21st Century Regionalism: Filling the Gap between 21st Century Trade and 20th Century Trade Rules

38 Pages Posted: 22 Jun 2011

See all articles by Richard E. Baldwin

Richard E. Baldwin

University of Geneva - Graduate Institute of International Studies (HEI); Centre for Economic Policy Research (CEPR); National Bureau of Economic Research (NBER)

Date Written: April 2011

Abstract

This paper weaves several sets of facts into an argument that: 1) today’s trade is radically more complex, involving a “trade-investment-service nexus”, 2) this 21st century trade demanded deeper disciplines which were supplied by “21st century regionalism” while the WTO was otherwise occupied, and 3) 21st century regionalism has quite different implications for the world trading system than the traditional thinking suggests. The paper also argues that the traditional thinking (building-stumbling-block and Vinerian economics) is not up to the job of analyzing 21st century regionalism. An alternative framework is not provided, but elements a new approach should encompass are discussed.

Keywords: regionalism, multilateralism, WTO

JEL Classification: F13, F15

Suggested Citation

Baldwin, Richard E., 21st Century Regionalism: Filling the Gap between 21st Century Trade and 20th Century Trade Rules (April 2011). Available at SSRN: https://ssrn.com/abstract=1869845 or http://dx.doi.org/10.2139/ssrn.1869845

Richard E. Baldwin (Contact Author)

University of Geneva - Graduate Institute of International Studies (HEI) ( email )

PO Box 136
Geneva, CH-1211
Switzerland
+41 22 908 5933 (Phone)
+41 22 733 3049 (Fax)

HOME PAGE: http://www.hei.unige.ch/~baldwin/

Centre for Economic Policy Research (CEPR)

London
United Kingdom

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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