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This publication is structured into two parts. The first part presents a short-term overview of the status of international trade using preliminary statistics on merchandise trade up to the third quarter of 2020. The second part provides illustrative statistics on international trade in goods and services covering the medium term. The second part is divided into two sections. Section 1 provides trade statistics at various levels of aggregation illustrating the evolution of trade across economic sectors and geographic regions. Section 2 presents some of the most used trade indicators at the country level, to illustrate trade performance across countries.
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
This series contains the decisions of the Court in both the English and French texts.
This book is a comprehensive, up-to-date Casebook covering both US domestic law and the international law and institutions of international trade with full coverage of trade in goods, services, technology trade, and foreign direct investment. Thanks to its manageable size, problem-based presentation, and accessible writing style, International Trade Law is one of the most comprehensive and student-friendly trade law texts on the market. With more than 70 principal cases, it is the only international trade casebook that systematically covers all GATT articles and WTO side agreements, and offers clear explanations of how WTO obligations are implemented in the U.S. and the EU. New to the Fourth Edition: Takes fully into account the tumultuous changes in international trade during the Trump and Biden administrations. Emphasis is on US domestic trade law, including protection of national security, section 301 of the Trade Act of 1974, and Safeguard. Full coverage of the US-Mexico-Canada Trade Agreement that became effective in 2020. Full coverage of US customs law, export controls, and US remedies for unfair trade, dumping and subsidies. Full coverage of the US-China trade war. Coverage of World Trade Organization trade agreements such as the General Agreement on Tariffs and Trade (GATT) as well as GATT and WTO jurisprudence. Clear explanation of international trade economics. Covers not only trade in goods but also additional channels of trade, including services, foreign direct investment, and technology trade and intellectual property. Treatment of the relationship between trade and civil society issues such as labor and the environment. Manageable size, about 800 pages, yet comprehensive in scope. Professors and students will benefit from: Comprehensive, but concise coverage of WTO law and US free trade Agreements Coverage of all WTO agreements More than 70 principal trade cases and pithy and concise notes
This book analyses India’s trade policy evolution in the last two decades in the broad context of trends and patterns in global trade and in particular, with reference to the emergence of global value chains (GVCs). Through an in-depth analysis of its trade policy evolution in the 2000s, the author explains India’s limited share of global merchandise trade, especially manufacturing trade and relatively low GVC integration. The book discusses India’s trade policy, pattern and global trade participation not just in the comparative context of China as is true of most analyses relating to the Indian economy, economic reforms and trade liberalization in India but also in the context of regional economies like Vietnam, Thailand, Malaysia, Bangladesh and other emerging market economies (EMEs) that have successfully integrated with GVCs/ RVCs in the period under reference. Progress and nature of India’s value chain participation relative to other economies has been evaluated in this context. The book further examines policy developments with respect to traditional trade measures like tariffs and export schemes, trade and GVC related policies in special economic zones (SEZs) as well as GVC-facilitating policy instruments such as regional/ free trading agreements (RTAs/FTAs) and investment treaties. Three sectoral case studies - automobiles, textiles and apparel and electronics - are presented to examine India’s participation in these dynamic GVC intensive sectors. An important study of one of the fastest growing economies in the world for almost two decades, this book will be of substantial interest to academics and policymakers in the fields of Economics, International Economics, Foreign Policy, Economic Relations, Economic Diplomacy, Indian- Southeast/East Asian Economics.
This book, the first of its kind, brings together leading scholars from multiple perspectives in a serious dialogue about continuity and change in global media production and content. Looking at a wide swath of the world, these authors show the emergence of transnational collaboration in global television and film production across national borders that seem to transcend national cultures and identities. At the same time, traditional class analysis of such phenomena is reframed within the rise of myriad social movements for equality, democracy, human rights, and defense of the environment. What are the effects of media, local or global? Does the West continue to dominate or is cultural imperialism waning? With original chapters written by leading scholars from a variety of disciplines, this book will appeal to students and scholars interested in global media communication, cultural studies, and international political economy.
The Europe Union's massive efforts to rebuild after the coronavirus pandemic present a unique opportunity to transform its economy, making it more green and digital – and ultimately more competitive. The Investment Report 2020-2021 looks at the toll the pandemic took on European firms' investment and future plans, as well as their efforts to meet the demands of climate change and the digital revolution. The report's analysis is based on a unique set of databases and data from a survey of 12 500 firms conducted in the summer of 2020, in the midst of the COVID-19 crisis. While providing a snapshot of the heavy toll the pandemic took on some forms of investment, the report also offers hope by pointing out the economic areas in which Europe remains strong, such as technologies that combine green and digital innovation.