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Spaghetti Bowl Effect
The spaghetti bowl effect is the multiplication of free trade agreements (FTAs), supplanting multilateral World Trade Organization negotiations as an alternative path toward globalization. The term was first used by Jagdish Bhagwati in 1995 in the paper: “''US Trade policy: The infatuation with free trade agreements''”, where he openly criticized FTAs as being paradoxically counter-productive in promoting freer and more opened global trades. According to Bhagwati, too many crisscrossing FTAs would allow countries to adopt discriminatory trade policies and reduce the economic benefits of trade. Context In 1947, the most economically prominent nations signed the multilateral General Agreement on Tariffs and Trade (GATT), whose main goals were to reduce tariffs and other trade barriers as well as eliminate discriminatory treatments between signatory countries. After gradual rounds of negotiations, more countries were integrated and tariffs were significantly reduced. The World Tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade Agreements
A free-trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occur when two countries agree to loosen trade restrictions between the two of them, generally to expand business opportunities. Multilateral trade agreements are agreements among three or more countries, and are the most difficult to negotiate and agree. FTAs, a form of trade pacts, determine the tariffs and duties that countries impose on imports and exports with the goal of reducing or eliminating trade barriers, thus encouraging international trade. Such agreements usually "center on a chapter providing for preferential tariff treatment", but they also often "include clauses on trade facilitation and rule-making in areas such as investment, intellectual property, government procurement, technical standards and sanitary and phytosanitary i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, quotas, and other restrictions; these agreements are signed by representatives of member governmentsUnderstanding the WTO' Handbook at WTO officia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Globalization
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20th century (supplanting an earlier French term ''mondialization''), developed its current meaning some time in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the post-Cold War world. Its origins can be traced back to 18th and 19th centuries due to advances in transportation and communications technology. This increase in global interactions has caused a growth in international trade and the exchange of ideas, beliefs, and culture. Globalization is primarily an economic process of interaction and integration that is associated with social and cultural aspects. However, disputes and international diplomacy are also large parts of the history of globalizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jagdish Bhagwati
Jagdish Natwarlal Bhagwati (born July 26, 1934) is an Indian-born naturalized American economist and one of the most influential trade theorists of his generation. He is a University Professor of economics and law at Columbia University and a Senior Fellow in International Economics at the Council on Foreign Relations. He has made significant contributions to international trade theory and economic development. He is widely regarded as the intellectual father of the Indian economic reforms of 1991. He is the only professor in American academia to have a chair named after him while he was still teaching at the university. He is one of only 10 scholars who hold the title of University Professor at Columbia University. Bhagwati is the recipient of several prestigious awards, including the Order of the Rising Sun, Padma Vibhushan, Frank Seidman Distinguished Award in Political Economy and the Freedom Prize of Switzerland. In 2014, the Financial Times called him “one of the most o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Agreement On Tariffs And Trade
The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 23 nations in Geneva on 30 October 1947, and was applied on a provisional basis 1 January 1948. It remained in effect until 1 January 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on 15 April 1994, as part of the Uruguay Round Agreements. The WTO is the successor to the GATT, and the original ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Doha Development Round
The Doha Development Round or Doha Development Agenda (DDA) is the trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001 under then director-general Mike Moore. Its objective was to lower trade barriers around the world, and thus facilitate increased global trade. The Doha Agenda began with a ministerial-level meeting in Doha, Qatar in 2001. The aim was to put less developed countries' priorities at heart. The needs of the developing countries were the core reasons for the meeting. The major factors discussed include trade facilitation, services, rules of origin and dispute settlement. Special and differential treatment for the developing countries were also discussed as a major concern. Subsequent ministerial meetings took place in Cancún, Mexico (2003), and Hong Kong (2005). Related negotiations took place in Paris, France (2005), Potsdam, Germany (2007), and Geneva, Switzerland (2004, 2006, 2008). Progress in negotiations stalled after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rules Of Origin
Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tariffs, quotas, trade remedies, in various cases, depends on the country of origin of the product at hand. Rules of origin have become a challenging topic in international trade, not only because they constitute a highly technical area of rule-making, but also because their designation and application have not been harmonized across the world. The lack of harmony is even more remarkable in the era of regionalism, when more and more free trade agreements (FTAs) are concluded, creating the spaghetti bowl effect. Definition of rules of origin The most comprehensive definition for rules of origin is found in the International Convention on the Simplification and Harmonization of Customs procedures (Kyoto Convention), which entered into forc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Value Chain
A global value chain (GVC) refers to the full range of activities that economic actors engaged in to bring a product to market. The global value chain does not only involve production processes, but preproduction (such as design) and postproduction processes (such as marketing and distribution). GVC is similar to Industry Level Value Chain but encompasses operations at the global level. GVC is similar to the concept of a supply chain, but the latter focuses on conveyance of materials and products between locations, often including change of ownership of those materials and products. The existence of a global value chain (i.e. where different stages in the production and consumption of materials and products of value take place in different parts of the world) implies a global supply chain engaged in the movement of those materials and products on a global basis. In development The first references to the concept of a global value chain date from the mid-1990s. Early references we ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a '' sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keio University
, mottoeng = The pen is mightier than the sword , type = Private research coeducational higher education institution , established = 1858 , founder = Yukichi Fukuzawa , endowment = N/A , president = Prof. Kohei Itoh , city = Minato , state = Tokyo , country = Japan , coor = , faculty = full time 2,791 , administrative_staff = full-time 3,216 , students = 33,437 , undergrad = 28,641 , postgrad = 4,796 , doctoral = 1,426excluding master course students as students in "Doctorate (prior)" , other_students = 0 In 2021, research students and auditors were not recruited due to the global epidemic of COVID‐19 (coronavirus disease). , campus = Urban , free_label = Athletics , free ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Association Of Southeast Asian Nations
ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration between its members and countries in the Asia-Pacific. The union has a total area of and an estimated total population of about 668million. ASEAN's primary objective was to accelerate economic growth and through that social progress and cultural development. A secondary objective was to promote regional peace and stability based on the rule of law and the principles of the UN Charter. With some of the fastest growing economies in the world, ASEAN has broadened its objective beyond the economic and social spheres. In 2003, ASEAN moved along the path similar to the European Union (EU) by agreeing to establish an ASEAN community that consists of three pillars: the ASEAN Security Community, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
