... deterrent to the growth potential and dynamism of the world economy. The 1990s seemed to turn the global system towards a less politicized and more economy-based framework, but in effect the division lines lingered for decades—the Jackson-Vanik amendment, WTO accession lasting nearly several decades for Russia, technological restrictions, etc. So, qualitatively the friend-shoring paradigm is nothing new and in many ways it renders implicit patterns of the past more explicit going forward.
One of the ways ...
... targeted response to the global slowdown. At the same time, regional integration organizations/arrangements could also provide their anti-crisis contribution via refraining from protectionist measures and coordinating liberalization initiatives with the WTO. The developing countries in the coming years could make a lasting and crucial contribution to making the G20 a more effective and inclusive global anti-crisis mechanism.
Source:
Valdai. Discussion club
... limits the scope for global and regional initiatives. There is arguably also insufficient vertical coordination between global and regional organizations — in particular between regional development banks and the World Bank as well as between the WTO and regional trade arrangements. One possible exception in this respect is the coordination between the IMF and the regional financing arrangements that is quite advanced and over the past years has been conducted on a semi-annual basis on the side-lines ...
... scale up such arrangements to the level of not just-country-to-country but also region-to-region and RTA-to-RTA (digital “integration of integrations”). ASEAN can also play a more active role in global and multilateral organisations such as the WTO. In particular, ASEAN can forge alliances within the global institutions with other regional groups from the Global South to promote an agenda of lower protectionism and greater openness.
In the end, now is the time when various regions of the world ...
... One possible option is a major superpower using its clout in a largely unipolar setting to facilitate greater policy coordination. Another possibility is for such coordination to be supported by global international institutions such as the UN, the WTO, Bretton Woods institutions, etc. Other options include coordination across the multiplicity of all countries of the global economy as well as across regional integration arrangements and institutions.
Attaining greater synchronicity across countries ...
... the support from the state. A similar conditionality framework could be employed in devising anti-crisis policies and regional support policies. The countries’ trade policy could also be significantly affected as the share of trade disputes in the WTO and defensive measures related to environmental standards (green protectionism) could increase significantly in the coming years.
Source:
Valdai. Discussion club
... track of the agreements concluded by Eurasian economies with third parties as well as provide for monitoring of compliance with the key items of the concluded agreements. Another aspect to constructing such a digital system is to envisage a role for the WTO and provide for WTO-compatibility of the various agreements included into the system.
Source:
Valdai. Discussion club
... multilateral diplomacy, there are instances of severing these communication lines with respect to international organisations (the case of the US and the WHO) as well as further progression of the stalemate in such international organisations as the WTO (the case of the dispute settlement body and the reform of the WTO). One of the possible innovative responses to the current downturn could be the creation of a new, regional layer of global governance that targets greater cooperation between regional ...
... transformed from an economic self-regulated process to a political tool used to defeat business competitors. Under the guise of economic rationale, a number of states apply a plethora of restrictions, extraterritorial sanctions, and actions that bypass the WTO with arguments based on national security interests and assumed political and military threats.
As of 2020, the key problems that caused the recession of 2008-2009, have not been resolved. The pandemic has only exacerbated these problems. The world ...
... any type of cooperative management framework (
WWAP, 2015
)”
Another illustration of the breakdown of the current system is of course the propagation of protectionism, bilateralism and the weakening of global multilateral institutions such as the WTO. There are also notable omissions in governance with respect to the lack of integration of regional institutions into the global governance framework, which significantly limits the capability of the world economy to launch new liberalization initiatives ...
