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ID: 156434

Post-crisis restructuring of trade and financial architecture: Asian and European perspectives / Schüller, Margot; Helble, Matthias

Schüller, Margot	Journal Article
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Summary/Abstract

The global financial and economic crisis (GFEC) that started in 2007 triggered a global economic downturn, which was particularly marked in Europe as well as the United States. Asia weathered the economic shock relatively well, although the knock-on transmissions through trade and financial channels still caused a slowdown of export demand and economic growth in many countries within the region. The consequences of the GFEC are still felt today. Economic growth across the world remains weak and prospects uncertain, while the need for structural changes in the real economy and the financial sector has increased.

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Post-Crisis Restructuring ; Trade and Financial Architecture ; Asian and European Perspectives

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ID: 156437

Salvaging the Trans-Pacific Partnership: building blocks for regional and multilateral trade opening? / Helble, Matthias

Helble, Matthias	Journal Article
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The high hopes that the Trans-Pacific Partnership (TPP) would open up trade across the Pacific were dashed by the decision of the new US Government under President Trump to withdraw from the agreement in January 2017. Despite being controversial, the TPP had been recognized as an agreement that substantially updates and extends international trade rules responding to new technological developments and economic realities. It was thus lauded by some as the first true twenty-first century trade agreement. The United States’ withdrawal from TPP gives the agreement an uncertain future. Yet, we argue in this paper that some achievements of the TPP might not be lost. The TPP offers important lessons for other ambitious regional trade deals both in terms of process and content. Furthermore, several chapters of the TPP can become blueprints for ongoing and upcoming negotiations at the multilateral level. A one-to-one transposition of TPP provisions into the multilateral trade agreement is unlikely, yet certain provisions could serve as valuable inspiration for future multilateral trade talks.

Key Words

TPP ; Trans-Pacific Partnership ; Regional and Multilateral Trade

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