You searched for: Content Type Commentary and Analysis Remove constraint Content Type: Commentary and Analysis Publishing Institution Institute for Development and Peace Remove constraint Publishing Institution: Institute for Development and Peace Political Geography Global Focus Remove constraint Political Geography: Global Focus Topic International Cooperation Remove constraint Topic: International Cooperation
- Author: Peter Draper
- Publication Date: 02-2020
- Content Type: Commentary and Analysis
- Institution: Institute for Development and Peace
- Abstract: International trade cooperation has been under growing strains since at least the turn of the twenty-first century. Forces promoting global trade integration were in the ascendancy for most of the first decade. They were anchored on com- plex production specialisation mediated through cross-border value chains, underpinned by con- sumer demand for a variety of cost-effective prod- ucts, and cemented through regional and bilateral trade agreements. However, since 2008, succes- sive shocks unleashed cumulative disintegrative forces that counter-balanced and now threaten to overwhelm the forces of integration. These com- prise rising nationalism, associated desires for sovereignty, growing concerns over uneven distri- bution of the benefits of economic globalisation, shifting international power balances and associ- ated security concerns. These disintegrative forces threaten to unravel the World Trade Organization (WTO). COVID-19 mostly accelerates this trajec- tory, rendering WTO reform and restoration to its central role at the apex of the global trading sys- tem increasingly challenging. But all is not lost, as the forces of global trade integration have not dissipated and every crisis also presents reform opportunities.
- Topic: International Cooperation, International Trade and Finance, World Trade Organization, Public Health, Pandemic, COVID-19
- Political Geography: Global Focus