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Article
Publication date: 1 September 2019

Wence Yu, Hao Chen and Liqiang Yang

In order to alleviate China's crisis of marginalization in international trade, combined with the development characteristics of the Shanghai Free Trade Zone, the…

Abstract

In order to alleviate China's crisis of marginalization in international trade, combined with the development characteristics of the Shanghai Free Trade Zone, the development direction of the bonded cold chain business of Shanghai Yangshan Comprehensive Bonded Port Area was proposed. From a long-term perspective, a free trade zone integrating processing, logistics, finance, culture, and internal and external market trade was formed. By taking advantage of the huge consumption of imported food in the Yangtze river delta region, the policy advantages of Yangshan Port Area are exploited. Combined with the development of cross-border e-commerce, innovative experiences that could be replicated and promoted are formed. The results showed that the free trade zone is the development direction of the bonded port area. Therefore, the Shanghai Bonded Port Area should focus on the integration with the development of the free trade zone in the initial stage. This lays a solid foundation for the construction of the bonded port area as a comprehensive internal and external trade platform for ASEAN (the Association of Southeast Asian Nations) and the domestic market. Research on the planning and layout of trade zones can help plan the future development of trade zones and their direction. The trade zone is pre-controlled. The efficiency of future construction and upgrading of the bonded area is improved. It is of great practical significance to the current development and construction of the Shanghai Bonded Port Area.

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Open House International, vol. 44 no. 3
Type: Research Article
ISSN: 0168-2601

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Article
Publication date: 1 March 1985

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and…

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Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

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International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 11 August 2020

Phil Mullan

Abstract

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Beyond Confrontation: Globalists, Nationalists and Their Discontents
Type: Book
ISBN: 978-1-83982-560-6

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Article
Publication date: 1 September 2017

Wence Yu, Hao Chen and LiQiang Yang

Since the reform and opening up, the economy of China has rapidly developed. The system, structure, mode, and pattern of the foreign trade in China must be adjusted…

Abstract

Since the reform and opening up, the economy of China has rapidly developed. The system, structure, mode, and pattern of the foreign trade in China must be adjusted accordingly to adapt to new economic normality. In this study, the main types of free trade areas worldwide were analyzed, and the necessary conditions for their successful development were examined on the basis of an ecological economic perspective. The Shanghai free trade area is a typical representative of a new type of Trade Zone in China. It introduces the principles of sustainable development, people oriented, green, low-carbon and other eco free trade zones. The planning characteristics of Shanghai free trade zone were studied from the point of view of planning economy and land use. Taking Shanghai Yangshan land free trade zone as an example, the planning research was carried out in terms of functional zoning, environment, transportation and facilities. In summary, this study provided theoretical and technical references for the construction of free trade areas and for the formulation of significant policies.

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Open House International, vol. 42 no. 3
Type: Research Article
ISSN: 0168-2601

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Article
Publication date: 1 January 1997

Sandra Tomsons

The notion of sustainable development, which appears to have become a permanent fixture in political and economic discussions at the national and international level…

Abstract

The notion of sustainable development, which appears to have become a permanent fixture in political and economic discussions at the national and international level, carries with it approvals of various sorts. At a time when the sheer number of human beings on the planet is ecologically problematic, sustainable development has replaced motherhood as that which everyone unreservedly commends. The different foundations upon which approval rests successfully blanket sustainable development with an all encompassing positive assessment. Positively assessed economically, politically, ecologically and purportedly topped off with moral support from human rights and justice considerations, sustainable development has attained the status of an unquestioned good. Frequently it is touted as the highest good. The means to achieving sustainable development globally and how to contribute to it nationally are seriously debated worldwide. While courses of action plotted to secure the end may rest in pages of committee reports or be poorly implemented, the few voices raised against the recommendation to pursue it are scarcely discernable as a murmur in the cacophony of those who sing its praises. Consequently, when the support from economic, political, ecological and moral theories combines with “the people's” commitment to sustainable development, this notion functions to identify today's most powerful justification for the actions or omissions of governments, individually or jointly.

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Humanomics, vol. 13 no. 1
Type: Research Article
ISSN: 0828-8666

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Book part
Publication date: 9 March 2021

Abhijit Bhattacharya

Economic integration is an agreement among countries in a geographical region or unification of economic policies between different states aiming to reduce and ultimately…

Abstract

Economic integration is an agreement among countries in a geographical region or unification of economic policies between different states aiming to reduce and ultimately remove tariff and non-tariff barriers on trade. The fruit of globalization is the tremendous rise of economic integration as globalization loosens barriers among the nations through reduction in cross-border duties and eases trade policies. Trumponomics is defined as the economic policies of US President Donald Trump that prefers high import tariff to bring “America First.” There is a debate among the researchers about the choice between free trade and protection or imposition of tariff. Some of them prefer free trade because during the start of the great depression, the world economy experienced a huge shift toward protectionism. Choice between no-tariff and tariff represents a prisoner’s dilemma situation whereby each player’s best response is to employ tariffs. This results in a sub-optimal outcome for all where the total volume of world trade falls, which is a Nash solution. The present chapter deals with theoretical discussions on trade war and throws light on the developing country’s choice between non-protectionism supported by globalization and Trump’s protectionism.

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Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

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Article
Publication date: 25 June 2020

Onur A. Koska, Frank Stähler and Onur Yeni

In a simple reciprocal dumping model of trade, this study scrutinizes the strategic role of trade and commodity taxes as environmental instruments when consumption of an…

Abstract

Purpose

In a simple reciprocal dumping model of trade, this study scrutinizes the strategic role of trade and commodity taxes as environmental instruments when consumption of an imported product generates pollution. The results suggest that for sufficiently small values of the marginal disutility from pollution, commodity taxes can be preferred over import tariffs, and compared to the case of trade policies, free trade can be welfare dominating even for higher values of the marginal disutility from pollution when commodity taxes are used strategically as environmental instruments.

Design/methodology/approach

The authors employ a reciprocal dumping model of trade.

Findings

A sufficiently high marginal disutility from pollution (or sufficient asymmetries between the countries in terms of their marginal disutility from pollution) may jeopardize bilateral trade, especially if countries are given the option to set tariffs freely for imported goods (consumption of which generate environmental pollution). For sufficiently weak transboundary pollution and sufficiently low marginal disutility from pollution, (1) both Nash trade and domestic policies may prove to be helpful in addressing consumption-based pollution, and (2) it is possible to show in such a case that Nash domestic policies may be preferred over Nash trade policies, especially when both transboundary pollution and the trading partner's marginal disutility from pollution are sufficiently low.

Originality/value

The novel contribution of this paper is (1) to capture asymmetries among trading partners in terms of how much they account for environmental pollution when deciding on their (domestic/trade) policy measures and (2) to focus on environmental degradation that is caused by final consumption of a product imported from a trading partner.

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Journal of Economic Studies, vol. 48 no. 2
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 April 1993

Paul Herbig and Ken Day

The United States has entered into a tripartite Free TradeAgreement with Canada and Mexico with a planned 1 January 1994 debut.What are the possibilities of a North…

Abstract

The United States has entered into a tripartite Free Trade Agreement with Canada and Mexico with a planned 1 January 1994 debut. What are the possibilities of a North American Common Market being formed? What are the potential threats that could undermine NAFTA? What are the necessary prerequisites for this to occur? What would it look like? Examines these issues, attempts to provide answers to the questions and provides recommendations for marketers.

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International Marketing Review, vol. 10 no. 4
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

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Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

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Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Book part
Publication date: 24 September 2010

Drusilla K. Brown, Kozo Kiyota and Robert M. Stern

We have used the Michigan computable general equilibrium (CGE) model of World Production and Trade to calculate the aggregate welfare and sectoral employment effects of…

Abstract

We have used the Michigan computable general equilibrium (CGE) model of World Production and Trade to calculate the aggregate welfare and sectoral employment effects of the menu of U.S.–Japan trade policies. The menu of policies encompasses the various preferential U.S. and Japan bilateral and regional free trade agreements (FTAs) negotiated and in process, unilateral removal of existing trade barriers by the two countries, and global (multilateral) free trade. The U.S. preferential agreements include the FTAs approved by the U.S. Congress with Chile and Singapore in 2003, those signed with Central America, Australia, and Morocco and awaiting Congressional approval in 2004, and prospective FTAs with the Southern African Customs Union (SACU), Thailand, and the Free Trade Area of the Americas (FTAA). The Japanese preferential agreements include the bilateral FTA with Singapore signed in 2002 and prospective FTAs with Chile, Indonesia, Korea, Malaysia, Mexico, Philippines, and Thailand. The welfare impacts of the FTAs on the United States and Japan are shown to be rather small in absolute and relative terms. The sectoral employment effects are also generally small in the United States and Japan, but vary across the individual sectors depending on the patterns of the bilateral liberalization. The welfare effects on the FTA partner countries are mostly positive though generally small, but there are some indications of potentially disruptive employment shifts in some partner countries. There are indications of trade diversion and detrimental welfare effects on nonmember countries for some of the FTAs analyzed. Data limitations precluded analysis of the welfare effects of the different FTA rules of origin and other discriminatory arrangements.

In comparison with the welfare gains from the U.S. and Japan bilateral FTAs, the gains from both unilateral trade liberalization by the United States, Japan, and the FTA partners and global (multilateral) free trade are shown to be rather substantial and more uniformly positive for all countries in the global trading system. The U.S. and Japan FTAs are based on “hub” and “spoke” arrangements. We show that the spokes emanate out in different and often overlapping directions, suggesting that the complex of bilateral FTAs may create distortions of the global trading system.

Details

New Developments in Computable General Equilibrium Analysis for Trade Policy
Type: Book
ISBN: 978-0-85724-142-9

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