Towards an alternative narrative for the multilateral trading system
By Faizel Ismail
This presentation will argue that the recent attempts by some policy makers to use the concept of Global Value Chains (GVCs) to make a case for increased trade liberalization is deeply flawed for three reasons: First because it attempts to bring back the notion of a self-regulating market that is disembedded from society and divorced from the asymmetries in economic power that characterize today’s interdependent global economy; Second, because it attempts to revive the discredited Washington Consensus; and third because it does not provide a framework for helping developing economies develop beyond their current comparative advantages. Consequently, this approach to trade liberalization we will argue is a false basis to re-invigorate the current Doha round and to deal with the crisis in multilateralism. We will attempt to provide an alternative and more sustainable basis to rebuild the multilateral trading system.
Current issues in the WTO negotiations: a development view
By Jayant Dasgupta
Transcript of remarks of Ambassador Jayant Dasgupta, Permanent Representative of India to the World Trade Organization made at the WTO Public Forum session on Doha and the Multilateral Trade System: From Impasse to Development? on 26 September. (more…)
Trade and Investment Agreements—Barriers to National Public Health and Tobacco Control Measures.
An arbitral tribunal is expected to issue soon a decision on jurisdictional matters in a case brought by Philip Morris against the government of Uruguay. The claim, based on a bilateral investment treaty (BIT) between that country and Switzerland, challenges packaging and labeling requirements for cigarettes adopted by Uruguay to reduce tobacco’s consumption. (more…)
Developing countries are increasingly being adversely affected by the economic recession in Europe and the slowdown in the United States.
The hope that major emerging economies like China, India and Brazil would continue to have robust growth, de-coupling from Western economies and becoming an alternative engine of global growth has been dashed by recent data showing that they are themselves weakening.
What Explains the South’s Recent High Growth — And Can It Continue?
By Yilmaz Akyüz
Recently there emerged a view that developing countries had “de-coupled” their economies from the developed countries and had taken off to a path of high growth. But this is an overly-optimistic view. This article by the South Centre’s Chief Economist examines the growth record of developing countries and analyses how the good performance was based mainly on external factors that no longer exist. The next issue of SouthViews will have a follow-up article on the need for a new development strategy in the South.
Re-making Financial Policy to Meet Society’s Needs
By Yaga Venugopal Reddy
The financial sector has been hit by major crises and scandals, to the point that its credibility with the public has fallen to historically low levels. A re- thinking and re-making of financial policies and the role of financial institutions is thus urgently needed. This was the theme of a lecture presented by the distinguished former Governor of the Reserve Bank of India, Yaga Venugopal Reddy, which was made in conjuncture with the 2012 Annual General Meeting of the Bank for International Settlements held in Basel, Switzerland. The 2012 Per Jacobsson Foundation Lecture by Mr Reddy, made on 24 June 2012, covered three main themes: (1) Society and Finance, (2) Economic Policies and the Financial Sector, and (3) Regulation of the Financial Sector.
Below is the first part of the lecture, on Society and Finance. Future issues of SouthViews will publish the other two parts of the lecture.
The still-developing LIBOR scandal is the latest and biggest blow to the credibility of big banks and their regulators, and should catalyse broad-ranging reforms to the financial system.
The EPAs and Risks for Africa: Local Production and Regional Trade.
One of the main contentious issues in the Economic Partnership Agreements (EPAs) between the EU and African countries is the level of trade liberalization which Europe is asking for. This issue is certainly one of the most critical for Africa. (more…)
WTO’s MC8: Some Critical Issues for Developing Countries.
This Analytical Note provides an overview of the following: issues at stake in MC8 for developing countries and key messages for Ministers; the state of play including the main events that took place in the production of the ‘Elements for Political Guidance’ text; the legal status of the Chairman’s Statement as the outcome document of the Ministerial; (more…)
Economic Partnership Agreements in Africa: A Benefit-Cost Analysis.
This study provides a simple cost-benefit analysis of the Economic Partnership Agreements (EPAs) between African countries and the European Union. It compares the costs of signing an EPA – measured as tariff revenue losses, versus the “gains” of signing an EPA – measured as (more…)
Analysis Of Draft Waiver Decision On Services And Services Suppliers Of LDCs.
This Note is an analysis of the draft waiver decision submitted by the Chairman of the CTS to Ministers for adoption at the 8th Ministerial Conference. This is essentially a waiver from the most-favoured nation treatment clause (Article II. 1) in GATS to allow Members to provide preferential and more favourable treatment to services and services suppliers of LDCs. (more…)
LDC Package: State of Play and Proposed Language for WTO’s MC8.
The LDC Package was proposed by the WTO Director General, in his capacity as Trade Negotiations Committee (TNC) Chair in May 2011 for early harvesting at the Eighth Ministerial Conference (MC8) in December 2011. Since then, these negotiations have run into problems due to the resistance of the United States. (more…)
