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Foreign policies, including trade policies, typically entail significant executive discretion, marked by a top-down decision-making process. This has been evident in South Korea, where the president, as chief diplomat, wields substantial authority in selecting the country's Free Trade Agreement partners. Given South Korea's efforts to solidify its status as a trade hub and the strategic advantages of joining the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), why has the country not been able to formally apply for membership? What influenced presidents to consistently list the CPTPP as a foreign economic policy objective, yet refrain from participation while actively pursuing other trade initiatives? This article seeks to adopt insights from the agenda-setting literature to comprehend the mechanisms governing presidential agenda priorities in foreign economic policy. Utilising a framework of foreign policy attention, it uncovers factors and processes that influence South Korean presidents' focus in shaping trade policies. It demonstrates that external policy events drive the president's attention, but the limited progress of the CPTPP underscores the crucial impact of the president's priorities and responsiveness to the domestic audience. [ABSTRACT FROM AUTHOR]

Economic policies are increasingly guided by a whole set of different concerns from those that inspired International Economic Law (IEL). Instead of interdependence, trade liberalization, and market-orientation, rules and government decisions are increasingly directed to pursue goals such as reduction of dependence, resilience, autonomy, and even self-reliance. A geoeconomic logic is gradually replacing the liberal rationale that underpinned IEL for the past decades. Understanding where IEL might be headed requires an appraisal of this changing logic. This Article makes the following contributions to this effort. First, it proposes a conceptual framework centered around the notion of "geoeconomics," which provides a coherent meaning to many developments that are transforming economic relations. The framework is unique in that it clearly outlines what is considered under the concept of geoeconomics, particularly by distinguishing it from other potentially misleading notions. This Article describes the assumptions that back the geoeconomic framework and show how they play out in practice. Thus, it sheds light on the factors driving many recent developments in the global economy which are difficult to explain from a liberal logic. Second, it contributes to sophisticate the terms of the debates among international economic lawyers that seek to address the transformations impacting IEL. These debates have neglected elements that are brought to light by the geoeconomic framework. This Article presents the insights arising from the geoeconomic framework and how they offer directions for future debates on the evolution of IEL. [ABSTRACT FROM AUTHOR]

Türkiye's economic relations with East Asia have gone through a significant structural shift over the last two decades. Previously, Japan dominated Türkiye's trade with East Asia and foreign direct investment inflows from East Asia to Türkiye. However, recently both South Korea and China have surpassed Japan as major trading partners of Türkiye in East Asia and caught up with Japan in foreign investments in Türkiye. The dependence of the Turkish economy on intermediate inputs from China, in particular, rose remarkably. The shift from Japan toward South Korea, and more significantly, to China in Türkiye's economic relations with East Asia reflects the changing division of labor in the East Asian region and the rise of China as a manufacturing superpower. In this analysis, we discuss the extent of this shift in Türkiye's relations in light of the ongoing talks of a proposed free trade agreement between Türkiye and Japan, the changing global trade environment due to the decoupling from China, and the increasing fragmentation of the world economy. [ABSTRACT FROM AUTHOR]

Since the United Kingdom's vote for exit from the European Union - i.e. Brexit (June 2016), the proponents of the leave campaign have claimed that the idea of Global Britain will result in an independent trade policy, which can expand the UK's trade geography and scope through striking free trade agreements (FTAs). This study aimed at examining this claim, first by looking at the official statistics on the signed FTAs, and then, by conducting semi-structured interviews with British stakeholders from different social groups in order to see Global Britain's future potentials. The findings from this qualitative-quantitative approach revealed that the possible gains from the post-Brexit FTAs will only manifest in the long run and in some sectors. Furthermore, the prospects of an independent trade policy will be constrained by the UK's need to align with the EU standards and the unclear future of the FTAs with major economies like the US. Thus, as the theoretical framework of economic geography suggests, British trade relations will still depend on geographical proximity, and will not be shifted drastically by the idea of Global Britain; an idea which seems to serve as a strategy to positively portray Brexit for the domestic and international businesses and people. [ABSTRACT FROM AUTHOR]

Diversification of exports and deepening of trade relations is a constant concern of any country. This issue becomes especially relevant if the preferential regime provides an opportunity for economic integration. The Association Agreement (AA) and the Deep and Comprehensive Free Trade Area (DCFTA) between Georgia and the European Union have offered the possibility of economic integration into the EU single market since 2014. Since export diversification is found in the agricultural sector in the top ten export goods both by commodity and geography, and the sector is monopolized or oligopolized according to the main export products, the article will focus on the difficulties of entering the EU market for agricultural products, and more precisely on the role and importance of small agrologistics centers. Based on the results of the research, the article presents conclusions about what should be the optimal agrologistics center for the reality of Georgia, which includes all links of the value chain of agricultural products production. [ABSTRACT FROM AUTHOR]

The article analyzes the operational metamorphosis of the Africa Continental Free Trade Area (AfCFTA) agreement from an intra-Africa Continental perspective. It explains the creation of AfCFTA in the context of globalization and its vision for the largest free trade zone and sustainable economic development in Africa. It considers the opportunities offered by trade interdependence for local and cross-border traders, economic policy challenges, and the need for a transdisciplinary approach.

Sharing data electronically with key trading partners is needed to unlock value and boost economic activities in this big data era, especially for organisations such as the Africa Continental Free-Trade Area (AFCFTA). However, the myriad of ethical issues around the data and lack of clear frameworks to share the data is slowing the extraction of value from the data. In this study, the main question addressed is why has extraction of value from the big data remained on the radar of most organisations for a long time? The primary objective was to develop a data sharing framework that can be used on a broader scale by organisations such as AFCFTA that are already in some kind of relationship. We conducted qualitative research on the concept of data sharing with key stakeholders by interviewing executives, senior managers, and Information Technology consultancies in a manufacturing environment in Zimbabwe to find out what is limiting them from sharing their data with other organisations for analytics. We used a case study and purposive sampling to investigate the problem. Twenty-three participants took part in this research study and a focus group was used to validate the findings. What emerged is that sharing business data goes beyond just linking devices and interconnecting systems. The desire to share data is there and is driven by the associated benefits, but the willingness to integrate systems and share data is hinged on trust, risk, and ethical considerations. We developed a framework for sharing data with key stakeholders that can be used by policymakers as the basis for crafting laws that promote the sharing of data among key trading partners on a broader scale. [ABSTRACT FROM AUTHOR]

This paper studies the possible role of US trade liberalization in explaining Puerto Rico's deindustrialization. In order to address this issue, time series techniques were used. The results of the Granger Causality Test suggest that the imports made by the US from Mexico, Canada, Ireland, and Costa Rica do not explain Puerto Rico's deindustrialization. Therefore, no causal relationship was found between the imports made by the US from its NAFTA partners and the countries where the corporations that benefited from Section 936 relocated with the deindustrialization of Puerto Rico. Besides, the impulse response exercise suggests that in the first period, deindustrialization explains its variability by 100%, and in the final period, it explains 95.47%. [ABSTRACT FROM AUTHOR]

Copyright of New Economist / Novi Ekonomist is the property of University of East Sarajevo 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.)

This article by Nam Seok Kim discusses the impact of trade liberalization in China on its export growth pattern. The author highlights the various perspectives on the relationship between Chinese trade liberalization and its economic and political outcomes. The study focuses on the mechanism of Chinese import trade liberalization and its effect on Chinese export growth, specifically examining the extensive margin and intensive margin of exports. The findings suggest that larger import tariff reductions in China positively impacted both the extensive and intensive margins of China's exports, with quantity margin being positively correlated and price margin having the opposite relationship. However, readers should be aware of certain limitations in the study, such as the use of the gravity model and the omission of the systematic selection issue from zero trade flows. Further research is needed to establish a closer match between theory and empirical analysis. [Extracted from the article]

The subject of this paper is the legitimacy and purpose of concluding a free trade agreement (FTA) between the USA and Kenya. The main research problem lies in whether the US-Kenya FTA can become a template for strengthening trade cooperation between the US and Africa and strengthening the American economic position on the continent. The main hypothesis is that the successful negotiations leading to the conclusion of an FTA, satisfactory for both the US and Kenya, might motivate other African countries to negotiate with the US in this regard. The US-Kenya FTA could become a model document, helping the US and African countries to negotiate free trade cooperation. It may prove to be a milestone on the road to closer economic cooperation between the United States and Africa. [ABSTRACT FROM AUTHOR]

The article states that lowering tariff rates through the establishment of mega-free trade agreements has the potential to promote the economic development of nations. It mentions that discrepancies in treaty negotiations and economic deterioration have been caused by the protectionist methods favored by some countries, such as India.

• Critical assessment of Pasinetti's model of structural change in open economies. • Uneven productivity developments and dynamic patterns of international specialisation. • Channels of international technology transfer and dynamics of international specialisation. • Trade specialisation and patterns of catching-up • International trade and development policy. This paper covers Luigi Pasinetti's contribution to the analysis of international economic relations as contained in his 'Structural Change and Economic Growth' (1981) and 'Structural Economic Dynamics' (1993). While appreciating the important contribution he makes in this area, the paper also critically examines some aspects of his analysis and suggests further developments. [ABSTRACT FROM AUTHOR]

Among the Mercosur countries (Argentina, Brazil, Paraguay and Uruguay), the free trade agreement between them and Singapore reveals Brazil's clear interest in expanding economic and trade relations with key players in Asia, a highly dynamic trading area. [ABSTRACT FROM AUTHOR]

The author reflects on near 50-year diplomatic relationship between New Zealand and the People's Republic of China. It mentions increase in bilateral trade between two countries and economic connections between two countries were further strengthened with the entry into force earlier this year of both the bilateral free trade agreement upgrade. It also mentions Regional Comprehensive Economic Partnership, with two-way trade between China and New Zealand.

ASEAN has made great progress toward economic unification and free trade in the area. With the objectives of creating a unified market, expanding intra-ASEAN trade and investment, and attracting foreign investment, ASEAN has been a cornerstone of the Philippines' diplomatic and commercial policies, which is evident in the Philippine policy of creating a more prosperous, secure, and free Southeast Asia through a variety of measures in politics, economics, international trade, and functional cooperation. The researchers revisit Jan Tinbergen's Gravity Theory by using the adjusted augmented gravity model in a panel data of bilateral trade flows between the Philippines and the ASEAN member countries from 1995 to 2019 at the national level using the Poisson- Pseudo Maximum Likelihood estimator and Ordinary Least Squares, both with fixed effects, in a model-comparison approach. Using the fitted trade values from the PPML estimates and the standardized real values of exports and imports of the trading countries through the index of Average Standardized Trade Potential, it was found that the bilateral trade between the Philippines and other ASEAN member countries has been efficiently performing over the past decades, except for Brunei Darussalam, Cambodia, Lao PDR, and Myanmar. Hence, a dynamic and more inclusive approach should be adopted by both the Philippines and its trading partners to reach the optimum bilateral trade potential in the nearest future. [ABSTRACT FROM AUTHOR]

Most theoretical and empirical accounts of trade politics focus on political conflict among competing private interest groups and over policies between the dichotomy of trade liberalization and protectionism. This article challenges this conceptualization by arguing that issues of antitrust, market power, and competition are central to the politics over free trade, and that in this domain state actors are comparatively more important. Original archival evidence from the American New Deal and post-war foreign economic policy shows that post-war free-trade policies were heavily influenced by views, formed in the 1930s, about domestic industrial organization and antitrust. These preferences were then pushed into international economic policy during and after World War II through trade negotiations, extraterritorial application of American law, and pressure for domestic competition laws abroad. In one of the most prominent episodes of trade liberalization, an antitrust campaign and debate permeated trade issues, based in independent state learning and economic preferences. [ABSTRACT FROM AUTHOR]

This paper deals with issues of global economic growth with endogenous private wealth, national human capital, and global knowledge. We build a multi-country growth model with interactions between wealth accumulation, human capital change, and knowledge growth by integrating the basic economic mechanisms in a few theories. The model is framed within neoclassical growth theory. Human capital accumulation is based on the Uzawa-Lucas twosector model. Trade pattern is determined as in the Oniki-Uzawa trade model. Knowledge growth is influenced by new growth theory. Household behavior is modelled using Zhang's concept of disposable income and utility function. The dynamics of the J-country world economy is described by 2J+1 differential equations for wealth, human capital, and knowledge. We simulate the movement of the global economy based on three economies. We also conduct comparative dynamic analysis to show how changes in national characteristics, such as propensity to save, propensity to receive education, efficiency of applying human capital and creativity, shift dynamic paths of the global and domestic economic development. [ABSTRACT FROM AUTHOR]

The Internet’s potential to enable micro, small, and medium-sized enterprises (MSMEs) to conduct international commercial transactions has yet to be fully realised. Small enterprises, especially MSMEs based in developing countries, continue to face substantial obstacles to their participation in trade. While ‘International Economic Law’ has evolved amidst rapid globalisation and technological change, developing countries’ MSMEs are frequently unable to achieve the benefits associated with trade liberalisation. As ‘new generation’ agreements introduce further legal complexity in both the number and scope of trade rules, this article investigates Chile’s application of information and communications technology (ICT) to improve the accessibility and functionality of commercial policies. With an emphasis on computational approaches to trade policy design and delivery, the Undersecretary of International Economic Relations (SUBREI) of the Ministry of Foreign Affairs of Chile has launched a pilot programme to contribute to an open repository of rules in a digital form: ‘An Internet of Rules’ (IoR). Along with reference data, the computational expression and online publication of rules, that may be ‘in effect’ or ‘applicable’ to cross-border transactions, can improve access and use by people and machines alike. Against the backdrop of the country’s history of reform and membership in the World Trade Organization (WTO), the Comprehensive and Progressive TransPacific Partnership Agreement (CPTPP), and the Digital Economy Partnership Agreement (DEPA), the investigation articulates Chile’s ongoing contribution to an IoR as well as the alignment of its policy digitalisation efforts with national development strategies. [ABSTRACT FROM AUTHOR]

The article describes the approaches behind and assessment of deep free trade agreements (FTA) and the shallow 2020 U.S.-China Phase One agreement. Topics discussed include the differences between deep and shallow trade agreements particularly in terms of border measures, emphasis of the China's trade agreements on reciprocal exchanges of market access commitments, and potential of the latter agreement to lead to trade diversion discussion.

The existing economics literature on international trade agreements focuses on tariff agreements covering trade in goods and explains core features of the General Agreement on Tariffs and Trade (GATT). Tariffs play almost no role in services markets, however, and the literature cannot account for the strikingly different approach to trade liberalization in agreements such as the World Trade Organization's General Agreement on Trade in Services (GATS). We develop a model through which key features of GATS, including its emphasis on "deep integration" can be understood. And we use this model to suggest that there may also be a middle ground for services trade liberalization between the GATS deep-integration approach and the traditional "shallow-integration" approach of GATT. [ABSTRACT FROM AUTHOR]

Further, large economies such as China (in 2001) and Russia (in 2012) became members of the WTO, and as of today, WTO members account for 98 percent of global trade. But also, her ability and experience as a world leader are key: given tensions between WTO members, being a leader and a peacekeeper are important characteristics of a new WTO DG. WTO AFTER THE URUGUAY ROUND: THE STANDSTILL OF MULTILATERALISM In 1995, 123 countries agreed to establish free trade on a global scale and founded the WTO. 8 CESifo Forum 2 / 2021 March Volume 22 FOCUS Important events in 2020 have increased uncertainty over the future multilateral trade relations: the crisis at the World Trade Organization (WTO), increasing protectionism, Brexit, uncertainty about the US election outcome and, not least, the Covid-19 crisis. [Extracted from the article]

Copyright of Social Sciences in China is the property of Routledge 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.)

The reaction within Southeast Asia from business and policy leaders to the United Kingdom's decision to exit the European Union has thus far been one of disappointment rather than panic. [...]

President Trump has delivered on his promise to shake up Washington, arguably nowhere more so than in the policy space of international trade. President Trump's trade agenda has challenged more [...]

When differentiating among different types of populism (right-wing, left-wing and anti-establishment populism), the econometric results differ based on the indicator used to measure protectionism. For example, when using a trade freedom index to measure populism, Jones finds no significant effect of populism on protectionism. Kent Jones' book I Populism and Trade i examines the effects of rising populism on growing trade protectionism across the world. [Extracted from the article]

Internetization is a new word that I have coined to update the concept of globalization. In effect, internetization is globalization on steroids. More precisely, internetization is composed of two interactive forces. These are global outreach and electronic connectivity. The word internetization has gained currency and visibility since it was first introduced during the turn of the 21st century. It has become widely adopted by the academic community and has appeared in numerous scholarly publications. Internetization has also been used as a Twitter hashtag since 2009. The Age of Internetization is a by-product of the new global economy of the 21st century. In my estimation the new global economy rests on three pillars: globalization, trade liberalization and the IT revolution. Globalization has melted national borders and redefined economic policy. Free trade has enhanced economic integration and extended the economic architecture. The information and communications revolution has made geography and time irrelevant and enhanced the reach of economic parameters. All these pillars are driven by a virtually borderless world and the digitalization of economic activity. Internetization has revolutionized and modernized our social, political, economic, cultural and democratic interactions. Hardly a day goes by when our individual and collective lives are not touched by some aspect of the information technology and communications revolution. From the way we shop, eat, dress, invest, travel, entertain ourselves, communicate with each other, access health care, exercise our democratic rights or pay our bills. These are just a few of our routine daily functions that have been profoundly influenced by the process of internetization. The electronic prefix that is appearing before an increasing number of our daily interactions such as e-commerce, e-mail, e-learning, e-banking, e-democracy and e-government is a tangible expression of the pervasive influence of the information technology revolution and the transformational role of the Internet. This keynote presentation will conclude with an assessment of the good, the bad and the ugly regarding internetization. It will evaluate the revolution in instantaneous electronic communication, analyze the contributions of electronic banking, highlight the convenience of consumer purchases on line, applaud the digital transparency in economic governance, raise alarms about the pitfalls of online voting, spotlight the consequence of identity theft and cyberespionage and reveal the rapid ascent of a brand new cottage industry in the form of cyber security. All these mile posts will be assessed for their impressive benefits as well as their compounded challenges. [ABSTRACT FROM AUTHOR]

The Sino-Pak relationship is an epitome of long-lasting friendships, despite diverse beliefs, culture, and social system. Pakistan was the first Muslim state to accept China in 1950, while diplomatic relations were begun in 1951. The Sino-Pak has signed various agreements on strategic, diplomatic, and economic spheres, and both countries support each other on international forums. Earlier, the nature of ties was focused on diplomatic and military-based, however, in the twenty-first century; both countries have strengthened the economic relations after the agreements of free trade agreement in 2007 and China–Pakistan Economic Corridor (CPEC) in 2015 respectively. This paper aims to investigate and analyze the significant factors behind the historical dynamics of Pak-China diplomatic ups and downs, strategic associations, and economic cooperation. The theory of complex interdependence uses as theoretical conception in this research work. This case study provides a detailed examination of essential developments among both states from beginning to 2018. [ABSTRACT FROM AUTHOR]

The EU is actively pursuing Deep and Comprehensive Free Trade Agreements (DCFTAs) as part of its trade and aid relations with former colonies in North Africa. Utilizing the discourse of pro-poor business growth and win-win free trade, the EU insists that North African countries must acquiesce to DCFTA liberalization to achieve sustainable development. This article critiques the paternalism of EU actors amidst their focus on completing these controversial DCFTAs. Drawing upon Nkrumah's and Fanon's articulation of the concept of neocolonialism, it argues that the EU is cementing colonial-style patterns of production via iniquitous trade and aid arrangements. Moreover, the article illustrates that EU elites in their justification of the DCFTAs are replicating the colonial-era discourse surrounding Eurafrica and the alleged economic "complementarity" and inevitable "interdependence" of the European and African continents: an amnesiac Europe thus simultaneously draws upon European colonial imaginaries in the justification of neocolonial DCFTAs while downplaying, and forgetting, the regressive legacies of colonial trade relations. The article also demonstrates how certain North African campaigners are already drawing attention to the neocolonial contours of the DCFTAs in order to delegitimise these free trade vehicles vis-à-vis North African and European public opinion. [ABSTRACT FROM AUTHOR]

The agreement establishing the African Continental Free Trade Area (AfCFTA) has been touted as an important pillar and driver for economic growth, industrialisation and sustainable development in Africa. Among its expected key benefits is the promise to increase the level of intra-African trade by eliminating import duties and other tariffs among member countries, in addition to general trade expansion. However, unlocking the AfCFTA's full potential will largely depend on how the continent is able to restructure its exports, which are poorly diversified and remain highly dependent on primary commodities. Moreover, intra-African trade remains dominated by a few big regional players. To this end, there have been growing fears that the AfCFTA's anticipated gains, and associated losses, are likely to accrue unevenly. Countries with large productive capacities in manufacturing or stronger supply capacities in non-manufactured products may reap more rewards than weaker landlocked and smaller economies, particularly the least developed countries (LDCs). These concerns have led to a number of countries, including Malawi, pushing for special and differential treatment in the implementation of the AfCFTA's provisions on the elimination of import duties and other tariffs. Many LDCs, including Malawi, rely heavily on international trade taxes as a source of government revenue. There is a legitimate concern that such economies are likely to be left grappling with the negative effects of tariff cuts in the form of substantial fiscal revenue loss. This article explores the potential impact of the AfCFTA on LDCs, with a focus on Malawi. It reviews Malawi's intra-African trade position in terms of its export potential and examines the likely impact that the AfCFTA agreement would have on the country's fiscal revenues. [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]

With the notable exception of the Ukraine crisis, Berlin has pursued a cooperative policy vis-à-vis Moscow, demonstrating a unique measure of understanding. This policy is consistent with the two roles that Germany has played in the international system since World War II—as a 'civilian power' and as a 'trading state'. Both have proven successful in foreign policy and economic terms, but have also created a path dependency that complicated adaptability to changed conditions: indecisiveness and a propensity for the middle ground have proven to be its questionable side-effects. [ABSTRACT FROM AUTHOR]