Noneconomic Objectives, Global Value Chains and International Cooperation
Bernard M. Hoekman,
Petros C. Mavroidis,
Douglas R. Nelson
Abstract:Systemic conflicts increasingly affect the global value chains (GVCs) underpinning globalization by creating policy uncertainty and politicizing trade and investment decisions. Unilateral policies to attain competitiveness and noneconomic objectives (NEOs), including national security, create incentives for international cooperation to attenuate policy spillovers. Recent initiatives seeking to do so are organized around supply chain governance and need not be anchored in trade agreements. Whether such cooperat… Show more
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