The International Chamber of Commerce (ICC) was created in 1919 by business leaders who described themselves as 'merchants of peace' and whose motto was 'world peace through world trade'. Since then a number of initiatives, including the founding of the WTO in 1995, have provided the proper regulatory conditions for a dramatic increase in world trade. This has generated unprecedented growth and allowed many countries to enjoy great gains in wealth and welfare. Yet despite these gains we are still far from achieving the ICC's goal of world peace through world trade. This 2010 book provides a broad overview of the forces that shape international trade and global interdependence, showing business leaders and entrepreneurs how we can address the shortcomings of the multilateral trading system. Most importantly, it shows how we can turn international trade into one of the key global instruments to achieve peace and prosperity in the twenty-first century.
• Informative guide to the business, political and legal environment for international trade • Describes the pressing global challenges facing policy makers and business leaders • Explores the contribution demanded of responsible business leadership
List of illustrations; List of contributors; Foreword; Preface: the ICC vision; Historical overview; Editorial note; Part I. Global Systemic Transformations: Editorial introduction; 1. Trade in the new Asian hemisphere; 2. US allegiance to the multilateral trading system: from ambivalence to shared leadership; 3. Trade for development: the case of China; 4. Trade in the US-China relationship; 5. Unravelling India and strengthening external engagement for sustainable growth; 6. Japan's contribution to an open trading system; 7. Rebalancing Korean trade policy: from bilateral to multilateral free trade; 8. Vietnam: a rising Asian tiger?; 9. The European compact on trade still stands; 10. Synergies with the Russian Federation; 11. Reasons for an optimistic future view of trade and Latin America; 12. Is the Brazilian giant finally awakening?; 13. The Arab region and the GCC in tomorrow's trade; 14. Growing African trade amid global economic turmoil; Part II. Governance of Global Trade: Editorial introduction; 15. Securing the global trade regime: the demand for global governance; 16. Trade and the future of the WTO; 17. WTO reform: time to start is now; 18. 'Murky protectionism' and the WTO; 19. Preferential trade agreements: imagining a world with less discrimination; 20. The G20 after the Great Recession: rebalancing trade; 21. The missing piece: global imbalances and the exchange rate regime; 22. Trading knowledge fairly: intellectual property rules for global prosperity and environmental sustainability; 23. Trade and subsidies: undermining the trading system with public funds; 24. Trading labour: a dilemma for migration regimes; Part III. Poverty and Global Inequities: Editorial introduction; 25. Trade and poverty: an old debate rekindled; 26. Trade policy as an instrument of social justice; 27. Trade, employment and global responsibilities; 28. Misconceptions about the WTO, trade, development and aid; 29. Two hundred years after Jefferson; 30. Trade, coercive forces and national governance; 31. Gender equality in trade; 32. Trading health for comfort; 33. Unlocking entrepreneurial potential; 34. Trade and security: a vital link to sustainable development in a troubled world; Part IV. Long View on Interlocking Crises: Editorial introduction; 35. Trade and sustainable development: the ends must shape the means; 36. Trade and climate change: the linkage; 37. Destructive trade winds: trade, consumption and resource constraints; 38. Trade and energy: a new clean energy deal; 39. Agriculture and international trade; 40. Water scarcity: how trade can make a difference; 41. Water resources: a national security issue for the Middle East; 42. Trade, technology transfer and institutional catch-up; 43. A frail reed: the geopolitics of climate change; Part V. Global Business Responsibilities: Editorial introduction; 44. Responsible leadership; 45. For great leadership; 46. A lesson on trade, regulation and competition policy?; 47. International trade and business ethics; 48. Who's driving 21st century innovation? Who should?; 49. Responsible sourcing; 50. Trade, international capital flows and risk management; 51. Trade, corporate strategies and development; 52. How can trade lead to inclusive growth?; 53. Trade and human rights: friends or foes?; 54. Trade: the spirit and rule of law; Conclusion; Index.
'Compiled by The Evian Group on the occasion of the 90th anniversary of the International Chamber of Commerce, this clear and accessible book walks the reader through the complex dynamics of international trade. It reminds us that much of the global interconnection that we have achieved today was charted by the world's 'merchants of peace': traders, who brought societies ever closer together, by promoting the movement of goods, services and people across the globe. In analysing the challenges that they face in today's turbulent economic times, the book confirms the centrality of trade to peaceful international relations.' Pascal Lamy, Director General, World Trade Organization
'This excellent compilation by more than fifty authors of diverse nationalities, perspectives and generations, underlines the powerful impact that trade has had on generating peace and prosperity in the past and the role it can play for the future. In the great transformation now occurring with the rise of the global South, Peace and Prosperity Through World Trade sheds light on the way forward and the absolute imperative of maintaining a robust multilateral rules-based trading system.' Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, India
'In Korea we are acutely aware of how vital trade has been to generating our prosperity and maintaining peace. Peace and Prosperity Through World Trade is a remarkable compilation of numerous trade experts, policy makers and practitioners from all parts of the world that focus on the centrality of trade in global affairs. It should be read by leaders of the G20 and serve as a guide for ensuring that in the decade ahead we navigate successfully through the turbulent global economic waters.' SaKong Il, Chairman, Seoul G20 Summit Preparation Committee
'As a business leader from Africa, I deeply welcome the publication of Peace and Prosperity Through World Trade as it serves so well to enlighten the future by throwing light on the past. There is a clear correlation between trade, peace and prosperity. The book adopts a truly global approach to the great benefits that the world, especially the South, will obtain if we can fashion a robust, sustainable and especially equitable multilateral trading system. It should be widely read by policy makers and business executives in both North and South.' Salim Ismail, Chairman and CEO, Group Socota, Madagascar