The global trading system is in disarray. The COVID-19 epidemic has led to a steep drop in trade. The World Trade Organization (WTO) expects a decline in merchandise trade of between 13 and 32 per cent this year. The trade dispute between the United States and China is threatening to seriously escalate again. The United States is putting the global trade order in jeopardy by blocking nominations for the appellate body of the WTO. The WTO Ministerial Meeting has been called off; the Director General has announced that he will step down. What is going on? Are we facing the end of the post-World War II global trading order? Following on from the introductory economics classes of the first semester, "The political economy of world trade" aims at providing a hands-on approach to the analysis of international trade relations. This course has a strong policy orientation, using current issues and challenges in trade policymaking as the starting point of each session. Economic research and theoretical elements will be studied in order to come to concrete policy options.
Our class features four sections:
1. Drivers of world trade;
2. The political economy of trade policymaking;
3. The multilateral trading system; and
4. Preferential trade agreements.
We will also have the opportunity to discuss trade hands on with policymakers and practitioners.
This course is for 2nd year MIA and MPP students only.