The first two sentences delivered by the U.S. representative at the 3rd session of FfD4 Preparatory Committee (3rd PrepCom) last week were already tough ones: “At the outset, I underscore that the United States is currently evaluating its membership and participation in all international organisations and processes. Thus, we are reserving on the whole draft…
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The current debate on the Investment Facilitation for Development (IFD) Agreement could be very consequential for the World Trade Organization (WTO) although it is not part of the official calendar of next week’s 13th Ministerial Conference (MC13) in Abu Dhabi. …
Under US President Joe Biden America continues to threaten the rules-based world economic order and is pushing the trend towards de-globalization. Although the new Biden administration rhetorically seeks more „values“ and the „community of democracies,“ the United States is still at its core seeking to protect its national interests with all its economic and military power.
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The world is grappling with a deadly pandemic unleashed on the planet by the Corona Virus (SARS-CoV-2/ HCoV-19). In its wake, the votaries of globalisation who have been espousing the cause of a borderless world of business with seamless flow of international trade, capital and even human resources across the world seem to be stung by a creepy realization whether the paeans sung by them were all worth the effort. More than the social and cultural aspects of globalisation, its economic manifestation in the form of product market integration with concomitant cross-border value chains has been credited with having contributed richly to the growth of the global and national economies. Today, more than half the world has locked down their economic, social, political and cultural activities to arrest the spread of the corona virus that has already infected nearly eight million patients world-wide and claimed over four hundred thousand lives as on the 15 June, 2020.…
Emerging countries such as Brazil, Mexico, India, China, Korea, Thailand, Indonesia and to a lesser degree, Vietnam and Turkey have actively and successfully invoked the World Trade Organization (WTO) dispute settlement system (DSS) to defend their commercial interests. With increased participation in world trade, their stake in an effective compulsory and binding mechanism for resolving…
