SlideShare ist ein Scribd-Unternehmen logo
1 von 5
Downloaden Sie, um offline zu lesen
‘
‘   Global Themes
              an issues brief series of the Dallas Committee on Foreign Relations


                                                                                                                       DCFR
                                                                                                      Dallas Committee on Foreign Relations


    Issue No. 2                                                                                                             June 21, 2011




    Trade, Growth, and Green
    Rising to 21st Century Challenges

                                                     “We are the leading trading nation in world, and therefore we stand to profit the
                                                     most from a successful conclusion to the Doha Development Round. We need
    Globe Trade Advances Under Doha                  to make a successful conclusion a much higher priority.”

    The Doha Development Round is the
                                                     JW: What should the U.S. be doing          With respect to Colombia, for
    current trade-negotiation round of the
                                                     with regard to the Doha Development        example, ninety percent of
    World Trade Organization(WTO),                   Round?                                     Colombian shipments are already
    which began in November 2001.                                                               duty free with current trade
    As of 2008, talks have stalled over              Bacchus: What we are missing most          agreements. However, what we sell
    a divide on major issues, such as                of all is political will, in the United    to the Colombians now faces many
    agriculture, industrial tariffs and              States and elsewhere, to make Doha         tariff and non-tariff barriers. Many
    non-tariff barriers, services, and               the global priority it ought to be.        of these barriers will be eliminated
    trade remedies. The most significant             Countries should make the national         over time if we conclude the pending
    differences are between developed                decisions necessary within an              agreement. While the U.S. dithers
    nations led by the European Union,               international context to put together      politically, Canada, Europe and
    the U.S., and Japan and the major                a global deal. The rest of the world       others are concluding trade deals
                                                     is looking to the U.S. for leadership.     with a country that is a strong ally
    developing countries led and
                                                     It’s not clear whether we will be          and long-standing trading partner of
    represented mainly by Brazil, China,             able to summon the political will          ours. Right now China is building
    India, South Korea, and South                    needed to lead. Before proceeding          a railroad from the Pacific to the
    Africa. The Doha Round began with                with Doha, given our domestic              Caribbean in cooperation with the
    a ministerial-level meeting in Doha,             politics, we need to clear from our        Colombians to facilitate trade
    Qatar in 2001. Subsequent ministerial            agenda three long-delayed pending          between Colombia and China.
    meetings took place in Cancun,                   free-trade agreements, the Korean,
    Mexico (2003), and Hong Kong                     Colombian and Panamanian free-
    (2005). Related negotiations took                trade agreements. They would all add
    place in Geneva, Switzerland (2004,              significantly to growth of the U.S.
    2006, 2008); Paris, France (2005);               economy at a time when we much              On June 8th, DCFR President Jennifer
    and Potsdam, Germany (2007). The                 need it. Approving these agreements         Warren interviewed former chairman of
    most recent round of negotiations in             would produce jobs in the U.S. that         the appellate body of the WTO, James
                                                     would pay more and last longer than         Bacchus. He currently leads the global
    July 2008 broke down after failing to
                                                     jobs not involved in international          practice at Greenberg Traurig. The
    reach a compromise on agricultural
                                                     trade.                                      brief’s content is predominantly based
    import rules.
                                                                                                 on his comments.



    4925 Greenville Ave, Suite 1025 | Dallas, Texas 75206 | 214.750.1271 | dallascfr.org
2


Once we conclude these pending            We are the leading trading nation         Africa, for the next round of climate
free-trade agreements, we can             in world, and therefore we stand to       change negotiations in December.
focus politically in the U.S. on the      profit the most from a successful         One of our recommendations is to
multilateral negotiations that have       conclusion to the Doha Development        enact climate measures nationally
been at an impasse for years. Our         Round. We need to make a                  that are consistent with WTO
economic opportunities are much           successful conclusion a much higher       obligations to avoid a collision
greater multilaterally than bilaterally   priority.                                 course between trade and climate
to produce jobs and economic                                                        change in WTO dispute settlement.
growth. Under the rules of WTO,                                                     We also consider how the trading
any concessions that are negotiated                                                 system can be used affirmatively
by one country are then multi-            Trade and Greenery                        to combat climate change and
lateralized. This “multilateralizing”                                               promote green growth worldwide.
multiplies the opportunity to lower       New thinking suggests that WTO            One important recommendation
trade barriers and is by far the best     rules can be used proactively to          is to lower and eliminate trade
way to increase the overall volume        allow for more green trade. By            barriers on environmental goods and
of trade, thus expanding the potential    using WTO rules, climate-friendly         services globally. This is already an
for global prosperity. This potential     technologies can be made more             important item on the Doha agenda.
cannot be underestimated. Over            accessible to developing countries        Additionally, we look at ways to
the past half a century, by lowering      for energy efficiency and to adapt to     protect intellectual property and how
barriers to trade and investment, we      and mitigate climate change effects.      to encourage its dissemination to
have added $1 trillion annually to        Areas that are at-risk for negative       help developing countries combat
the U.S. economy. If we eliminated        climate change effects include energy,
all remaining barriers to trade and
investment world-wide, we would
add another $500 billion per year to
the U.S. economy.

Where do we find the political will?
The rest of the world is willing
to make additional concessions
to the U.S. to lower barriers to
manufacturing trade and trade
in services. We also want trade
facilitation to eliminate red tape. All
this is rightly on our agenda.

Other countries are willing to give
us more, but we must be willing to
give them more in return. They want
market access in the U.S. where
they have a comparative advantage.        water, agriculture, and infrastructure.   climate change while also ensuring
Many countries around the world           Lowering or eliminating barriers to       the continued protection of IP
have a comparative advantage in           green goods and services would help       rights. Another recommendation
agriculture. They want us to reduce       in their being diffused globally.         suggests creating an exception in
our agricultural subsidies that distort
                                          JW: What is at the top of the agenda
                                                                                    WTO rules for green subsidies.
and protect our markets. But it’s
                                          for the Davos working group on trade      Such an exception existed in WTO
politically difficult to reduce these
                                          and climate change for which you          rules initially but lapsed when WTO
in the U.S. They want us to redress
                                          chair?                                    members failed to extend it in Seattle.
how we deal with imports and
                                                                                    WTO Members should revisit this
how we apply trade remedies more
                                          JB: We produced a report with a           issue to reach consensus to allow new
extensively than we should. This
                                          number of specific recommendations.       green subsidies without distorting
concession too would be politically
                                          These recommendations are acquiring       trade worldwide. This means drawing
difficult for us. But if we want more
                                          some currency in the councils             a line; we must draw it in a way that
from Doha, we must give more. The
                                          of the WTO and in discussions             is compatible with continuing trade
biggest hurdles are our inabilities
to make concessions on agriculture        among climate negotiators who             and also with addressing climate
subsidies and trade remedies.             will be heading to Durban, South          change.
3


Climate Change, Forests, and              “The rest of world is baffled that the US—a scientific society invested in the sci-
Green Trade                               entific method and in the application of scientific findings to new technologies—
                                          is somehow resisting scientific evidence on this critical human issue.”
Reducing Emissions from
Deforestation and Forest Degradation      emerging economies in part because          law and in the potential for the
(REDD) is a set of steps designed         we remain significantly more energy         international rule of law for helping
to use market/financial incentives        efficient than they are. But we can’t       us address concerns that can only
in order to reduce the emissions of       be content with that. We need to            be resolved globally. Foremost of
greenhouse gases from deforestation       find better ways to become more             concern to me is climate change. It
and forest degradation. The initiative    energy efficient. We won’t find those       is inherently a global issue requiring
also can deliver “co-benefits” such as    methods and innovations unless we           global actions, and thus we need
biodiversity conservation and poverty     proceed from the necessary premise          global rules. From Copenhagen’s
alleviation.                              that climate change is real, it is man-     outcome, it is apparent we will
                                          made, and we have to deal with it           not magically and suddenly have
REDD is presented as an “offset”
                                          on those terms. The vast majority           a comprehensive global treaty on
scheme of the carbon markets and
                                          of major America businesses that            climate change. We have to build
thus, will produce carbon credits.
                                          do not have a stake in the status           an architecture over time to address
Carbon offsets are “emissions-saving
                                          quo have already acknowledged               climate change on a global basis.
projects” that in theory “compensate”
                                          and internalized this and are acting        REDD is one very good practical way
for the polluters’ emissions. The
                                          on this premise. It is imperative           to do so.
“carbon credits” generated by these
                                          our politicians do the same. It is
projects can be used by industrialized                                                So I have focused on forest issues
                                          especially imperative that they do so
governments and corporations to                                                       in a shared global effort with many
                                          because around the world countries
meet their targets and/or to be traded                                                others of like mind to begin to build
                                          and citizens everywhere else are
within the carbon markets.                                                            from the forests up the global legal
                                          doing so. The rest of world is baffled
                                          that the US—a scientific society            architecture we need to address
“Between 15% and 20% of all
                                          invested in the scientific method           climate change. We hope we can
greenhouse gases worldwide result
                                          and in the application of scientific        build on the REDD and other similar
from deforestation -- an amount equal
                                          findings to new technologies— is            initiatives to create a comprehensive
to the emissions of all the world’s
                                          somehow resisting scientific evidence       global effort to address climate
cars, trucks, trains, ships, and planes
                                          on this critical human issue.               change over time. This is a practical
combined,” writes Bacchus in a
                                                                                      approach, and an incremental
recent article. REDD is expected
                                          JW: Can REDD be a building block            approach. It took us half a century
to play a crucial role in a future
                                          for a comprehensive climate change          to evolve GATT (the General
successor agreement to the Kyoto
                                          treaty? How?                                Agreement on Tariffs and Trade) into
Protocol, the soon-to-expire global
                                                                                      the WTO. The world trading system
climate change treaty.                    JB: I went to the WTO for two               is still not where it ought to be. We
                                          reasons. First, I believe in the            are continuing to build incrementally
JW: How can the U.S., or its
                                          potential of trade for promoting            in trade. An all-too-real challenge
politicians, ignore the fact that
                                          freedom globally. There is a                is that we don’t have a lot of time for
Norway will spend $1 billion for
                                          connection between free trade,              incrementalism in climate change; so
Indonesian forest conservation
                                          freedom, and advancing prosperity.          we have to get to work yesterday.
efforts? What are the dynamics
                                          Second, I believe in the rule of
hampering U.S. adoption of
progressive climate change
initiatives?

JB: We need to ensure our energy
supplies and improve our energy
efficiency if we hope to be more
competitive in this new world in
which we find ourselves. Essentially
this is an issue of environmental
protection but also economic
competition. It’s a jobs issue. We
have a significant comparative
advantage over China and other
4                                                                                                          June 21, 2011



JW: Is there a country or group of          Food insecurity is creating the           The Smith and Ricardo views of the
countries that can most effectively         increasing trend of many countries        world remain accurate. It is important
further and encourage a green trade         imposing restrictions on exports.         to keep this in mind as the world’s
agenda at this point?                       This is shortsighted, self-defeating      countries confront the reality that we
                                            and ultimately suicidal economics.        do have limited natural resources. We
JB: My view is that all countries must      But there is a political temptation       must find greater efficiencies and the
be engaged, but clearly the biggest         to impose these export restrictions       fairest ways to allocate our resources
emitters are the ones that can make         all over the world. It’s happening in     to feed, sustain and advance a global
the biggest difference. If the top          food, commodities, raw materials,         population that will soon number nine
emitters could get working on this          and rare earths.                          billion.
and reach consensus it would advance
us further. We are not quite there yet      China is imposing restrictions on         JW: How do you see this tension
on the biggest emitters [laughs of          exports of rare earth elements,           between population growth and
irony].                                     which are the basic ingredients of        finding balance in prosperity?
                                            our technological society. It makes
                                            no sense for them to do this because      JB: I am not a Malthusian. Human
                                            the Chinese are heavily dependent         ingenuity can create all kinds of ways
Food Security                                                                         to serve a growing population. The
                                            on exports from other countries to
Food insecurity has proven to               fuel their continued growth. If China     Green Revolution in agriculture in the
have potentially destabilizing              restricts exports that are needed         post-war era is one such example. I
consequences. It played a role in           elsewhere, what is to stop China’s        have faith in our ability to make the
the uprisings in Tunisia, Egypt             trading partners from reciprocating?      global pie larger in a world in which
and elsewhere. Food is now a geo-           It is ultimately self-defeating because   resource constraints will become
political issue like never before.          no one country is self-sufficient in      ever more a factor; but we have to be
Rising food prices push citizens of         everything.                               smart about doing it. We will have a
developing countries further toward                                                   brighter economic future only if we
poverty. Domestically, rising prices        The opportunities in global growth        have a sustainable approach to the
catalyze leaders to take protective         come from dividing and sub-dividing       future. We must protect and make the
measures that have unintended               the division of labor that creates the    most of our limited natural resources.
consequences domestically and               wealth of nations. This is not me         We must be smart about how we
globally as interconnected trade            saying this; it is Adam Smith. The        apply our technologies. I don’t think
and markets become distorted.               best way forward is for each country      we are doing that in all the ways we
Agriculture trade is one of the most        to pursue its comparative advantage       should.
contentious issues in the WTO.              in what it does relatively better than
                                            other countries. Again, this is not
JW: What do you think is the best path      me; this is David Ricardo talking.
forward for addressing food security
issues?
JB: Increasingly I’m working with
others around the world of like mind
on the nexus of trade, climate change,
food, energy, agriculture and a variety
of other issues related to the reality of
our all-too-limited natural resources.
One such area of our concern is
water. Water is simultaneously a
climate, food, energy, agriculture, and
trade issue. Soaring food prices and
volatility have all kinds of societal
consequences. They played a role in
the Arab spring and are driving up
inflation globally even as we speak.
They contribute to a dangerous
and self-destructive trend toward
economic nationalism globally.
5


Chinese Rare Earths and Trade              JW: With regards to China’s                              China, however, could do much more
                                           restrictions of rare earths exports, is                  to be consistent and comply with
China began restricting its export of      this a sign of the times or will China                   WTO rules, particularly in the area
rare-earth elements, partially after       reverse it course?                                       of intellectual property. The U.S.
a row with Japan last year. These                                                                   International Trade Commission
restrictions are said to be in violation   JB: China has acted responsibly as a                     released a study recently, which
                                           WTO member. Domestically, it has                         concluded that we could create 2.1
of WTO rules. China holds about
                                           competing interests. The Chinese                         million more jobs in the United States
half of the world’s supply of rare
                                           have complied with WTO obligations                       if China complied fully with all of
earths and produces about 93% of           when they have been found violating                      its existing WTO obligations relating
the world’s supply. It has created         them. This cannot always be said                         to patents, copyrights, trademarks,
vulnerability for those countries and      about other countries, including our                     and other IP rights. So I encourage
firms importing rare earths that are       own. This week the Chinese decided                       the U.S. to be more aggressive in
essential in many high-tech products       to eliminate some discriminatory                         insisting on compliance by China,
such as mobile phones and batteries        subsidies in their wind power                            including continued and increased
for hybrid cars. A recent article cites:   industry, in response to a complaint                     use of WTO dispute settlement. This
“However, rising prices fit neatly         by the United States.                                    is one part of meeting the overall
with China’s ambition to end its role                                                               challenge of finding ways to advance
as supplier of cheap rare earths to the    I personally represented the U.S.                        the cause of trade without resorting to
                                           entertainment industry in two WTO                        the false promise of protectionism.
world. As Mr. Lin of the Rare Earths
                                           cases brought by the United States
Society says: “Prices of gold, oil and     against China that involved Chinese                      Written by Jennifer Warren, President of DCFR
other commodities are all high. Why        copyright piracy of music, movies
should the cost of rare earths not be      and books. We won those two cases,
high, too?”                                and now the Chinese are complying
                                           with their WTO obligations.




            GeoEdge
                                           The Dallas Committee on Foreign Relations takes no institutional positions on policy issues. The views ex-
                BLOG                       pressed and facts presented in DCFR publications are the responsibility of the author or authors.




      Exploring the frontlines of          For additional information about DCFR, please visit our website
           foreign affairs                 at www.dallascfr.org.
                                           Dallas Committee on Foreign Relations is a non-profit organization focused on explor-
                                           ing leading-edge developments in foreign affairs. Our mission is to promote knowledge
         http://geoedge.org/               of global affairs and a better understanding of the people and events impacting impor-
                                           tant policy choices of the future.



For more information contact:

Dallas Committee on Foreign Relations
4925 Greenville Ave, Suite 1025            Dallas, Texas 75206
(email) dcfr@dallascfr.org                 (tel) 214.750.1271

Más contenido relacionado

Ähnlich wie Trade, Growth, and Green

Shuaihua Cheng (London - Dec 2010)
Shuaihua Cheng (London - Dec 2010)Shuaihua Cheng (London - Dec 2010)
Shuaihua Cheng (London - Dec 2010)AmaliaKhachatryan
 
Rescuing the doha round
Rescuing the doha roundRescuing the doha round
Rescuing the doha roundMohamad Sala
 
Domestic Political Factors Affecting Foreign Environmental...
Domestic Political Factors Affecting Foreign Environmental...Domestic Political Factors Affecting Foreign Environmental...
Domestic Political Factors Affecting Foreign Environmental...Jamie Akers
 
First Reply INEach one of the three kinds of trade agreements is
First Reply INEach one of the three kinds of trade agreements isFirst Reply INEach one of the three kinds of trade agreements is
First Reply INEach one of the three kinds of trade agreements isShainaBoling829
 
The Multilateral Trading System After Doha
The Multilateral Trading System After DohaThe Multilateral Trading System After Doha
The Multilateral Trading System After DohaSimon Lacey
 
Governmental Influence On Trade
Governmental Influence On TradeGovernmental Influence On Trade
Governmental Influence On TradeBeth Hall
 
The Trans-Pacific Partnership Negotiating Background and Controversies
The Trans-Pacific Partnership Negotiating Background and ControversiesThe Trans-Pacific Partnership Negotiating Background and Controversies
The Trans-Pacific Partnership Negotiating Background and ControversiesDr. Oliver Massmann
 
Wto and implications for small and developing countries
Wto and implications for small and developing countriesWto and implications for small and developing countries
Wto and implications for small and developing countriesDavepres
 
Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...
Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...
Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...Bashar H. Malkawi
 
Policy module
Policy modulePolicy module
Policy modulekmblynn
 

Ähnlich wie Trade, Growth, and Green (20)

Bhagwati & Sutherland - The Doha Round: Setting a Deadline, Defining a Final...
Bhagwati & Sutherland  - The Doha Round: Setting a Deadline, Defining a Final...Bhagwati & Sutherland  - The Doha Round: Setting a Deadline, Defining a Final...
Bhagwati & Sutherland - The Doha Round: Setting a Deadline, Defining a Final...
 
Shuaihua Cheng (London - Dec 2010)
Shuaihua Cheng (London - Dec 2010)Shuaihua Cheng (London - Dec 2010)
Shuaihua Cheng (London - Dec 2010)
 
Rescuing the doha round
Rescuing the doha roundRescuing the doha round
Rescuing the doha round
 
Domestic Political Factors Affecting Foreign Environmental...
Domestic Political Factors Affecting Foreign Environmental...Domestic Political Factors Affecting Foreign Environmental...
Domestic Political Factors Affecting Foreign Environmental...
 
First Reply INEach one of the three kinds of trade agreements is
First Reply INEach one of the three kinds of trade agreements isFirst Reply INEach one of the three kinds of trade agreements is
First Reply INEach one of the three kinds of trade agreements is
 
The Multilateral Trading System After Doha
The Multilateral Trading System After DohaThe Multilateral Trading System After Doha
The Multilateral Trading System After Doha
 
Governmental Influence On Trade
Governmental Influence On TradeGovernmental Influence On Trade
Governmental Influence On Trade
 
Pankaj
PankajPankaj
Pankaj
 
Aggressive Tax Planning Essay
Aggressive Tax Planning EssayAggressive Tax Planning Essay
Aggressive Tax Planning Essay
 
Intro bus (2)
Intro bus (2)Intro bus (2)
Intro bus (2)
 
United States On International Trade
United States On International TradeUnited States On International Trade
United States On International Trade
 
The Trans-Pacific Partnership Negotiating Background and Controversies
The Trans-Pacific Partnership Negotiating Background and ControversiesThe Trans-Pacific Partnership Negotiating Background and Controversies
The Trans-Pacific Partnership Negotiating Background and Controversies
 
Wto and implications for small and developing countries
Wto and implications for small and developing countriesWto and implications for small and developing countries
Wto and implications for small and developing countries
 
Essay On International Trade
Essay On International TradeEssay On International Trade
Essay On International Trade
 
Globalization
GlobalizationGlobalization
Globalization
 
2014 Annual Report - World Trade Organization (WTO)
2014 Annual Report - World Trade Organization (WTO)2014 Annual Report - World Trade Organization (WTO)
2014 Annual Report - World Trade Organization (WTO)
 
Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...
Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...
Bashar H. Malkawi Dispute setttlement in eu association agreements with arab ...
 
Kyoto Protocol Canada
Kyoto Protocol CanadaKyoto Protocol Canada
Kyoto Protocol Canada
 
dttl_cop18_doha_brief
dttl_cop18_doha_briefdttl_cop18_doha_brief
dttl_cop18_doha_brief
 
Policy module
Policy modulePolicy module
Policy module
 

Mehr von Dallas Committee on Foreign Relations

Mehr von Dallas Committee on Foreign Relations (16)

Water Security: Flash Points and Challenges Ahead
Water Security: Flash Points and Challenges AheadWater Security: Flash Points and Challenges Ahead
Water Security: Flash Points and Challenges Ahead
 
Counterterrorism and Emerging Security Threats
Counterterrorism and Emerging Security ThreatsCounterterrorism and Emerging Security Threats
Counterterrorism and Emerging Security Threats
 
Government Debt, Taxes, and the Weakness of the Global Recovery
Government Debt, Taxes, and the Weakness of the Global RecoveryGovernment Debt, Taxes, and the Weakness of the Global Recovery
Government Debt, Taxes, and the Weakness of the Global Recovery
 
US Budget and Deficits
US Budget and DeficitsUS Budget and Deficits
US Budget and Deficits
 
Global themes brief energy water nexus and sustainability
Global themes brief energy water nexus and sustainabilityGlobal themes brief energy water nexus and sustainability
Global themes brief energy water nexus and sustainability
 
Energy-water nexus and sustainability
Energy-water nexus and sustainabilityEnergy-water nexus and sustainability
Energy-water nexus and sustainability
 
Water Security: Bonus material
Water Security: Bonus materialWater Security: Bonus material
Water Security: Bonus material
 
DCFR member shares presentation
DCFR member shares presentationDCFR member shares presentation
DCFR member shares presentation
 
Exxon Mobil 2012 Energy Outlook
Exxon Mobil 2012 Energy OutlookExxon Mobil 2012 Energy Outlook
Exxon Mobil 2012 Energy Outlook
 
Cities as Opportunity and Threat
Cities as Opportunity and ThreatCities as Opportunity and Threat
Cities as Opportunity and Threat
 
Entrepreneurs, growth, cities
Entrepreneurs, growth, citiesEntrepreneurs, growth, cities
Entrepreneurs, growth, cities
 
Mapping Demography: Global Hot Spots
Mapping Demography: Global Hot SpotsMapping Demography: Global Hot Spots
Mapping Demography: Global Hot Spots
 
Pakistan, Afghanistan, and U.S. Power
Pakistan, Afghanistan, and U.S. PowerPakistan, Afghanistan, and U.S. Power
Pakistan, Afghanistan, and U.S. Power
 
Jack Goldstone on Demographic Change and Global Futures
Jack Goldstone on Demographic Change and Global FuturesJack Goldstone on Demographic Change and Global Futures
Jack Goldstone on Demographic Change and Global Futures
 
Oil Shocks and OPEC
Oil Shocks and OPECOil Shocks and OPEC
Oil Shocks and OPEC
 
Global Gas: Changing Trade Routes and Geopolitics
Global Gas: Changing Trade Routes and GeopoliticsGlobal Gas: Changing Trade Routes and Geopolitics
Global Gas: Changing Trade Routes and Geopolitics
 

Último

Unleashing the Power of Fandom: A Short Guide to Fan Business
Unleashing the Power of Fandom: A Short Guide to Fan BusinessUnleashing the Power of Fandom: A Short Guide to Fan Business
Unleashing the Power of Fandom: A Short Guide to Fan Businesstompeter3736
 
Wallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loanWallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loansujat8807
 
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)CXO 2.0 Conference
 
Olympus 38DL Plus Ultrasonic Thickness Gauge
Olympus 38DL Plus Ultrasonic Thickness GaugeOlympus 38DL Plus Ultrasonic Thickness Gauge
Olympus 38DL Plus Ultrasonic Thickness GaugeStephenKim86
 
EPC Contractors aspects Presentation.pdf
EPC Contractors  aspects Presentation.pdfEPC Contractors  aspects Presentation.pdf
EPC Contractors aspects Presentation.pdfGiuseppe Tommasone
 
The Smart Bridge Interview now Veranda Learning
The Smart Bridge Interview now Veranda LearningThe Smart Bridge Interview now Veranda Learning
The Smart Bridge Interview now Veranda LearningNaval Singh
 
Digital Marketing Training Program skills s
Digital Marketing Training Program skills sDigital Marketing Training Program skills s
Digital Marketing Training Program skills sgodxzyrox
 
unfinished legacy it is a clothing brand
unfinished legacy it is a clothing brandunfinished legacy it is a clothing brand
unfinished legacy it is a clothing brandakashm530190
 
Mist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi ArabiaMist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi Arabiaopstechsanjanasingh
 
AirOxi - Pioneering Aquaculture Advancements Through NFDB Empanelment.pptx
AirOxi -  Pioneering Aquaculture Advancements Through NFDB Empanelment.pptxAirOxi -  Pioneering Aquaculture Advancements Through NFDB Empanelment.pptx
AirOxi - Pioneering Aquaculture Advancements Through NFDB Empanelment.pptxAirOxi Tube
 
Record of Module Forensic photography in
Record of Module Forensic photography inRecord of Module Forensic photography in
Record of Module Forensic photography inalexademileighpacal
 
"InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age""InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age"Adharsh45
 
Benihana of Tokyo case study11111111.pdf
Benihana of Tokyo case study11111111.pdfBenihana of Tokyo case study11111111.pdf
Benihana of Tokyo case study11111111.pdfjavenxxx01
 
Meet Raj Shamani: A Trailblazing Entrepreneur
Meet Raj Shamani: A Trailblazing EntrepreneurMeet Raj Shamani: A Trailblazing Entrepreneur
Meet Raj Shamani: A Trailblazing Entrepreneurramya202104
 
Presented by Sabri international .......
Presented by Sabri international .......Presented by Sabri international .......
Presented by Sabri international .......SABRI INTERNATIONAL
 
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAYLouis Malaybalay
 
Green Innovations: Wristbands Ireland's Eco-Friendly Products
Green Innovations: Wristbands Ireland's Eco-Friendly ProductsGreen Innovations: Wristbands Ireland's Eco-Friendly Products
Green Innovations: Wristbands Ireland's Eco-Friendly ProductsWristbands Ireland
 
14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdf14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdfEni
 
Dashboards y paneles - CP Home - Area de Operaciones
Dashboards y paneles - CP Home - Area de OperacionesDashboards y paneles - CP Home - Area de Operaciones
Dashboards y paneles - CP Home - Area de OperacionesLPI ONG
 

Último (20)

WAM Corporate Presentation Mar 12 2024_Video.pdf
WAM Corporate Presentation Mar 12 2024_Video.pdfWAM Corporate Presentation Mar 12 2024_Video.pdf
WAM Corporate Presentation Mar 12 2024_Video.pdf
 
Unleashing the Power of Fandom: A Short Guide to Fan Business
Unleashing the Power of Fandom: A Short Guide to Fan BusinessUnleashing the Power of Fandom: A Short Guide to Fan Business
Unleashing the Power of Fandom: A Short Guide to Fan Business
 
Wallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loanWallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loan
 
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
 
Olympus 38DL Plus Ultrasonic Thickness Gauge
Olympus 38DL Plus Ultrasonic Thickness GaugeOlympus 38DL Plus Ultrasonic Thickness Gauge
Olympus 38DL Plus Ultrasonic Thickness Gauge
 
EPC Contractors aspects Presentation.pdf
EPC Contractors  aspects Presentation.pdfEPC Contractors  aspects Presentation.pdf
EPC Contractors aspects Presentation.pdf
 
The Smart Bridge Interview now Veranda Learning
The Smart Bridge Interview now Veranda LearningThe Smart Bridge Interview now Veranda Learning
The Smart Bridge Interview now Veranda Learning
 
Digital Marketing Training Program skills s
Digital Marketing Training Program skills sDigital Marketing Training Program skills s
Digital Marketing Training Program skills s
 
unfinished legacy it is a clothing brand
unfinished legacy it is a clothing brandunfinished legacy it is a clothing brand
unfinished legacy it is a clothing brand
 
Mist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi ArabiaMist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi Arabia
 
AirOxi - Pioneering Aquaculture Advancements Through NFDB Empanelment.pptx
AirOxi -  Pioneering Aquaculture Advancements Through NFDB Empanelment.pptxAirOxi -  Pioneering Aquaculture Advancements Through NFDB Empanelment.pptx
AirOxi - Pioneering Aquaculture Advancements Through NFDB Empanelment.pptx
 
Record of Module Forensic photography in
Record of Module Forensic photography inRecord of Module Forensic photography in
Record of Module Forensic photography in
 
"InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age""InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age"
 
Benihana of Tokyo case study11111111.pdf
Benihana of Tokyo case study11111111.pdfBenihana of Tokyo case study11111111.pdf
Benihana of Tokyo case study11111111.pdf
 
Meet Raj Shamani: A Trailblazing Entrepreneur
Meet Raj Shamani: A Trailblazing EntrepreneurMeet Raj Shamani: A Trailblazing Entrepreneur
Meet Raj Shamani: A Trailblazing Entrepreneur
 
Presented by Sabri international .......
Presented by Sabri international .......Presented by Sabri international .......
Presented by Sabri international .......
 
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
 
Green Innovations: Wristbands Ireland's Eco-Friendly Products
Green Innovations: Wristbands Ireland's Eco-Friendly ProductsGreen Innovations: Wristbands Ireland's Eco-Friendly Products
Green Innovations: Wristbands Ireland's Eco-Friendly Products
 
14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdf14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdf
 
Dashboards y paneles - CP Home - Area de Operaciones
Dashboards y paneles - CP Home - Area de OperacionesDashboards y paneles - CP Home - Area de Operaciones
Dashboards y paneles - CP Home - Area de Operaciones
 

Trade, Growth, and Green

  • 1. ‘ ‘ Global Themes an issues brief series of the Dallas Committee on Foreign Relations DCFR Dallas Committee on Foreign Relations Issue No. 2 June 21, 2011 Trade, Growth, and Green Rising to 21st Century Challenges “We are the leading trading nation in world, and therefore we stand to profit the most from a successful conclusion to the Doha Development Round. We need Globe Trade Advances Under Doha to make a successful conclusion a much higher priority.” The Doha Development Round is the JW: What should the U.S. be doing With respect to Colombia, for current trade-negotiation round of the with regard to the Doha Development example, ninety percent of World Trade Organization(WTO), Round? Colombian shipments are already which began in November 2001. duty free with current trade As of 2008, talks have stalled over Bacchus: What we are missing most agreements. However, what we sell a divide on major issues, such as of all is political will, in the United to the Colombians now faces many agriculture, industrial tariffs and States and elsewhere, to make Doha tariff and non-tariff barriers. Many non-tariff barriers, services, and the global priority it ought to be. of these barriers will be eliminated trade remedies. The most significant Countries should make the national over time if we conclude the pending differences are between developed decisions necessary within an agreement. While the U.S. dithers nations led by the European Union, international context to put together politically, Canada, Europe and the U.S., and Japan and the major a global deal. The rest of the world others are concluding trade deals is looking to the U.S. for leadership. with a country that is a strong ally developing countries led and It’s not clear whether we will be and long-standing trading partner of represented mainly by Brazil, China, able to summon the political will ours. Right now China is building India, South Korea, and South needed to lead. Before proceeding a railroad from the Pacific to the Africa. The Doha Round began with with Doha, given our domestic Caribbean in cooperation with the a ministerial-level meeting in Doha, politics, we need to clear from our Colombians to facilitate trade Qatar in 2001. Subsequent ministerial agenda three long-delayed pending between Colombia and China. meetings took place in Cancun, free-trade agreements, the Korean, Mexico (2003), and Hong Kong Colombian and Panamanian free- (2005). Related negotiations took trade agreements. They would all add place in Geneva, Switzerland (2004, significantly to growth of the U.S. 2006, 2008); Paris, France (2005); economy at a time when we much On June 8th, DCFR President Jennifer and Potsdam, Germany (2007). The need it. Approving these agreements Warren interviewed former chairman of most recent round of negotiations in would produce jobs in the U.S. that the appellate body of the WTO, James would pay more and last longer than Bacchus. He currently leads the global July 2008 broke down after failing to jobs not involved in international practice at Greenberg Traurig. The reach a compromise on agricultural trade. brief’s content is predominantly based import rules. on his comments. 4925 Greenville Ave, Suite 1025 | Dallas, Texas 75206 | 214.750.1271 | dallascfr.org
  • 2. 2 Once we conclude these pending We are the leading trading nation Africa, for the next round of climate free-trade agreements, we can in world, and therefore we stand to change negotiations in December. focus politically in the U.S. on the profit the most from a successful One of our recommendations is to multilateral negotiations that have conclusion to the Doha Development enact climate measures nationally been at an impasse for years. Our Round. We need to make a that are consistent with WTO economic opportunities are much successful conclusion a much higher obligations to avoid a collision greater multilaterally than bilaterally priority. course between trade and climate to produce jobs and economic change in WTO dispute settlement. growth. Under the rules of WTO, We also consider how the trading any concessions that are negotiated system can be used affirmatively by one country are then multi- Trade and Greenery to combat climate change and lateralized. This “multilateralizing” promote green growth worldwide. multiplies the opportunity to lower New thinking suggests that WTO One important recommendation trade barriers and is by far the best rules can be used proactively to is to lower and eliminate trade way to increase the overall volume allow for more green trade. By barriers on environmental goods and of trade, thus expanding the potential using WTO rules, climate-friendly services globally. This is already an for global prosperity. This potential technologies can be made more important item on the Doha agenda. cannot be underestimated. Over accessible to developing countries Additionally, we look at ways to the past half a century, by lowering for energy efficiency and to adapt to protect intellectual property and how barriers to trade and investment, we and mitigate climate change effects. to encourage its dissemination to have added $1 trillion annually to Areas that are at-risk for negative help developing countries combat the U.S. economy. If we eliminated climate change effects include energy, all remaining barriers to trade and investment world-wide, we would add another $500 billion per year to the U.S. economy. Where do we find the political will? The rest of the world is willing to make additional concessions to the U.S. to lower barriers to manufacturing trade and trade in services. We also want trade facilitation to eliminate red tape. All this is rightly on our agenda. Other countries are willing to give us more, but we must be willing to give them more in return. They want market access in the U.S. where they have a comparative advantage. water, agriculture, and infrastructure. climate change while also ensuring Many countries around the world Lowering or eliminating barriers to the continued protection of IP have a comparative advantage in green goods and services would help rights. Another recommendation agriculture. They want us to reduce in their being diffused globally. suggests creating an exception in our agricultural subsidies that distort JW: What is at the top of the agenda WTO rules for green subsidies. and protect our markets. But it’s for the Davos working group on trade Such an exception existed in WTO politically difficult to reduce these and climate change for which you rules initially but lapsed when WTO in the U.S. They want us to redress chair? members failed to extend it in Seattle. how we deal with imports and WTO Members should revisit this how we apply trade remedies more JB: We produced a report with a issue to reach consensus to allow new extensively than we should. This number of specific recommendations. green subsidies without distorting concession too would be politically These recommendations are acquiring trade worldwide. This means drawing difficult for us. But if we want more some currency in the councils a line; we must draw it in a way that from Doha, we must give more. The of the WTO and in discussions is compatible with continuing trade biggest hurdles are our inabilities to make concessions on agriculture among climate negotiators who and also with addressing climate subsidies and trade remedies. will be heading to Durban, South change.
  • 3. 3 Climate Change, Forests, and “The rest of world is baffled that the US—a scientific society invested in the sci- Green Trade entific method and in the application of scientific findings to new technologies— is somehow resisting scientific evidence on this critical human issue.” Reducing Emissions from Deforestation and Forest Degradation emerging economies in part because law and in the potential for the (REDD) is a set of steps designed we remain significantly more energy international rule of law for helping to use market/financial incentives efficient than they are. But we can’t us address concerns that can only in order to reduce the emissions of be content with that. We need to be resolved globally. Foremost of greenhouse gases from deforestation find better ways to become more concern to me is climate change. It and forest degradation. The initiative energy efficient. We won’t find those is inherently a global issue requiring also can deliver “co-benefits” such as methods and innovations unless we global actions, and thus we need biodiversity conservation and poverty proceed from the necessary premise global rules. From Copenhagen’s alleviation. that climate change is real, it is man- outcome, it is apparent we will made, and we have to deal with it not magically and suddenly have REDD is presented as an “offset” on those terms. The vast majority a comprehensive global treaty on scheme of the carbon markets and of major America businesses that climate change. We have to build thus, will produce carbon credits. do not have a stake in the status an architecture over time to address Carbon offsets are “emissions-saving quo have already acknowledged climate change on a global basis. projects” that in theory “compensate” and internalized this and are acting REDD is one very good practical way for the polluters’ emissions. The on this premise. It is imperative to do so. “carbon credits” generated by these our politicians do the same. It is projects can be used by industrialized So I have focused on forest issues especially imperative that they do so governments and corporations to in a shared global effort with many because around the world countries meet their targets and/or to be traded others of like mind to begin to build and citizens everywhere else are within the carbon markets. from the forests up the global legal doing so. The rest of world is baffled that the US—a scientific society architecture we need to address “Between 15% and 20% of all invested in the scientific method climate change. We hope we can greenhouse gases worldwide result and in the application of scientific build on the REDD and other similar from deforestation -- an amount equal findings to new technologies— is initiatives to create a comprehensive to the emissions of all the world’s somehow resisting scientific evidence global effort to address climate cars, trucks, trains, ships, and planes on this critical human issue. change over time. This is a practical combined,” writes Bacchus in a approach, and an incremental recent article. REDD is expected JW: Can REDD be a building block approach. It took us half a century to play a crucial role in a future for a comprehensive climate change to evolve GATT (the General successor agreement to the Kyoto treaty? How? Agreement on Tariffs and Trade) into Protocol, the soon-to-expire global the WTO. The world trading system climate change treaty. JB: I went to the WTO for two is still not where it ought to be. We reasons. First, I believe in the are continuing to build incrementally JW: How can the U.S., or its potential of trade for promoting in trade. An all-too-real challenge politicians, ignore the fact that freedom globally. There is a is that we don’t have a lot of time for Norway will spend $1 billion for connection between free trade, incrementalism in climate change; so Indonesian forest conservation freedom, and advancing prosperity. we have to get to work yesterday. efforts? What are the dynamics Second, I believe in the rule of hampering U.S. adoption of progressive climate change initiatives? JB: We need to ensure our energy supplies and improve our energy efficiency if we hope to be more competitive in this new world in which we find ourselves. Essentially this is an issue of environmental protection but also economic competition. It’s a jobs issue. We have a significant comparative advantage over China and other
  • 4. 4 June 21, 2011 JW: Is there a country or group of Food insecurity is creating the The Smith and Ricardo views of the countries that can most effectively increasing trend of many countries world remain accurate. It is important further and encourage a green trade imposing restrictions on exports. to keep this in mind as the world’s agenda at this point? This is shortsighted, self-defeating countries confront the reality that we and ultimately suicidal economics. do have limited natural resources. We JB: My view is that all countries must But there is a political temptation must find greater efficiencies and the be engaged, but clearly the biggest to impose these export restrictions fairest ways to allocate our resources emitters are the ones that can make all over the world. It’s happening in to feed, sustain and advance a global the biggest difference. If the top food, commodities, raw materials, population that will soon number nine emitters could get working on this and rare earths. billion. and reach consensus it would advance us further. We are not quite there yet China is imposing restrictions on JW: How do you see this tension on the biggest emitters [laughs of exports of rare earth elements, between population growth and irony]. which are the basic ingredients of finding balance in prosperity? our technological society. It makes no sense for them to do this because JB: I am not a Malthusian. Human the Chinese are heavily dependent ingenuity can create all kinds of ways Food Security to serve a growing population. The on exports from other countries to Food insecurity has proven to fuel their continued growth. If China Green Revolution in agriculture in the have potentially destabilizing restricts exports that are needed post-war era is one such example. I consequences. It played a role in elsewhere, what is to stop China’s have faith in our ability to make the the uprisings in Tunisia, Egypt trading partners from reciprocating? global pie larger in a world in which and elsewhere. Food is now a geo- It is ultimately self-defeating because resource constraints will become political issue like never before. no one country is self-sufficient in ever more a factor; but we have to be Rising food prices push citizens of everything. smart about doing it. We will have a developing countries further toward brighter economic future only if we poverty. Domestically, rising prices The opportunities in global growth have a sustainable approach to the catalyze leaders to take protective come from dividing and sub-dividing future. We must protect and make the measures that have unintended the division of labor that creates the most of our limited natural resources. consequences domestically and wealth of nations. This is not me We must be smart about how we globally as interconnected trade saying this; it is Adam Smith. The apply our technologies. I don’t think and markets become distorted. best way forward is for each country we are doing that in all the ways we Agriculture trade is one of the most to pursue its comparative advantage should. contentious issues in the WTO. in what it does relatively better than other countries. Again, this is not JW: What do you think is the best path me; this is David Ricardo talking. forward for addressing food security issues? JB: Increasingly I’m working with others around the world of like mind on the nexus of trade, climate change, food, energy, agriculture and a variety of other issues related to the reality of our all-too-limited natural resources. One such area of our concern is water. Water is simultaneously a climate, food, energy, agriculture, and trade issue. Soaring food prices and volatility have all kinds of societal consequences. They played a role in the Arab spring and are driving up inflation globally even as we speak. They contribute to a dangerous and self-destructive trend toward economic nationalism globally.
  • 5. 5 Chinese Rare Earths and Trade JW: With regards to China’s China, however, could do much more restrictions of rare earths exports, is to be consistent and comply with China began restricting its export of this a sign of the times or will China WTO rules, particularly in the area rare-earth elements, partially after reverse it course? of intellectual property. The U.S. a row with Japan last year. These International Trade Commission restrictions are said to be in violation JB: China has acted responsibly as a released a study recently, which WTO member. Domestically, it has concluded that we could create 2.1 of WTO rules. China holds about competing interests. The Chinese million more jobs in the United States half of the world’s supply of rare have complied with WTO obligations if China complied fully with all of earths and produces about 93% of when they have been found violating its existing WTO obligations relating the world’s supply. It has created them. This cannot always be said to patents, copyrights, trademarks, vulnerability for those countries and about other countries, including our and other IP rights. So I encourage firms importing rare earths that are own. This week the Chinese decided the U.S. to be more aggressive in essential in many high-tech products to eliminate some discriminatory insisting on compliance by China, such as mobile phones and batteries subsidies in their wind power including continued and increased for hybrid cars. A recent article cites: industry, in response to a complaint use of WTO dispute settlement. This “However, rising prices fit neatly by the United States. is one part of meeting the overall with China’s ambition to end its role challenge of finding ways to advance as supplier of cheap rare earths to the I personally represented the U.S. the cause of trade without resorting to entertainment industry in two WTO the false promise of protectionism. world. As Mr. Lin of the Rare Earths cases brought by the United States Society says: “Prices of gold, oil and against China that involved Chinese Written by Jennifer Warren, President of DCFR other commodities are all high. Why copyright piracy of music, movies should the cost of rare earths not be and books. We won those two cases, high, too?” and now the Chinese are complying with their WTO obligations. GeoEdge The Dallas Committee on Foreign Relations takes no institutional positions on policy issues. The views ex- BLOG pressed and facts presented in DCFR publications are the responsibility of the author or authors. Exploring the frontlines of For additional information about DCFR, please visit our website foreign affairs at www.dallascfr.org. Dallas Committee on Foreign Relations is a non-profit organization focused on explor- ing leading-edge developments in foreign affairs. Our mission is to promote knowledge http://geoedge.org/ of global affairs and a better understanding of the people and events impacting impor- tant policy choices of the future. For more information contact: Dallas Committee on Foreign Relations 4925 Greenville Ave, Suite 1025 Dallas, Texas 75206 (email) dcfr@dallascfr.org (tel) 214.750.1271