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ID: 138043

Global imbalances since the financial crisis: effects on emerging market economies / S, Krishnakumar

S, Krishnakumar	Article
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This paper undertakes an appraisal of the origins of global imbalances since the late 1990s, examines the link to the global financial crisis and the consequences of the untavelling of the existing financial system on emergin market economies.

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GDP ; Economies ; Financial Crisis ; Global Imbalances ; Capital Flows ; US ;
Emerging Market

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ID: 163903

Megaregionals in the world trading system the end of the road for the wto? / S, Krishnakumar

S, Krishnakumar	Journal Article
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Krishnakumar S deals with the political economy of megaregionals from the angle of the conflict between Doha issues and twenty-first century issues. He also explores the possibility of a reconciliation of these issues invoking the very clause of special and differential treatment rejected by developed economies.

Key Words

WTO ; World Trading System ; Megaregionals

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ID: 162428

United States and Its Challenge to Multilateralism in the Global Economy / S, Krishnakumar

S, Krishnakumar	Journal Article
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With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.

Key Words

Multilateralism ; Global Imbalances ; America First ; Dollar Credit ; Megaregionals ; Trade Enforcement Act 2015

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