The new terms of trade
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The new terms of trade

In this 2005 Lowy Institute Paper, Mark Thirlwell surveys the changing international trade landscape. The inability of policymakers to deliver the Doha Round has become a powerful symbol of the growing strains on the multilateral trading system.

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Executive Summary

Meanwhile, frustrated by Doha’s stagnation, policymakers have turned to bilateral and regional trade deals, creating an ever-expanding web of preferential trade agreements. These policy shifts are occurring at a time when China’s manufacturing might and India’s services-based export model have contributed to a fundamental reshaping of the international patterns of trade flows.

The Paper can be downloaded here.

Areas of expertise: Global economy / global economic trends; globalisation; rise of new economic powers; geo-economics; global economic governance (G-20)