Possible Enhancement of the World Trade and Investment Systems

18 Pages Posted: 13 Jun 2015

See all articles by Lawrence J. Lau

Lawrence J. Lau

Chinese University of Hong Kong-Institute of Global Economics and Finance

Date Written: May 29, 2015

Abstract

In this paper, various new ideas for the enhancement of the world trade and investment systems are proposed. The first idea is a proposal for feasible transitional compensatory taxes which can enable the compensation of losers by the winners caused by the expansion of trade in a given country in a two-good world. These feasible transitional compensatory taxes are then generalised to apply to the expansion of international trade in a given country in general. The other new ideas include: the intensification of efforts in the harmonisation of standards, the re-definition of the rules of origin, the reciprocal exemption of individual cyber-trade, streamlined procedures for open accession to existing free trade agreements, a general bilateral investment treaty based on the principle of national treatment for both countries and a global carbon tax for all.

Suggested Citation

Lau, Lawrence J., Possible Enhancement of the World Trade and Investment Systems (May 29, 2015). IGEF Working Paper No. 32. Available at SSRN: https://ssrn.com/abstract=2617549 or http://dx.doi.org/10.2139/ssrn.2617549

Lawrence J. Lau (Contact Author)

Chinese University of Hong Kong-Institute of Global Economics and Finance ( email )

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