The Future of the World Trading System: Asian Perspectives

Baldwin, Richard; Kawai, Masahiro; Wignaraja, Ganeshan | June 2013
Abstract
The world trading system is in a state of flux characterised by new developments and uncertainties about its governance. Fundamental changes are occurring because of the rise of emerging economies, such as the BRICS, and the expansion of their trade and foreign direct investment (FDI), and also the proliferation of free trade agreements (FTAs) globally. Over the last three decades, trade and FDI have grown rapidly in Asia and regional trade and investment integration has deepened, which has contributed to sustained growth and improvement in peoples livelihoods.The essays in this VoxEU eBook, written by leading Asian and international trade experts, conduct a broad and comprehensive examination of key changes taking place in the world trading system and trace policy implications for Asia. The essays cover:1. Stylised patterns of, and participants in, global production networks and supply chains. 2. The economic effects of commercial and industrial policies pursued by countries. 3. The evolving architecture of regional trade governance characterised by the spread of FTAs and attempts at consolidation into large, region-wide agreements. 4. The state of global trade governance centred on the WTO and proposals for reform.
Citation
Baldwin, Richard; Kawai, Masahiro; Wignaraja, Ganeshan. 2013. The Future of the World Trading System: Asian Perspectives. © Asian Development Bank. http://hdl.handle.net/11540/4724. License: CC BY 3.0 IGO.
Keywords
Trade Facilitation
Trade
Economic integration
Regional Economic Integration
Free Trade
Trade Agreements
Trade Policy
Economic Development
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http://hdl.handle.net/11540/4724
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