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Articles on bilateral trade agreement
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A Biden presidency promises a return to multilateral trade agreements. But it remains to be seen how it approaches the World Trade Organisation.
As the trade spat between China and the US continues, it is likely to spill over to other countries. For Australia and New Zealand, this could bring both risks and opportunities.
Trade wars are generally bad. But far worse for Australia is that the US and China make peace through a deal to establish a bilateral world order.
Indonesia is more important to Australia than many Australians realise.
The death of the rules-based world order that supports the global economy and free trade has been greatly exaggerated.
International trade policy requires three traits to be successful and lead to mutual prosperity. Trump’s is missing all three, as he showed at the G-7 summit.
The Trump administration’s new deal with China, which won’t benefit many workers, shows the pitfalls of pursuing bilateral agreements at the expense of multilateral ones like NAFTA.
Trade under Trump will mean more bilateral agreements, hard bargaining and ultimatums, a sharp departure from Obama’s multilateral, win-win approach.
The agreement could be as good as dead, if, instead of pushing ahead without the US, its members decide to explore bilateral trade agreements with the country.
It seems in the current global turbulence multilateral trade deals are dead, long live bilateral agreements.
Top contributors
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Lecturer of international trade law, Monash Business School, Monash University
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Global Fellow at the Wahba Institute for Strategic Competition, Associate Professor at the University of Arizona, University of Arizona
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Industry Professor and Chief Economist, University of Technology Sydney
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Distinguished Professor, Arthur J. Gosnell Professor of Economics, & Head, Department of Sustainability, Rochester Institute of Technology
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Assistant Professor of Economics, University of California, Merced
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Regents Professor of Law and Communication and Director of the Center for Law and Intellectual Property, Texas A&M University
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Professor of Law, UNSW
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Professor of International Politics, SOAS, University of London
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Associate professor, Te Herenga Waka — Victoria University of Wellington
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Research Assistant, Te Herenga Waka — Victoria University of Wellington
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Senior Research Fellow & Research Lead (Trade and Economic Policy) at the Institute of South Asian Studies (ISAS), National University of Singapore
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Economist, Scotland's Rural College