Found 294 article(s) in category 'Trade Policy'

Silk-Road Type Projects: Lessons From Some Historical Examples

Silk-Road Type Projects: Lessons From Some Historical Examples. Robert Z. Lawrence, 2016, Book Chapter. “China’s Belt and Road Initiative is a project of truly historic proportions. If successful, it has the potential to deliver significant benefits to China and its neighbors. To realize this potential, both China and the recipient nations must overcome numerous institutional challenges. This chapter draws on a variety of historical experiences to explore the nature of these challenges. It does so not to argue that history will repeat itself or to imply that the project replicates the precise conditions of the examples chosen but to reflect on what history tells us about both the potential and pitfalls that have been associated with such endeavors in the past.Link

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Treasury’s Unfinished Work on Corporate Expatriations

Treasury’s Unfinished Work on Corporate Expatriations. Stephen Shay, February 22, 2016, Paper. “Continued tax-motivated inversions of U.S. corporations into foreign corporations highlight the systemic tax advantages that a foreign-owned U.S. corporation has over a U.S.-owned corporation in avoiding U.S. corporate tax on U.S. business income. In the absence of congressional action, this article emphasizes the need for the Treasury to further reduce U.S. tax incentives for inversions and other foreign acquisitions of U.S. corporations. The two most important of the tax incentives are earnings stripping and the ability to use, directly or indirectly, a U.S. group’s unrepatriated foreign earnings for the benefit of shareholders of the foreign parent corporation without incurring current U.S. income tax. These tax advantages will not be meaningfully reduced by any plausible lowering of the top U.S. corporate tax rate. Moreover, earnings stripping would be exacerbated by adoption of a territorial system.Link

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Institutions, Institutional Change and Economic Performance in Emerging Markets

Institutions, Institutional Change and Economic Performance in Emerging Markets. Lakshmi Iyer, 2016, Book. “Emerging markets play an increasingly important role in the global economy, accounting for 31% of global GDP and more than 50% of global foreign direct investment in 2012. However, doing business in emerging markets remains subject to a high degree of “policy risk,” namely the risk that a government will discriminatorily change the laws, regulations, or contracts governing an investment — or will fail to enforce them — in a way that reduces an investor’s financial returns …Link

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What the WTO can learn from Paris climate talks

What the WTO can learn from Paris climate talks. Robert Lawrence, December 7, 2015, Opinion. “For many years, negotiators at the annual conferences of the United Nations Framework Convention on Climate Change looked longingly at how the World Trade Organization was able to negotiate effective international agreements. Ironically, the Paris climate talks that are scheduled to conclude on Friday and the WTO negotiations, which will take place next week in Nairobi, lead to the opposite conclusion. Trade negotiators should emulate the progress made in the climate change agreements by moving away from a simplistic division between developed and developing countries. For years, global climate change policy was hobbled by this division. In the Kyoto Protocol — the international agreement to reduce greenhouse-gas emissions — only developed countries committed to mandatory emissions reduction. Developing countries had no obligations. … Link

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The Import of Exports

The Import of Exports. Ricardo Hausmann, November 26, 2015, Opinion. “Should a country’s development strategy pay special attention to exports? After all, exports have nothing to do with satisfying their people’s basic needs, such as education, health care, housing, power, water, telecoms, security, the rule of law, and recreation. So why give precedence to satisfying the needs of distant foreign consumers? That, in a nutshell, is what many opponents of free trade and economic globalization – as well as many on the right who believe that all industries should be treated equally – want to know. But there are no right answers to wrong questions…Link

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Congress Should Vote Thumbs Up to Trade Deal

Congress Should Vote Thumbs Up to Trade Deal. Jeffrey Frankel, November 12, 2015, Opinion. “Now that the long-awaited text of the Trans-Pacific Partnership agreement has been released, Congress will have to decide whether to ratify it. It should vote thumbs up. Many who are concerned about labor and environmental issues are fervently opposed to TPP, but they should read the text with an open mind. It seems unlikely that they did so, judging by the speed with which some nongovernmental organizations and others reacted negatively to the document within a few hours of its release last week…” Link

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Working With a Rising India: A Joint Venture for the New Century

Working With a Rising India: A Joint Venture for the New Century, Nicholas Burns, November 12, 2015, Video. “What lies ahead for the U.S.-India relationship, and what should Washington put at the top of its India agenda? Over the past several months, the Council on Foreign Relations sponsored an Independent Task Force on U.S.-India Relations—co-chaired by Charles R. Kaye, co-chief executive officer at Warburg Pincus; and Joseph S. Nye Jr., university distinguished service professor at the Harvard Kennedy School of Government; and directed by Alyssa Ayres, CFR senior fellow for India, Pakistan, and South Asia—to examine developments in India, assess India’s likely future trajectory, and identify further opportunities for U.S. foreign policy. The Task Force finds that partnership with a rising India offers one of the most substantial opportunities to advance U.S. national interests over the next two decades, and urges U.S. policymakers to adopt a new approach to the U.S.-India bilateral relationship going forward—a “joint venture” for the new century.Link

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Working With a Rising India: A Joint Venture for the New Century

Working With a Rising India: A Joint Venture for the New Century. Joseph Nye, November 2015, Book. “Over the past ten years, India, the world’s largest democracy, has lifted more than 130 million people out of poverty. The country has rebounded from a recent economic growth slump, surpassing China this year to become the world’s fastest-growing major economy. “If India can maintain its current growth rate, let alone attain sustained double digits, it has the potential over the next two to three decades to follow China on the path to becoming another $10 trillion economy,” notes the Task Force. With Indian Prime Minister Narendra Modi’s prioritization of economic growth and foreign policy revitalization, the country now has a window of opportunity to either make the necessary reforms or risk being left behind. “[India] will have to decide whether it wants to become a major part of global trade flows and deeply integrated into global supply chains. Doing so would boost India’s efforts to grow its manufacturing sector and its economy; choosing not to will make that ambition harder to achieve.”Link

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Lessons Learned from Three Decades of Experience with Cap and Trade

Lessons Learned from Three Decades of Experience with Cap and Trade. Robert Stavins, November 2015 Paper, “The article discusses the important insights on the design and performance of emissions trading schemes that implemented over the past 30 years which provides lessons for future applications of environmental policy instrument. Topics discussed include emission reduction credit systems used in the Clean Development Mechanism (CDM) which is part of Kyoto Protocol, the Regional Clean Air Incentives Market (RECLAIM) in southern California, and the trading of nitrogen oxides in the U.S.Link

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