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This paper considers China's economic development and place in the world economy. The People's Republic of China is becoming the most powerful country in the world in terms of GDP. Nowadays, China is an important partner in world trade both as an exporter and importer. Thus far, the United States has been the leading force in managing and coordinating the global economic and especially financial system, but now the economically advancing socialist China is a challenge to the USA. The Chinese model, socialism with Chinese characteristics, is discussed and compared with earlier stages of socialist construction, e.g. the NEP experiment of Soviet Union. The paper ends with notes about environmental and ecological problems, stressing the importance of socialist answers to these challenges. In this regard there are encouraging aspects in the current political program of the Chinese leadership. [ABSTRACT FROM AUTHOR]

The article presents the "White Paper on International Economy and Trade 2006," in Japan. Structural changes to which the country must adapt includes globalization, a rising Asia and an aging society. Strategies must be taken to deal with such changes and ensure sustainable economic growth. An index is needed to measure the levels of economic prosperity.

Examines the international economy and trade in 2005. Risk of economic growth of China; Potential for growth of growing countries, including Brazil; Background on global economic imbalances.

This paper aims to investigate how China is handling national security and wheat production amid international sanctions in 2022. The study employs the Food Security Theory and Supply Chain Theory, utilizing qualitative research methods for a comprehensive analysis. The research concludes that the significant diplomatic tension between Russia and Ukraine on February 24, 2022, has economic implications for both countries. China's main goal is to maintain stability and economic growth. The Ukraine- Russia relationship is marked by instability in the global market, with the Ukraine-Russia trade deficit causing tension. China's desire to diversify and increase trade with Russia will help China diversify its trade with other countries, resulting in a larger global trade surplus. Wheat is a significant food in China, with a wide range of products and inputs. The consumption of wheat in China has led to increased domestic consumption, influencing the country's economy. [ABSTRACT FROM AUTHOR]

Abstract: This paper reflects on the career contributions of Professor Chris Milner to the literature on international trade and economic development. As such, it not only provides an overview of a life's work, but also sets the context for the nine papers which follow. All of these were specially written for this Special Issue of The World Economy, and all relate to different areas that Professor Milner worked in. [ABSTRACT FROM AUTHOR]

In the last decades, the academic debate on the origins of the economic gap between nations divided deeply historians, sociologists and economists as well. Dependencia theorists pointed exogenous causes for Latin American backwardness while the revisionists emphasized endogenous causes. Finished the Cold War and faced with new evidence, previous conclusions are far from being complete and final. There are different issues, which were superficially investigated, or they were sometimes entirely neglected. With the intention of transcending the two opposing currents of thought the present paper aims to synthetize all the accessible and collected data up today in Romania in order to analyze the impact of the markets' integration in the nineteenth century. On one hand, the Romanian nineteenth century economy is a fertile field for study, because it transferred neither slowly nor quickly from a "world economy" to another, which permitted a short relatively autonomous development. On other hand, even Romania was object to various studies in developmental economics, the foreign researchers did not access important evidence, which can change the conclusions on the main topic. The paper will present the economic and social parameters outlined in early 1800 and how these will evolve at the pressure of the Western markets. It will also point that the markets' integration generated two major trends as long-term tendencies: the increase of land price and the increase of the rate of interest. Both were impediment to a faster development of the Romanian society and in connection with other elements like the dysfunctionality of the state they will form a vicious circle of slow development. [ABSTRACT FROM AUTHOR]

In a distinguished career spanning more than four decades, Jagdish Bhagwati has made numerous contributions to both trade theory and trade policy analysis. The current paper focuses on Bhagwati's major contribution to the ongoing debate surrounding the influence of trade liberalisation upon economic development and its potential to alleviate poverty in the world's poorest economies. In order to highlight Bhagwati's contributions in these fields we focus on the arguments developed in two of his numerous landmark publications; first his seminal 1964 paper on the Pure Theory of International Trade and, second, his 2004 book entitled In Defense of Globalization. Although separated in time by some four decades we argue that these two publications, despite their very different characters, each demonstrate beyond doubt the significance of Bhagwati's work in improving our understanding of the true nature of international trade and its potential to address questions of global poverty. [ABSTRACT FROM AUTHOR]

The possibility of the UK's withdrawal from the European Union has never been more realistic and upto- date since joining the European Communities (EC) as it is today. The UK is facing a unique situation. At present, this depends solely on the capabilities of European and British government officials, who negotiate the terms of withdrawal and future cooperation between the two entities. The main goal of this paper is based on the British - Slovak trade relations development analysis to figure out their impact within the Brexit consequences on the future Slovak economy and its current status in international economic relations. The paper also provides a basic overview of Brexit process and its possible impact on the EU's further functioning. Basic data will be drawn from generally accepted institutions, evaluating the UK and Slovak trade and economic performance. To accomplish this goal, methods such as analysis and comparison to illustrate the UK-Slovak foreign trade development, synthesis and logical deduction to discuss the Brexit impact on Slovak economic environment in the future are to be used; data from scientific and professional publications, periodical and non-periodical press. The paper presents the results of an empirical analysis, which showed that because of the size of economic relations between Slovakia and the United Kingdom and the number of goods and services being exported to the UK, the «hard» Brexit will be very unfavourable for Slovak foreign trade due to the possible tariffs being imposed. The research empirically confirms and theoretically proves that it can cause a significant weakening and slowdown in the Slovak economy. Either way, the upcoming Brexit process, that is the withdrawal of Great Britain from the European Union, would have a major impact not only on British, European but also on the world economy. The impact of Brexit on Slovakia's economy will not only be in reducing the possible growth of the economy, but also in employment and price increases. [ABSTRACT FROM AUTHOR]

The object of research is the methodology for assessing the level of economic security of the state from the standpoint of analyzing its foreign trade. The perception of the economic security of countries is not yet unambiguous; it is important to study the theoretical foundations of economic security. In the works of the predecessors, the hierarchy of the concept of economic security was determined and the concept of the economic security of the state was proposed. But most research is not comprehensive enough. The components of the country’s economic security are determined through three groups of risks, but such a division does not take into account most of the threats and is not sufficiently detailed and comprehensive. In the scientific works of economists, the methodology, level, indicators are presented as separate aspects of the formation and management of the economic security of the state. Without denying the significant contribution of these developments, the study noted the lack of a unified methodology for assessing the level of economic security of the country. Accordingly, this study was aimed at presenting a conceptual approach to the methodology for assessing the level of economic security of the country, based on the study of international trade and the main statistical indicators of the economy. The study of the level of economic security of the country is based on the use of indicators built on indicators of the state of the country’s economy and its international trade. The paper studies the dynamics of the main socio-economic indicators of the development of the economies of the associated trio of countries: Georgia, Moldova and Ukraine. And also the state of economic security of countries and prospects for further development are determined. It has been established that Ukraine in the pre-war period had a better level of economic security than Georgia and Moldova. [ABSTRACT FROM AUTHOR]

Copyright of Strategic Review / Przeglad Strategiczny is the property of Faculty of Political Science & Journalism, Adam Mickiewicz University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Using the traditional gravity model, this paper aims to analyze the determinants of Turkish exports to 43 Islamic Development Bank member countries for the period from 1996 to 2015. The paper specifically investigates the effects of 12 political risk measures (bureaucracy quality, corruption, democratic accountability, government stability, internal and external conflict, investment profile, law and order, military in politics, religious and ethnic tensions, and socioeconomic conditions) in the importing countries on the total volume of exports of Turkey. After implementing various robustness checks, the paper finds that the government instability in the importing countries is negatively associated with the Turkish exports. [ABSTRACT FROM AUTHOR]

This paper aims to provide an overview of the position of the developing countries in the international trade system and discussion about perspectives of their trade development. The main hypothesis of the paper is that developing countries as a group have made a breakthrough in the world trade in the past two decades, but genuine improvement has been made and enjoyed by several large developing countries, primarily China. The paper elaborates mostly by use of methods of analysis and synthesis, based on the extensive processing of trade data, as well as relevant literature. In this context, the paper provides evidence about trade liberalisation of the developing countries since 1980s to the present time, intense export growth of the developing countries over the period, as well as change of the trade structure of the developing countries with developed countries, evident through rising share of the medium and high skills and technology based products. In purpose of provision of more realistic assessment of the position of the developing countries in the international trade system, special attention has been put on China's trade performances, given the rapid increase of China's share in the world trade from less than 1 per cent in 1980 to over 10 per cent in 2011. The major findings of the paper confirm that improvement of the overall position of the developing countries in the international trade system has mainly resulted from the improvement of the trade position of several countries, primarily China. The paper also provides overview on WTO simulations about international trade prospects up to 2035, which confirm further dependence on the trade position of the developing countries as a group from China's trade accomplishments. In this perspective, the paper argues that there is a need for differentiated treatment and provision of extra flexibilities for the other developing countries in purpose of achieving as genuine improvement in their trade position. [ABSTRACT FROM AUTHOR]

Objective: This paper is an attempt to examine protectionist practices, illustrated using the example of the United States, as a means of establishing equilibrium in the trade and current account balance, especially under competitive conditions in pursuit of economic and world leadership. Research Design & Methods: The research offers conclusions based on an analysis of the literature on the effectiveness of protectionist practices in economic relationships between countries and presents the reasons for the widening trade and current account imbalances. It also describes the results of a simulation on the implementation of punitive tariffs (by both parties) achieved using numerical models. Findings: Protectionist practices are ineffective instruments for handling trade deficits. Moreover, they undermine international trade principles, lead to conflicts between the countries, and instigate symmetric retaliatory actions. Implications/Recommendations: Apart from the overall ineffectiveness of protectionist practices in terms of optimising the trade and current account balance, there are adverse implications which may be beneficial to certain domestic groups of stakeholders while, on the international level, protectionist practices signify an attempt to weaken the position of other competitors in pursuit of world leadership. Contribution: The paper shows that protectionist practices pursued by countries are ineffective instruments for handling trade deficits. Their application restricts technology transfer, deflates the efficiency and effectiveness of an economy and reduces welfare. Building actual civilisational and economic supremacy requires economic development in the real economy and cannot be achieved by administrative means. [ABSTRACT FROM AUTHOR]

China's growing presence in Africa is not news: the expansion of bilateral trade and investment ties has garnered intense media and political focus over the past decade. However, less is known about the people accompanying these increasingly intensive flows of goods and capital. This paper focuses on Zambia, drawing on multiple primary datasets to shed light on both the scale and nature of Chinese migration to the continent. Two years of Department of Immigration employment-permit data serve as the basis for the first quantitative analysis of the "Chinese" in "Africa," illuminating the increasing diversity of this population flow. While the growing Chinese presence in Africa is often viewed as a coherent neocolonialist strategy planned and implemented by the Chinese state, this paper demonstrates that it is in fact typified by a multitude of both public and private actors with independent motives. [ABSTRACT FROM AUTHOR]

Chinese economic engagement with the rest of the world has risen dramatically in the past two decades. While the majority of this activity is concentrated in large investments and massive two-way trade with the United States and Europe, many analysts are wary of the disproportionate influence that China's opaque policies might have on the development of smaller, more vulnerable economies, particularly the economies of sub-Saharan Africa. This paper cuts through an abundance of conjecture on China in Africa to address two of the most basic and pressing questions regarding Sino-African economic relations: What is the level of Chinese economic engagement with African countries? And how does this engagement affect these economies? To answer these questions, a self-designed Economic Engagement Metric (EEM) is applied to the three case studies of Ghana, Cote d'Ivoire, and Cameroon to assess both China's level of engagement in these countries and the resulting positive or negative effects of that engagement. The paper concludes that Chinese activity in West Africa, when compared to US engagement, is both broad and deep. Furthermore, while Chinese economic engagement patterns can be alarming to Western observers, China has nonetheless benefitted these three countries' economies on the whole. [ABSTRACT FROM AUTHOR]

Copyright of Research Papers of the Wroclaw University of Economics / Prace Naukowe Uniwersytetu Ekonomicznego we Wroclawiu is the property of Uniwersytet Ekonomiczny we Wroclawiu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this paper is to examine the dramatically changed role of Russia in the global economy since the dissolution of the Soviet Union in 1991, as the Soviet institutions collapsed and were either reformed or replaced in a new Russian institutional landscape. The paper presents a fact-based and balanced view of Russia's evolving role in the global economy, as distinguished from the sometimes one-sided view presented by some Western commentators. The authors establish that the two countervailing views are fundamentally based on different cultural perspectives about institutions, primarily the roles of business and government. Design/methodology/approach: This paper is developed as a perspectives article drawing upon the decades of academic and business experience of all three authors with Russian business, management and the economy. The paper focuses on the structure of Russian institutional change and places it within the historical context of the challenges of various periods of time from the late 1980s to the present. The authors posit that cultural foundations complicate that institutional evolution. Findings: Russia will remain a major player in world markets for energy, raw materials and armaments for the near future at least. Principal institutional questions facing Russia have to do with how to reduce the country's overall dependence on raw material exports, with its vulnerability to world market fluctuations, and how to modernize Russian economic and political institutions. The degree of success in addressing these questions will depend largely upon the ability of the new and reformed economic institutions to show the flexibility to respond to changes in the global order, on whether political considerations will continue to supersede economic issues, and how markedly cultural traditions will continue to impede positive changes. Research limitations/implications: The entire system of international trade is under question, disrupted by the growing nationalism that is threatening the globalization that became institutionalized over decades in the wake of the Second World War. Russia's future role is partially dependent upon how new patterns of international trade develop in response to the current disruption of established trade regimes, and by how political conflicts are expressed economically. The authors observe that Russia's historical and cultural traditions, especially acquiescence to a highly centralized government with a strong autocratic leader, limit the country's options. The authors explore how Russia's reactions to Western sanctions have led to a new strategic approach, moving away from full engagement in the global economy to selective economic, and sometimes political, alliances with primarily non-Western countries, most notably China. The authors contrast Russia's situation with that of China, which has been able to make substantial economic progress while still embracing a strong, centralized political institutional structure. Originality/value: Many Western analysts have viewed Russian institutional evolution very critically through the lens of Western politics and sanctions, while Russia has continued along its own path of economic and institutional development. Each view, the authors argue, is based upon differing cultural perspectives of the roles of business and government. As a result, a distinct difference exists between the Western and Russian perspectives on Russia's role in the world. This paper presents both points of view and explores the future of Russia's position in the world economy based upon its evolving strategy for national economic policy. The authors contrast the situations of Russia and China, highlighting how Western-centric cultural views have affected perceptions of each country, sometimes similarly and at times with decided differences. [ABSTRACT FROM AUTHOR]

Since the 1980s, China has experienced very high economic growth, and its share in global trade has increased rapidly. Currently, however, the Chinese economy is rebalancing, and its growth is slowing. This paper investigates the spillover effects on other countries of a negative demand shock and negative stock price shock in the Chinese economy. We apply a global vector autoregressive model, which enables us to model international linkages between countries. Our results show that a one per cent negative China GDP shock reduces global growth by 0.22% in the short run. We find that GDP shock affects emerging economies more strongly than advanced economies. We also show that a stock price shock affects only emerging economies and does not affect advanced economies. [ABSTRACT FROM AUTHOR]

What is the agenda of the Brazil, Russia, India, China and South Africa (BRICS) platform? And what is its potential for transforming global governance towards one that works for all, especially in the developing world? In response to these questions, this paper suggests that we place BRICS within the context of debates in the global South about global alternatives, including critical perspectives on globalisation, which is the context that shapes our perspective on global governance. The paper uses a decolonial analytic lens, which privileges historical continuity and structural-agency analysis, to identify key nodes of the South ideal for alternative globalisation to guide our analysis in response to the question: Does BRICS have the potential to contribute to transforming the system of global governance? After suggesting ways of understanding the problems of global governance and globalisation, the paper presents four critical steps towards a new global governance system that BRICS might consider in catalysing the global reforms expected. [ABSTRACT FROM AUTHOR]

The process of globalization is a logical process of internationalization, caused by deregulation and liberalization, as well as the development of information and communication technologies. To perform an isolationist policy today is completely absurd. Therefore, the main goal of each national economy is to be engaged in international trade while retaining sovereignty and achieving sustainable development, and this is only possible if we realize that not all economic activities are qualitatively the same as the drivers of economic development, and that globalization and free trade can create an automatic economic harmony. Countries that specialize in the export of raw materials will sooner or later experience the opposite effect from economies of scale, namely declining yields. Sustainable development today is a kind of monopoly on the production of advanced goods and services, in which rich countries experience one explosion of productivity for another. In the first part of the paper, we analyze the effects that abstract theories of classical liberal economies have on the poor countries, as well as the neoliberal policies that the World Bank, the International Monetary Fund and the World Trade Organization today apply to developing countries. In the second part of the paper, we analyze examples of countries whose economic prosperity is the result of a smart and pragmatic mix of market incentives and governance. In the third part of the paper we give recommendations for the new development and trade policy of Serbia. In the last part of the paper, we point to the importance of branding as a factor in the export competitiveness of the company. [ABSTRACT FROM AUTHOR]

Purpose--In 2018, Kim Jong Un shifted his party's strategic line from parallel military and economic development to solely economic development, yet direct cooperation with South Korea, the United States and Japan will be difficult. This paper examines Singapore's role as venue for the Kim- Trump Summit, its history of engagement of the DPRK and prospects in the near to medium term. Methodology--This paper reviews the literature on Singapore's unique history, political culture and exceptional economic development trajectory, as well as its relations with the DPRK and other less developed countries in the region. It then analyses North Korea's new strategic line and Kim Jong Un's use of Singapore both in outreach to the United States and towards his own citizens. Findings--Singapore's position as neutral, friendly with all key stakeholders, including Pyongyang, combined with its history of capacity building, economic devel - opment and independence make it a unique venue. Should the decision be taken in Pyongyang to further explore economic reform, Singapore will be exceptionally useful as a platform for discussions, training, dealmaking and other exchanges. Value--This paper fits into a decade of work by the author utilizing Singapore as a platform from which to engage the DPRK at a time when Kim Jong Un and the peace process have redoubled interest in the North Korean economy and when Singapore's profile is extremely high, due to the U.S.-DPRK summit. [ABSTRACT FROM AUTHOR]

Recent years have seen a sharp growth in the number of regional agreements both concluded and under negotiation. This paper attempts to document and discuss this growth focusing on US, EU, Chinese, Indian and other agreements. The form, coverage and content of these agreements vary considerably from case to case. The paper asks why so many, why the variation in form, and why the recent acceleration. Implications for the trading system are discussed in a final section. [ABSTRACT FROM AUTHOR]

This paper examines the dynamic implications of international trade in a two-sector overlapping-generations economy with endogenous growth. It analyses the global dynamics of this model for both a closed economy and a two-country world economy. It shows how international trade can cause the world economy to sort itself out into groups of fast and slow-growing economies and can also cause one country to catch up and overtake another's growth rate. U thus provides theoretical support for empirical papers which find that the world distribution of income is diverging. [ABSTRACT FROM AUTHOR]

The aim of this paper is to determine Iceland's foreign policy options in relation to shelter theory. Iceland has been seeking political and economic shelter ever since the United States deserted it in 2006, by closing its military base, and in 2008, by refusing to provide it with assistance following its economic collapse. Iceland has made several new security and defence arrangements with its neighbouring states, applied for membership of the European Union and was the first European country to make a free-trade agreement with China. Moreover, the president of Iceland pressed for closer political and economic ties with Russia. Prominent Icelandic politicians frequently claim that Brexit will create a number of opportunities for Iceland and lead to closer cooperation with Britain. However, Iceland has not yet secured shelter of an extent comparable to what it had enjoyed from the United States. In this paper, we will answer questions such as: What does shelter theory tell us about Iceland's overseas relations with the US, NATO, the EU, Britain, Russia, China, and the Nordic states? Will Iceland receive more reliable shelter provided by multilateral organizations than by a single shelter provider? [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to deploy an export dependency index to identify the sectors and countries in Latin America which are most exposed to fluctuations in Chinese demand. Bilateral trade between China and Latin America has grown very quickly in the past decade. As a consequence, economic relationships with Latin America intensified tremendously, as growing demand for resources drove China into relatively unexplored frontiers.Design/methodology/approach The Index measures the relative exposure of Latin American exporters to shifts in demand from China and is scaled from 0 to 1 (the higher the score, the more exposed an exporter is to disruptions of trade with China). The authors undertook the analysis using six-digit trade figures from the United Nations COMTRADE database (Harmonized System 2007 nomenclature) to ensure granularity and consistency and contrasted their results across two points in time, 2008 and 2014. The analysis was very comprehensive, covering the products that accounted for 80 per cent or more of all exports to China in 2014, for all countries in Latin America and the Caribbean.Findings According to our estimates, dependency on China increased overboard across Latin America for all countries and all sectors between 2008 and 2014. Absolute dependency levels were highest in Costa Rica, Colombia, Uruguay, Venezuela, Brazil, Panama, Peru, Chile, Guyana and Argentina. Of these, the largest exporters to China, namely, Brazil, Argentina, Chile, Peru, Colombia and Venezuela, featured high dependencies concentrated around just four commodities: soy in the form of soybeans and soybean oil; crude oil; copper in the form of copper ore, copper cathodes and unrefined copper; and iron ore. These four commodities accounted for 80 per cent of the regions’ total exports to China.Originality/value This is one of few studies that look into Latin America’s commodity export dependency on China at such granular level. [ABSTRACT FROM AUTHOR]

Anderson and vanWincoop developed what has become the standard framework for framing and interpreting empirical work using the gravity model. Their framework relies heavily on an assumption of symmetry among countries. For issues related to North-South trade, this assumption is problematic. In this paper, we develop an asymmetric extension of the Anderson-vanWincoop framework appropriate to the analysis of North-South trade, where Northern countries produce differentiated goods and Southern countries homogenous ones. In addition, we use an appropriately extended version of Baier and Bergtrand and Taylor linear expansion - thus permitting its estimation using (good old) OLS. The result is an empirical model that (i) is better suited to the analysis of North-South trade, (ii) is easy to estimate and compute comparative statics, not requiring a customised NLS routine and, given the way the South is included, (iii) provides a simple explanation of zero trade flows between some country pairs, a fact still not fully explained in the literature. As an illustration of its use, we examine the empirical link between foreign aid and trade. [ABSTRACT FROM AUTHOR]

Based on data for actual and approved Foreign Direct Investment (FDI) from 1989-2011, this paper explores the major trends in FDI in Myanmar, focusing on changes over time in the source and sector of investment. It argues that over the last decade Myanmar's inward FDI has become heavily concentrated in the extractive and power sectors, while investment in manufacturing, services and other secondary and tertiary sectors has been almost non-existent. This is mostly the result of a poor investment climate, including import and export regulations, a weak judicial system, currency controls and weak property rights. The paper shows that China, Hong Kong, South Korea and Thailand have been the main investors in Myanmar, while Singapore, India and Western countries invested little in the 2000s. This divergence is driven partly by the differing investment patterns of the source countries, yet also reflects commercial and geopolitical realities, sanctions and concerns over energy security. The paper then examines whether and how FDI can lead to economic development in Myanmar, and, closes by discussing the importance of recent political and economic reforms for rebalancing Myanmar's FDI. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to investigate the relationship between trade openness and economic growth in developing countries. Under this aim, the co-integration relationship between trade openness and economic growth of 17 developing countries is examined without relying on data stationarity. Design/methodology/approach – The co-integration relationship between trade openness and economic growth is analyzed by Bounds testing approach developed by Pesaran et al. In addition to this, the causality relationship is tested by causality analysis developed by Toda and Yamamoto. Findings – According to the Bounds test results, co-integration relationship has been detected for six countries and long-term coefficients among the variables have been found positive and statistically significant. According to the Toda and Yamamoto causality analysis, causality has been detected for eight countries. In four of these, the direction of causality is from trade openness to economic growth and in the other four, vice versa. Originality/value – The methodology employed provides an alternative framework for examining relationship among economic variables. The paper shows how to create co-integration and causality tests without relying on data stationarity, which is a major problem in time series of economic variables. On the empirical side, it adds new empirical results into the literature in the name of identification of relationship between trade openness and economic growth in developing countries. [ABSTRACT FROM AUTHOR]

Aid for trade is a tool designed to interlock aid and trade policies in pursuit of raised living standards and reduced poverty. This paper demonstrates why trade matters for boosting productivity and economic growth and explains why some countries are unable to reap the gains from trade. It does on to analyse how aid for trade can help strengthen the impact of trade on growth and poverty reduction, and which policy tools can best reinforce the impact of trade on poverty reduction. It underlines the need for a tailored, country-based approach to economic integration, and summarises the main policy conclusions and the potential gains-from-trade that are at stake. [ABSTRACT FROM AUTHOR]

The proliferation of regional trade agreements (RTAs) which share similar ideals with the World Trade Organization (WTO) has added to claims of disintegration within international trade law. Notwithstanding the ambiguity surrounding the reading of General Agreement on Tariffs and Trade (GATT) Article XXIV on RTAs, WTO members are continuously negotiating RTAs with objectives which have so far not received universal acceptance under the WTO treaty system. In the context of European Union (EU)-Africa trade relations, the December 2007 EU-Africa summit was expected to be an appropriate venue for leaders from both sides to resolve the controversy surrounding the idea of development-friendly free trade agreements between the contracting parties. But, the summit was wrapped up without achieving any clear answer to this issue. Similarly, at the multilateral level, i.e. the WTO Doha Development Round negotiations, which the EU and the African, Caribbean and Pacific Group of States have sponsored, numerous development-friendly proposals on RTAs stalled since July 2006. Consequently, in view of this controversy, if development concerns can be factored into economic partnership agreements (EPAs), what would be an acceptable threshold for such RTAs to conform to GATT Article XXIV requirements of “substantially all trade” and “reasonable period of time”? This paper discusses the idea of development and WTO compatibility in the context of the EU-Africa Economic Partnership negotiations. In view of the flawed dispute settlement provisions under the Cotonou Partnership Agreement (CPA), the paper further tries to answer the question of whether the CPA contains rights and obligations that need protection by individual EU member courts and may necessarily be enforced before the European Court of Justice. The paper ends with some thoughts on the post-EPAs adjustment programme. [ABSTRACT FROM AUTHOR]

In the 1990s, around the world, government policies on FDI were unequivocally FDI -friendly. Numerous policy changes were enacted to make the investment climate more favourable to FDI. However, over the past few years a range of countries has enacted policy measures less favourable to FDI. Does this represent an overall shift in FDI policy thinking? And, if so, what are the current drivers of such a change? This paper discusses trends in contemporary FDI policy and the role played by prevailing narratives, actors and the changing context in shaping policy. [ABSTRACT FROM AUTHOR]

Does the effect of international trade on income growth depend on the economy’s level of development? More specifically, is trade more beneficial to lower income economies? Does trade contribute to a smaller international income inequality? The present paper seeks to answer these questions by employing the empirical model of Frankel and Romer (1999 ), which shows trade increases income growth in a cross section of 150 countries. We find evidence in support of the hypothesis that international trade benefits the lower income economies more than it benefits the higher income economies. This finding is robust in the presence of control variables including distance from the equator and institutional quality. [ABSTRACT FROM AUTHOR]

The paper provides an overview of China's relations with Poland in the context of the New Silk Road (NSR) as well as Łódź's benefits form the One Belt One Road (OBOR). China has rapidly expanded the extent of its interactions with Poland since 2013 when it decided that the railway network should go through the shortest land connection of China to Western Europe. From the very beginning, Łódź was one of the most important points on the planned route. The article presents the key features of the city, while the case of the Łódź-Chengdu rail connection offers an insight into the region's benefits from the NSR. The article concludes that although there have been positive changes in the economic situation of the Łódź region so far, there are still many areas of the Sino-Polish cooperation that seem crucial for the future of the OBOR. [ABSTRACT FROM AUTHOR]

Foreign trade plays a very significant role in the economic, social, political and cultural life of nations. Foreign trade is the way of economic development for every country especially for developing countries. Regional cooperation philosophy brought these efforts jointly by a group of countries of particular regions. All countries including India started to walk on the same path for the development of all corners in a cohesive and cooperative manner and India shook its hand for such cooperation with various trade blocs like ASEAN. This paper attempts to portray the picture of such cooperation and relationsof India with ASEAN countries for trade development. RESEARCH TYPE AND METHODOLOGY: The manuscript of the study is empirical in nature. In this paper exploratory research techniques have been used. For the purpose of the study, Secondary Sources of data have been collected through various published literature; Journal Articles, Newspapers, Books and Websites etc. The major sources of secondary data have been the online database of Ministry of Commerce and other publications of Government of India as various issues of Handbook of Indian Statistics, ASEAN Statistical Year Book and Economic Survey. Data have been properly classified and statistically analyzed with the appropriate tools such as Mean, Percentage Change, Correlation, Compound Annual Growth Rate and Time Series Analysis etc. RESEARCH FINDINGS AND INSIGHT: The study reveals that India's trade with ASEAN has prominent place. India's exports and imports have increased smoothly with varying rates of growth and the future estimation about the trade explains that India needs to concentrate more on expansion of exports especially with newly added nations of ASEAN because India's largest trade destinations are few among the founder member states of ASEAN under the period of study. IMPLICATION: The findings of the study suggested that India has to be more attentive and concerned on the trade expansion with ASEAN countries and specifically with newly added ASEAN countries. [ABSTRACT FROM AUTHOR]

This paper presents a newly constructed database on foreign trade of Sweden-Finland 1738-1805, consisting of all exports and imports that were recorded by the custom houses in this period, and is made available at www.historia.se/Swedish foreign trade 1738_1805.xlsx. The traditional view as presented by Eli Heckscher, who was very critical of the mercantilist policies of the time, was that the overseas trade of Sweden-Finland saw a trend of secular stagnation during the course of the eighteenth century. By contrast, we show that in conjunction with a substantial expansion of the population, total trade nearly increased twofold during the period of study. Despite that, there was a small decrease in the value of exports in relation to GDP, mostly explained by a drop in the relative price of bar iron. The degree of specialisation of Swedish exports saw a declining tendency in this period. While exports from Sweden had a higher degree of specialisation than Finnish exports, imported goods to Finland were more concentrated than Swedish imports. Lastly, the composition of imports did not markedly alter, meaning that a consumer revolution did not take place in either Sweden or Finland. [ABSTRACT FROM AUTHOR]

China has prospered and turned into a world superpower due to the rapid economic growth in the Old Silk Road era. President Xi Jinping of the People's Republic of China, being aware of this fact, has the desire to revitalize the Silk Road and, thus, on his official visit to Kazakhstan in September 2014, declared the commencement of the "Belt and Road Initiative," or "One Belt One Road (OBOR)" strategies aiming to develop bilateral and multilateral economy. Under the concept of this New Silk Road, or OBOR, China has the intention to connect and develop the infrastructure leading to central Asia and Europe. This will also cover the Southeast Asia region. Thailand, having much better geopolitical and geo-economic conditions than other Association of Southeast Asian Nations (ASEAN) countries, has been foreseen to be the hub that will link the countries both inside and outside the ASEAN region. The objective of this paper is to investigate and discuss the challenges and opportunities for Thailand under China's OBOR strategy framework. It can obviously be viewed that China's OBOR conforms to Thailand's international trade strategy as being the center of connectivity with the countries both inside and outside ASEAN. And this will result in the long-lasting growth of the economy of Thailand. China's OBOR strategies, especially the promotion of OBOR through the Southeast Asia region, will encourage cooperation between China and ASEAN in various aspects, for example, transportation, trade, investment, energy, and regional cooperation, which will directly and indirectly benefit ASEAN nations including Thailand, whose geo-economic advantage makes it suitable to be the center of the other ASEAN countries. [ABSTRACT FROM AUTHOR]

This paper discusses the role of the BRICS countries as strong players in the global economy and is aimed at identifying major obstacles to their economic growth. It examines money and debt capital markets in the BRICS and their attractiveness to foreign investment in 2006-2016. The research methodology is based on a comparative analysis of financial market indicators. During the period 2006-2007 the BRICS countries were becoming increasingly attractive for foreign direct investment, mostly due to their natural and labor resources. Modernization reforms, carried out in the 80s, also stimulated competition and enhanced standards of living. The BRICS countries achieved higher GDPs, promoted production growth and achieved a positive balance of payments. Since 2007 the BRICS have not only attracted investment, but have been investing in the developed economies. However, the analysis also revealed some fundamental economic weaknesses, originating in the global economic crisis. The most serious of these are increasing financial risks and the destabilization of the money markets. The post-crises period is characterized by the struggle for stability and the creation of new infrastructure (New Development Bank and Pool of Contingent Reserve Arrangement). [ABSTRACT FROM AUTHOR]

Traditionally, China and North Korea have been described as 'blood brothers' because of their common socialist ideological ground. Since 2000 the basis of their relationship has shifted from one-sided economic support by China into strategic and mutual cooperation. In this paper, we analyse changes in their relationship by examining two specific points: first, China's growing investment and trade in North Korea, and second, close linkages of regional development strategies between the two countries. While the prevalent discussions around North Korea and its relations with China concentrate on geopolitical issues, this research shed more light on geoeconomic engagement between China and North Korea. This paper argues that it is crucial to grasp how China and North Korea perform geoeconomic calculations toward each other and how this affects geopolitical conditions. [ABSTRACT FROM AUTHOR]

Empirical research has generally attributed the dismal performance of Africa's economic growth to country-specific socio-economic and geo-political factors. This paper shows that while country-specific issues matter for Africa's economic growth, common global economic factors do matter as well. The importance of common global economic factors has been augmented by increased globalization, the introduction of the World Trade Organization and the current global economic crisis. Using system GMM panel data techniques that extend previous literature on Africa's growth, the estimation results provide new insights into the positive relationship between the world business cycle and the growth rates of African countries. Copyright © 2010 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) is one of a number of sub-regional "growth polygons" in Southeast Asia that was established in the early 1990s to help accelerate the process of regional integration among the member states of the Association of Southeast Asian Nations (ASEAN). However, these sub-regional zones include the less developed parts of Southeast Asia, and therefore face significant developmental challenges. This paper seeks to understand how BIMP-EAGA has addressed these challenges in accordance with the principles of developmental regionalism; that is, activities that are particularly oriented to enhancing the economic capacity and prospects of lesser-developed countries with a view to strengthening their integration into the regional economy, and thereby bringing greater coherence to overall regional community building. This article examines how BIMP-EAGA has pursued developmental regionalism through various initiatives and measures aimed at enhancing inter-related development capacities: technocratic, institutional, industrial, infrastructural, human and sustainable development. There have been successes but also failures in BIMP-EAGA, as evidenced by the persistent lack of progress in achieving substantial sub-regional development cooperation. This paper discusses the reasons for these outcomes, and makes a number of recommendations to give BIMP-EAGA new direction and purpose. [ABSTRACT FROM AUTHOR]

This paper aims to identify the main causes of bilateral trade flows in OECD countries. The specific features of the study include the explicit introduction of R&D and FDI as the two important explanatory variables, conduct of unit root tests in the panel data framework and careful consideration of endogeneity. The main findings are that the levels and similarities of market size, domestic R&D stock and inward FDI stock are positively related to bilateral trade, while the distance, measured by both geographical distance and relative factor endowment, between trade partner countries has a negative impact. These findings lend support to new trade, FDI and new growth theories. [ABSTRACT FROM AUTHOR]

Remittances have been a great support to Pacific island countries (PICs). Aside from providing additions to domestic savings and, hence, real resources, they have been one of the major sources of foreign exchange earnings. In the context of falling exports and limited options to diversify their exports, inward remittances have assumed greater importance. This paper examines the nexus between growth and remittances in Samoa. [ABSTRACT FROM AUTHOR]