do on trade in medical equipment

The European Union has introduced export controls on some medical supplies. This was a mistake. It should announce that it is withdrawing the measure, and call on other countries to do the same. By: André Sapir Date: March 25, 2020 Topic: European Macroeconomics & Governance After the 2009 avian-flu pandemic, which killed more than 150,000 people worldwide, and the 2014-16 Ebola epidemic, which killed more than 11,000 people in Africa, many voices in the health community...

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What can the EU learn from the China-Switzerland free trade agreement?

The US-China trade war has placed EU trade relations with China under the microscope. Should the EU challenge China’s trade practices and employ trade defence measures? Or should they be diplomatic and embark on negotiations, perhaps paving the way to a Free Trade Agreement? Close examination of the 2013 agreement between China and Switzerland suggests much will have to change for trade negotiations between China and the EU to succeed.China and Switzerland signed a free trade agreement...

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Companies must move supply chains further from China

Virus shows Southeast Asian factories too dependent on imported production inputsMore abrupt and unexpected than the U.S.-China trade war, the Wuhan coronavirus outbreak has become a wake-up call for international companies about the risks of excessive dependence on China.It is already proving a far bigger shock than the 2003 severe acute respiratory syndrome, or SARS, outbreak. This is because China’s economy is now more than eight times larger than it was then and its importance to the...

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Why the US Trade Agreement will slow China’s economy

The response of the global financial markets to the trade agreement reached between the United States and China has been very positive, probably excessively so given the relatively limited size of the agreement reached.The positive thing about the agreement is that it allows a truce — at least partially — in the strategic competition between China and the United States. This truce comes at a key moment for both President Donald Trump and President Xi Jinping for different reasons. China...

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Resisting deglobalisation: the case of Europe

Global trade and finance data indicates that the pre-2008 pace of economic globalisation has stalled or even reversed. The European Union has defied this trend, with trade flows and financial claims continuing to grow after the recovery from the 2008 global economic and financial crisis. Immigration, including intra-EU mobility, has also continued to increase. By: Zsolt Darvas Date: February 4, 2020 Topic: European Macroeconomics & Governance Our analysis of public opinion in EU...

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From globalization to deglobalization: Zooming into trade

External PublicationThis article shows some evidence of the decrease in merchandise, capital and, to a lesser extent people to people flows. By: Alicia García-Herrero Date: February 3, 2020 Topic: Global Economics & Governance After decades of increasing globalization both in trade, capital flows but even people to people movements, it seems the trend has turned towards deglobalization. This article shows some evidence of the decrease in merchandise, capital and, to a lesser...

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The WTO is dead: long live the WTO?

Should the EU fight to save the WTO when the US seeks to dismantle it? We argue that the only way for the EU to decide that is to first understand the US’s strategy (as distinct from its tactics) and then make up its mind in terms of how much of a threat it perceives China to be.The World Trade Organisation (WTO) is pivotal in enabling and protecting trade between countries. The recent US failure to appoint a judge at the WTO’s appellate court has meant that it will no longer be able to...

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Lessons from the China-US trade truce

The tentatively agreed deal between China and the United States temporarily stops a dangerous dynamic, yet it falls far short of the negotiating objectives of both sides. US trade policy has become a dominion of the executive branch guided principally by the President’s electoral interests. Meanwhile, China demonstrates its capacity to resist pressure: it will enact structural reforms at its own pace in line with its interests. Sadly, the deal confirms that the United States no longer feels...

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Appellate Body Politic

This week, the WTO's Appellate Body, the dispute settlement body, became inoperational: it no longer has the necessary number of judges to render verdicts. What does this mean for international trade and multilateralism? Are we now living in a world without dispute settlement? This week, Guntram Wolff is joined by Alan Beattie, the author of the FT's new Trade Secrets newsletter, and Alicia García-Herrero to discuss the crisis of the Appellate Body. By: The Sound of Economics Date: December...

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