Rebalancing Global Growth

Volume
14,
Number
3
-
16 September 2010
16 September 2010
Beyond Doha Round technicalities, the broader economic debate is focused on ‘rebalancing' trade, access to resources and stabilising food prices. The final communiqué of the G-20 summit in June was replete with references to ‘more balanced growth' and ‘rebalancing global demand'. The leaders agreed...
16 September 2010
Given the economic circumstances worldwide, it is hardly surprising that the exchange rate of China's currency has been the subject of a renewed wave of international attention. But even a considerable revaluation of the yuan is unlikely to right global trade imbalances. Trade deficits and high...
16 September 2010
Recent ministerial and senior-level gatherings have made no headway in charting a way forward for the Doha Round, and entrenched divisions were again on display at the WTO's Trade Negotiations Committee meeting in June. On 19-20 May, the European Union and India jointly hosted a meeting of senior...
16 September 2010
Delegates' lack of enthusiasm came through clearly in the chair's summing up of a week of NAMA (non-agricultural market assess) negotiations in May. The talks focused on non-tariff barriers, and the high point of the session was a ‘conceptual consensus' to change the word ‘barriers' to ‘measures'...
16 September 2010
The negotiating group on agriculture wrapped up a lacklustre year in early July with little evidence of progress. Despite a raft of studies on the potential impacts the special safeguard mechanism (SSM), delegates are no closer to agreement on how the system should operate. The purpose of the...
16 September 2010
In early May, WTO delegates gave a mixed welcome to proposed exemptions for developing countries from new disciplines on subsidies that contribute to an over-sized fishing effort and an alarming decline in fish stocks around the world. How to balance the need for effective disciplines to prevent...
16 September 2010
In June, the Council for Trade-related Aspects of Intellectual Property Rights addressed a number of contentious issues, including access to medicines and the enforcement of intellectual property rights, as well as a proposal to prohibit patents on biological resources. Enforcement of IPRs is a...
16 September 2010
After months of speculation, Brazil and India have launched a WTO dispute against the EU and the Netherlands over the seizure of generic drugs in transit. The complainants requested dispute settlement consultations on 11 May, citing a raft of EU and Dutch regulations that allow customs officials to...
16 September 2010
Just two days before trade sanctions were to be imposed in the cotton dispute, Brazil and the United States reached a compromise agreement, which may finally yield the subsidy reforms that Brasilia has been seeking from Washington for nearly a decade. The so-called ‘framework agreement for a...
16 September 2010
Zeroing Apparently eager to defuse trade tensions, the EU and the US on 8 September requested the suspension of a WTO arbitration that was to determine the level of retaliation the EU should be allowed impose on imports from the United States in compensation for inflated anti-dumping duties...
16 September 2010
The Doha Round could have a significant positive impact on world cotton prices, as well as production and exports in developing countries. However, the likelihood of such an outcome is highly dependent on the depth of the product-specific domestic support caps adopted by WTO members. Cotton has...
16 September 2010
What is a counterfeit medicine? The answer depends on who responds. To an English-speaking lay-person, it generally means ‘fake' or ‘a pill made of chalk'. To the World Trade Organisation, it means a ‘trademark infringement'. An illustration of trademark infringement would be someone else using a...
16 September 2010
The May annual meeting of the World Health Organisation was marked by a clash between developed and developing countries on the institution's approach to counterfeit medicines and the lack of progress in finding new ways to finance more research into tropical diseases. The most heated exchanges...
16 September 2010
The relationship between the protection of public health and intellectual property rights (IPRs) was among the most delicate topics in the free trade negotiations recently concluded between the EU, Colombia and Peru. This article analyses the outcome from the public health angle. The negotiations...
16 September 2010
The EU has concluded a free trade agreement with six Central American countries, with both sides expressing satisfaction over an ‘ambitious, comprehensive and balanced outcome'. In contrast, the revival of talks with agricultural powerhouse Mercosur, has angered many EU politicians. Heads of state...
16 September 2010
President Obama is increasingly under pressure to act on the unratified free trade agreements the Bush administration negotiated with South Korea, Panama and Colombia. At the June G-20 summit, President Obama announced his intention to resolve problems blocking the South Korean FTA by the group's...
16 September 2010
After months of outcry from technology exporters, the Chinese government is proposing to scale down the most draconian IP requirements for ‘indigenous innovation' products. In November 2009, China caused consternation in the international business community by issuing new rules for government...
16 September 2010
China has promoted indigenous innovation through an array of plans and measures in recent years. However, the moves, and particularly the newly launched national indigenous product accreditation system, have caused widespread concern about trade protectionism among foreign firms. While China has...
16 September 2010
In its latest report on food insecurity, the FAO asserted that 915 million people were undernourished in 2008, and the figure is estimated to rise to 1.02 billion in 2009. The alarming numbers raise the twin questions of how the estimates are derived and how reliable they are. An accurate...
16 September 2010
Even when the price of rice doubled and trebled in international markets, growers in the Philippines barely felt the tidal wave of money sweeping into the commodity. A representative of farmers from the rice-staple country, Raul Montemayor, described to a recent seminar on agricultural price...
16 September 2010
The IMF expects the combined public debt of Canada, France, Germany, Italy, Japan, the UK and the US to reach more than 113 percent of their GDP in 2010, a level not seen since 1950. High-income countries will need to cut government spending (or raise revenues) by 8.8 percent of GDP for a 20-year...
16 September 2010
Sept. 15-17 WTO Public Forum: The Forces Shaping World Trade Sept. 21 Dispute Settlement Body Sept. 27 Committee on Agriculture (negotiations) Sept. 29-30 Committee on Trade and Environment Sept. 30 Council for Trade in Services Oct. 4-8 Negotiating Group on Trade Facilitation Oct. 7 Committee on...
16 September 2010
Dispute Settlement. 30 June 2010. European Communities and Certain Member States - Measures Affecting Trade in Large Aircraft. Report of the Panel (WT/DS316/R) Dispute Settlement. 9 May 2010. European Union- Seizure of Generic Drugs in Transit. Requests for consultations by India (WT/DS408/1) and...