Preserving the Future and Global Trade Relations: Impacts of Recent Global Developments

摘要

As the United States looks set to order an imposition of tariffs on aluminum (10%) and steel (25%) imports during the first week of March 2018, the announcement does not only appear to be unsettling financial markets, but also triggering further questions relating to whether the announcement signifies the era of protectionist stances – as well as repercussions over possible retaliations by its closest trading partners - and whether the intended aims of such tariffs – namely the protection of jobs, will eventually be countered by detrimental impacts to technological firms and industrial companies. How do we address challenges presented by unequal distribution of the benefits of globalization? Such that the imposition of unduly high tariffs – as well as anti-dumping measures, do not offset positive gains to be derived from trade liberalization and globalization. This special issue highlights progress, rationales and developments attributed to world trade rounds such as the Uruguay and Doha trade rounds – as well as challenges and shortcomings of these rounds. It also aims to highlight and address challenges presented to global trade relations as a result of the failure of central bankers to appreciate fully the consequences and impact – as well as contribution of emerging economies to all time low levels of inflation. This has not been demonstrated in the build up to the 2008 Financial Crisis, but also prompting the introduction of Basel III regulations – and particularly the 2010 Basel leverage ratio.