No images? Click here
THE INSTITUTE FOR INTERNATIONAL TRADE
A MESSAGE FROM THE DIRECTOR
Navigating trade relations with a rising China governed by an increasingly assertive CCP is a growing challenge for Western governments, as Australia has learned at great cost. The core dilemma is striking an appropriate balance between preserving fundamental values, and accessing the huge Chinese market. Recently the EU experienced this dilemma very sharply, highlighting the ‘decoupling’ conundrum. Accordingly, our first two opinions deal with these issues. Dr Naoise McDonagh argues that as the normative conflict sharpens the onus is on firms to factor these risks into their strategic calculi. Professor Andreas Freytag advocates for firms to take ultimate responsibility for what happens within their value chains, and for the EU to double-down on supporting them. These issues are increasingly resonant in EU trade policy thinking, as the bloc elevates its broader emphasis on promoting a ‘level playing field’ for its companies abroad, extending, inter alia, into the climate mitigation space. Australian companies, already bruised by Chinese government coercion, are well advised to take note.
In our third piece Lippoldt and Schultz make the case for enhanced trade secrets protections to be built into trade agreements. Focusing on the UK-Australia FTA talks, they argue this will support both parties’ desire to use the agreement to promote innovation – a crucial ingredient for the trade diversification both countries need to contemplate in light of increasingly conflictual China relations.
Please join us for two exciting online events next week. On May 5th we take stock of US trade policy priorities under the Biden Administration with Jeff Schott from the Peterson Institute for International Economics in Washington DC. And on May 6th we focus on the services domestic regulation negotiations in the WTO, with an eye on the Ministerial conference scheduled for the end of November.
Finally, it’s a special pleasure to welcome two new visiting Faculty, Catherine Grant and Dr Lauren Johnston. Both bring enormous expertise in the areas of trade politics and negotiations, as well as economic policy, particularly in a variety of developing country contexts. They will greatly enhance our knowledge networks and we look forward to working with them.
Professor Peter Draper
POLICY AND ENGAGEMENT
The EU and U.S. have a history of using trade agreements to project their value-systems on trading partners. The EU is forthright about this goal, stating: “projecting our rules and values in trade agreements helps the EU shape globalisation, especially on issues like human rights, working conditions and environmental protection”. Likewise, the United States Trade Representative Report for 2021 states that: “President Biden seeks a fair international trading system that promotes inclusive economic growth and reflects America’s universal values”. These statements are reflected in trade agreements that typically require negotiating partners to either implement, or set a timeframe for implementing, value-based requirements across economic, environmental and social domains.
By Dr Naoise McDonagh, Lecturer in Political Economy, Institute for International Trade
THE MARKET IS A POWERFUL INSTRUMENT TO COUNTER HUMAN RIGHTS VIOLATIONS IN CHINA
European Union (EU) foreign ministers have finally responded to China's documented human rights abuses by imposing sanctions on four individuals and one organization believed to be substantially involved in the oppression of Uyghurs in north-western China. Reports of the Chinese government's treatment of the Uighurs provide evidence of mass detention and human rights abuses. Although the Chinese government does not seem to see it this way, the evidence indicates clear violations of human rights and civil liberties as codified in international treaties.
By Andreas Freytag, Professor and Chair of Economic Policy, Friedrich Schiller University, Jena and Visiting Professor with IIT
AN OPPORTUNITY FOR LEADERSHIP ON TRADE SECRETS PROTECTION IN THE AUSTRALIA-UK FREE TRADE AGREEMENT
The proposed Australia-UK Free Trade Agreement aims to promote innovation as a key priority, with provisions in support of bilateral foreign direct investment, balanced protection of intellectual property rights, and co-operation in research and development (R&D). Australia and the UK have published fairly ambitious objectives in this regard. Unfortunately, a notable omission is trade secrets protection, a prime tool for promoting and protecting innovative capacity.
By Douglas C. Lippoldt, International Trade Economist & Senior Fellow, CIGI, and Mark F. Schultz, Professor & Goodyear Chair in IP Law, University of Akron School of Law
STUDY WITH US IN 2021
Don't miss your chance to register for the inaugural Adaptive Trade Leadership in a Globalised World Program!
This world-class collaboration between the Institute for International Trade, Global Trade Professionals Alliance (GTPA) and The University of Sussex (UoS) is designed to equip mid-senior business leaders with a strong foundation in the dynamics of complexity and leadership, as well as the trade knowledge and key skills required to transform their leadership effectiveness, problem solving skills, and ability to respond strategically to trade issues.
Register now to secure your place in the program commencing in May 2021!
Start your career in international trade today!
Study with leading researchers and experienced trade practitioners, and graduate with a post-graduate degree in international trade and development from one of the world's leading universities.
Our post graduate programs in international trade and development equip graduates for leading roles in areas related to economic growth and development.
Take the first steps toward your career in international trade and development today by enrolling in one of our post-graduate degrees!
EVENTS
In the first 100 days of the Biden Presidency, his administration has acted in ways that indicate a significant amount of continuity in trade policy with the previous administration. Tariffs and technology restrictions initiated by the Trump administration remain in place, as does the block on the WTO Appellate Body, while the new United States Trade Representative has highlighted a need for trade to serve workers, rather than globalized firms seeking to arbitrage labor costs. On the other hand, Biden has expressed the importance of a rules-based order and multilateralism, marking a distinct break from the unilateralist world of Trump. What then, is the likely path to be charted by Biden’s trade policy?
Join IIT for a conversation on this key topic from 9am to 10.30am on Wednesday, 5 May 2021 (ACST) with special guests Jeffrey Schott, Senior Fellow at the Peterson Institute, and Lisa McAuley, Chief Executive Officer of the Global Trade Professionals Alliance (GTPA).
The Institute for International Trades (IIT’s) Jean Monnet Network: Trade & Investment in Services Associates (TIISA) invite you to join us for an interactive webinar from 6pm on Thursday, 6 May 2021 (ACST) on the WTO Joint Initiative on Services Domestic Regulation. Co-hosted by the Australian Services Roundtable, European Services Forum and Asia Pacific Services Coalition, the webinar will feature keynote speaker Jaime Coghi Arias, Coordinator of the JSI on Services Domestic Regulation in Geneva, and bring together expert discussants from key organisations across the globe to discuss this important topic.
Copyright © 2020 The University of Adelaide.
CRICOS Provider Number 00123M
You are receiving this email because you are a current staff, student or alumni of The University of Adelaide, or you have signed up to receive information from us.
