Wednesday, November 05, 2014

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[IWS] ADB: From Spaghetti Bowl to Jigsaw Puzzle? Addressing the Disarray in the World Trade System [5 November 2014]

IWS Documented News Service

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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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Asian Development Bank (ADB)

ADB Working Paper Series on Regional Economic Integration No. 140

 

From Spaghetti Bowl to Jigsaw Puzzle? Addressing the Disarray in the World Trade System [5 November 2014]

by Jayant Menon

http://www.adb.org/publications/spaghetti-bowl-jigsaw-puzzle-addressing-disarray-world-trade-system

or

http://www.adb.org/sites/default/files/publication/148823/reiwp-140-spaghetti-bowl-jigsaw-puzzle.pdf

[full-text, 36 pages]

 

The rise of mega-regionals suggests that the world trade system is fragmenting. Returning to unilateral actions but involving the multilateralization of preferences is proposed.

 

The rise of mega-regionals suggests that the world trade system is fragmenting to the point it appears more like a jigsaw puzzle than a spaghetti bowl. There are both regional and global jigsaw puzzles to be solved—in that order—to rectify the situation but this appears impractical.

 

Therefore, a way forward is to return to the most widely used modality of trade liberalization—unilateral actions—but this time involving the multilateralization of preferences.

 

Contents

 

Abstract

Introduction

The Regional Jigsaw Puzzle

The Global Jigsaw Puzzle

The Way Forward

Conclusion

References

 

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