Is WTO Reform Necessary?
When the General Agreement on Tariffs and Trade (GATT) was first agreed by 23 original contracting parties in 1947, there were no guarantees that the rules would endure. Today, WTO membership stands at 164 countries -- representing collectively, more than 98 percent of global trade. But for an institution to endure, it must remain relevant.
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Trump-Xi Meeting on US-China Trade War: Five Possible Outcomes
The meeting between President Donald Trump and President Xi Jinping in Argentina in late November may prove to be a turning point for not only for the US-China relationship, but for global trade. Both leaders enter these discussions knowing the far more important question is whether there can be a sustainable co-existence between a Western market-driven economy with democratic ideals and a centrally-managed Chinese economy led by the Communist Party of China.
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With His China Trade War, Trump Aims to Alter the Course of History
Trade wars, like real wars, are costly. But people are willing to sacrifice — at least up to a point — when they believe a cause is worth fighting for. Doing nothing in response to China’s policies would have cost nothing in the short run. But if the concerns raised by China’s policies are legitimate, doing nothing to fix them now will cost more to fix over time — if they remain fixable at all.
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Why Does Everyone Hate Made in China 2025?
Made in China 2025 calls for achieving “self-sufficiency” through technology substitution while becoming a “manufacturing superpower” that dominates the global market in critical high-tech industries. That could be a problem for countries that rely on exporting high-tech products or the global supply chain for high-tech components.
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Investor-State Dispute Settlement Faces Hurdles on the Road Ahead
The United States has a long history of advancing the rules-based order and, as a practical matter, has never lost a dispute arising from one of its many investment agreements. But investor-state dispute settlement procedures may not have a future.
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Retaliation: Why Raising Tariffs Becomes a Food Fight
Although the steel and aluminum tariffs are promoted by the Trump administration as a strategy to seek fairness for those industries, the tariffs will incite retaliation by trading partners, imposing significant costs on large numbers of U.S. producers and consumers who have nothing to do with these industries' grievances.
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Investor-State Dispute Settlement: Who Uses It?
With over 2,500 international investment agreements in force and only a total of 817 known investor-state dispute settlement arbitrations, it's safe to say that the majority of these agreements have operated without a single dispute.
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Mapping Investment Agreements
International investment agreements have been a remarkably successful policy innovation: today, there are over 3,000 of them in force worldwide.
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The Millennial-Aged Trade Dispute That Could Affect Your Sparkling Water
If you're a millennial like me, odds are your refrigerator and recycling bin are currently jammed full of colorful cans and bottles of sparkling water. But an ongoing trade dispute about beef could directly affecting the choice of sparkling water available on your grocery store shelves.
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Investor-State Dispute Settlement: What Accounts for the “Special” Process?
Trade rules typically cover a category of goods or services and affect all firms engaged in trade. Investment disputes, on the other hand, are usually about a state's treatment of an individual enterprise.
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