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Trade Regionalism in the Asia-Pacific: New Game, Old Rules?

Swarnim Wagle's picture

What's the next move in the major economies' Great Game? Source - wonderkris.Editor's Note: This blog draws on the forthcoming article “New Trade Regionalism in Asia: Looking Past the Sino-American Great Game," written by Swarnim Wagle, to be published in the Global Emerging Voices 2013 Working Papers. 
 
Negotiations over one of history’s most ambitious trade deals have taken another step towards defining the future of Trans-Pacific trade.
 
The latest round of discussions on the Trans-Pacific Partnership (TPP) wrapped up this past weekend in Salt Lake City, Utah. Negotiators are believed to have made headway on a number of thorny issues, clearing the way for ministerial talks to be held in Singapore, Dec. 7-10.   
 
The TPP will draw together 12 countries dotting the perimeter of the Pacific—Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. But it’s the United States’ efforts to spearhead the talks that have attracted the most attention. Concerns over a lack of transparency and the intrusive scope of the agreements’ provisions into national policymaking have led many to question its objective.
 

Indonesia’s “continuing adjustment”

Alex Sienaert's picture


2013 has been a year of adjustment for Indonesia’s economy.  In the recent edition of the Indonesia Economic Quarterly report, the flagship publication of the World Bank Indonesia office, we asked the questions: what are the drivers of this adjustment and how should policy respond?

What Policies Will Allow Russia Achieve Environmentally Sustainable Growth?

Adriana Jordanova Damianova's picture

The Russian Federation’s accession to the World Trade Organization (WTO) is an event of exceptional importance.  On many levels, there are concerns that the environment in Russia will  be negatively affected by trade liberalization.   A growing body of research looking at economic and physical linkages between trade, environment and development shows that  these linkages are often complex and interdependent. 
 
Scientists have implicated that from an economic perspective, trade liberalization and environment are related because most economic output is  based on input from the environment, including the energy for processing them, and waste released to environment.  However, the effect of trade liberalization  on the environment would vary depending on  sector, country policies, markets, technologies and management systems. Changes in environmental quality as a result of potential expansion of “dirty industries” (e.g., ferrous and non- ferrous metals, chemicals) could be mitigated by effective and transparent enforcement mechanisms.  Russia’s economic gains from trade liberalization are estimated at  about $49 billion annually.  For these gains to be environmentally sustainable, it will be crucial to implement complementary “do-no-harm” policies tailored to address environmental concerns. This  will be pivotal in  sustaining the sources of gains from WTO accession in the long run.
 
So how does trade liberalization affect environmental quality?

China’s Third Plenum: Much will Change - for Other Developing Economies Too

Manu Bhaskaran's picture

CN142S09 World Bank Some observers caution that the reforms proposed by the Chinese Communist Party (CCP) after the Third Plenary meeting of its Central Committee may fall short of promise because of resistance from vested interests or a lack of political will. My view is that it will bring about fundamental changes in China for one simple reason - politics. First, the CCP leadership fully understands that the party has lost the trust of the people because of rising corruption and cronyism, increasingly offensive income inequality, huge question marks over food safety, and worsening pollution. Second, they realize that the current economic model cannot sustainably deliver the economic progress that citizens expect in return for their allegiance to the CCP. The CCP leaders know that fundamental changes are needed to this economic model to regain the trust of the people. Since survival demands big changes, the leadership will pull out all the stops.

What Should Illegal Logging and Illegal Fishing Have in Common?

Julian Lee's picture
Fishing off the coast of Namibia. John Hogg/World BankThe value of the fishing and aquaculture industries exceeds US$190 billion annually and an estimated 240 million people depend on marine fisheries for their jobs. There’s no doubt that oceans generate big business. And where there’s profit to be made, there are sure to be people who don’t play by the rules. As a result, an estimated 18 percent of global fishing happens illegally.

Why should this matter to people who care about development? Illegal fishing can undermine the livelihoods of poor people who depend on the ocean to make a living. The evasion of tax and royalty regimes can deprive developing countries up to hundreds of millions of dollars a year in much-needed revenues. In some regions, the rate of illegal fishing is high enough to endanger the sustainable management of a resource already stressed by overfishing.

Women and Trade in Africa: Putting a Face to the Research

Maura K. Leary's picture

This past May, I traveled to Kenya, Uganda, and Tanzania to produce “Mind the Gap: Gender Equality and Trade in Africa” with a Nairobi-based film crew. As I headed off on my first official trip, I read and re-read the chapters that this film was designed to complement — all part of a fantastic new book, “Women and Trade in Africa: Realizing the Potential.”  I felt very comfortable with the facts and figures — tourism in Kenya accounts for 12.5 percent of GDP; cotton is the third largest export in Uganda; small business owners are a huge part of Tanzania’s export economy, etc. — but did not fully understand the situation we were trying to explore until I met Mary.

Women and Trade in Africa: Essential to the Continent's Success

Catherine Sear's picture
New Short Film: "Mind the Gap: Gender Equality and Trade in Africa"


Women in Africa participate in trade in many ways. They are informal cross-border traders. They produce traded goods and services. They are rural farmers and they are professionals, providing legal and accountancy services. Many are also entrepreneurs with dominant ownership of exporting companies. Women are—and will be—essential to the continent’s success in the global marketplace.
 

We’re Seeking 18 Dynamic Leaders to Help Us Meet Our Goals

Keith Hansen's picture

The World Bank Group is searching internally and globally for 18 experienced and driven professionals to help achieve two ambitious goals: reducing the number of people living on less than $1.25 a day to 3% by 2030 and promoting shared prosperity by fostering the income growth of the bottom 40%. These leaders will be crucial to our plan to improve the way we work, so we can deploy the best skills and expertise to our clients everywhere, to help tackle the most difficult development challenges around the world.   

Last month, the Bank Group’s member countries endorsed our new strategy which for the first time leverages the combined strength of the WBG institutions and their unique ability to partner with the public and private sectors to deliver development solutions backed by finance, world class knowledge and convening services.

Instrumental to the success of our strategy is the establishment of Global Practices and Cross-Cutting Solution Areas, which will bring all technical staff together, making it possible for us to expand our knowledge and better connect global and local expertise for transformational impact. Our ultimate goal is to deploy the best skills and expertise to our clients at the right time, and become the leading partner for complex development solutions.

We are accepting applications for the Global Practice senior directors who will lead these pools of specialists in the following areas: Agriculture; Education; Energy and Extractives; Environment and Natural Resources; Finance and Markets; Governance; Health, Nutrition, and Population; Macroeconomics and Fiscal Management; Poverty; Social Protection and Labor; Trade and Competitiveness; Transport and Information Technology; Urban, Rural, and Social Development; and Water.

Growth in Greece? A Logistical Possibility

Daria Taglioni's picture

The Partnenon in Athesn, Greece. Source -  Nicholas Doumani.More than 95 percent of goods traded between Europe and Asia are transported via deep sea. All of this happens through two primary routes-- some serious traffic. But it's far from stop-and-go. In fact, most doesn’t stop at all.

Large container ships leave ports in Asia and proceed directly to Rotterdam, the Netherlands. Many choose to get there by passing through the Suez Canal, entering the Mediterranean, and bypassing its bygone empires.

One of these ancient powers, Greece, now finds itself in a marginal position on the logistical map of Europe. Despite being geographically and economically well located, it’s far from being the hub it once was. The World Bank’s International Trade Unit and the Transport Unit of the World Bank’s Vice Presidency for the Europe and Central Asia Region recently teamed up with the government of Greece to find out how the country can capture a share of the world’s growing East-West trade and kick-start an economy that has been struggling to maintain GDP growth after the global economic crisis.
 

Travel Channel Meets Discovery Channel: How Tourism Can Promote Export Performance and Diversification

Gonzalo Varela's picture

Folded pashminas on display in China. Source - Ashley Wang. We all enjoy a nice vacation. Today, tourism has become a major driver of economic growth around the world. But measuring its impact, either directly or indirectly, is an evolving exercise.  

Our new research unveils a strong association between tourism inflows from a particular country and increases in exports of traditional or “exotic” goods to that same country the following year. In other words, tourism not only helps local vendors sell goods to people on vacation, but also works as a springboard for promoting traditional products abroad once that vacation is little more than a memory.
 


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