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Getting America Back In The Game: A Multilateral Perspective

How can friends of the multilateral system re-engage the United States under President-elect Biden?

By: , , , , and Date: January 28, 2021 Topic: Global economy and trade

This article was originally published on the Geneva Trade Platform.

The Trump administration forcefully and explicitly undermined multilateral economic cooperation. This could not have come at a worse time. The world is facing two immediate and era-defining challenges in 2021: the global pandemic, and the global recession. Equally important is the need for multilateral cooperation on climate and the environment. Tackling these challenges will require constructive engagement of all the world’s largest economies.

How should nations who support multilateralism help get America back to supporting, strengthening, and improving a fair, rules-based trading system that provides good jobs, rising living standards, and prosperity for all?

On the current trajectory, the answer to that question seems destined to rely on bilateralism. We argue that bilateralism is not the right way to spark multilateralism. We suggest that there is a bigger, bolder, broader, more multilateral pathway to a reinvigorated international economic cooperation. The plan has two pillars: 1) working together, and 2) formulating initiatives as ‘trade tracks’ in the broad portfolio of foreign policy and climate policy initiatives.

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Upcoming Event

Feb
2
14:00

Towards an inventory of corporate subsidies by China, the EU and the USA

In this event panelists will discuss the latest report of the 28th Global Trade Alert Report, 'Subsidies and market access: Towards an inventory of corporate subsidies by China, the European Union and the United States'.

Speakers: Simon J. Evenett, Denis Redonnet, André Sapir and Reinhilde Veugelers Topic: Global economy and trade Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Opinion

How an open climate club can generate carbon dividends for the poor

The German-led G7 can accelerate decarbonisation while tackling climate justice.

By: Andreas Goldthau and Simone Tagliapietra Topic: Green economy Date: January 11, 2022
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Working Paper

Timely measurement of real effective exchange rates

This paper contributes to the measurement of monthly consumer price index-based real effective exchange rates with two main novelties.

By: Zsolt Darvas Topic: Global economy and trade Date: December 23, 2021
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Blog Post

What to make of the EU-US deal on steel and aluminium?

While deeply disappointing that the surprise deal maintains aluminium and steel tariffs against the EU beyond a modest quota, it alleviates a major irritant in transatlantic relations and contains interesting and innovative features relating to climate policy and to dispute settlement under WTO rules.

By: Uri Dadush Topic: Global economy and trade Date: November 4, 2021
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Podcast

Podcast

The state of trade: the EU's trade policy

A conversation with Member of the European Parliament Bernd Lange on the European Union’s trade policy.

By: The Sound of Economics Topic: Global economy and trade Date: November 3, 2021
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External Publication

Global Economic Resilience: Building Forward Better

A roadmap for systemic economic reform calling for step-change in global economic governance to increase resilience and build forward better from economic shocks, prepared for the G7 Advisory Panel on Economic Resilience.

By: Thomas Wieser Topic: Global economy and trade, Macroeconomic policy Date: October 14, 2021
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Opinion

The geopolitical conquest of economics

Although economics and geopolitics have never been completely separate domains, international economic relations were shaped for 70 years by their own rules. But the rise of China and its growing rivalry with the United States have brought this era to an end.

By: Jean Pisani-Ferry Topic: Global economy and trade Date: October 4, 2021
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Opinion

Making supply chains more resilient

After the current global semiconductor shortage, business leaders and policymakers must think now about how to minimise the effects of future exogenous shocks on production networks and the global economy.

By: Dalia Marin Topic: Global economy and trade Date: September 14, 2021
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External Publication

European governance

EU-India trade relations: assessment and perspectives

In-depth analysis prepared for the European Parliament's Committee on International Trade (INTA).

By: Suman Bery, Sonali Chowdhry, Alicia García-Herrero and Niclas Poitiers Topic: European governance, Global economy and trade Date: September 10, 2021
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Past Event

Past Event

The role of the EU's trade strategy for an inclusive and sustainable recovery

Bruegel Annual Meetings, Day 3 - We are delighted to welcome Valdis Dombrovskis, Executive Vice President of the European Commission for An Economy that Works for People to talk about Europe's trade strategy.

Speakers: Valdis Dombrovskis, Alicia García-Herrero and Guntram B. Wolff Topic: Macroeconomic policy Location: Palais des Academies, Rue Ducale 1 Date: September 3, 2021
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Past Event

Past Event

Towards a new global trade regime: reform of the WTO

Bruegel Annual Meetings, Day 2 - the World Trade Organisation has been going through trying times, a phenomenon amplified by the pandemic. Why are we headed towards a new global trade regime? And what lies ahead for the WTO?

Speakers: Ngozi Okonjo-Iweala and Guntram B. Wolff Topic: Global economy and trade Location: Palais des Academies, Rue Ducale 1 Date: September 2, 2021
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Blog Post

A world divided: global vaccine trade and production

COVID-19 has reinforced traditional vaccine production patterns, but the global vaccine trade has changed considerably.

By: Lionel Guetta-Jeanrenaud, Niclas Poitiers and Reinhilde Veugelers Topic: Global economy and trade Date: July 20, 2021
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