WTO and world trade : challenges in a new era : with 47 figures and 23 tables

World trade is not only an economic but also a social, political, environmental, labor and legal matter. Economists and government planners aim at finding the efficient trade policy which enhances economic welfare and growth in a more harmonious and sustainable way. This book contains 12 articles from internationally renowned experts in the field of world trade. The contributions cover a variety of pressing topics related to trade theory, trade policy, WTO and their relationship. They provide in-depth analysis of some of the trade issues currently discussed by academics and politicians, such as resource allocation, income distribution, employment, growth, technology transfer, heterogeneous markets, intra-industry trade as well as environmental issues. TOC:Introduction.- Part A: Trade Theory: Non-Drastic Technology Transfer in an International Oligopol; Income Redistribution, Trade Prices, and International Capital in Simulated Trade Models; On Two Elementary Propositions on Customs Unions; Trade with Labor Market Distortions and Heterogeneous Labor: Why Trade Can Hurt; The Impact of Intra-Industry Trade on the Environment; International Business Cycle Transmission in a Dynamic Multi-Sectoral Heckscher-Ohlin-Model.- Part B: Trade Policy: Political Support or Contributions: An Empirical Investigation of US Trade Policy; Minimum Quality Standard and International Rivalry in Quality and Price; Reforms of Quantitative Import Restrictions and Fair Wage Unemployment.- Part C: WTO: Trade Games: Modeling WTO's Role in Trade Disputes; Modelling the Impact of China's WTO Membership on Its Investment and Growth: A New Flexible Keynesian Approach; WTO Dispute Settlement in Action: An Economic Analysis of Four EU-US Mini Trade Wars