News: East Asia
Markus Jelitto is Counsellor at the Services Trade Division, WTO Secretariat, Geneva.
Services Trade has been growing continuously over the past three decades and was worth USD 13.3 trillion in 2017. Services value added accounts for almost half of all world trade (goods and services combined). Despite these impressive figures, the 2019 WTO World Trade Report finds that costs of trading services are about twice as high as trade cost for goods. A significant portion of these costs are attributable to regulatory divergence, as well as opaque regulations and cumbersome procedures. Through the development of disciplines on services domestic regulation, a group of currently 63 WTO members has set out to address these cost factors.
Carlos A. Primo Braga is an Adjunct Professor, Fundação Dom Cabral, Brazil.
The commercial and geopolitical conflict between China and the United States is unlikely to abate in the coming years. This brief discusses the contours of recent geopolitical history in order to contextualize the nature of this new “Cold War” between the two superpowers.
This work is licensed under Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
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