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While large, multinational corporations have supported the removal of tariffs, behind the scenes these firms have fought for protection in the form of product regulations, including testing, labeling, and registration requirements. Unlike tariffs, these regulations can raise fixed costs, excluding smaller firms from the market and shifting profits toward global giants. Narrowing the Channel demonstrates that globalization and globalized firms can paradoxically hinder rather than foster economic cooperation as larger firms seek to protect their markets through often unnecessarily strict product regulations. To illustrate the problem of regulatory protectionism, Robert Gulotty offers an in-depth analysis of contemporary rulemaking in the United States and the European Union in the areas of health, safety, and environmental standards. He shows how large firms seek regulatory schemes that disproportionately disadvantage small firms. When multinationals are embedded in the local economy, governments too have an incentive to use these regulations to shift profits back home. Today, the key challenge to governing global trade is not how much trade occurs but who is allowed to participate, and this book shows that new rules will be needed to allow governments to widen the benefits of global commerce and avoid further inequality and market concentration.
A comprehensive analysis of GATS that considers its historical context, the national preferences that shaped it, and a path to a GATS 2.0. The previous two volumes in The Regulation of International Trade analyzed the General Agreement on Tariffs and Trade (GATT), the first successful agreement to generate multilateral trade liberalization, and the World Trade Organization (WTO), for which the GATT laid the groundwork. In this third volume, Petros Mavroidis turns to the General Agreement on Trade in Services (GATS), a WTO treaty that took effect in 1995, and offers a comprehensive analysis that considers the historical context of the GATS, the national preferences that shaped it, and a path to a GATS 2.0.
February issue includes Appendix entitled Directory of United States Government periodicals and subscription publications; September issue includes List of depository libraries; June and December issues include semiannual index.