Possible Enhancement of the World Trade and Investment Systems
18 Pages Posted: 13 Jun 2015
Date Written: May 29, 2015
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.
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