QOTD -- Trade Policy
Trade policy experts bemoan the state of global multilateral policy initiatives. The list of global macro trends upending international trade policy is both familiar and long: resurgent nationalism and protectionism, the rise of the digital economy, distributional equity, COVID-19, institutional failures and paralysis at the World Trade Organization (WTO).
But as the end of 2020 starts to come into focus, it turns out that at least one Committee at the European Parliament is preparing to grapple with the conundrums created by conflicting trends. On September 2-3, the Internal Market and Consumer Protection Committee will debate this proposal:
The text highlights the fundamental contradiction between the promotion of "EU champions" that can compete in the global against Chinese and American giants on the one hand and the commitments to free trade encapsulated in the World Trade Organization mandate.
How the European Parliament debates evolve will tell us all a great deal about the political landscape in Europe as the WTO struggles to fill the vacuum at its leadership.
This insight was discovered today using the PolicyScope Platform.
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