Chapter 12 - Chapter 12 A Sane Globalization By Joan Ezeogu...

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Chapter 12 A Sane Globalization By Joan Ezeogu
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Overview Rodrik concentrates on four (4) key areas where the challenges are namely: The World’s Trade Regime / International Trade Regime Global Finance Labour Migration How to accommodate China in the global economy
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Reforming the International Trade Regime Challenges with the International Trade Regime Current trade strategy needs redirection in priority, it: Wastes political and negotiating capital for prospect of small economic gains Neglects the lack of widespread support among ordinary people Import tariffs and other govt. restrictions on Int trade ↓ ≈ remarkably free world trade.
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Reforming the International Trade Regime What are Rodrik’s proposals for Reforming the International Trade Regime? Expand maneuvering room for individual nations. Create domestic space: Protect social programs and regulations Renew domestic social contracts Pursue locally tailored growth policies Bargaining about policy space than market access. Rewriting of WTO’s Agreement Safeguards to expand policy under a broader set of circumstances
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Reforming the International Trade Regime Wider interpretation of WTO’s Agreement Safeguards. Countries can exercise “opt- out” under legitimate grounds such as: Distributional concerns
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