Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘WTO’

Der Schiedsrichter flieht vor dem Handelskrieg

Posted by hkarner - 9. Juli 2017

Die WTO macht den Weg frei für Trumps „Schutzzölle“ und beraubt sich so ihrer letzten Daseinsberechtigung.

Traut er sich? Oder traut er sich nicht? Führt Donald Trump wie angedroht Strafzölle auf Stahlimporte ein und zettelt so einen Handelskrieg mit EU und China an? Brüssel und Peking haben ihre Bedenken jedenfalls vorsorglich bei der Welthandelsorganisation (WTO) deponiert, die in solchen Fällen üblicherweise als Schiedsrichter fungiert. Doch diesmal scheint alles anders: „Die WTO ist nicht das richtige Forum für diesen Disput“, gab WTO-Chef Roberto Azevêdo beim G20-Gipfel zu Protokoll.

Interessant. Die WTO hat also offenbar keine Lust mehr, den Schiedsrichter zu spielen – und droht so ihre letzte Daseinsberechtigung zu verlieren. Viel mehr als zwei Aufgaben hat die 20 Jahre alte Organisation nämlich nicht: multilaterale Freihandelsverträge aushandeln und internationale Handelskonflikte beilegen. Punkt eins verfehlt die WTO seit Jahren grandios. 15 Jahre Doha-Runde brachten selbst bei freundlichster Betrachtung nur einen Minimalkompromiss. Die Beilegung von Konflikten funktionierte hingegen bisher gut. Warum nimmt sich die WTO da freiwillig aus dem Spiel?

Ihm seien die Hände gebunden, argumentiert Azevêdo sinngemäß. Artikel 21 der WTO-Regeln besagt, dass Staaten, die ihre protektionistischen Maßnahmen mit nationaler Sicherheit erklären, sich nicht weiter rechtfertigen müssten. Genau das versuchen jetzt die USA. Als Grund für die geplanten Zölle dienen nicht mehr angebliche Dumpingpreise der Ausländer. Stattdessen gibt Trump vor, die US-Stahlindustrie schützen zu müssen, um die Versorgung im Kriegsfall zu sichern. Tatsächlich landen allerdings nur drei Prozent der Stahlimporte bei Rüstungskonzernen. Dass die WTO der kruden Argumentation folgt, ist auch mit ihrer eigenen Schwäche zu erklären. Die USA drohten der Organisation bereits offen, ihren Schiedsspruch ohnedies ignorieren zu wollen. Dieser Schmach kommt Azevêdo mit seiner Verneigung nun zuvor. Den Rest des Beitrags lesen »

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The WTO Reborn?

Posted by hkarner - 23. Februar 2017

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Why Multilateralism Still Matters

Posted by hkarner - 30. November 2016

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How Donald Trump Can Fight Globalization

Posted by hkarner - 20. November 2016

Date: 18-11-2016
Source: Fortune

Globalization infiltrates every part of business and life, and most citizens may not even notice some of the trends in which they participate. US President Barack Obama noted while in Germany while adding that governments could do more to explain the complexities and ease hardships. “Make America Great Again” and “America First” of the Trump campaign were easy slogans that appealed to voters, especially the working class and others worried about jobs. Research suggests that “actual trends in globalization are much different than the political rhetoric from the 2016 election would suggest,” explains Chris Matthews for Fortune. Growth in cross-border trade has already slowed, and trade agreements can create more jobs than they eliminate. “And there is clear evidence that these other measures of globalization, including immigration to America, the flow of information into the country from globalist forces outside the U.S., and the flow of capital in the form of foreigners buying U.S. assets continues to grow healthily.” Analysts anticipate the Trump campaign to focus on immigration policies, but limits could impose costs in unexpected ways. – YaleGlobal

Globalization involves many complex trends; cross-border trade already slowed in recent years and, combined with technology, contributes to slow job growth

He shouldn’t fight the last war

One of Donald Trump’s most effective slogans during the presidential campaign was “America First.” Den Rest des Beitrags lesen »

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World Trade Set for Slowest Yearly Growth Since Global Financial Crisis

Posted by hkarner - 28. September 2016

Date: 28-09-2016
Source: The Wall Street Journal

WTO cuts world trade growth forecast to 1.7% in 2016

Global trade will this year grow at the slowest pace since the global financial crisis, according to the World Trade Organization.

World trade will this year grow at the slowest pace since the global financial crisis, a development that should serve as a “wake-up call” given rising antiglobalization sentiment, the World Trade Organization warned Tuesday.

The Geneva-based body responsible for enforcing the rules that govern global trade cut its forecast for the growth of exports and imports this year and next, and now foresees an increase of just 1.7% in 2016 and as little as 1.8% in 2017, having projected rises of 2.8% and 3.6%, respectively, in April.

The WTO joined other international bodies—such as the Organization for Economic Cooperation and Development—in warning a slowdown in trade could weaken longer-term economic growth. Den Rest des Beitrags lesen »

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Fairness and Free Trade

Posted by hkarner - 13. Mai 2016

Photo of Dani Rodrik

Dani Rodrik

Dani Rodrik is Professor of International Political Economy at Harvard University’s John F. Kennedy School of Government. He is the author of The Globalization Paradox: Democracy and the Future of the World Economy and, most recently, Economics Rules: The Rights and Wrongs of the Dismal Science.

MAY 12, 2016, Project Syndicate

CAMBRIDGE – The global trade system faces an important turning point at the end of this year, one that was postponed when China joined the World Trade Organization almost 15 years ago. The United States and the European Union must decide whether they will begin to treat China as a “market economy” in their trade policies. Unfortunately, even as the battle escalates over the course of this year, the terms of the choice ensure that nothing will be done to address the global trade regime’s deeper flaws.

China’s WTO accession agreement, signed in December 2001, permitted the country’s trade partners to deal with China as a “non-market economy” (NME) for a period of up to 15 years. NME status made it a lot easier for importing countries to impose special tariffs on Chinese exports, in the form of antidumping duties. In particular, they could use production costs in more expensive countries as a proxy for true Chinese costs, increasing both the likelihood of a dumping finding and the estimated margin of dumping. Den Rest des Beitrags lesen »

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The EU Division Over China’s Market Economy Status

Posted by hkarner - 18. März 2016

The dispute over China’s “market economy status” (MES) divides Europe by countries and industries.

It stems from China’s 2001 agreement to join the World Trade Organisation (WTO), which Beijing believes required countries to grant MES to China within 15 years – by December this year.

Reportedly, EU lawyers reached similar conclusions over year ago. While the opinion did not necessarily suggest what the European Commission itself would decide, it did provide legal guidance to trade commissioner Cecilia Malmstroem and commission president Jean-Claude Juncker.

Today, China is the EU’s second-largest trading partner and one of the biggest markets for the 28-member bloc. Brussels’ MES decision will pace EU-China relations for years to come.

Opponents claim that the WTO accession deal does not imply China will be granted MES automatically by the end of the year. They argue that the state still plays a substantial role in the Chinese economy.

Against China’s MES Den Rest des Beitrags lesen »

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China, The New Indispensable Nation?

Posted by hkarner - 21. November 2014

Date: 20-11-2014
Source: The Washington Post

China is adapting to its role as an indispensable nation, argues Steven Mufson in an opinion essay for the Washington Post. The world’s second largest economy, also the largest emitter of greenhouse gases, is indispensable on a number of fronts, particularly climate change: “while America still possesses unparalleled military superiority and bears a unique burden in intervening in foreign conflicts or humanitarian crises, China has grown into an indispensable nation on issues such as climate change, trade, and peace and stability in the Asian Pacific.” China expects the United States to do more to increase China’s voting share at international organizations like the International Monetary Fund, Mufson notes, as China’s IMF voting share is smaller than France’s even though its economy is more than three times larger. Otherwise, the world can expect China to organize its own global instituions. Both the United States and China are nervous about the other’s role in setting rules, military priorities and agendas for domestic reform. Both countries confront divided interests at home, always a factor that can deter grand strategies on foreign policy and global reach. – YaleGlobal

The world has two indispensable nations for resolving global challenges, China and US, and each are nervous about the other

Maybe there are two indispensable nations. Den Rest des Beitrags lesen »

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Europe needs new dream to revive fortunes: Lamy

Posted by hkarner - 25. November 2013

Date: 25-11-2013
Source: Reuters

Lamy CCWorld Trade Organization (WTO) Director-General Pascal Lamy

If European policy elites could choose the next head of the EU’s executive, Pascal Lamy, the Frenchman who stepped down as head of the World Trade Organisation in July, would be near the top of most people’s list.

Lamy, 66, was chief-of-staff to Jacques Delors, the Commission president who pulled Europe out of the doldrums in the 1980s by tearing down internal barriers to create a single market and paving the way for the euro single currency.

Now he says the European Union needs a new dream to revive its sagging fortunes, based on modernizing its „social market“ model of tempering economic forces with social protection to keep it sustainable.

That’s why he probably won’t get the job. Den Rest des Beitrags lesen »

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