Back to protectionism? The future of world trade

The controversy over the Transatlantic Trade and Investment Partnership, a proposed bilateral agreement between the US and EU, has brought into focus the stalling progress in reducing trade barriers. The Doha round of global trade negotiations, begun in 2001, has made little progress since 2008. This session will look at recent developments in trade negotiations and ask whether the project of global free trade has run out of steam.

QUESTIONS

1) How do we situate the TTIP within the general historical rise of free-trade agreements? If tariff barriers are so low between the EU and the US, why the TTIP?
2) How do we assess Investor-State Dispute Settlements (ISDS)?
3) What are the chances of the TTIP being concluded?
4) What are the likely impacts on non-TTIP participants, and especially China and India?
5) Are any of the criticisms made by the UK liberal-left valid?

READINGS

Overview

Transatlantic Trade and Investment Partnership
Wikipedia

Leaked draft of the TTIP document

Supporters and critics

Free Trade Agreement: Impact on US Trade and Implications for US Trade Policy
William H Cooper, Cornell University ILR School (especially pp11-13)

Impact on China and India

Transatlantic Trade and Investment Partnership
RIS Discussion Papers (especially pp19-21, 22-28)

British critics

The TTIP deal hands British sovereignty to multinationals
Owen Jones, Guardian

This transatlantic trade deal is a full-frontal assault on democracy
George Monbiot, Guardian

What is TTIP? And six reasons why the answer should scare you
Lee Williams, Independent

Background

Trends in capital flows and foreign-direct investment

Sanctions, and the backfiring of sanctions

Data sovereignty and the Balkanisation of the internet