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New Evian Group project publication “Peace and Prosperity through World Trade”
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The Foundation is pleased to announce the publication this month of the Evian Group book “Peace and Prosperity through World Trade”. This collection of expert essays was commissioned by the International Chamber of Commerce Research Foundation (ICCRF) and is being published by Cambridge University Press.Featuring contributions from over 50 of the world’s leading thinkers in global trade and related issues, the book was compiled under the direction of Dr Victor K. Fung, Honorary Chairman of ICC, and edited by Fabrice and Jean-Pierre Lehmann, with a foreword by Peter Sutherland, founding Director General of the WTO. The authors make a compelling case that a robust, fair, rules-based multilateral global trade system not only helps economies achieve growth, but also reduces international conflict and tension.
The book is divided into five sections: “Global Systemic Transformation”; “Governance of Global Trade”; “Poverty and Global Inequities”; “Long View on Interlocking Crises” and “Global Business Responsibilities”.
Among the many topics covered in the book’s 54 articles is the historical role trade has played in fostering peace and prosperity—particularly in East Asia, where the resulting economic growth has helped reduce poverty as well as armed conflict over the past 30 years, during which East Asia was transformed from a battlefield to a market place.
The official launching of the publication took place at a media event in Hong Kong on 14 October 2010.
Jean-Pierre Lehmann said, “The rise of China especially and the Global South generally have contributed to rapidly shifting dynamics in world trade and global economic power. As governments come to grips with these new players and realities, they will need to adapt. It will be particularly important to incorporate the ‘global south’ into any new framework to ensure the kind of stabilizing and growth-inducing effect that was seen in Europe and the North Atlantic in the latter part of the 20th century”.
Dr. Fung said, “The continuing paralysis of the Doha Round of multilateral trade talks is limiting what we as a global community can do to address many of the issues we face today. However, history illustrates the power of world trade to affect positively the growth and stability of nations. If we are to succeed, we must work to reform the WTO on an institutional level, exercise political will and leadership to achieve a multilateral trading framework that is fair and equal for all, and restore trust in the system”.
The book’s title, “Peace and Prosperity through World Trade: Achieving the 2019 Vision”, makes reference to the ICC’s founding vision when it was established in 1919, in the wake of World War I - “world peace through world trade”. It was produced in time for the 10-year run-up to the ICC’s 100th anniversary in 2019, in anticipation of the realisation of these ideals.
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ICC World Business Summit 2010, Hong Kong, 30 June, 2010
 Results of research projects supported by the
ICC Research Foundation on global trade and investment featured prominently on
the program of the ICC World Business Summit on 30 June 2010 in Hong Kong (Link
to website). The Summit addressed issues related to the transformation of
the global economy, shifts in political and economic power, the emergence of
new markets, new technologies, new actors and new business models.
In all these dimensions, the Asia-Pacific Region
is clearly an important arena where developments are occurring. All of these factors
underline the imperative of global interdependence: global challenges require
global solutions. The projects supported by the ICC Research Foundation seek to
add objective facts and analysis to considerations about how trade and
investment can contribute to world peace and prosperity. Results from the
following project were presented during the Summit.
Peterson Institute for International Economics
research report on “G20 Protection in the Wake of the Great Recession”, examining
the policies adopted by G20 countries in the midst of the economic crisis of
the past two years. Research results were presented by project leader Gary Hufbauer,
Senior Fellow at the Peterson Institute. The project focused on the potential
effects of high unemployment on government policies affecting trade.
Comparisons were drawn with past economic crises to assess the likely evolution
of both trade volumes and employment as the world economy emerges from the
crisis. The project also assessed the continuing threat of recourse to measures
representing barriers to trade in view of forecasts for continuing high levels
of unemployment, particularly in developed economies.
 Click here to download the "G-20 Protection in the
Wake of the Great Recession" research report
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ICC Research Foundation Unveils Initial Results of Research on Global Trade and Investment.
The initial results of the first three research projects supported by the ICC Research Foundation were presented and discussed, at a gathering of leaders from business, government and academia in New Delhi on 4-5 December, 2009. Project leaders from the World Trade Organization, Harvard Business School, and the IMD business school introduced and led discussions on: trade and employment, the future of market capitalism, and rethinking sustainable growth.
The two-day Forum, on the theme “Globalization and Inclusive Growth”, was organized by ICC India and the Federation of Indian Chambers of Commerce and Industry (FICCI), with participation of over 100 corporate chairmen and CEOs from Asia, the Middle East, Europe, North America, and India. |
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| Current programme |
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- Peterson Institute for International Economics – project to evaluate trade and employment policy responses of the recession which began in 2007-08:
Description:
- Focus on the countries most severely affected by the 2008 recession, namely the nations (members of the G7) which experienced the largest decline in global trade, the greatest worsening of labour markets, and the biggest deterioration of government fiscal positions.
- Describe and critically evaluate the trade and employment policy responses in major economies, with a focus on fiscal costs, targeted labour market groups, and impacts on employment.
Policies to be evaluated include: o Trade Policies: examine the effects of “Buy country X” provisions, surge in anti-dumping actions, o Employment Policies: analyze the scope and impact of employment policies used; assess whether more successful employment policies have been associated with less frequent resort to discriminatory and protectionist trade measures.
- World Trade Organization (WTO) - International Labour Organization (ILO) joint project on “Making globalization socially sustainable”.
This project is a continuation of work supported by the Foundation in 2009, which enabled the WTO and ILO research teams to organize an expert “scoping” workshop on the links between trade and employment. This new project focuses on the priority issues identified by experts at this workshop. Further details on the workshop are available in the Research section of the Foundation website.
Description:
There is a shared sense that globalization is a powerful engine that has already contributed to lifting many out of poverty and that, if properly harnessed, could further promote growth and development to the benefit of all. For many years, however, concerns have been raised regarding certain effects of globalization on jobs, wages and job insecurity. In this context, a number of observers have come to question the sustainability of globalization from a social point of view. Calls for a more inclusive globalization have become more frequent, but only a few concrete proposals have been put forward. The papers prepared by leading researchers will analyze the various channels through which globalization affects jobs and wages and examine how trade and employment policies could contribute to making globalization socially sustainable. Topics covered in the expert papers will include:
- Chapter 1: Globalization as a driver of job creation
- Chapter 2: Job destruction during the economic and financial crisis
- Chapter 3: Recovery after the crisis
- Chapter 4: Globalization and economic volatility
- Chapter 5: Globalization and perceived job insecurity
- Chapter 6: Social protection for those vulnerable to shocks
- Chapter 7: Evidence on the evolution of within country inequality
over the past century
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- Harvard Business School workshop on future of the market economy: Joseph L. Bower, Professor of business administration at the Harvard Business School, is leading a project that examines the future of market capitalism in the context of the current financial and economic crisis. The focus is on the implications for business of the regulatory, financial and political developments which are likely to emerge as governments and multilateral organizations implement measures to deal with the crisis and its aftermath. The project mobilizes intellectual contributions from numerous specialists for a workshop that convened 50 CEOs of international companies, academics and representatives of multilateral organizations at the Harvard Business School in October 2009. An initial report on the workshop discussions can be found below. Further results will be added as they become available. The workshop included the following elements:
Expert papers on key issues to guide the discussions
Case studies documenting examples of leading business practices by multinational companies which can assist others in adapting to the challenges and opportunities of the economic crisis
An economic projection of the consequences of the financial crisis will be developed and provided to participants in advance of the discussion, based on data which includes developments over the last year
Discussions by participants will converge on adoption of an “Action Agenda”, which can be the basis of recommendations to governments, multilateral organizations, and the business community
Read more about this event [more]
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New research project to develop an “Open Markets” Index A new project supported by the Foundation aims at developing an Open Markets Index, ranking countries by order of openness to international trade and investment. The new Index is being developed by economist Dr. Michael Finger, in consultation with ICC and experts from various multilateral organizations.
The intention is to update and publish the Open Markets Index periodically, to recognize the efforts of countries to keep their trade and investment markets open despite the pressures of protectionism.
The on-going crisis in the world economy has seen barriers to trade and investment rising again. Most of these barriers can be attributed to government policies and comprise measures at and behind the border. These barriers can be measured directly or indirectly. The methodology being developed for the index will be based on a score of economic indicators that can be used to compare “openness” across many countries.
The final version of the methodology and the first prototype “Open Markets Index” will be ready in early 2011.
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