By targeting specific trade violations rather than balanced flows, global trade policy has been focusing on the wrong outcome. New trade rules are needed to create an international trading system in which comparative advantage allocates production.
Please join the Carnegie Endowment's American Statecraft Program for a conversation on these issues with Deputy National Security Advisor Daleep Singh.
The international community faces a new economic paradigm. The multilateral system must become more flexible in its attitude toward and treatment of industrial policies.
The decision Americans must make about industrial policy is whether policies that drive the nature and direction of the U.S. economy should be designed at home or abroad by its trade partners. In a hyperglobalized world, trade and industrial policies in one country are transmitted through trade imbalances into their obverse among that country’s trade partners.
A different approach to trade in Asia could represent a middle way between the Biden administration's current approach and the so-called Washington Consensus of old.
China has expanded its presence in the global halal economy, opening new avenues for Sino-Arab cooperation and competition.
China’s slowing growth will increasingly impact its economic relations with Africa. Policy directions within African countries and third parties such as the United States will greatly shape how these changes in the China-Africa relationship continue to unfold.
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