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You are here: Home Knowledge Base Multilateral Regionalism and Emerging Markets – Opportunities and Risks in Global Trade
Symposium 2015

Multilateral Regionalism and Emerging Markets – Opportunities and Risks in Global Trade

The Challenge

The world of international trade is changing in a way that has so far been unseen in scale and depth. With more and more regional and mega-regional free trade agreements under consideration, global markets are splitting up into fewer, larger, and more powerful trading blocs. The developed countries participating in these agreements expect large increases in trade volume and increases in income due to lower tariffs and the removal of non-tariff barriers. The effects of these agreements on emerging markets, however, are less clear.

Agreements like the Transatlantic Trade and Investment Partnership (TTIP) or the Trans-Pacific Partnership (TPP) are likely to divert trade away from non-participating countries, especially those which qualify as emerging market economies. However, the same agreements also may affect emerging market economies through indirect spillover effects; effects that may arise if non-participating countries adopt the common standards prevailing in larger trading blocs to lower non-tariff barriers. Adopting these standards may allow emerging market economies to at least partially integrate themselves into the otherwise exclusive trading blocs.  

As a result, the content and inclusiveness of these agreements matter, along with the subsequent reactions of emerging markets. Important emerging markets, such as China, are already weighing whether they wish to pursue a closer affiliation with them or instead whether they want to counter the new regional trade agreements by establishing their own competing trading blocs. As these countries decide how to respond, it becomes increasingly clear that their response will shape the form of global trade in the 21st century.

Given this challenge, this GES session addresses the following questions:

  • How can mega-regional trade agreements foster positive economic and social development in emerging market economies?
  • What steps need to be taken by developed countries to ensure positive outcomes for themselves and for emerging market economies?
  • How can free trade lead to fair trade in this context?
  • How does the World Trade Organization (WTO) need to be reformed in order to encourage this process?
  • How will China react to TTIP and TPP, and how will its reaction affect the Asian community as a whole?

 

This session is organized by the Bertelsmann Stiftung. Please check out the tabs below for additional facts and information.

    Background Paper

    Background Paper
    Symposium 2015

    Multilateral Regionalism and Emerging Markets – Opportunities and Risks in Global Trade

    Polity, Academia, Business, Civil Society

    Virtual Library

    Virtual Library File
    Symposium 2015

    Potential impact of TTIP on developing and emerging countries

    This study by the Ifo Institute looks at the economic consequences of the Transatlantic Trade and Investment Partnership (TTIP) on developing and emerging countries. It includes expert interviews, the ...

    This study by the Ifo Institute looks at the economic consequences of the Transatlantic Trade and Investment Partnership (TTIP) on developing and emerging countries. It includes expert interviews, theoretical, quantitative studies as well as specific case studies. It concludes with outlining ten concrete policy recommendations on how to create a TTIP that maximizes positive effects for developing and emerging countries.

    Virtual Library File
    Symposium 2015

    China flexes its muscles at APEC with the revival of FTAAP

    The "BRICS" states, including China, and other emerging markets need to position themselves with regard to the increasing emergence of mega-regional trade agreements. They can work towards a greater i ...

    The "BRICS" states, including China, and other emerging markets need to position themselves with regard to the increasing emergence of mega-regional trade agreements. They can work towards a greater inclusion into large Western free trade agreements like TTIP and TPP (Trans-Pacific Partnership) or they can choose to create their own mega trade zones. The article looks at China's plans to create the FTAAP (Free Trade Area of Asia Pacific) as a counter-concept to the American TPP.

    Virtual Library File
    Symposium 2015

    The Impact of TTIP on Brazil

    This study takes the example of Brazil to showcase the choices that emerging markets are confronted with when dealing with mega-regional trade agreements like TTIP. It highlights potential risks and b ...

    This study takes the example of Brazil to showcase the choices that emerging markets are confronted with when dealing with mega-regional trade agreements like TTIP. It highlights potential risks and benefits associated with them.