Transformational factors shaping international trade

The world economy has undergone major changes in recent years, changes that are likely to persist and that will shape trade in the years to come. They bring with them many new opportunities and challenges for societies and governments. We will look at those changes we believe to be particularly transformative. Our initial focus is on how globalization, along with rapid growth in some regions and nations, has changed our world. We shall consider how production patterns have been transformed through the rise of international value chains. We also look at two dominant policy trends with far-reaching consequences – the explosion of preferential trade agreements (PTAs) and the rise of non-tariff measures (NTMs).