Industrial Subsidies, State-Owned Enterprises and WTO Reform: Prospects for Cooperation?

The EU's COVID‐19 policy response and the restructuring of global value chains

“…In the case of a large market like Japan, the US or the EU, one could imagine that several would be motivated and willing to mount such a challenge. In addition, expanding the role of the state in their own economies sits uneasily with the Western powers' frequently expressed concern about the distortive effect on global trade of government subsidies and state‐owned enterprises (SOEs) in emerging countries, especially China (McDonagh & Draper, 2020). Although the WTO dispute settlement system is currently blocked, the EU is committed to continued respect of its rules, while simultaneously seeking to strengthen the institution and address trade distorting subsidies and SOEs within this context (CEC, 2021).…”

System rivalry during pandemic times: an institutional political economy view of great power vaccine diplomacy

“…Furthermore, unlike other Asian economies, with the brief exception of Japan during the 1980s, China is now systemically central to the global economy, is still growing its economy at a high annual rate and is on track to become the largest economy by the late 2020s, surpassing the nominal Gross Domestic Product of the United States. China's largest trading partners, the United States, EU and Japan are increasingly calling for further reform of China's model of state capitalism (McDonagh & Draper, 2020). Furthermore, the long held view that China's post-1978 economic reforms would eventually lead the country to converge with the West politically and normatively are giving way to the view that China is a revisionist rising power (Johnston, 2019, p. 9).…”

Priority setting in international trade – application of multiple criteria decision analysis for Australian-Indonesia trade in the health sector.

“…From the 'weaponisation of trade' to the pandemic-disrupted supply chains and border restrictions, there have been greater calls for protectionism, national self-sufficiency, 'vaccine nationalism,' restrictions on the export of vital medical components and equipment, and on-or near-shoring of supply chains 18 . Today's trade reality sees recognition of a need for a more proactive approach in the facilitation and promotion of international trade to assist certain industries in the light of geopolitical shifts while still 'playing by the rules' of international trade and market competition 12,19 . This is particularly apparent for the Indo-Pacific region 20 .…”