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21st Century Regionalism: Filling the gap between 21st century trade and 20th century trade rules
2 作者信息
Richard Baldwin
3 出处和链接（比如，NBER working paper No.11000）
CEPR Policy Insight No. 56
4 摘要
The last time multilateral trade rules were
updated, Bill Clinton was in his frst term
of offce, data was shared by airmailing 1.4
megabyte HD foppy disks (few people had
email), cellphones looked like bricks and calling
costs were measured in dollars per minute. Trade
mostly meant selling goods made in a factory
in one nation to a customer in another. Simple
trade needed simple rules – a fact refected in
both multilateral and regional trade agreements.
Today’s trade is radically more complex. The
ICT revolution fostered an internationalisation
of supply chains, and this in turned created the
“trade-investment-service nexus” at the heart
of so much of today’s international commerce.
Complex trade needs complex rules. As the
WTO was otherwise occupied, the incipient
governance gap was flled by uncoordinated
developments elsewhere – primarily in deep
regional trade agreements, bilateral investment
treaties, and autonomous reforms in emerging
economies. The resulting package of deeper
disciplines – what could be called “21st century
regionalism” – requires new thinking.
PolicyInsight56.pdf
(1.08 MB)
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