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Begin New Search Topic International Trade and Finance Political Geography Asia Content Type Special Report Publishing Institution Asia Society

1. The Evolution of the Global Trading System: How the Rise of Asia and Next Generation Trade Will Shape the Future Economy

Author:
Shay Wester
Publication Date:
11-2022
Content Type:
Special Report
Institution:
Asia Society
Abstract:
Over the last seventy years, global trade flows have grown to an unprecedented level, facilitated by the lowering of tariffs and the creation of a shared set of rules. The Asia Pacific region has been central to this remarkable growth, with trade volumes nearly quadrupling in the last twenty years. Asian countries view trade as a critical tool to grow their economies, strengthen supply chain resiliency, create jobs, foster development, attract foreign direct investment, and promote innovation. As a result, they have been on the forefront of concluding trade agreements, and in the process tackling emerging issues through innovative approaches. In the meantime, many of the existing institutions, groupings, and approaches that have supported a strong rules-based trading system have not sufficiently stepped up to address emerging challenges. In particular, negotiating efforts at the World Trade Organization (WTO) have largely stalled with WTO members to date unable to forge consensus on pressing trade matters affecting climate, health, and digital, to name just a few. Additionally, as the scope of trade agreements has expanded over time, concluding comprehensive agreements has become more difficult. Finally, increased geopolitical tensions have impacted the multilateral trading system’s ability to function and thus respond effectively to new challenges. A new Asia Society Policy Institute (ASPI) report, The Evolution of the Global Trading System: How the Rise of Asia and Next Generation Challenges Will Shape the Future Economy, by ASPI's Shay Wester, explores next-generation trade challenges where new rules and new approaches will be needed. It concludes with observations on how these changes are reshaping the global trading system and examines how governments will need to adapt going forward.
Topic:
International Trade and Finance, World Trade Organization, Economy, and Tariffs
Political Geography:
Asia

2. Roadmap to a Northeast Asian Carbon Market

Author:
J. Jackson Ewing
Publication Date:
09-2016
Content Type:
Special Report
Institution:
Asia Society
Abstract:
FACING UP TO CLIMATE CHANGE IS A KEY CHALLENGE OF OUR TIME. We are on pace in 2016 to again record the warmest global temperatures ever measured; a distinction that now appears to be an annual occurrence. Weather is becoming less predictable, storms more intense, and drought and flooding more pervasive. This destroys livelihoods, impedes economic progress, and undermines the sustainable development gains we are working hard to achieve. Slowing down and ultimately reversing climate change requires us to lower our greenhouse gas emissions. And effectively pricing carbon emissions is a vital place to start. Pricing carbon through markets creates incentives, sets clear rules, and encourages regulated organizations to lower emissions in flexible ways that work for them. Like much in the current climate change arena, the main action on carbon markets is happening beneath the global scale. After years of chasing global mechanisms to price and trade carbon emissions credits, the landmark Paris Agreement of December 2015 both recognizes and provides political and policy space for efforts at local, state, and regional levels. The relevance of carbon markets is growing apace; almost doubling in scale since 2012 with forty states and twenty-three cities, regions, and provinces pricing emissions worth some $50 billion.
Topic:
Climate Change, Environment, International Trade and Finance, and Climate Finance
Political Geography:
Asia and Global Focus