Reforming the World Trade Organization: Practitioner Perspectives from China, the EU, and the US

Hoekman, Bernard M.; Wolfe, Robert

doi:10.1111/cwe.12378

Cited by 19 publications

(14 citation statements)

References 31 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…They have a big stake in a multilateral and bilateral system of rules (Hoekman and Wolfe, 2021). The relationship between the US and China is strained at the moment.…”

Section: Discussionmentioning

confidence: 99%

The Impacts of Trade Restrictions on World Agricultural Price Volatility during the COVID‐19 Pandemic

Yan

Cai

Lin

et al. 2021

China and World Economy

View full text Add to dashboard Cite

During the COVID‐19 pandemic, countries applied trade restrictions to insulate their domestic markets from the world market. However, these trade policies could have amplified international market price fluctuations. This paper explores the effects of trade restrictions on international agricultural price volatility. A theoretical model is developed to quantify how trade policies amplify the initial shock. Using panel data covering 71 countries from January 2020 to July 2021, we examine empirically the effects of trade policies on world agricultural price volatility. The results show that trade distortions further induced volatility of world agricultural prices by around 22 percent during the COVID‐19 pandemic. The multiplier effects are much more substantial in agricultural exporting countries than in importing countries. Large countries like China and the US could make significant contributions to stabilizing world prices by limiting the extent of unilateral trade policy interventions.

show abstract

“…They have a big stake in a multilateral and bilateral system of rules (Hoekman and Wolfe, 2021). The relationship between the US and China is strained at the moment.…”

Section: Discussionmentioning

confidence: 99%

The Impacts of Trade Restrictions on World Agricultural Price Volatility during the COVID‐19 Pandemic

Yan

Cai

Lin

et al. 2021

China and World Economy

View full text Add to dashboard Cite

show abstract

“…We would even argue that seen from the economic power perspective, the CBAM is part of a broader discussion on climate governance. It is about the potential need for reform of the WTO in accordance with climate policy objectives, which will require the support of 'key players' but will likely also require a revision of established rules of the game (Bacchus, 2018(Bacchus, , 2022Hoekman and Wolfe, 2021).…”

Section: The Economic Power Perspectivementioning

confidence: 99%

The EU's CBAM and Its ‘Significant Others’: Three Perspectives on the Political Fallout from Europe's Unilateral Climate Policy Initiative

Smith

Øverland

Szulecki

2023

J of Common Market Studies

View full text Add to dashboard Cite

As part of the European Green Deal, the European Commission has launched a tool to protect the fulfilment of Europe's climate policy targets – the carbon border adjustment mechanism (CBAM). It is thought that the CBAM will spark stiff resistance from Europe's external trade partners, potentially undermining the initiative. How this plays out will depend in part on who the opponents and potential allies are – and how the European Union (EU) engages with them. But which non‐EU countries have a stake in the CBAM? The criteria for selecting third countries that are relevant for the CBAM are often implicit, which can lead to contradictory policy analyses and confused climate diplomacy. This research note compares three different perspectives that result in different lists of non‐EU countries that are important for the success of the CBAM. Awareness of these three perspectives amongst EU actors can help the CBAM succeed.

show abstract

“…It is also argued that SOEs can be used to indirectly subsidize downstream industries in both domestic and export markets through below-market pricing for their goods and services (Hoekman and Sapir, 2021). In this regard the lack of specific SOE-related disciplines under the SCM Agreement, including the absence of an agreed definition, is triggering discussions not only on the alleged distortions caused by SOEs but also about the lack of transparency of their operations and their trade impacts (Hoekman and Wolfe 2021).…”

Section: Some Economies Consider Soes As An Essential Element Of Thei...mentioning

confidence: 99%

Subsidies, Trade, and International Cooperation

2023

View full text Add to dashboard Cite

Prepared by the staffs of the IMF, OECD, The World Bank, and WTO. For the IMF, the views expressed here are those of the authors and should not be construed as the views of the IMF, its Executive Board, member governments, or any other entity mentioned herein. For the OECD, the report is prepared under the responsibility of the Secretary-General of the OECD, and the opinions expressed and arguments employed herein do not necessarily reflect the official views of the Member countries of the OECD. For The World Bank, the findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. For the WTO, this work is published under the responsibility of the WTO Secretariat. The opinions expressed and arguments employed herein do not necessarily reflect the opinions or views of WTO members. This document, as well as any data and any map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The names of countries and territories used in this joint publication follow the practice of the IMF.

show abstract

Reforming the World Trade Organization: Practitioner Perspectives from China, the EU, and the US

Cited by 19 publications

References 31 publications

The Impacts of Trade Restrictions on World Agricultural Price Volatility during the COVID‐19 Pandemic

The Impacts of Trade Restrictions on World Agricultural Price Volatility during the COVID‐19 Pandemic

The EU's CBAM and Its ‘Significant Others’: Three Perspectives on the Political Fallout from Europe's Unilateral Climate Policy Initiative

Subsidies, Trade, and International Cooperation

Contact Info

Product

Resources

About