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기타 연구자료 The Multilateral Trading System in a Globalizing World 2000.06.01

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기타 연구자료 The Multilateral Trading System in a Globalizing World #무역

2000.06.01

  • KDI
    조이제, 편
  • KDI
    김윤형, 편
  • KDI
    한진희
  • 프로필
    김기완 선임연구위원
  • KDI
    Frederic M. Scherer
  • KDI
    Edward M. Graham
  • KDI
    John Whalley
  • KDI
    Christopher Erickson
  • KDI
    Daniel J. B. Mitchell
  • KDI
    Anne O. Krueger, editor
  • KDI
    김승진
  • KDI
    이주호
  • KDI
    신광식, 편
영문요약
During the twenty-first century, the world will face the increasing forces of
globalization. While the political boundaries of the nation-state will remain in place,
economic integration across national boundaries will proceed with a quickening tempo.
Driven by continuing technological innovation in information, telecommunications, and
transportation, as well as policy liberalization, individual national economies are becoming
increasingly interdependent and globally integrated. Goods and services, technology,
capital, labor, information, and even enterprises are now moving more freely than ever
before between countries, and the world economy is becoming ever more interdependent,
While the World Trade Organization(WTO) has played an important facilitating role in
these events, it now faces both challenges and new opportunities in expediting the
process of international economic cooperation in an orderly manner.

The world trade order has been undergoing considerable change. Early GATT (General
Agreement on Tariffs and Trade) rounds focused on market access through relaxing or
abolishing border measures such as tariffs and nontariff barriers. But more recent
discussions have dealt with the establishment and application of international standards
to national economies. The topics include policy issues within the national boundaries
related to competition policy, foreign direct investment, environment, labor standards, and
anticorruption-the so-called "new trade issues." Furthermore, it appears likely that
issues such as regulatory reforms, corporate governance, and technology transfer will
also emerge as new trade issues in the near future. All of these issues-to be debated
and determined in the international framework rather than the domestic context-will no
doubt have an impact on national economies. At the same time, they entail remarkable
changes in the world economic order. It is not surprising that the New Round is
attracting a great deal of attention,

Amid these internal pressures for the expansion of the GATT/WTO mechanism,
opposition has arisen, as symbolized by demonstrations in Seattle against the WTO
Ministerial Conference, in late 1999, and subsequent protests against the World Bank
and IMF meetings in Washington, D. C. These incidents represent the increasing
suspicion and fear of globalization and "the new economy" that have important political
consequences.

The United States, despite being a vocal champion of free trade, showed little
commitment to the WTO in the face of demestic ambivalence, By sticking to its hard
line on labor issues, the United States effectively withdrew support from a potential deal
regarding the shape of negotiations during the New Round. The European Union's(EU)
stance was hardly better, partly due to remaining gaps between the United States and
the EU over agriculture. Similar rifts exist between the United States and Korea/Japan
over antidumping and between the United States and developing countries over labor
standards. Developing countries argued that they did not have the luxury to adopt
labor and environment standards appropriate to developed economies.

Another change associated with globalization is the quickening pace of democratization,
which has ushered in a growing number of nongovernmental organization (NGOs)
representing interest groups and sectors, both domestic as well as across national
boundaries. These interest groups, including consumer-and human-rights activists,
environmentalists, and labor unions, play an increasing role in international politics.
While the World Bank, for example, has had the resources to finance cooperation with
NGOs, the WTO is poorly funded. As Sylvia Ostry remarked during our conference,
WTO is like a Mercedes Benz with an empty tank; it is well made but lacks the fuel
to run on.

Despite the breakdown of the Seattle Ministerial Conference, efforts to launch the New
Round are suspended, not dead. Many WTO member countries expect to restart talks
in Geneva, and the failure to launch the New Round in the near future would be a
major setback to the multilateral trading system's pursuit of freer and fairer trade. The
multilateral trading system has overcome setbacks in the past. For example, the
Uruguay Round Launched in 1986 broke down repeatedly. The United States and the
European Union in particular must make great efforts to prevent the failure of launching
a New Round.

The underlying premise of this volume is that the opponents of free trade are partly
right. Untrammeled free trade, without regard for human rights and the environment, is
not sustainable. On the other hand, international cooperation is not likely to proceed if
harmonization of environmental, labor, and other standards is understood to imply that
the South should conform to the laws and standards of the North. A new consensus
must be found that recognizes both a broader basis for cooperation than economic
materialism and also the diversity of countries. Accordingly, this volume surveys the
history of the global trading system and then analyzes each of the new trade issues in
depth.

The book is divided into six parts: Part Ⅰ, Challenges Facing the Multilateral Trading
System; Part Ⅱ, Competition Policy; Part Ⅲ, Foreign Direct Investment; Part Ⅳ, Trade
and Environment; Part Ⅴ, Trade and Labor Standards; and Part Ⅵ, Major Findings and
Policy Implications. For each part, two papers are presented -one written by a
prominent foreign expert and the other by a Korean scholar. This allows for a dialectic
between primarily Western views and that of an Eastern small and open economy. The
main papers are followed by commentaries by leading experts in the field. The experts
present their views on the significance of the issue, the major points of contention, and
the likely results of trade negotiation on the issue, suggesting how the issue can be
settled. Part Ⅰ identifies what the challenges are and where they come from. Parts Ⅱ
-V explore trade-related frictions in a globalizing world, review the rationale for new
rounds, highlight divergence of views, and shape the concept of mutually agreed
principles for forging the links between trade and new round issues.
목차
Contents

Figures, Tables, and Boxes
Foreword
Introduction and Overview
Lee-Jay Cho and Yoon Hyung Kim

Part Ⅰ. Challenges Facing the Multilateral Trading System

1. Challenges Facing the Multilateral Trading System: An Overview 3
Anne O. Krueger
Principles Underlying the GATT and WTO 5
Increasing Protectionist Pressures and Bilateralism 7
Administered Protection 8
Bilateral Trade Negotiations 9
Preferential Trading Arrangements 10
Key Issues on Which Progress Needs To Be Made 12
Trade in Services 13
Agriculture 14
Strengthening the WTO 14
Concerns about Labor and the Environment 16
Labor Standards 17
Environmental Issues 18
Summary and Conclusions 20

2. Challlenges Facing the Multilateral Trading System:
What Are They and How Should They Be Addressed? 29
Kihwan Kim
Challenges Facing the WTO 29
Implementation 30
Financial Services 30
Telecommunications Services 31
Maritime Services 32
Built-in Agenda 32
Investment 33
Competition Policy 33
Environment 34
Labor Standards and the Social Clause 36
Corruption 36
Regionalism 37
Suggestions for Meeting the Challenges 38
Implementation 39
Unfinished Business 39
Built-in Agenda 39
Investment 39
Competition Policy 40
Environment 41
Labor Standards and the Social Clause 42
Corruption 42
Regionalism 42
COMMENTARIES
John H. Jacson 48
Sylvia Ostry 56
Bon Ho Koo 60
Jungho Yoo 62

Part Ⅱ. Competition Policy

3. International Competition Policy and Economic Development 67
Frederic M. Scherer
The Interface between Trade and Competition Policies 67
The Spread of Competition Policies 69
The Special Needs of Less Developed Countries 70
Commodity Cartels 71
Competition Policy and Industrialization 73
Cartel Activity by Firms Based in Industrialized Countries 73
Cartels and Monopoly among LDC Enterprises 76
Domestic Market Structure and Industrialization 79
Conclusion 81

4. Competition Issues as a Future Agenda of the WTO System:
A Korean Perspective 87
Kwang-Shik Shin
Introduction 87
History and Development of International Competition Policies 88
New Dimensions of Competition Policy 90
Inadequate Enforcement or Nonexistence of National
Competition Laws 91
Enforcement of National Competition Laws 91
Abuse of Global Market Power 92
Conflicts between Antidumping and Competition Rules 92
Competitive Effects of the Uruguay Round 93
Antidumping and Countervailing Duties 94
Safeguards 95
Assessment 96
Competition Policy as a New Agenda for GATT/WTO 96
Antidumping and Competition Laws 96
Nonenforcement of Competition Law and the Problem
of Closed Foreign Markets 98
Extraterritorial Enforcement 99
State Action 100
Concluding Remarks 100

COMMENTARIES
Summer J. La Croix 104
Keith Maskus 113
Il Chong Nam 118

Part Ⅲ. Foreign Direct Investment

5. Investment and Trade: The Approach of the World Trade
Organization Versus That of the Asia Pacific Economic
Cooperation 125
Edward M. Graham
Introduction 125
Trade and Investment: Do the Main Issues Embody the
Prisoner's Dilemma? 128
Some Additional Considerations and a Conclusion 133
Appendix A: An Evaluation of the APEC Nonbinding
Investment Principles 135
Appendix B: A Simple Illustration of the Prisoner's Dilemma 143

6. Is Multilateral Rule-Making on Investment an Opportunity?
A Korean Perspective 147
Seungjin Kim
Introduction 147
Issues of a Multilateral Investment Regime 149
Existing Multilateral Investment Agreements 149
Problems 151
Emergence of a New Multilateral Investment Rule 152
A Korean Perspective 153
Implications of Multilateral Investment Rule-Making for
Liberalization of FDI Policies 153
Prospects for FDI into and out of Korea 159
Implications of Multilateral Investment Rule-Making
for Korea's Economy 162
Future FDI Policies 164

COMMENTARIES
Lawrence B. Krause 170
Chung H. Lee 176
Raed Safadi 181

Part Ⅳ. Trade and Environment

7. Trade and Environment Beyond Singapore 195
John Whalley
Introduction 195
The Trade and Environment Issue, the WTO, and the
Uruguay Round 196
General Considerations 196
The WTO 198
The Uruguay Round 199
Post-Uruguay Round 201
The Environmental Agenda for GATT/WTO after Singapore 202
Broad GATT/WTO Modification 203
Article XX Reform 206
Environmental Regulation 208
Transparency 209
Subsidies and Competitiveness Issues 210
Other GATT Articles 211
Environment in a New Trade Round 212
Wider Dimensions of Trade and Environment Linkage
Post-Singapore 212
Implications of Quantification of Trade and Environment
Linkages 213
Developing Countries, Property Rights, and Trade and
Environment 216
Conclusions 218

8. A Korean Perspective of Trade and Environment Issues:
What's Ahead and What's To Be Done? 223
Chin-Hee Hahn
Introduction 223
The Issues 224
Environmental Standards and Regulations on Competitiveness
and Market Access 224
Trade Measures for Environmental Purposes 227
Harmonization of Environmental Policies 230
Eco-labeling and Life-Cycle Approach 232
The Effects of Environment-Related Policies on the Korean
Economy 236
Summary and Implications for Korea 243
COMMENTARIES
Daniel C. Esty 249
Joon-Han Kim 258
James A. Roumasset 263

Part Ⅴ. Trade and Labor Standards

9. Labor Standards and International Trade: Background and Analysis 275
Christopher Erickson and Daniel J. B. Mitchell
Abstract
History of International Labor Standards 275
The International Labor Organization 278
U. S. Attitudes toward International Labor Standards 281
International Wage Convergence 284
The Four-Tiger Example 285
China May Be Different 289
Labor Standards Versus Wages 290
Private Bargained Standards? 291
The Politics of Trade and Labor 293
Precedents for Labor Standards in Trade Agreements 294
NAFTA 295
European Union Labor Standards 296
International Trade and Wages 297
Wages and Trade Theory 297
The Policy Debate 298
The Size Factor 299
The Labor Content of U. S. Trade 300
Conclusions 306

10. Trade and Labor Standards: A Korean Perspective 317
Ju-Ho Lee
Introduction 317
Core Labor Standards in Korea 317
Freedom of Association and Collective Bargaining in Korea 318
Transition of Korean Industrial Relations 318
Inertia of Labor Institutions 320
Labor Market Performances in Korea 321
Employment Expansion and Wage Increases 321
Wage Inequality 325
Productivity and Flexibility 327
Links between Core Labor Standards and Trade 331
Core Labor Standards and International Competitiveness 331
Labor Institutions and the World Market 332
Reform of Labor Institutions and World Organizations 333
Concluding Remarks 334
COMMENTARIES
Stanley Katz 337
Charles Oman 340
Moo Ki Bai 346

Part Ⅵ. Major Findings and Policy Implications
COMMENTARIES
John H. Jackson 357
Lawrence B. Krause 361
Duck Woo Nam 363
Il SaKong 367
Sylvia Ostry 369
John Whalley 374

Contributors 376
Acronyms and Abbreviations 378
관련 자료 ( 9 )
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