How do shifts in the global balance of power shape the world economy? We propose a theory of alignment-based “hegemonic globalization,” built on two central premises: countries differ in their preferences over policies (such as the rule of law or regulatory frameworks) and trade between any...

China-India relations, which have long been fraught, were further complicated by the 2020 military standoff on the Himalayan border. The political disruption had a significant impact on Chinese companies' presence in India. And yet, India's dependence on Chinese imports has increased since. The...

How do shifts in the global balance of power shape the world economy? We propose a theory of alignment-based “hegemonic globalization”, built on two central premises: countries differ in their preferences over policies (such as the rule of law or regulatory frameworks) and trade between any...

The second administration of United States President Donald Trump has shaken the foundations of the multilateral trading system by implementing unilateral tariffs on imports from most of its partners, and by signing 'deals' with a few of them. It is impossible to legally reconcile these actions...

Members of the World Trade Organization are increasingly disregarding its rules, raising concerns about the future of the multilateral trading system. To analyze the sustainability of the rules-based trade regime, we develop a dynamic framework of stochastic asynchronous games where the leading...

International trade appears to be strongly dependent on the political environment and institutional arrangements. In this context, the commented strand of economics is expected to follow the relationships that can be turbulent. The paper reviews the available literature on international trade,...

This paper investigates the role of firm heterogeneity in environmentally extended new trade models, contrasting Eaton-Kortum and Melitz models to Armington and Krugman models. We show that when emissions per sales are constant across firms -- a standard assumption in the literature -- all four...

This paper critically analyzes the operations and effectiveness of the World Trade Organization’s (WTO) Working Group on Trade and Transfer of Technology (WGTTT). Despite the establishment of the WGTTT in 2001 with a mandate to enhance technology flows to developing countries, the Group has...

This paper investigates the elusive role of productivity heterogeneity in new trade models in the trade and environment nexus. We contrast the Eaton-Kortum and the Melitz models with firm heterogeneity to the Armington and Krugman models without heterogeneity. We show that if firms have a...

This paper investigates the elusive role of productivity heterogeneity in new trade models in the trade and environment nexus. We contrast the Eaton-Kortum and the Melitz models with firm heterogeneity to the Armington and Krugman models without heterogeneity. We show that if firms have a...

Die anstehenden US-Präsidentschaftswahlen sind wegweisend. Sollte Donald Trump wiedergewählt werden, hat er im Bereich der Handelspolitik umfangreiche Zollerhöhungen - auch gegenüber der Europäischen Union (EU) - angedroht. Die EU hat angekündigt, im Zweifel mit eigenen Vergeltungszöllen...

The World Trade Organization (WTO) serves as a key forum for negotiating global trade rules, yet it faces significant challenges, particularly in the agricultural negotiations. The collapse of the Doha Round has left critical agricultural issues unresolved. Additionally, the WTO's dispute...

The international trading system is under threat. Many observers have already expressed serious concerns about the impact of Covid, the war in Ukraine, tensions over Taiwan and other natural and man-made disasters and their effects on the international trading system. Some even doubt its...

"The WTO Building" provides a fascinating insight into the artwork and architecture of the Centre William Rappard (CWR), home of the World Trade Organization. The book describes the origins and evolution of the CWR, highlighting the many works of art created and donated to adorn the building...

This paper studies the under-explored yet critical role of WTO's regular bodies, particularly focusing on the discussions of "trade concerns" within the Goods Council, its subsidiary bodies, as well as the General Council. These discussions are pivotal for the governance of international trade...

Until the beginning of this century, the GATT/WTO system worked. Economic research provided a compelling explanation. It showed that if governments maximize the well-being of their own countries broadly defined, GATT/WTO principles would facilitate mutually beneficial cooperation over their...

A few economists, researchers and many pundits in international business and international economics suppose that international trade has either begun to decrease or is about to decrease due to changes in the structure of the world economy. This paper rejects the empirical basis of this...

This Article contributes to the discussion about the development of international trade regulation of state interventionism by situating the tensions that exist about the future design of subsidies and state enterprises treaty regulation in the broader context of current systemic challenges to...

The General Agreements on Tariffs and Trade facilitated liberal trade of goods globally by opening up domestic markets and reducing interference of states in trade. The proposition of the GATT to some extent meant curtailing sovereign powers of the state. Countries were cognizant of the fact...