International Business Theory and Policy in the Time of COVID-19

Abstract

The international trade in the XXI century has been strongly affected by the force of the economic crisis and COVID-19. The changes are evident in the growing importance of international trade to national economies and to domestic groups within those economies, in the closer linkages between trade and other international issues. Different positions of the member states of the World Trade Organization (WTO) especially developed and developing countries and also USA, the European Union and Japan representatives were observed during the Doha Round of trade negotiations under the WTO. The problems of agriculture protection in the developed countries for example in European Union and USA and also in the developing countries, were becoming a serious obstacle during the negotiations. Despite the undeniable benefits of the multilateral WTO forum for trade liberalization, the rapid increase of North-South bilateral and multilateral Free Trade Areas (FTAs) begs a systematic explanation for why some forums are prioritized relative to others. The main aim of the article is the presentation of the international business theory and policy during the time of COVID-19. The article presents the mercantilist tendencies in the international trade policy, the theory of public choice in the foreign trade policy, protectionist pressures in different political systems, the level of protectionist pressures, food producers pressure and conflicts between the tendencies to sustainable international trade liberalization and environmental protection, the increasing importance bilateral agreements in the foreign trade policy, international economy in the time of COVID-19.

The Relationship between Service Economy and Carbon Emissions in Jiangsu Province China and the Influencing Factors

“…On the one hand, the improvement of technological level can improve the efficiency of energy use, thereby reducing carbon emissions per unit of economic output value; On the other hand, technological progress has led to increased energy efficiency, which in turn leads to economic growth, but economic growth will consume more energy and increase carbon emissions. This is the " rebound effect " produced by technological progress [13].…”

Implications Increase of Protectionism Between USA and China for International Business

“…This sort of protectionist tit-for-tat can have consequences for the economies of the warring parties, as the experience of the Great Depression illustrates [8] [34] [43]. Moreover, it can also affect third countries, especially those with close economic ties to the US and China.…”

The new protectionism between the USA and China and international trade policy amid worldwide geopolitical turbulence

“…This sort of protectionist tit-for-tat can have consequences for the economies of the warring parties, as the experience of the Great Depression illustrates (eichergreen and irwin, 2010;Puślecki, 2019a;Puślecki, 2019b). Moreover, it can also affect third countries, especially those with close economic ties to the us and china.…”