In this New York Sun op-ed, Jagdish Bhagwati and Arvind Panagariya make the case for optimism on the Doha Round. A compromise is possible if the U.S. agrees to cap trade-distorting subsidies at a minimum of the current payouts and India agrees to a downscaling of the Special Safeguard Mechanism.
As in the 1980s, the United States is once again a fearful giant. In this Financial Times op-ed, Jagdish Bhagwati writes that only an agenda for institutional change that addresses the fragility of jobs and enables workers to face new uncertainties has a chance of returning trade policy to sanity.
Authors: Amity Shlaes and Douglas A. Irwin Wall Street Journal
The failure of the Doha Round does not call for despair, but turning talks into agreements will require leadership that can endure a long, lurching process, without instant success. In this Wall Street Journal op-ed, Douglas Irwin and Amity Shlaes point to Cordell Hull, Secretary of State from 1933 to 1944, as a model for leadership on trade.
The news that the Doha Round of the World Trade Organization has broken down in Geneva has made many Americans pessimistic about the future of multilateral trade agreements. In this Center for Geoeconomic Studies Working Paper, Douglas A. Irwin makes the case for optimism and argues that the key to advancing the free-trade cause is political leadership of the sort demonstrated by a heroic but near-forgotten figure, the late secretary of state Cordell Hull of Tennessee. Irwin traces Hull’s path through the decades and shows how his legacy lights the way for leaders of both political parties.
Iraq says it wants to sell oil contracts to foreign energy firms. The potential impact on energy markets could be large, but practical and political obstacles still prevent rapid production increases.
Because of their discriminatory effect and the preferential treatment they give to member nations, Free Trade Agreements must be placed on moratorium, writes Jagdish Bhagwati.
Don Oberdorfer, an expert on the two Koreas, says the recent street protests ostensibly against the import of U.S. beef are much more political protests against the new conservative government in Seoul.
With the Doha trade round in danger of slipping from our grasp, it has become commonplace to assert that the food crisis, while a tragedy, is a shot in the arm for the talks. In this Financial Times op-ed, Jagdish Bhagwati and Arvind Panagariya find that only one such argument passes muster—the fact that high food prices should soften U.S. opposition to lower agricultural subsidies, thereby relaxing key constraints on the final compromises necessary to reach an agreement on agricultural liberalisation.
EU policymakers debate cutting farm subsidies as legislators on both sides of the Atlantic consider how trade distortions fit into the global food crisis.
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
Special operations play a critical role in how the United States confronts irregular threats, but to have long-term strategic impact, the author argues, numerous shortfalls must be addressed.
The author analyzes the potentially serious consequences, both at home and abroad, of a lightly overseen drone program and makes recommendations for improving its governance.
Two experts argue that despite myriad development strategies, only one can succeed in alleviating poverty in India: the overall growth of the country's economy. More