Global Economic Trends: The Trading System
As global financial markets face continuing turmoil and the U.S. presidential election progresses, what are the prospects for free trade? In Jagdish Bhagwati's new book, Termites in the Trading System: How Preferential Agreements Undermine Free Trade, Professor Bhagwati argues that the pursuit of free trade via preferential trade agreements (PTAs) has put the world trading system at risk and undermined the prospects for the multilateral freeing of trade. Please join Professor Bhagwati and President Zedillo for a discussion of global economics, trade, and the consequences of PTAs.
Experts discuss the the current global economy and their skepticism of effective capital control, as well as the future of currency pegging, fixed currency rates, and capital mobility.
This session was part of CFR's Stephen C. Friedheim Symposium on Global Economics which was made possible through generous support from Stephen C. Freidheim.
Lori Wallach, director of Public Citizen's Global Trade Watch, discusses investment treaties, their implications for policies to promote financial stability and sustainable use of natural resources, and the flaws of the arbitration system used by investors and nations to settle conflicts, with a focus on the global south.