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The global economic edifice built after World War II is a source of unprecedented prosperity. It cannot function without open and predictable international trade, and the peaceful international relations that are its foundation. The rules that enable trade are under attack. Social divisions and great power rivalry have eroded the political support for open trade. The consequence is fragmentation of world trade, its separation into blocks that advance domestic producers or favored nations nearby. These blocs are themselves often pulled apart by competing agendas. The prospects are for vastly reduced economic efficiency and - most ominously - heightened geopolitical tensions. The questions about why this is happening, how economic fragmentation will evolve, and how to respond to it, are uppermost in the minds of policymakers and businesses across the world. These are the questions that Uri Dadush seeks to answer. Since the uncertainty cannot be dispelled, it must be better managed.
Published | Sep 15 2024 |
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Format | Hardback |
Edition | 1st |
Extent | 226 |
ISBN | 9781666929362 |
Imprint | Lexington Books |
Illustrations | 10 Tables, 18 BW Illustrations |
Dimensions | 0 x 0 inches |
Publisher | Bloomsbury Publishing |
Uri Dadush shows in this exacting book that the observed fragmentation of international trade is a cost in terms of lost welfare but also (and crucially so) it represents a threat towards the continued existence of the international regime as we know it. This book is necessary reading for policy-makers, and academics interested in the ongoing debate about the shaping of world relations.
Petros C. Mavroidis, Columbia Law School
Uri Dadush’s Geopolitics, Trade Blocks, and the Fragmentation of World Commerce skillfully guides readers—analytically and geographically—through the new world of trade. Looking beyond the catchalls of globalization and protection, Dadush reveals the dynamism and adaptability of the trading system in the face of big shifts—including great power rivalries, technological change, climate rules and subsidies, regionalization, and new barriers. He concludes by offering practical counsel—and a possible pathway—for the two most important economies, the United States and China, to accommodate their rivalry within a system of rules and a modernized WTO.
Robert B. Zoellick, former US Trade Representative, President of the World Bank and US Deputy Secretary of State
Geopolitics, Trade Blocks, and the Fragmentation of World Commerce offers a comprehensive and nuanced analysis of crucial topics in world trade, underpinned by extensive and high-quality data. Particularly valuable is the author’s thought-provoking analysis of the 'why' behind the changes and challenges in world trade, stimulating new thinking in relation to both the issues and solutions to address them. Furthermore, the book provides an invaluable analysis of Chinese economic and trade policy, especially in the context of the US-China trade war, offering an essential perspective on China's strategic considerations and approaches in dealing with these complexities. It is a remarkably accessible and well-structured guide for experts and general readers who are interested in world trade.
Jean Dong, Author of Chinese Statecraft in a Changing World: Demystifying Enduring Traditions and Dynamic Constraints
Uri Dadush is one of the most acute observers of the trends that shape trade and investment flows internationally. His research is as rigorous as his approach is original. Geopolitics, Trade Blocks, and the Fragmentation of World Commerce surely is one of the best works published on this subject in recent years. A must read.
Moises Naim, Distinguished Fellow, Carnegie Endowment for International Peace, and author of The Revenge of Power
This is a must-read, beautifully written, brilliant book on a topic of immense importance -- the future of global trade. Uri Dadush is one of the world's premiere applied trade economists with full command of theory, policy, institutions, geopolitics, history, and, above all, the facts. Is free international trade coming to an end? Dadush's striking, convincing answer to this mega question will please some, disturb others, but convince all.
Laurence J. Kotlikoff, professor of economics, Boston University
At a time when trade and globalization have become bad words, Uri D. Dadush shows us that the situation is worrying, but not hopeless. The global trading system is broken, but there is still time to save it. This book gives an interesting perspective of how we got where we are and how we, mainly the US and China, can avoid further fragmentation.
Cecilia Malmstrom
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