Brexit represented British voters’ desire to reclaim more control over their economic future, but some worry the cost will be some of the prosperity gained from globalization.
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President Trump has unilaterally raised tariffs and sparked trade wars, all without consulting Congress. A century ago, the roles were reversed.
Trump’s embrace of bilateralism in trade relations has pernicious long-term consequences, including ratcheting up the odds of violent conflict.
A quarter-century ago, more than 100 nations agreed to engage in freer trade with one another and signed the declaration that established the World Trade Organization.
Trump has often talked about leaving the World Trade Organization. An economist explains what it is and what would happen if the president had his way.
International trade policy requires three traits to be successful and lead to mutual prosperity. Trump’s is missing all three, as he showed at the G-7 summit.
With no sign of resolution in the near future the collapse of multilateral trade negotiations, tagged as the Doha round, risks breeding a major crisis.
Kontributor teratas
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Associate Professor of Economics, University of South Carolina
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Professor of International Relations, American University School of International Service
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Associate Professor of Political Science, Georgia State University
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Distinguished Professor, Arthur J. Gosnell Professor of Economics, & Interim Head, Department of Sustainability, Rochester Institute of Technology
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Director of the Nelson Mandela School of Public Governance, University of Cape Town
