Production value chains in Asia and beyond will be severely affected by the US-PRC trade tensions.
Blog posts on "global trade"
Amid uncertainty over the evolution of the PRC-US trade dispute, markets in the region are taking a wait-and-see stance.
Asian policy makers must take proactive steps to turn a nascent upturn into a sustained boom. Missing the opportunity will have enormous costs.
Short-term gains will not guarantee long-term benefits for an individual economy, nor shared prosperity from open trade.
In today’s multipolar world, creating barriers to trade will invariably result in reciprocity, so in the end all countries will be worse off.
One plausible reason for the shock result could be unequal distribution of benefits from globalization and free trade.
We need to better explain and implement free trade agreements, support other fast-growing emerging markets, keep closing trade financing gaps, and embrace new technologies to bring in more players.
Regional solutions within Asia, reinforced by boosting inter-regional trade and investment with Europe as an engine of global growth, can help counter the threats to globalization.
The Regional Comprehensive Economic Partnership offers hope in in an ocean of trade policy pessimism.