Global Trade and Trade Governance During De-Globalization: Transforming Trade Policy for Not-So-United World (International Political Economy Series)

Foreword
Contents
Notes on Contributors
Abbreviations
List of Figures
List of Tables
Part I Development of Global Trade and Trade Governance
1 Lessons from Trade Policy Research
	Introduction
	Development of Trade Policy as a Research Topic
		International Trade Explained by Economists
		Trade Liberalisation and the New MNEs
		The Globalisation of Free Trade and Rising New Markets
	Conclusions
	References
2 Global Trade Policy Regimes and Previous Crises
	Crises as Drivers of Regime Change
	From Free Trade to Protectionism in the Era of World Wars
	Trade Liberalization in the West, 1947–1980
	Globalizing Free Trade from 1980s to the Crises of the 2000s
	References
Part II Disruptions of Global Trade
3 WTO in a Changing Geopolitical Environment
	Introduction
	The Birth of the WTO—An Institution Emblematic of a Moment in Time
	A Strong New Institution—But One Contested from the Beginning
	China’s Accession to the WTO, Changing Geopolitical Weights, and Distributional Consequences
	The Creators Grow Disillusioned; New Challenges Arise
	Possible Futures for the WTO as It Navigates These Complex Currents
	References
4 Regional Trade Agreements: A Hope or a Threat to the Global Trade?
	Regional Trade Agreements: Global Trading System Radical Re-Shaking
		Regionalisation—Regionalism—Regional Integration and Regional Trade Agreements (RTAs)
		The Growing Role of RTAs in International Trade
		RTAs Growing Maturity: Meeting Global Challenges, Becoming Comprehensive and Sustainable
		The RTAs and the Multilateral Trading System: Increased Fragmentation and Protectionism or Continued Globalization and Liberalization?
	References
5 How Do Global Value Chains Challenge Traditional International Business Policy?
	Introduction
	Trifecta of Tasks, Linkages, and Firms
		Tasks
		Linkages
		Firms
	The Trifecta’s Influence on Trade Policy Narratives
		GVC Participation Narrative
		GVC Resilience Narrative
		Value Capture Narrative
		Sustainability Narrative
	Discussion and Concluding Comments
	References
6 The US–China Relations and Trade Policy
	Introduction
	U.S.–Japan and U.S.–China Bilateral Trade Balances
	“Unique” Industry Organizations in Japan and “Unique” Chinese State-Led Capitalism
	Exchange Rate Manipulations
	The Technological Competition
	Conclusion
	References
7 Post-brexit Trade Policy and Its Impact on United Kingdom’s Economy
	Introduction
		Brexit and Services
	Britain and Post-Brexit Trade
	Negotiating with Non-Eu-Partners
	Conclusion
	References
8 Trade Policy Challenges from the Perspective of Small and Open Economy: The Cases of Latvia and Iceland During 2008/2009 Financial and Economic Crises
	Introduction
	The Way to the 2008/2009 Financial Crisis in Latvia and Iceland
	The Political Exit from Crises in Latvia and Iceland from 2008 Until 2011
	Conclusion
	References
Part III Trade Policy for Futures
9 Sustainable Development in EU Trade Agreements: Different Trade Partners, Different Rules?
	Introduction
	Background Information on EU Trade Agreements
	Integration of Environmental Concerns in EU Trade Agreements
	Degree of the Integration of Environmental Concerns in Trade Agreements
	Depth of the Integration of Environmental Concerns in Trade Agreements
	Conclusion
	References
10 Future Challenges to Trade Policy in Support of International Business
	Introduction
	WTO Flexibilities in a Time of Contestation
	Sustainable Development and EU Trade Policy Shifts
		GSP—Differentiating Between Countries
		Balancing Market Access and Climate Change Imperatives—the Carbon Border Adjustment Mechanism (CBAM)
		Balancing Market Access and Impacts of Increased Demand on Land Use—The Regulation on Products Linked to Deforestation
		Due Diligence in Supply Chains—Differentiating Between Companies
	Innovations in Trade Policy—The Challenges for Business
	Conclusion
	References
11 Two Lenses to Megatrends in Trade Policy: Towards a Future-Oriented Contextual Approach
	Introduction
	Megatrend: A Contested, but Widely Utilised Concept
	Two Lenses to Megatrends: Towards a Contextual Approach
	Enacting the Contextual Approach: The Case of European Union’s Novel Trade Policy Framework
	Concluding Remarks
	References
12 Conclusions: The Future of Trade Policy in the Not So United World
	Trade Policy and International Business Amidst De-Globalisation—How Did We Get Here, What Is Going On, and Where Are We Going?
	The Future Dynamics of Trade Policy and International Business—Improving the Old or Creating Anew?
Index