International Trade

In the aftermath of World War Two, the doctrine of free international trade became a generally acknowledged principle among western developed economies. During the post-war period the world economy as a whole has experienced unprecedented economic growth, based principally on a steadily growing interdependence of national economies.

However, in recent times, the liberal economic order that has been the focal point of the globalist post-1945 era is unravelling. Those nations that have for many years been the flag-bearer for this globalist movement have become the first to signal a desire for change in the wake of the 2008 financial crisis. Economic nationalism, a tone of belief often popular during times of economic depression, has raised its head again in Britain, France, and the United States (US).  A return to antagonistic protectionist politics puts at risk not only great economic progress, but also world stability and peace.

At present there are five things that define the new wave of neo-protectionist trade policy in Asia, these include:

One. Nationalism and movements away from free trade
Two. US vs. China, a potential tariff war?
Three. Impact on Asia
Four. Opportunities for growth
Five. Reform in China

Given such an environment, the CITBA focuses on intra-industry trade flows, import and export patterns among Asian countries, the impact of Free Trade Agreements and protectionism on Asian economies, and the role of non-tariff barriers as a neo-protectionist trade policy platform in Asia. For example, to map out the trade policy changes that have been occurring in recent times, and their potential implications for Asia. From an economic policy perspective, the centre aims to develop a better understanding of the important roles played by the service sector in driving economic growth in Asia. For instance, CITBA drives research initiatives that assess fiscal practices in the Asian region and how governments can better engage with business and the wider community.

For further information on the international trade and economic policy research being conducted by CITBA please contact Dr. Jacob Wood at jacob.wood@jcu.edu.au

The new wave of neo-protectionist trade policy in Asia
Dr. Jacob Wood details the emergence of multilateral and bilateral free trade within the Asian region and the type of impact it has had on economic development.

A multidimensional Economic Assessment of Africa.jpgA Multidimensional Economic Assessment of Africa 2020 saw the publication of an edited book by Springer. Titled “A Multidimensional Economic Assessment of Africa, the book provides useful resources for government policy analysts, academics, students of higher education and business practitioners interested in African economies and the key economic issues these economies are facing in 2020. In the face of weak governance and growth globally, there is still a window of opportunity for countries in Africa to build on not only their traditional industrial capabilities, but also pave the way for positive developments in international trade and in the way governments tackle poverty and inequality. By focusing on four areas: (1) agriculture and livestock, (2) consumption, poverty and inequality, (3) financial services, employment and corporate governance, and (4) economic integration, international trade and foreign direct investment (FDI), this book presents a series of empirical studies that examine important contemporary economic issues facing Africa. The book incorporates a range of methodological approaches, with some chapters providing case study analyses while others embrace more traditional forms of econometric testing.