Events

The world economy did not collapse during the crisis. Nor did we witness a 1930s style spiraling protectionism. The big wave of globalisation reforms since the 1980s was not reversed. Yet the crisis prompted many governments to go for creeping and murky protectionism, and the crisis exacerbated some pre-crisis trends of economic nationalism and fear of foreign competition. How bad were these policies of crisis-related protectionism – and to what extent will they be a hinder for future economic development?

In a new paper Razeen Sally examines China’s trade policy since its accession to the WTO. China, he argues, has a mixed record on WTO implementation; a flurry of litigation has followed several years of diplomatic reconciliation in dispute settlement; and China has been passive in the Doha Round. In contrast, it has been very active with PTAs, setting off a “domino effect” in east Asia. But its PTAs are “trade light”, driven more by foreign policy than commercial considerations. Unilateral liberalisation – the driving force of external opening in the 1990s – has stalled. There has been very little “WTO-plus” liberalisation, while measures of selective protection, especially related to foreign investment and industrial-policy targeting, have increased. China’s response to the global economic crisis has reinforced these trends, but it does not represent a dramatic increase in protection or fundamentally reverse China’s opening to the world economy.

It is central to European recovery and fiscal consolidation that growth orbits to a higher trajectory. Yet EU growth forecasts do not make encouraging reading. The recovery has so far been aneamic and the outlook for the next few years is not much brighter. The European Commission estimates growth to be 1.5% this year and 2% in 2012. Clearly, Europe has a structural growth problem and needs to take structural reforms seriously. But what should be the central elements of a new growth and competitiveness agenda?

Europe is edging closer to the final decision on the EU-Korea Free Trade Agreement (EUKOR). After some delays, and political haggling between member states, it is soon time for the European Parliament to vote on the trade agreement. EUKOR is the first of the new FTA negotiations initiated under the EU’s Global Europe strategy to come to fruition, and it is an important element in Europe’s ambition to gain better access to Asia’s growth markets. Yet the opposition to EUKOR has at times been strong, and there have been lots of myths surrounding the agreement. What will EUKOR achieve – and what are the relevant costs and benefits? What will this agreement mean for the future role of bilateral FTAs?

New initiatives have now been taken to advance the Doha Round negotiations to a successful end. After years of stalemate, there is increasing optimism in the Doha talks and trade ministers decided during the Davos meeting in January that serious efforts should be made to conclude the Round before the end of this year. What are the chances for new efforts to bear fruit – and how do the negotiation dynamics need to change for deals to be struck? If past approaches by governments remain intact, the result will be the same as in the past. So: what needs to change?

What’s the role of intellectual property rights in a modern economy – and has the role changed with globalisation and the structural re-orientation of Europe’s economy?

Does the EU need agricultural tariffs and subsidies to ensure its food security? The food price surges in 2007/08 and the 2010 spike in wheat prices have pushed this question into the headlines, while climate change and global population growth fuel concerns about the EU’s long-term ability to produce and import sufficient food supplies. Note new venue: Rue Montoyer 47, Representation of North Rhine-Westphalia

What is the role of Europe in spearheading trade reforms and global economic recovery? And what leadership role for the global economy and global institutions can the EU shoulder?

How should EU-Taiwan relations be enhanced as Europe generally steps up its trade and economic profile in Asia? And will the Cross Straits rapprochement enable the EU and Taiwan to move forward towards closer economic integration? Please note: this seminar is held at Sciences Po in Paris.

The European Union is stepping up its trade and economic profile in Asia. A Free Trade Agreement (FTA) with Korea has just been signed, and negotiations of FTAs are under way with India and selected countries in the Southeast Asian region. Furthermore, there have been talks about a new trade agreement with Japan, and the EU and China have in the last years been developing a new format for improved bilateral trade integration. One question that arises is: what are the strategies for bilateral trade integration with Asian countries outside the current trade strategy?