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This book explores the dilemmas posed by globalisation in various aspects of law. It covers diverse themes, ranging from the impact of different legislative measures, bilateral and regional agreements in the context of trade, investment and mobility of labour, to concerns about sustainability, equity, regional balance and social security in the light of globalisation. Although it focuses mainly on India and the European Union, the issues raised and challenges discussed are of a general nature, and as such relevant in the broader context. The chapters address contemporary problems in trade, investment and labour mobility, which have emerged through the complex interaction of market, state policies and socio-environmental concerns, and are expressed on national and global platforms in the context of evolving legal system. The book is a valuable resource for students, researchers and academics engaged in comparative legal studies, particularly those interested in studying the interplay of globalisation with various areas and aspects of law at national as well as international levels. It also appeals to anyone interested in law and policy studies.
The 2030 Agenda for Sustainable Development defines international trade as "an engine for inclusive economic growth and poverty reduction, [that] contributes to the promotion of sustainable development".
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 Sustainable Development Goals (SDGs), adopted in 2015, are expected to chart a course for development over the next 15 years. The 17 SDGs cover poverty, health, sustainable development, and the environment, among others, but not trade. This book shows that international trade can contribute to achieving all SDGs. It maps out a triple-win scenario where good trade policy (i) spurs international trade, (ii) contributes to development, and (iii) helps achieve the SDGs.
Winner of the Nobel Prize in Economics and author of the New York Times bestselling book Globalization and Its Discontents, Joseph E. Stiglitz here joins with fellow economist Andrew Charlton to offer a challenging and controversial argument about how globalization can actually help Third World countries to develop and prosper. In Fair Trade For All, Stiglitz and Charlton address one of the key issues facing world leaders today--how can the poorer countries of the world be helped to help themselves through freer, fairer trade? To answer this question, the authors put forward a radical and realistic new model for managing trading relationships between the richest and the poorest countries. Their approach is designed to open up markets in the interests of all nations and not just the most powerful economies, to ensure that trade promotes development, and to minimize the costs of adjustments. The book illuminates the reforms and principles upon which a successful settlement must be based. Vividly written, highly topical, and packed with insightful analyses, Fair Trade For All offers a radical new solution to the problems of world trade. It is a must read for anyone interested in globalization and development in the Third World.
The contemporary orthodox view of world trade has centred, generally unchallenged, on the ideas of free trade, based on the theoretical construct of comparative advantage. This book will engage in a critique of the orthodox position based on the underlying theoretical economic construct, the historical development of the now developed economies and the morally unsustainable position of the free-trade regime. The author examines alternatives such as Most Favoured Nation and Preferential Trading Agreements before making the argument in favour of Asymmetric Trading, where the underdeveloped economies can develop behind tariff barriers and quotas, whilst the triadic nations maintain a lack of barriers to the exports of these economies. He outlines how such a trading regime would be mutually beneficial in the long term, in the sense that development through industrialisation takes place and the increase in GDP per capita would allow markets for exports to be sustainable, thus widening the market for the goods and services of the developed economies. However, the author demonstrates that free trade actually increases the development gap by maintaining the status quo in terms of the underdeveloped economies specialising in and exporting low value-added primary products and importing high value-added manufactures. The book analyses contemporary and historical data to illustrate how an alternative trading regime can be truly advantageous to both the developed and underdeveloped regions of the world: a global trading regime that is capable of increasing GDP in a sustainable manner without transferring a surplus from the poor to the rich nations and without a long-term commitment on the part of the developed nations to altruism.
In general, a reduction in trade barriers will affect the environment by expanding the scale of economic activity, by altering the composition of economic activity and by initiating a change in the techniques of production. We present empirical evidence to assess the relative magnitudes of these three effects as they apply to further trade liberalization in Mexico. We first use comparable measures of three air pollutants in a cross-section of urban areas located in 42 countries to study the relationship between air quality and economic growth. We find for two pollutants (sulphur dioxide and 'smoke') that concentrations increase with per capita GDP at low levels of national income, but decrease with GDP growth at higher levels of income. We then study the determinants of the industry pattern of US imports from Mexico and of value added by Mexico's maquiladora sector. We investigate whether the size of pollution abatement costs in US industry influences the pattern of international trade and investment. Finally, we use the results from a computable general equilibrium model to study the likely compositional effect of a North American Free Trade Agreement (NAFTA) on pollution in Mexico.
Sustainable Economic Development: Resources, Environment, and Institutions presents 25 articles that lay the foundations of sustainable development in a way that facilitates effective policy design. The editors mix broad thematic papers with focused micro-papers, balancing theories with policy designs.The book begins with two sections on sustainable development principles and practice and on specific settings where sustainable development is practiced. Two more sections illuminate institutions, governance, and political economy. Additional sections cover sustainable development and agriculture, and risk and economic security, including disaster management. This rich source of information should appeal to any institution involved in development work, and to development practitioners grappling with an array of difficult on-the-ground developmental challenges. - Analyzes policies that move markets and resource use patterns towards achieving sustainability - Articles are kaleidoscopic in scope and creativity - Authors embody extraordinary diversity and qualifications
Inclusive Green Growth: The Pathway to Sustainable Development makes the case that greening growth is necessary, efficient, and affordable. Yet spurring growth without ensuring equity will thwart efforts to reduce poverty and improve access to health, education, and infrastructure services.
This book presents an overview of the key debates that took place during the Economic and Social Council meetings at the 2007 High-level Segment, at which ECOSOC organized its first biennial Development Cooperation Forum. The discussions also revolved around the theme of the second Annual Ministerial Review, "Implementing the internationally agreed goals and commitments in regard to sustainable development."--P. 4 of cover.