Geopolitical competition, globalization and WTO reform

HOEKMAN, Bernard M.; MAVROIDIS, Petros C.; NELSON, Douglas

Geopolitical competition, globalization and WTO reform

dc.contributor.author	HOEKMAN, Bernard M.
dc.contributor.author	MAVROIDIS, Petros C.
dc.contributor.author	NELSON, Douglas
dc.date.accessioned	2022-11-14T13:13:18Z
dc.date.available	2022-11-14T13:13:18Z
dc.date.issued	2022
dc.description.abstract	Global trade and investment is increasingly characterized by systemic conflicts, giving rise to unilateral policies to attain competitiveness, national security and other noneconomic objectives. Disparate national measures motivated by all these objectives targeting the global value chains that have helped drive globalization create policy uncertainty, increase political risk and potentially distort trade and investment decisions. Sustaining an open, rules-based trade system calls for deliberation to help clarify underlying policy objectives, assess effectiveness and spillover effects of domestic measures. Policy dialogue centered on the use of specific trade concerns, already used in some WTO agreements, offers a path forward for such dialogue, one that may be more effective than formal dispute settlement, assuming a functioning dispute resolution system can be re-established, in coping with the return of geopolitical rivalry. Plurilateral cooperation among like-minded nations on the use of trade policies to pursue noneconomic objectives, and between the large trade powers on economic policies that generate competitiveness concerns, are both a pragmatic and efficient path forward in addressing spillovers associated with the rise of unilateral trade action motivated by security considerations and domestic nontrade objectives.	en
dc.format.mimetype	application/pdf	en
dc.identifier.issn	1028-3625
dc.identifier.uri	https://hdl.handle.net/1814/75022
dc.language.iso	en	en
dc.orcid.upload	true	*
dc.publisher	European University Institute	en
dc.relation.ispartofseries	EUI RSC	en
dc.relation.ispartofseries	2022/67	en
dc.relation.ispartofseries	Global Governance Programme-482	en
dc.relation.ispartofseries	[Global Economics]	en
dc.rights	info:eu-repo/semantics/openAccess	en
dc.rights.license	Attribution 4.0 International	*
dc.rights.uri	http://creativecommons.org/licenses/by/4.0/	*
dc.subject	Globalization	en
dc.subject	Geopolitics	en
dc.subject	National security	en
dc.subject	Values	en
dc.subject	Non-economic objectives	en
dc.subject	WTO	en
dc.title	Geopolitical competition, globalization and WTO reform	en
dc.type	Working Paper	en
dspace.entity.type	Publication
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person.identifier.other	36413
person.identifier.other	26598
person.identifier.other	43928
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