Global Trade 2017

On three canonical responses to labour saving technical change Ravi Kanbur argues that the most powerful response would be to make innovation more labour intensive Globalisation may soon accelerate again Richard Baldwin and Vesa Vihriälä argue that it is time to get domestic policies right to reap the rewards of globalisation European worries about isolationist trends Populist shocks in the UK and US threaten the multilateral order on which the EU depends. Maria Demertzis asks what lies behind these earthquakes, and what does it mean for Europe? Addressing corruption with clarity Christine Lagarde believes that the IMF can only be true to its mandate if it speaks about corruption with clarity and offers all the tools at its disposal to help members Japan's choice Stephen Nagy discusses the choice for the Japanese; stability, security and growth vs. stagnation, insecurity and relative decline Sustaining openness in a dynamic global economy Stronger productivity growth is needed to combat the debt and demographic challenges faced by advanced economies, asserts Mario Draghi Winners from globalisation Ben Broadbent looks at the distributional effects of globalisation and the parallels between the effects of growing trade and those of technical progress – including the role of the latter in rising inequality in the US Brexit’s impact on trade Brexit and the election of Trump has injected a major dollop of uncertainty into international commerce. Dan Ciuriak writes about how this could reshape the global trading system USTR Lighthizer introduces the Trump trade doctrine Shanker Singham looks at President Trump’s trade policy, and what the Administration means by ‘free and fair’ trade China’s new world order Fraser Cameron reviews the BRI and considers whether China can manage internal transformations and provide the leadership to transform the countries between China and the EU The mixed blessing of the ‘multi-speed’ EU Marek Dąbrowski examines the rationale behind a multi-speed European Union and the potential risks that could encourage anti-EU sentiments Brexit fork in the road Angus Armstrong asks if it really is the case that the UK can ‘take back control’ and be better off at the same time? How can we better value and approach the experience of work? Deepeanshu Mohan discusses the behavioural essence attached in studying the value and nature of work How do you compensate losers from globalisation? Werner Eichhorst and Florian Wozny look at how the gains from openness can be realized without undermining support for trade and migration The new protectionism: where does it come from and where may it go? It seems we are in a transition towards a new international regime, a new order, finds Daniel Dăianu Europe in a new world order Maria Demertzis, André Sapir and Guntram Wolff explore what the EUs strategic reaction should be to US diminishing giant policies, and the EUs role in a world of declining hegemony and shifting balances Can Trump save the euro? The eurozone urgently needs an economic boost. Daniel Gros writes that US President Donald Trump may be just the person to deliver it Promoting climate protection while preventing protectionism Susanne Dröge says it is time to talk openly about the options and the risks and to agree on protecting the climate without protectionism Trump, Iran, and guidance for European businesses Matthew Oresman looks at the Trump Administration’s approach to Iran and what European businesses need to consider WTO TFA entry into force is a watershed moment for world trade The entry into force last month of the World Trade Organization’s Trade Facilitation Agreement – a landmark global trade agreement – could provide a boost to global trade flows of over US$1 trillion, writes the International Chamber of Commerce The impulse of power Deepanshu Mohan believes a wider mainstream understanding of power, in its evolutionary forms, studied from the lens of history and sociology, warrants a deeper scholarly reflection Brexit: a new industrial strategy and rules on state aid Nicholas Crafts argues that there is an unheralded downside of a hard Brexit A proliferating civil war amidst leaking identities Deepanshu Mohan reflects on the transcending away from free, modern values to a more authoritarian and heavy-handed state Reinvigorating productivity growth Christine Lagarde says that policymakers must take action to address the forces that are holding back productivity, such as aging, the global trade slowdown, and slowing improvements in educational attainment Post-Brexit trade and development policy Richard Baldwin, Paul Collier and Anthony Venables suggest that the time is ripe for the UK to embrace a new trade and development agenda to demonstrate a country ready to play a key role on the world stage Protectionist threats jeopardise international trade Meredith Crowley, Huasheng Song, and Ning Meng provide evidence that tariff scares have negative impacts on trade even when the threatened import tariff hikes never actually materialise The EU must stand ready to confront US leadership This is not the first time that the United States has antagonised Europe. And Europe can provide an effective response to such external challenges when it stands united, Emmanuel Mourlon-Druol writes In the pursuit of a ‘good’ economy There is a vital need for a morally acceptable, welfare inducing economic system, Deepanshu Mohan writes