News from the Institute for International Trade
The Institute for International Trade hosted a visit and public lecture by Professor James Bacchus on 14 June 2019. Professor Bacchus currently serves as a Distinguished University Professor of Global Affairs and the Director of the Centre for Global Economic and Environmental Opportunity at the University of Central Florida. He was a founding member, and twice Chairman, of the Appellate Body of the WTO and served as a former member of the US House of Representatives.
Peter Draper, Executive Director, Institute for International Trade, University of Adelaide
How to make sense of recent manoeuvres amongst the major trading powers in relation to the WTO? The US is at the centre, so it is necessary to start there. Executive Director Professor Peter Draper reflects on these dynamics following recent travels to Tokyo, Geneva, and Florence.
On 31 May and 1 June 2019, both Prof Richard Pomfret Jean Monnet Chair in the Economics of European Integration and Prof Peter Draper Executive Director for Institute for International Trade participated in a Workshop and Round Table discussion on Asia-EU Trade at the European University Institute in Florence, Italy.
The ’trade wars’ are firmly back in the spotlight. Regions and countries will be variously impacted as tensions and tariffs escalate. In this briefing for the Turkish Policy Quarterly Executive Director Professor Peter Draper analyses how Sub-Saharan Africa might be affected, and what remedial actions African leaders could pursue. For more context on one option, the Continental FTA, see his recent joint article in World Economics (subscription required).
Keith Wilson, Senior International Trade Law Counsellor, Institute of International Trade
Contributions at the third Global Solutions Summit (www.global-solutions.international) addressed the full spectrum of challenges in a period of major change – and a looming sense of crisis – in the international political, economic and social order. These were the four key priorities I took away from the 2019 Summit held in Berlin, Germany from 18-19 March 2019, in support of the Japanese Presidency of the G20/T20. The Think 20 (T20) will be held in May, leading up to the G20 itself in Osaka in June 2019.
Given Australia’s significant economic integration into the world trading system, foreign protectionism poses a genuine threat to Australian living standards. While the current US administration’s trade policy has put the spotlight on protectionism, in fact over the past decade there has been sustained resort to trade distortions by many governments.
The Marrakesh Agreement’s Dispute Settlement Understanding (DSU) represented a major step forward in trade dispute settlement from the largely ineffective pre-1995 General Agreement on Tariffs and Trade (GATT) system. Under GATT, dispute-settlement panels’ establishment was frequently blocked; panels that were established frequently had their reports’ adoption blocked by losing parties; timeframes were ineffective; and American dissatisfaction often led to unilateral trade actions implemented pursuant to Washington’s s. 301 statute.
The Japanese desire not to antagonize the Trump Administration means there is little prospect of concerted G20 action this year. IIT partnered with RIETI (based in Tokyo), and ANU’s Research School for Asia and the Pacific to host a Think 20 Trade taskforce dialogue on the G20’s trade agenda.
The Institute for International Trade hosts the 3rd Adelaide PhD Summer Institute in International Trade. Adelaide was the centre of PhD student research in international trade in Australasia on March 20 and 21, as twelve aspiring PhD students and Adelaide scholars in international trade met to discuss their research.
Guest speaker Senator the Honourable Simon Birmingham, Australian Minister for Trade, Tourism and Investment and Deputy Leader of the Government in the Senate, gave an address on Australia’s relations with the EU and current trade policy challenges.