Economic research and trade policy analysis
Preference utilization in the global economy
Executive summary
The crisis in Ukraine has created a humanitarian crisis of immense proportions and has also dealt a severe blow to the global economy. The brunt of the suffering and destruction are being felt by the people of Ukraine themselves but the costs in terms of reduced trade and output are likely to be felt by people around the world through higher food and energy prices and reduced availability of goods exported by Russia and Ukraine. Poorer countries are at high risk from the war since they tend to spend a larger fraction of their incomes on food compared to richer countries. This could impact political stability.
Multilateral system: mitigating the effects of the crisis and preparing for a post-war global economy
First the war in Ukraine is impacting the whole world. As such it is not a local war with local effects only. It therefore needs to be viewed and treated in the context of global trade and development. This is likely to result in a move for reshoring near-shoring and for ‘friend-shoring’ – either making strategically important goods at home or procuring them from allies. This will have implications for global trade and development.
Way forward and policy recommendations
With regard to trade multilateral organizations can work closer together to prevent a wider decoupling in the international economy. In the 1930s the division of the world economy into rival economic blocs led neither to prosperity nor peace. That experience is at the foundation of the rules-based multilateral trading system.
The Crisis in Ukraine
This note examines the implications of the crisis in Ukraine for global trade and development. It highlights the importance of the supplies of food energy and certain industrial inputs from Russia and Ukraine and explores how the war is causing severe risks to food and energy security as well as exacerbating supply chain difficulties. Simulations from the WTO Global Trade Model indicate that global GDP and trade growth could be reduced by up to 1.3 and 2.2 percentage points respectively with effects concentrated in Europe and Africa. This note further shows that if the war were to cause a disintegration of the global economy into separate blocs the income losses would be severe especially for emerging and developing economies. This highlights the importance of the rules-based multilateral trading system not least because the WTO provides functions that can help to cushion the impact of the crisis.
Trade in Knowledge
Technological change has transformed the ways knowledge is developed and shared internationally. Accordingly in the quarter-century since the WTO was established and since its Agreement on Trade-Related Aspects of Intellectual Property Rights came into force both the knowledge dimension of trade and the functioning of the IP system have been radically transformed. The need to understand and respond to this change has placed knowledge at the centre of policy debates about economic and social development. Recognizing the need for modern analytical tools to support policymakers and analysts this publication draws together contributions from a diverse range of scholars and analysts. Together they offer a fresh understanding of what it means to trade in knowledge in today’s technological and commercial environment. The publication offers insights into the prospects for knowledge-based development and ideas for updated systems of governance that promote the creation and sharing of the benefits of knowledge.
B2B E-commerce marketplaces and MSMES
COVID-19 vs. GFC
The impact of LDC graduation on trade
Communication break down
Innovation and patenting activities of COVID-19 vaccines in WTO members
How do environmental policies affect green innovation and trade?
Avertissement
Tous les avis donnés dans le présent dictionnaire sur les Accords les dispositions et les rapports des groupes spéciaux et de l'Organe d'appel de l'OMC ou sur tout autre renseignement fourni par l'OMC relèvent de la seule responsabilité de l'auteur.
Préface
Le Dictionnaire des termes de politique commerciale en est à sa sixième édition. Il a encore grossi et compte désormais plus de 3000 entrées et renvois. Bon nombre de ces entrées sont nouvelles.