Trade

Retail therapyWhen even the normally unflappable Trade Minister Simon Birmingham bluntly tells business to reduce ties with the country that has underpinned the Australian economy for two decades, a mood shift is afoot. It took some prodding, but Birmingham finally broke cover at the end of his ABC&

Earlier this week, New Zealand moved out of total lockdown into a phase of continuing control on social movement, but with an opening of widespread economic activity. Schools reopened partially. It is estimated that about half a million people returned to work after a stand down of five weeks.

What impact will coronavirus have on economic globalisation, the force that has so momentously changed our world over the last half century? An early example is the global trade in medicines and medical products, especially those essential to fighting coronavirus such as face masks, ventilators

It may go awry between now and the promised finalisation in January, but both the US and China now agree that phase one of the most difficult bilateral economic negotiation in recent decades is over. Unusually for this negotiation, the two sides also seem to agree on what they have agreed – at

After a roller-coaster ride spanning 18 months, the trade war between the United States and China is finally showing signs of abatement, with the two sides confirming that they are close to the conclusion of a phase-one deal. While the signing of the deal, which was originally scheduled to take

Market day For two generations, the term “Factory Asia” has neatly encapsulated the essence of the region’s economic success, with components flowing across the region for products mostly ultimately exported to the developed world. But as Asia embraces its first regionwide trade deal this

E-bills, e-signature, the electronic transfer of funds – advancements in technology are bringing about remarkable changes in the business landscape, domestically and internationally. All this change is facilitating the faster movement of goods across borders and forcing governments to keep pace.

Despite the modern proliferation of free trade agreements, there is an enormous gap between free trade as it is understood and advocated by those who benefit from it, and free trade as it is practiced today. The understanding of economic integration is diverse and complicated – at its heart sits a

While President Donald Trump’s bull-in-a-China-shop approach to reforming international trade doesn’t appeal, it is possible that some of his objectives might make sense. This was the logic behind comments by former Barack Obama adviser Daniel Russel, suggesting that Australia

With resumed contact between US trade negotiator Robert Lighthizer and China’s negotiator Vice Premier Liu He, the 12th round of trade talks between the US and China may take place in Beijing before the end of July. But the clock is now ticking very loudly. Contrary to the messaging from Beijing

Data, debt and plastic dumping The prospect that China and the US are now going to use next week’s Group of 20 nations summit in Osaka to extend their trade negotiations rather than take them to the precipice may give some new life to the rest of the agenda.  Japan’s Prime Minister

The US-China trade war is viewed by many as a dark cloud over the global economy. So why is Australia’s ambassador to the US, Joe Hockey, seemingly urging Trump to go harder, and not settle for a “pyrrhic victory” that fails to resolve long-term differences between the US and China? In

What’s in a name? According to US President Donald Trump, it is the difference between the “worst trade deal ever made” – as he called the North American Free Trade Agreement (NAFTA) – and a “wonderful new trade deal” – his reference to the United States-Mexico-Canada Agreement (

Amid the clamour of the current shouting-match about tariffs, two sometimes-forgotten facts in international trade should be noted. First, tariffs are not the only distortion. Second, none of the countries involved in the current battles is without sin when it comes to trade restrictions.

Agree or disagree with his conclusions, we owe Hugh White thanks for forcing us to grapple with “the China challenge”. White’s writings have stripped away much of the easy, high-sounding rhetoric about dealing with Beijing and honed in on the central feature of US–China relations in the

This is the first in a three-part series on the future of world trade from a global (part 1), Asia Pacific (part 2) and Australian (part 3) perspective. Is protectionism on the rise? As we moved into 2017 the conventional wisdom was 'yes'. The G20 warned about it in 2016. The annual January

Prime Minister Turnbull yesterday carefully signalled a potential India-Australia Free Trade Agreement is not a priority for his government. This comes after the Abbott Government set a very public benchmark for concluding an India-Australia FTA by the end of 2015, an overly optimistic commitment

Now that the terms of the Trans-Pacific Partnership (TPP) have been agreed, the participant countries have to decide whether to ratify the deal. In assessing the benefits, where might we turn for guidance on the economics? First thoughts might go to David Ricardo, father of one of the few ideas

With the text of the Trans-Pacific Partnership (TPP) finally revealed, commentators, specialists and interest-groups can immerse themselves in the 6000 pages (with important side-letters still to come) of the agreement. But the nature of the discussion will change now that the negotiation is

After marathon talks, the Trans Pacific Partnership has been sealed. The stage is now set for some fantastic battles to get this through national legislatures. I'll leave it to others to count the numbers. I've written previously about my concerns regarding the TPP, and agreements like it. I won't

Now that Congress has provided President Obama with Trade Promotion Authority as we enter the last phase of the TPP negotiations, the treaty seems likely to go ahead. What is left for Australian authorities to think about? While the TPP draft will come before the Australian parliament for

One aspect of the Trans-Pacific Partnership (TPP) that has come under criticism is the lack of transparency in the negotiating process. Could a more transparent model be used for these kinds of negotiations? In other areas of official decision-making, recent decades have seen a big shift towards

Earlier posts have discussed how the Trans-Pacific Partnership (TPP) – if it comes into force – will be part of the process of setting global rules across a wide range of issues, including intellectual property rights. The just-released Harper Competition Policy Review notes the importance