Global value chains which have spread across the world economy require a strong global institutional framework to address new challenges and further trade liberalisation going far beyond tariff reduction with services, investment and regulatory issues gaining on importance. The revealed greater...

The global crisis has taken its toll on the EU’s prime position in international trade. While the EU still has the largest relative market shares, its position has deteriorated since the crisis, much more so than the US, and its comparative advantage in knowledge-intensive goods has been...