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Full-Text Articles in International Economics

Responsible International Citizenry In The Asian Century: Why Failure To Meet International Obligations Adversely Affects Australian National Interests, Danielle Ireland-Piper Sep 2015

Responsible International Citizenry In The Asian Century: Why Failure To Meet International Obligations Adversely Affects Australian National Interests, Danielle Ireland-Piper

Danielle Ireland-Piper

If Australia is to secure its financial and security interests in the Asian century, then it must build effective working relationship in the Asia-Pacific. To do so, Australia must build familial and not merely transactional relationship in Asia. In turn, this requires Australia to present as a responsible international citizen. This image of responsible citizenry, however, is difficult to achieve when the Australian Constitution permits race-based laws and Australia’s approach to regional asylum seeker management may violate international law. This is because the hypocrisy inherent in non-compliance impedes Australia's capacity to build meaningful relationship in the Asian region ...


Implications Of The Gatt Agreement For Iowa Agriculture, John R. Kruse Aug 2015

Implications Of The Gatt Agreement For Iowa Agriculture, John R. Kruse

Iowa Ag Review

The FAPRI analysis indicates that nearly all U.S. agricultural commodities benefit under GATT, although some commodities experience larger impacts than others. CARD extended the FAPRI analysis to commodities important to Iowa, such as com, soybeans, and pork and found that all are significant winners under the Uruguay Round Agreement.


The Gatt Agreement: A Layperson's Description, John R. Kruse Aug 2015

The Gatt Agreement: A Layperson's Description, John R. Kruse

Iowa Ag Review

What is the General Agreement on Tariffs and Trade (GATT)? The GATT may be best described as an ongoing process through which trade distortions among countries are defined and targeted for reduction. There have been seven previous GATT agreements over the years. The recent GATT agreement represents the eighth round of trade negotiations and is often called the Uruguay Round in reference to Punta del Este, Uruguay, where the agenda was set in 1986.


The Eu Export Tax: Impact On U.S. Markets, William H. Meyers, Steven L. Elmore Aug 2015

The Eu Export Tax: Impact On U.S. Markets, William H. Meyers, Steven L. Elmore

Iowa Ag Review

ln response to high world grain prices, the European Union (EU) introduced wheat export taxes in November 1995 for the first time in more than a decade. Normally, the EU offers export subsidies to make up the difference between their high internal grain prices and world market prices. However, EU internal support prices have been reduced over the last three years as a result of policy reforms. Recent high world grain prices have exceeded the EU support prices since early in the 1995/96 crop year. Rather than let internal prices follow world market prices upward, the EU decided to ...


The Impact Of Eep Removal On U.S. Week, Samarendu Mohanty, Food And Agricultural Policy Research Institute Aug 2015

The Impact Of Eep Removal On U.S. Week, Samarendu Mohanty, Food And Agricultural Policy Research Institute

Iowa Ag Review

The Export Enhancement Program (EEP) was initiated under the Food Security Act of 1985. The purpose 9f the program was to offset the adverse effects on U.S. exports due to unfair trade practices or subsid'ies by competing exporters and also to support U ,S. prices. Supply restrictions, price supports, and export subsidies together have caused U.S. wheat prices to be above world prices over the past decade.


Agri Cultural Impacts Of China's Accession To The Wto, Frank H. Fuller Aug 2015

Agri Cultural Impacts Of China's Accession To The Wto, Frank H. Fuller

Iowa Ag Review

The People's Republic of China has requested- and will likely soon be granted- membership in the World Trade Organization (WTO). Given the size and importance of China's economy to the intemational market. both U.S. agricultural and nonagricultural markets will undoubtedly be a fleet ed significantly.


Eu-U.S.Beef Hormone Trade Dispute, John C. Beghin Aug 2015

Eu-U.S.Beef Hormone Trade Dispute, John C. Beghin

Iowa Ag Review

This article provides a brief historical perspective of the beef hormone dispute between the European Union (EU) and the United States and reviews the scientific evidence of health risks associated with products from animals that have been administered hormones.


Nafta: Implications For Mexican And Midwestern Agriculture, John C. Beghin Aug 2015

Nafta: Implications For Mexican And Midwestern Agriculture, John C. Beghin

Iowa Ag Review

The North American Free Trade Agreement (NAFTA) is a success story of economic integration between Mexico, the United States, and Canada. Economic integration was on its way before the Agreement, but it received a significant boost when NAFTA went into effect in 1994. Relative to the rest of the world, merchandise trade among the three countries has intensified and is growing at a rate of about 10 to 12 percent a year. With respect to agriculture, Mexico exports fruits and vegetables, coffee, live cattle, and textiles, among other things, to the United States. The United States exports grains and feed ...


Trade, Wealth Creation, And American Agriculture, Bruce A. Babcock Aug 2015

Trade, Wealth Creation, And American Agriculture, Bruce A. Babcock

Iowa Ag Review

Why do we trade? Most Americans would answer this question with some reference to the benefits of expanded markets for U.S. goods and more job opportunities. However, if asked the question, why do we work? most would respond that we work to earn money so that we can buy things. At a personal level, we intuitively know that trading our specialized labor with others (using money as the means of transactions) gives us a higher standard of living than if we tried to produce everything ourselves. We know and act on the knowledge that specialization enhances our individual wealth ...


Meat Traceability: Its Effect On Trade, Roxanne L. B. Clemens, Bruce A. Babcock Aug 2015

Meat Traceability: Its Effect On Trade, Roxanne L. B. Clemens, Bruce A. Babcock

Iowa Ag Review

Several livestock and meat-related crises have given rise to increased worldwide consumer concern over meat safety and an increased desire for information about the meat products they purchase. During the past several years, a series of food safety and animal disease crises has occurred in the European Union (EU), including dioxin contamination of livestock feed, the announcement of the possible link between Bovine Spongiform Encephalophathy (BSE) and new-variant Cruetzfeldt-Jakob disease, and outbreaks of foot-and-mouth disease and classical swine fever. Many EU consumers have lost confidence in the safety of meat products (especially beef) and in the ability of regulatory agencies ...


The Cost Of Food Self-Sufficiency And Agricultural Protection In South Korea, John C. Beghin, Jean-Christophe Bureau Aug 2015

The Cost Of Food Self-Sufficiency And Agricultural Protection In South Korea, John C. Beghin, Jean-Christophe Bureau

Iowa Ag Review

South Korea has the most supported agricultural sector among member countries of the Organization for Economic Cooperation and Development (OECD). Public intervention mainly consists of high production prices supported by government purchases, together with high tariffs that protect domestic producers from foreign competition and implicitly tax consumers. Trade liberalization recently took place in particular sectors, and Korea is now a major importer of oilseeds and coarse grains. However, Korea only reluctantly exposed its agricultural sector to the provisions of the Uruguay Round Agreement on Agriculture (URAA) of the World Trade Organization (WTO). It has kept nearly prohibitive tariffs in the ...


Supporting U.S. Agriculture Under World Trade Organization Rules, Bruce A. Babcock, Chad E. Hart Aug 2015

Supporting U.S. Agriculture Under World Trade Organization Rules, Bruce A. Babcock, Chad E. Hart

Iowa Ag Review

For the fourth straight year, market prices for Midwest crops are low. Central Iowa soybean prices hover around $4.00 per bushel. Corn prices are around $1.80 per bushel, and wheat markets remain stuck at below $3.00 per bushel. What to do about these low prices has occupied a great deal of Congress’s time as it attempts to craft new farm legislation. Nearly all farm bill proposals would continue to provide farmers levels of support much higher than those offered by the market.


The Eu-U.S. Hormone Dispute: The Negotiations Continue, Roxanne L. B. Clemens Aug 2015

The Eu-U.S. Hormone Dispute: The Negotiations Continue, Roxanne L. B. Clemens

Iowa Ag Review

The European Union’s ban on hormone-treated beef remains one of the United States’s most contentious agricultural trade disputes. Iowa Ag Review last addressed this dispute in the Summer 1999 issue, just after the World Trade Organization (WTO) arbitrator had ruled that the EU ban was inconsistent with WTO sanitary/ phytosanitary principles relating to risk assessment. This article updates negotiating activities and issues regarding the hormone ban.


Rich Countries, Poor Countries, And The Doha Round Trade Negotiations, John C. Beghin Aug 2015

Rich Countries, Poor Countries, And The Doha Round Trade Negotiations, John C. Beghin

Iowa Ag Review

A common criticism of domestic agricultural spending in the United States and European Union is that support for U.S. and EU farmers hurts the economies of low-income countries. Addressing this criticism is key to moving forward in the current Doha Round negotiations of the World Trade Organization (WTO). CARD initiated a study to better understand the link between rich-country agricultural support and poor-country incomes.


Agricultural Biotechnology And Trade: The Unresolved Issues, Giancarlo Moschini Aug 2015

Agricultural Biotechnology And Trade: The Unresolved Issues, Giancarlo Moschini

Iowa Ag Review

To observers contemplating the failure of the Cancun ministerial meeting of the World Trade Organization (WTO) in September 2003, the United States and the European Union appeared to stand on the same side of the disagreement that stalled efforts to advance the Doha Round of multilateral trade liberalization. Poor countries wanted real reduction in the widespread agricultural subsidies that depress world prices in commodities that are critical to development. The United States and the European Union, on the other hand, insisted on a more comprehensive approach to liberalization, including pushing the WTO into new areas (such as rationalization of inefficient ...


Geographical Indications, Property Rights, And Value-Added Agriculture, Bruce A. Babcock Aug 2015

Geographical Indications, Property Rights, And Value-Added Agriculture, Bruce A. Babcock

Iowa Ag Review

What do Vidalia onions, Wisconsin cheese, and Kona coffee have that feta cheese, champagne, and cognac do not? The first three products have trademark protection for their brand names (in this case, through U.S. trademark law). The latter three have no brand name protection, but that could change. Protection would become available for the latter products if E.U. proposals to increase protection for products identified as originating from a particular geographic region—so-called Geographical Indications (GIs)—are adopted. The European Union proposes to (1) establish a register of GIs that would give protection to products across international boundaries ...


China’S Challenge: Conforming To Sanitary And Phytosanitary Measures For Agricultural Exports, Fengxia Dong, Helen H. Jensen Jul 2015

China’S Challenge: Conforming To Sanitary And Phytosanitary Measures For Agricultural Exports, Fengxia Dong, Helen H. Jensen

Iowa Ag Review

After 15 years of negotiations, China became a full member of the World Trade Organization (WTO) in 2001. Since then, with eliminated or lowered tariffs, China’s bilateral trade has grown significantly. In 2002, the value of Chinese exports and imports for agricultural products reached $14.5 billion and $16.1 billion, respectively, and its total value of exports in agricultural products increased by $1.2 billion from the previous year.


How The Brazil-U.S. Cotton Dispute Could Affect Iowa’S Agriculture, Chad E. Hart Jul 2015

How The Brazil-U.S. Cotton Dispute Could Affect Iowa’S Agriculture, Chad E. Hart

Iowa Ag Review

Recently, a World Trade Organization (WTO) panel ruled on a dispute between Brazil and the United States. The dispute, filed by Brazil over cotton subsidies, accused the United States of lowering world agricultural prices and distorting agricultural trade flows through various forms of agricultural support. Preliminary findings, as reported by major news sources such as CNN, the New York Times, and the Economist magazine, indicate that the WTO panel agreed with most of Brazil’s case. The results of these findings and the ongoing WTO agricultural trade negotiations could have a dramatic impact on the ways agriculture can be supported ...


Animal Identification Is Key To Restarting Beef Exports To Japan, Roxanne L. B. Clemens Jul 2015

Animal Identification Is Key To Restarting Beef Exports To Japan, Roxanne L. B. Clemens

Iowa Ag Review

December 26, 2004, marked one year since Japan banned imports of U.S. beef following the discovery of bovine spongiform encephalopathy (BSE) in an imported animal. The loss of more than 375,000 metric tons (mt) of U.S. beef and beef variety meats created a shortfall in supply that Japan has been unable to fill. Australian exports to Japan were 41 percent higher in 2004 than in 2003, but Australia and other countries cannot supply the volume and types of beef the United States had supplied.


Rethinking Agricultural Domestic Support Under The World Trade Organization, Chad E. Hart, John C. Beghin Jul 2015

Rethinking Agricultural Domestic Support Under The World Trade Organization, Chad E. Hart, John C. Beghin

Iowa Ag Review

The World Trade Organization (WTO) negotiations under the Doha Round are slowly progressing toward an eventual new agreement on agriculture. A new framework for the agriculture agreement was approved by the WTO membership in August 2004. The changes in the guidelines for domestic support could have effects on many countries and many types of support. However, details on the specific regulations of the agreement have yet to be determined. Dramatic reforms in agriculture could take place under the framework, but the decisions made to implement the framework will determine if that potential is realized. If countries lack ambition and commitment ...


The Wto Picture After The Cotton Ruling, Chad E. Hart Jul 2015

The Wto Picture After The Cotton Ruling, Chad E. Hart

Iowa Ag Review

In early March, the World Trade Organization (WTO) released its report on the U.S. appeal in the cotton dispute with Brazil. The appellate ruling upheld much of the original ruling, including the finding that production flexibility contract (PFC) payments and direct payments are not Green Box measures. This means that these payments are to be counted against the agricultural support limit the United States agreed to under the current WTO Agreement on Agriculture. The rulings also state that the payments from the Step 2 program, marketing loan program, crop insurance, production flexibility contracts, market loss assistance, and other listed ...


Geographical Indications, The Wto, And Iowa-80 Beef, Roxanne L. B. Clemens Jul 2015

Geographical Indications, The Wto, And Iowa-80 Beef, Roxanne L. B. Clemens

Iowa Ag Review

In August 2003, the United States and Australia asked the World Trade Organization (WTO) to convene a panel to resolve an ongoing dispute concerning geographical indications (GIs). In simple terms, the United States and Australia charged that E.U. rules governing the registration of GIs discriminate against third-country GI products (national treatment) and fail to protect U.S. trademarks. Given the range of sub-issues covered in the dispute, it is perhaps not surprising that the WTO panel’s March 2005 ruling left both sides claiming victory.


Cattle Producers Need A Quality System Assessment For Japan, John D. Lawrence, Roxanne L. B. Clemens Jul 2015

Cattle Producers Need A Quality System Assessment For Japan, John D. Lawrence, Roxanne L. B. Clemens

Iowa Ag Review

When Japan reopens its borders to U.S. beef, producers of cattle from which beef will be harvested for export to that country must comply with the regulations of the Beef Export Verifi cation Program (BEV) for Japan. The primary requirement affecting cattle producers is verifi cation that their cattle are less than 21 months of age at the time of slaughter. To qualify under the BEV for Japan, producers and processors of any cattle that will provide beef for the Japanese market must participate in a Quality System Assessment (QSA) program that has been pre-approved by the USDA’s ...


Cafta’S Projected Impact On U.S. Sugar, Chad E. Hart Jul 2015

Cafta’S Projected Impact On U.S. Sugar, Chad E. Hart

Iowa Ag Review

The Central American Free Trade Agreement (CAFTA) is a trade agreement between the United States and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic. Trade representatives from these Central American countries signed CAFTA in August 2004, and the Dominican Republic joined in 2005 (it is now offi cially abbreviated CAFTA-DR). CAFTA is targeted at reducing or eliminating trade barriers among the countries for many sectors, including information technology, agriculture, construction, pharmaceuticals, automotives, medical equipment, and services.


U.S. Proposal To The Wto: Selected Results From The Fapri Analysis, Center For Agricultural And Rural Development Jul 2015

U.S. Proposal To The Wto: Selected Results From The Fapri Analysis, Center For Agricultural And Rural Development

Iowa Ag Review

No abstract provided.


Fapri Analyzes The U.S. Proposal To The Wto, John C. Beghin Jul 2015

Fapri Analyzes The U.S. Proposal To The Wto, John C. Beghin

Iowa Ag Review

I n addition to our preliminary baseline for the 2006 U.S. and World Agricultural Outlook, this year economists with the Food and Agricultural Policy Research Institute (FAPRI) also undertook an analysis of the proposal to the World Trade Organization (WTO) submitted by the Offi ce of the U.S. Trade Representative in October. The proposal was an effort to jumpstart negotiations leading up to WTO’s sixth ministerial conference in December. The Hong Kong conference brought 149 member countries together to further negotiations on agricultural trade reform and other topics


Mega-Regional Trade, Joshua Meltzer Mar 2015

Mega-Regional Trade, Joshua Meltzer

Lectures/Events (BMW)

This lecture will discuss the impact of the Trans Pacific Partnership negotiations and the Transatlantic Trade and Investment Partnership negotiations on U.S. economic competitiveness and leadership in Asia and Europe. This will lead into a discussion of large Free Trade Areas (FTA), or groups of countries that have few or no price controls in the form of tariffs or quotas between each other. FTAs allow the agreeing nations to focus on their comparative advantages and to produce the goods they are comparatively more efficient at making, thus increasing the efficiency and profitability of each country. We will explore the ...


The Cape Town Convention’S Improbable-But-Possible Progeny Part Two: Bilateral Investment Treaty-Like Enforcement Mechanism, Charles W. Mooney Jr. Jan 2015

The Cape Town Convention’S Improbable-But-Possible Progeny Part Two: Bilateral Investment Treaty-Like Enforcement Mechanism, Charles W. Mooney Jr.

Faculty Scholarship at Penn Law

This Essay is Part Two of a two-part essay series that outlines and evaluates two possible future international instruments. Each instrument draws substantial inspiration from the Cape Town Convention and its Aircraft Protocol (together, the “Convention”). The Convention governs the secured financing and leasing of large commercial aircraft, aircraft engines, and helicopters. It entered into force in 2006. It has been adopted by sixty-six Contracting States (fifty-eight of which have adopted the Aircraft Protocol), including the U.S., China, the E.U., India, Ireland, Luxembourg, Russia, and South Africa.

This Part of the Essay explores whether an investor-state dispute settlement ...