September 8, 2011
WTO Report on Trade-Related Developments
On September 7, 2011, the World Trade Organization (WTO) released its latest report on trade-related developments worldwide, covering the period from October 2010 to April 2011. The report says that trade restrictions taken by WTO Members and Observers over the past six months have become more pronounced than in previous periods, including import tariffs, more non-automatic import licensing, and new export restrictions, as well as other, less visible discretionary administrative practices that can restrict trade. "The collective resolve and political courage to resist protectionism in the context of the global crisis which was a positive characteristic over the past few years may now be under stress," the report says. It calls for more self-imposed discipline along the lines of the G-20 and APEC standstill commitments. For a copy of the report, click here:
http://docsonline.wto.org/GEN_highLightParent.asp?qu=&doc=D%3A%2FDDFDOCUMENTS
%2FT%2FWT%2FTPR%2FOVW5R1.DOC.HTM&curdoc=13&popTitle=WT%2FTPR%2FOV%2FW%2F5%2FRev.1
Lamy Remarks in Delhi
In an address in Delhi on September 6th, WTO Director-General Pascal Lamy spoke on "the multilateral trading system of the future", warning of the serious challenges that threaten the world economic recovery. He noted that we have "moved from a financial crisis to a growth crisis," and outlined issues that the multilateral trading system of the future has to address, including the growing importance of the global value chain, the proliferation of preferential trade agreements, and global challenges not addressed under existing WTO rules; e.g., exchange rate, climate change, food security and energy policies. He concluded by calling for a more realistic approach to finishing the Doha Round. For a copy of the speech, click here:
http://wto.org/english/news_e/sppl_e/sppl205_e.htm
UNCTAD Trade and Development Report 2011
The UN Conference on Trade and Development (UNCTAD) recently released its "Trade and Development Report 2011: Post-Crisis Policy Challenges in the World Economy." The study examines issues within the currency, commodity, and financial markets and sets forth policy recommendations with the aim of "curbing financial speculation to prevent damages to the real economy" and "to enable a more stable macroeconomic environment and investment in real productive capacity." The report calls for restructuring the financial sector to reduce risk of mis-pricing, a clear separation between activities of investment and commercial banking, and increased transparency in physical and derivatives markets. For a copy of the report, click here: http://www.unctad.org/Templates/webflyer.asp?docid=15574&intItemID=6060&lang=1&mode=highlights
USITC Releases Report on U.S. Services Investment Abroad and U.S. Jobs
The U.S. International Trade Commission recently released a study on the relationship between investment abroad by U.S. services companies, and their employment in the United States. The study, entitled "U.S. Multinational Services Companies: Effects of Foreign Affiliate Activity on U.S. Employment," finds that investment abroad by U.S. services multinationals supports approximately 700,000 U.S. jobs. For a complete copy of the USITC study, click here:
http://usitc.gov/publications/332/working_papers/ServicesEmploymentWorkingPaperNEWFINAL8.23.11.pdf