Global Trade: Past Mistakes, Future Choices

Front Cover
Zed Books, 2005 - Business & Economics - 294 pages

Trade, along with the free movement of capital, is at the heart of today's international economy. But international trade is an intensely political and contested subject. In this book, Greg Buckman details possible future directions in global energy supplies and balance-of-payments imbalances. He argues that, just as current trading arrangements have been the product of past decisions emerging out of apparently unrelated considerations, so factors like future fossil fuel costs, global warming, and the economic imbalances between North and South are likely to impel a radical reshaping of the WTO and the principles enshrined in its agreements as well as the global trading system in general.

A key contribution to thinking about possible trade policy reforms are the reforms and alternatives - themselves not always agreed or sufficiently thought through -- advocated by the global justice movement. This book outlines these diverse proposals to make global trade more sustainable in some detail.

This book has been written to be both informative and empowering. It is an important contribution to clearer thinking, more effective campaigning, and fundamental policy reform in the field of international trade.

 

Contents

European global exploration
6
Adam Smiths Wealth of Nations
13
World trade in the twentieth century
20
Changing global trade players
29
Global trade negotiations
37
The Uruguay Round
44
New issues in the Doha Round
62
Negotiating tactics within the
68
Global poverty
143
Changes in global inequality both within and between countries
151
Trade and the environment
159
The environmental impact of the
165
The environmental impact of foreign investment
173
The future of
183
Future world oil demand
189
The peaking of global oil supply
195

Regional trade deals
74
Highincome countries and trade
83
Highincome countries client state relationships with lowincome
91
The downsides of trade liberalisation in highincome countries
99
Lowincome countries and trade
106
Future trade relations between lowincome countries
112
The myth of lowincome country manufacturing export growth
120
Challenges confronting lowincome countries trade
128
Trade poverty and inequality
134
Global warming
196
The Bretton Woods exchange rate system
211
The trade plight of least developed countries
224
Common trade policies of the global justice movement
239
Ideological battles within the global justice movement
255
lessons for the future
269
Suggested reading
283
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About the author (2005)

Greg Buckman is former national finance manager for the Wilderness Society of Australia and is currently treasurer of the Australian Greens. He is also a past co-editor of their magazine, Green. He has undertaken extensive economic research, particularly on issues concerning globalization, forestry and energy. His long involvement with the environment movement goes back to the successful international fight to save the Franklin River in Tasmania in the early 1980s. He is also the author of Globalization: Tame it or Scrap it? published by Zed Books in 2004.