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Tag Archives: World Trade Organization (WTO)

A reflection on the Mercosur agreement

The EU accepts the deal because it is worried about the catastrophic scenario of a world without the WTO. Just as Jean-Claude Juncker is leaving his post as President of the European Commission, and after 20 years of waiting, the European Union has signed a free trade agreement with Mercosur – the so-called single market, which is far from it given the recurrent differences in the economic policies of its Member States, especially between Argentina and Brazil but also of the smaller...

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China and the world trade organisation: towards a better fit

China’s participation in the WTO has been anything but smooth, as its self-proclaimed socialist market economy system has alienated its trading partners. The WTO needs to translate some of its implicit legal understanding into explicit treaty language, in order to retain its principles while accommodating China. China’s accession to the World Trade Organisation in 2001 was hailed as the natural conclusion of a long march that started with the reforms of Deng Xiaoping in the 1970s....

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Implications of the escalating China-US trade dispute

If allowed to escalate, the trade dispute between China and the United States will significantly increase the likelihood of a global protectionist surge and a collapse in the rules-based international trading system. Here the author assesses the specific impacts on the Chinese and US economies, as well as the strategic problems this dispute poses for Europe. President Trump’s decision to increase tariffs from 10% to 25% on $200 billion-worth of imports from China, and his threat to do...

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Life after the multilateral trading system

Considering a world absent a multilateral trading system is not to promote such an outcome, but to encourage all to prepare for the worst and instil greater clarity in the mind of policymakers as to what happens if compromise fails. This article was published by Nikkei Veritas, Caixin, Handelsblatt, and Le Monde. The China-US trade talks, crucial as they are, divert attention from the main event: the World Trade Organization, the essential institution underpinning the post-war...

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Director’s cut: EU-China partnership after the 21st EU-China summit

Guntram Wolff discusses with Alicia Garcia Herrero the results of the 21st EU-China Summit In this episode of the Director’s cut, Guntram Wolff discusses with Alicia Garcia Herrero about the results of the 21st EU-China Summit. The EU and China committed to further strengthen the EU-China strategic partnership at the 21st EU-China summit. Both sides agreed on a joint statement setting out the direction for EU-China relations in the years to come. Leaders expressed their joint support...

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Director’s Cut: China’s place in the global trading system

Bruegel director Guntram Wolff and senior fellow André Sapir discuss how potential WTO reform might position the organisation differently towards China. In this Director’s Cut of ‘The Sound of Economics’, Guntram Wolff talks to Bruegel senior fellow André Sapir about his upcoming paper on the WTO reform, specifically what is necessary in order for the Chinese economic system to be compatible with the global multilateral trading system. China has recently been atop the European policy...

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The European Union’s response to the trade crisis

The global trading system is under attack on various fronts. In this Policy Contribution, the authors examine the root causes of the current problems, develop good and bad scenarios for what could happen next, and provide recommendations for how the EU should respond. The global trading system, a source of prosperity, is under attack on various fronts. The causes run deep and require a strategic response from the European Union and from the main trading nations. The future of the...

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Tense transatlantic relations put EU in tough spot

The global multilateral system is being challenged by the US and China, which prompts the EU to rethink how well it can compete in the world. This article was published by Capital. Preferential trading agreements under the global trading system (known as the WTO) cover between one third and one half of world trade. EU countries do the greatest part of their trade under such preferential rules (including intra-EU) and have always been a big defender of open and free trade for all, and...

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Director’s Cut: Balancing free trade with national security interests

In this episode of Director's Cut, Stephanie Segal of CSIS joins Bruegel's Guntram Wolff and Maria Demertzis for a conversation about the tension between free trade and national security issues, and the emerging threats to multilateralism. In a changing geopolitical order, with China on the rise, the linkage of economic and national security is more evident than ever. The boom of disruptive new technologies is accompanied by increasingly country-centric political tendencies, and the more...

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What can the EU do to keep its firms globally relevant?

There is a fear that EU companies will find it increasingly difficult to be on top of global value chains. Many argue that EU-based firms simply lack the critical scale to compete and, in order to address this problem, that Europe’s merger control should become less strict. But the real question is where the EU can strengthen itself beyond the realm of competition policy. This article was published by the Berlin Policy Journal, La Repubblica and Handelsblatt. Big is beautiful – so...

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