Transitioning towards a New International Economic Order
Abstract
The international economic order that has governed us for more than 30 years is changing. The globalization that characterized the international economy at the end of the twentieth century and the beginning of the present is being threatened by potential setbacks in the process of globalization, greater protectionist pressures, and an increase in tensions between the main economic powers. We find ourselves in a situation of insecurity and risks of international conflicts unprecedented since the end of the Second World War: cooperation, dialogue, and coexistence between countries is at risk. The central hypothesis of this paper is that we are in a transition towards a new international economic order. The paper examines the foundations and importance of the international economic order, its main milestones and institutions, its main results and the reasons for its weakening. Finally, the possible consequences of these developments are examined.Keywords:
Globalization, Trade, Bretton Woods, International Public LawReferences
Autor, David & David Dorn & Gordon Hanson, 2021. "On the Persistence of the China Shock," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 52(2 (Fall)), pages 381-476.
Amiti, Mary & Mi Dai & Robert C. Feenstra & John Romalis, 2017. "How did China’s WTO entry benefit U.S. prices?," Staff Reports 817, Federal Reserve Bank of New York
Blackwill, Robert D. & Jennifer M. Harris(2016), War by Other Means: Geoeconomics and Statecraft, Harvard University Press, Mass.
Coase, Ronald. H. (1990). The Firm the Market and the Law. Chicago: The University of Chicago Press.
Daunton, Martin. (2023), The Economic Government of the World: 1933-2023, Farrar, Straus & Giroux, New York.
Avraham Ebenstein & Ann Harrison & Margaret McMillan, 2015. "Why are American Workers getting Poorer? China, Trade and Offshoring," NBER Working Papers 21027, National Bureau of Economic Research, Inc.
Dixit, Avinash. (1996). The Making of Economic Policy: A Transaction Cost Politics Perspective (Munich Lectures in Economics), M.I.T. Press, Boston Mass.
Hoekman, Bernard & Santi, Filippo & Shingal, Anirudh, 2023. "Trade effects of non-economic provisions in trade agreements," Economics Letters, Elsevier, vol. 226(C), Economics Letters, Volume 226, May 2023.
Francois, Joseph & Hoekman, Bernard & Manchin, Miriam & Santi, Filippo, 2022. "Pursuing Environmental and Social Objectives through Trade Agreements," CEPR Discussion Papers 17706, C.E.P.R. Discussion Papers.
Hofmann Claudia, Alberto Osnago and Michele Ruta, (2017). "Horizontal Depth: A New Database on the Content of Preferential Trade Agreements". Policy Research working paper; no. WPS 7981. Washington, D.C: World Bank Group.
Hung Tran (2023), How the IMF Can Navigate Great Power Rivalry, The Atlantic Council GeoEconomics Center’s Bretton Woods 2.0 Project.
Jones, Kent, (2004) Who's Afraid of the WTO? Oxford University Press, New York.
Kvedaras, Virmantas & Cseres-Gergely, Zsombor, 2021. "China’s WTO accession and income inequality in European regions: External pressure and internal adjustments," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 34-53.
Kindleberger, Charles y Aliber, Robert (2005), Manias, Panics, and Crashes: A History of Financial Crises, Wiley Investment Classics, 2005.
Krugman, Paul & Maurice Obstfeld (2006), Economía Internacional Teoría y política. Séptima edición PEARSON EDUCACIÓN, S.A., Madrid.
Mansfield Edward. D. & Brian. M. Collins (2003), Economic Interdependence and International Conflict: New Perspectives on an Enduring Debate, Michigan Studies In International Political Economy, The University of Michigan Press, Ann Arbor.
Mattoo, Aaditya; Rocha, Nadia; Ruta, Michele. 2020. Handbook of Deep Trade Agreements. Washington, DC: World Bank.
Pierce, Justin R. & Peter K. Schott, 2016. "The Surprisingly Swift Decline of US Manufacturing Employment," American Economic Review, American Economic Association, vol. 106(7), pages 1632-1662, July.
Ortiz, Felipe. (1986) Chile y el GATT : la Ronda Uruguay, publicado por Compañía Chilena Interoceanica, S.A.
Schaffer, Gregory. (2021), Emerging Powers and the World Trading System, Cambridge University Press.
