WTO Implementation Research Articles

Trade Liberalisation Could Improve Producers Profitability in Agriculture: A Case of Basmati Rice.

This peace of research has been conducted, as part of PhD research of the first author, with the objectives to (i) identify various protection policies and interventions exercised in Basmati rice economy in Pakistan (ii) estimate welfare effects associated with existing protection policies and (iii) to estimate implications of WTO’s trade liberalisation in domestic economy and foreign markets. The quantitative analysis of data reveals that Basmati rice crop hanged about ‘price tax-cum-export tax’ regime during the study period. Welfare analysis of such policy interventions estimated higher losses to producers (Pak Rs 657.95 million per year) than gains to consumers (Rs 448.76 million per year) during pre-WTO period. The same trend continued during post-WTO period but producers’ losses were comparatively smaller i.e., 649.48 million per year. In case of free trade, simulation results demonstrate greater gains to producers than losses to consumers. If world market was liberalised, supplementary gains in the range of Rs 276.65 million to Rs 451.60 million per year during earlier and Rs 333.45 million to Rs 637.40 million per year during the later period would have occurred at domestic level. In light of analytical results, the following recommendations are made. (i) Government needs to curtail interventions in Basmati rice economy. (ii) Besides, improving the pace of trade liberalisation at domestic level, Pakistan should pursue with other members in WTO’s negotiations for early implementation of WTO’s trade liberalisation on international level. (iii) Government of Pakistan should gear up its efforts as facilitator of trade in accordance with WTO agreements and increase investment in areas of research, development, and out-reach. JEL classification: Q17, Q18, Q28 Keywords: Basmati Rice, Government Intervention, Welfare Effect, Trade Liberalisation, WTO.

Implementation of WTO and Korea-US FTA Panel Decisions and Retaliation in the Era of Trumpism

Implementation of WTO and Korea-US FTA Panel Decisions and Retaliation in the Era of Trumpism

Spillover Effects among the Main Stock Markets in China’s Capital Market Opening Process

With the opening and development of China’s capital market, mainland China and the world’s stock market is increasingly close. This paper explores the volatility spillover effect between China’s stock market and the world’s major ones to study the transmission path of stock market risk and provides policy suggestions for promoting development of China’s stock market. We selected daily returns of four large indices from December 26, 1996 to March 1, 2016 as the main object to study and analyze Shanghai Composite Index, Hong Kong Hang Seng Index, American Dow Jones Index, and British Financial Times Index. According to the different degree of openness of China’s capital market, the samples are divided into five sub-stages. Granger test and DCC-MGARCH model are used to analyze the causal relationship and dynamic correlation of the mainland stock market and the major ones in the world. To avoid the volatility and risks, we found corresponding measures. The empirical results show that the implementation of WTO and the QFII system cannot effectively promote the internationalization of the stock market in China. However, the exchange rate reform of RMB and Shanghai-Hong Kong Stock Connect Program have greatly improved the linkage between Chinese and international stock markets.

Yenkong Ngangjoh Hodu and ZHANG Qi, The Political Economy of WTO Implementation and China’s Approach to Litigation in the WTO

Yenkong Ngangjoh Hodu and ZHANG Qi, The Political Economy of WTO Implementation and China’s Approach to Litigation in the WTO

The Implementation of WTO and its Impact on Pakistan External Trade

The Implementation of WTO and its Impact on Pakistan External Trade

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This article tries to explain about the institution of international political economy, especially the WTO as a multilateral trade organization that has created unequal relationship between the developed and the developing countries. WTO as the only international trade organization should be able to create a fair global trade flows and balance among its member countries. But in fact, the WTO actually deepen the gap between developed and developing countries. Many of agreement that born from WTO are not implement as expectation. The implementation of WTO’s agreement just make developing countries more suffer. This resulted in the emergence of criticism from developing countries and one of the globalization’s figure, especially transformasionalist-globalist i.e Joseph E. Stiglitz. Seeing the reality of injustice in WTO, Stiglitz then argued for reforms the structure and system inside of WTO, so it can be an institution of fair trade and friendly to the developing countries.

Diversification into Technical Textiles: A Forward Momentum for Indian Textiles Industry

Historically, the Indian textiles and clothing industry has comparative advantage in production and exports which could not be fully utilized because of quantitative restrictions imposed by her major export markets such as USA and European Union. It was therefore, envisaged that with the implementation of WTO’s agreement on textile and clothing (ATC) in 2005 the country would become more successful in global markets. Although in the initial two years of phasing out of quotas, the industry performed better, but the gains could not be sustained. Global recession further added to the crisis and industry is still struggling to come out of the turbulent times. In such a scenario, rigorous product diversification into technical textiles can take the industry to new heights. Demand of technical textiles is tremendous and growing steadily and it is the right time to enter this segment to convert the opportunities into realties. In this background the paper first underscores the turbulent times for Indian textiles industry and then suggests the industry specific actions to be taken. It then defines the technical textiles in its historical perspective, and emphasize upon the diversification into technical textiles to get a forward momentum for sustainable recovery and lists out the international and domestic opportunities that can be grabbed by the entrepreneurs in the area of technical textiles.

The Unwanted Service Provider: Implementation of WTO and EU Liberalisation of Service Mobility in the Dutch Legal Order

The Unwanted Service Provider: Implementation of WTO and EU Liberalisation of Service Mobility in the Dutch Legal Order

Challenges for WTO Implementation: Lessons from China's deep integration into an international trade regime

China's formal accession to the World Trade Organization begins a process of deep integration that will require the implementation, monitoring and enforcement of newly harmonized standards. This article identifies challenges in that deep integration process, drawing on data from China's ten-year struggle to implement, monitor and enforce international standards for the certification and marketing of organic agriculture products. The political economy of rural China is described as a fragmented entrepreneurial state in which officials use state authority to privilege market activity. This creates a set of structural barriers and elicits local state resistance to the implementation of international trade regimes. State entrepreneurs pursue alternative forms of compliance, disguise state participation in the market, and exploit their control over information, in an effort to resist monitoring and enforcement regimes.

U.S. Implementation of WTO Turtle/Shrimp Decision

U.S. Implementation of WTO Turtle/Shrimp Decision

Editorial. The enduring enigma of TRIPS: a challenge for the world economic system

This special issue on trade-related aspects of intellectual property rights (TRIPS) is introduced with a perspective that focuses on the urgency of narrowing the gap in living standards between the rich nations and the poor. The 1997/98 world economic crisis highlights the question of whether creating an international market in intellectual property sufficiently addresses the interests of developing countries in the diffusion and use of knowledge. It is suggested that substantial intervention by international institutions with interests in promoting development is also required. The role of IPRs in economic development is analyzed, and this contribution points to a few areas in which consensus among international IPRs specialists is emerging. Among these is that the role of IPRs is context-sensitive, depending on the particular characteristics of countries in which IPRs systems are introduced, and depending on the specific industries in which these IPRs are employed. This context-sensitive role argues for flexible implementation of the TRIPS Agreement in developing and newly industrializing countries. In WTO implementation of the TRIPS Agreement (including a review of national laws and dispute settlement) and in forthcoming WTO TRIPS negotiations (in areas such as biotechnology and genetics, the digital environment and electronic commerce, exhaustion of rights, non-violation causes of actions, competition and investment), the specific interests of the developing countries must be given a priority. Just as developed countries have traditionally balanced the IPRs interests of producers, consumers, and the science and research communities, so also must the WTO balance respective global interests in technology and creativity. The author urges a more extensive role for institutions such as the World Bank in technology capacity-building.

WTO Implementation in the European Community—Antidumping, Safeguards and Intellectual Property

WTO Implementation in the European Community—Antidumping, Safeguards and Intellectual Property