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THE INSTITUTE FOR INTERNATIONAL TRADE
A MESSAGE FROM THE DIRECTOR
COVID-9 continues to dominate the agenda. In Australia the Commonwealth Parliament recently initiated an Inquiry into its implications for Australia’s foreign affairs, defence and trade, to which the IIT provided a submission – details are below. To say the issues are complex would be trite. One set concerns the management and governance of supply chains, or building ‘resilience’. Dr Naoise McDonagh and our newly appointed Visiting Professor, Andreas Freytag, provide two cautionaries concerning, respectively, potential dangers of pushing ‘onshoring’ too far, and business’s role in promoting human rights via their supply chains – a topic of considerable debate in Germany owing to mooted legislation on this. We’re building on this work in a project led by the Global Trade Professional’s Alliance, with focus on supply chain resilience in APEC. And we will shortly hold a webinar on what supply chain resilience means for and in ASEAN, as well as Australia, covering both policy agendas and practical business implications. Sign up is available below.
We also provide details on 3 of our programmes, covering trade in services specifically, and our flagship Master of International Trade and Development. Sign up if you want to build in-depth knowledge of the increasingly challenging and complex world of global trade.
Professor Peter Draper
The COVID-19 pandemic has shown how closely an inter-connected world links domestic outcomes with international events. Over the medium and long-term the pandemic will affect every aspect of Australia’s global relationships. The quality and security of Australia’s supply chains is of critical importance to the nation’s physical and economic health. Part of the responsibility of the Department of Foreign Affairs and Trade (DFAT) is to negotiate trade agreements that link multiple economies and ‘help Australian businesses reduce transaction costs and better access global supply chains’ , which in turn stimulates investment and supports one in five Australian jobs. Given that many of the implications of the pandemic are not yet known, and many decisions are still to be made, the Joint Standing Committee on Foreign Affairs, Defence and Trade has undertaken to conduct an inquiry under the terms of reference below to better inform Australia’s position. Simon Lacey, Dr Naoise McDonagh, Mike Humphrey and Professor Peter Draper prepared a detailed submission in response to the call for submissions, the content of which is summarised in our latest policy brief From Recovery to Continued Prosperity: What Lessons from COVID-19?
SURE, LET'S BRING PRODUCTION ONSHORE?
The pandemic has changed the way we think about supply chains, in particular the chains that feed our need for food, medical supplies, and defence equipment.
Since the outbreak of the corona virus there has been a lot of discussion about supply chains and Australia's perceived dependence on international trade partners.
Dr Naoise McDonagh, Lecturer in Political Economy, addressed key aspects of this emerging debate in an article published in The Conversation on 9 July 2020 'Sure, let’s bring production onshore, but it might not ensure supplies' and in a subsequent radio interview with 2NM Breakfast (AM 981) which focussed on Australia's perceived dependence on China as a trade partner.
THE “GERMAN” DEBATE ON SUPPLY CHAIN ETHICS: ASSESSING THE ROLE FOR BUSINESSES IN HUMAN RIGHTS ENFORCEMENT
Proposed new German supply chain laws requiring due diligence by firms to prevent human rights violations has recently sparked controversy over the degree of responsibility firms can realistically be expected to bear, and how they may enforce this obligation.
This “German” debate has relevance beyond the country’s borders, as it speaks to a wider debate concerning multinational corporations and corporate social responsibility in globalized supply chains.
By Andreas Freytag and Dr Naoise McDonagh
POLICY AND ENGAGEMENT
Unprecedented global challenges and deepening divisions threaten global prosperity. In an increasingly fractured world, collaboration is the only way we can emerge stronger. The Bloomberg New Economy Forum enables global leaders from East and West to come together to forge common ground, establish deep personal connections, and chart the course toward a new economy with a sustainable, inclusive future.
As part of the Bloomberg New Economy Forum's efforts to unlock inclusive trade, IIT is partnering with the Global Trade Professional's Alliance (GTPA) and North Carolina State University to deliver an exciting project which aims to increase our understanding of the challenges faced by businesses working across Global Value Chains (GVCs). The study will provide key insights into the levels of business disruption, resilience, and the adaptability of GVCs across the globe, as well as identifying best practice in promoting resilience and integrity in GVC.
IIT Welcomes Visiting Professor Andreas Freytag of Friedrich Schiller University Jena, Germany
Professor Dr Andreas Freytag, Chair of Economic Policy and Director of the Schumpeter Center at Friedrich Schiller University Jena in Germany, was appointed Visiting Professor at the end of June 2020.
Professor Freytag's appointment marks an important milestone in our plans to deepen cooperation between our two universities, which have recently entered into a memorandum of understanding. As part this planned cooperation, we intend to establish a research network on trade policy, as well as collaborating on research and in the training of our doctoral candidates.
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Take the first steps toward your career in international trade today by enrolling in one of our post-graduate degrees!
EVENTS
In the wake of COVID 19, supply chain resilience has emerged as a key theme for trade policy discussions. While this applies particularly to health-related supply chains, prior to the pandemic’s outbreak the trade wars had provoked regional discussions on this issue. But what does supply chain resilience mean? What does it mean in an ASEAN context? And how should Australia interact with emerging regional agendas related to this issue?
Join us for an interactive webinar on these issues from 4.00pm on Thursday, 13 August 2020 (ACST).
The Institute for International Trade and the Global Trade Professionals Alliance and the Supply Chain Resource Cooperative have expanded the Business Health Check Series to include new and relevant topics.
CALLS FOR APPLICATIONS
TIISA Research Grants
The EU Jean Monnet Network: Trade & Investment in Services Associates (TIISA) has awarded AUD$35,000 of research grants to 6 successful applicants including 2 from IIT, Professor Jane Drake-Brockman and Harry Wardana, PhD student. Other successful applicants are Professor Hein Roelfsema, (Utrecht University), Radka Sabolova and Aili Tang (Orebro University) and Yi Zhang (Xian Jioatong University).
A further call for research grant applications is underway with a submission deadline of 14 September 2020.
TIISA Young Scholars Award
The EU Jean Monnet Network: Trade & Investment in Services Associates (TIISA) is offering a Paper Award for PhD and PhD-equivalent Students, Young Professionals and Early Career Researchers. The policy research paper can be on any topic related to international trade and investment in services, with some relevance for, or application to, the process of economic integration in services, including in the European Union.
Applications are open until Monday, 31 August 2020.
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