Misadventures of the Most Favored Nations

Misadventures of the Most Favored Nations
Author: Paul Blustein
Publisher: Public Affairs
Total Pages: 362
Release: 2009-09-22
Genre: Business & Economics
ISBN: 1586487183

An acclaimed expert on the global economy illuminates the human foibles, hidden agendas, and political follies that threaten the end of the globalization movement.

Misadventures of the Most Favored Nations

Misadventures of the Most Favored Nations
Author: Paul Blustein
Publisher: PublicAffairs
Total Pages: 361
Release: 2009-09-22
Genre: Political Science
ISBN: 0786746203

As a linchpin of global capitalism, the World Trade Organization is both revered and reviled. In this book, financial journalist Paul Blustein tells the surprisingly entertaining and compelling story of how the WTO is sliding into dysfunctionality -- which poses a new and grave menace to globalization itself. In more than seven years of global talks the WTO has struggled and failed to resolve contentious differences between rich and developing nations. Now, with a worldwide recession underway, the WTO's failure is contributing to a rise in protectionism -- a sign that the world may not be so flat after all. Misadventures of the Most Favored Nations recounts, in vivid detail, how the highstakes negotiations went awry. At risk, Blustein argues, is the fate of the system that for six decades has opened the global economy and kept it from splintering.

Symbolic Power in the World Trade Organization

Symbolic Power in the World Trade Organization
Author: Matthew Eagleton-Pierce
Publisher: Oxford University Press
Total Pages: 273
Release: 2013
Genre: Law
ISBN: 0199662649

Questions of power are central to understanding global trade politics and no account of the World Trade Organization (WTO) can afford to avoid at least an acknowledgment of the concept. A closer examination of power can help us to explain why the structures and rules of international commerce take their existing forms, how the actions of countries are either enabled or disabled, and what distributional outcomes are achieved. However, within conventional accounts, there has been a tendency to either view power according to a single reading - namely the direct, coercive sense - or to overlook the concept entirely, focusing instead on liberal cooperation and legalization. In this book, Matthew Eagleton-Pierce shows that each of these approaches betray certain limitations which, in turn, have cut short, or worked against, more critical appraisals of power in transnational capitalism. To expand the intellectual space, the book investigates the complex relationship between power and legitimation by drawing upon Pierre Bourdieu's notion of symbolic power. A focus on symbolic power aims to alert scholars to how the construction of certain knowledge claims are fundamental to, and entwined within, the material struggle for international trade. Empirically, the argument uncovers and plots the recent strategies adopted by Southern countries in their pursuit of a more equitable trading order. By bringing together insights from political economy, sociology, and law, Symbolic Power in the WTO not only enlivens and enriches the study of diplomatic practice within a major multilateral institution, it also advances the broader understanding of power in world politics.

Between Law and Diplomacy

Between Law and Diplomacy
Author: Joseph Conti
Publisher: Stanford University Press
Total Pages: 341
Release: 2010-12-21
Genre: Law
ISBN: 0804777381

Between Law and Diplomacy crafts an insider's look at international trade disputes at one of the most important institutions in the global economy—the World Trade Organization. The WTO regulates the global rules for trade, and—unique among international organizations—it provides a legalized process for litigation between countries over trade grievances. Drawing on interviews with trade lawyers, ambassadors, trade delegations, and trade jurists, this book details how trade has become increasingly legalized and the implications of that for power relations between rich and poor countries. Joseph Conti looks closely at who uses the system to initiate and pursue disputes, who settles and on what terms, and the relative disconnect between pursuing a dispute and what a country gains through efforts to gain compliance with WTO dictates. Through this inside look at the process of disputing, Conti provides fresh perspective on how and why the law authorizes the use of specific resources and tactics in the ever unfolding struggle for control in the global economy.

Alternative Visions of the International Law on Foreign Investment

Alternative Visions of the International Law on Foreign Investment
Author: C. L. Lim
Publisher: Cambridge University Press
Total Pages: 531
Release: 2016-03-03
Genre: Law
ISBN: 1316558851

This book is about the forces that are reshaping the international law on foreign investment today. It begins by explaining the liberal origins of contemporary investment treaties before addressing a current backlash against these treaties and the device of investment arbitration. The book describes a long-standing legal-intellectual resistance to a neo-liberal global economic agenda, and how tribunals have interpreted various treaty standards instead. It introduces our reader to the changes now taking place in the design of a range of familiar treaty clauses, and it describes how some of these changes are now driven not only by developing and emerging economies but also by the capital-exporting nations. Finally, it explores the life, career and writings of Muthucumaraswamy Sornarajah, a scholar whose work has been dedicated to the realisation of many of these changes, and his views about the hold global capital has over legal practice.

Schism

Schism
Author: Paul Blustein
Publisher: McGill-Queen's Press - MQUP
Total Pages: 248
Release: 2019-09-10
Genre: Business & Economics
ISBN: 1928096867

China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.

The Great Tradeoff

The Great Tradeoff
Author: Steven R. Weisman
Publisher: Peterson Institute for International Economics
Total Pages: 292
Release: 2016-01-07
Genre: Political Science
ISBN: 0881326968

The global financial and economic crisis that began in 2008 has blasted livelihoods, inspired protests, and toppled governments. It has also highlighted the profound moral concerns long surrounding globalization. Did materialist excess, doctrinaire embrace of free trade and capital flows, and indifference to economic injustice contribute to the disaster of the last decade? Was it ethical to bail out banks and governments while innocent people suffered? In this blend of economics, moral philosophy, history, and politics, Steven R. Weisman argues that the concepts of liberty, justice, virtue, and loyalty help to explain the passionate disagreements spawned by a globally integrated economy.

Globalization at Risk

Globalization at Risk
Author: Gary Clyde Hufbauer
Publisher: Yale University Press
Total Pages: 234
Release: 2010-10-19
Genre: Business & Economics
ISBN: 0300157312

History has declared globalization the winner of the 20th century. Globalization connected the world and created wealth unimaginable in the wake of the Second World War. But the financial crisis of 2008-09 has now placed at risk the liberal economic policies behind globalization. Engulfing the entire world, the crisis gave new fuel to the skeptics of the benefits of economic integration. Policy responses seem to favor anti-globalizers. New regulations could balkanize the global financial system, while widespread protectionist impulses might undo the Doha Round. Issues from climate change to national security may be used as convenient excuses to keep imports out, keep jobs at home, and to clamp down on global capital. Will globalization triumph or perish in the 21st century? What reforms make sense in the post-crisis world?International economists Gary Clyde Hufbauer and Kati Suominen argue that globalization has been a force of great good, one that needs to be actively advanced and honed. Drawing on the latest economic analyses, they reveal the drivers and effects of global finance and trade, lay out the key risks to globalization, and offer a practical policy roadmap for managing the challenges while increasing the gains. Vital reading for anyone in business, finance, foreign affairs, or economics, Globalization at Risk is sure to advance public debate on this defining issue of the 21st century.

Emerging Powers in the WTO

Emerging Powers in the WTO
Author: C. Michalopoulos
Publisher: Springer
Total Pages: 273
Release: 2013-11-29
Genre: Business & Economics
ISBN: 1137297085

This volume examines the main factors for developing country trade performance in the last thirty years, their own trade policies, market access issues they face, and their increasingly more effective participation in the WTO and the Doha Round of multilateral trade negotiations.