Trade shifts
In the second half of the 20th century, globalization brought a boom in international trade. The rapid change that came with it has led to a backlash, with most countries erecting protectionist barriers. Governments are increasingly using regulations, red tape and tariffs to achieve domestic and foreign policy goals. Highly intense trade disputes, however, can break the ice and lead to results and unexpected benefits.
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The future of free trade
Free trade is undergoing a dip in popularity, as it gives way to economic nationalism in many parts of the globe. Much of this comes down to the WTO and its failure to rein in China’s unfair economic practices since 2001. Washington wants to bring about fundamental changes in the organization, while Beijing resists them. With the WTO hamstrung, there is no enforcement of international trade rules. That could hinder the global post-Covid economic recovery.
Opinion: Toward a different globalization
In the Western world, middle-class citizens are demanding that decent-paying jobs be brought back. This could lead to less labor movement across borders. Furthermore, the drop in pollution during the COVID-19 lockdown could increase the push for more environmentally-friendly development. To answer these expectations will require unprecedented levels of supranational ...
Britain will thrive after Brexit only if it dares to reform
Leaving the high-cost, bureaucratized European Union is not enough for the UK to unleash its entrepreneur potential, boost its share in global trade and return to high growth. To bring benefits, Brexit would need to be followed by bold liberal reforms: cutting taxes, rolling back government spending and reducing excessive, ...
High hopes for the African Continental Free Trade Area
The launch of the African Continental Free Trade Area (AfCFTA) has come with high hopes for a boost in economic activity and development. But free trade agreements in themselves are no silver bullet for backward economies. Especially in Africa, institutional reform, infrastructure improvement and the reduction of nontariff barriers will ...
The EU’s next challenge: Emerging markets
For the global economy, the road ahead is unusually clear – it is headed for a gentle slowdown. But that is no reason for complacency. The next wave of trouble is already visible in the developing countries, which are highly vulnerable to rising interest rates. The EU could do much ...
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More Disruptions
Expanding state
A trend toward increased government influence in economies and personal life is curbing growth, and freedom, in many Western countries. The outsized role of government results in misplaced incentives, overregulation – which restrains markets and competition – and irresponsible budgetary ...
Middle East politics
The region, one of the cradles of civilization, is going through a turbulent period of historic realignment. Its powers are vying for political, military, economic and religious dominance with local players and outside actors. Armed conflicts, mainly civil wars, are ...
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