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43 results

Page 1 of 3

  • Introduction to the Special Issue on Package Treaties

  • Charlotte Sieber-Gasser, Noémie Laurens
  • Journal:
    World Trade Review / Volume 23 / Issue 5 / December 2024
    Published online by Cambridge University Press:
    13 January 2025, pp. 551-553
    Print publication:
    December 2024
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  • Globalization generates benefits for nations around the world, but it also creates winners and losers within nations. As former WTO Director-General Pascal Lamy puts it: ‘Globalization works because it is painful, and it is painful because it works’.1 This is why international economic integration inevitably creates a collective action problem; opposition by losers may thwart policies that would benefit nations overall.

  • Addressing Negative Effects of Trade Liberalization: Unilateral and Mutually Agreed Flanking Policies

  • Joost Pauwelyn, Charlotte Sieber-Gasser
  • Journal:
    World Trade Review / Volume 23 / Issue 5 / December 2024
    Published online by Cambridge University Press:
    13 January 2025, pp. 554-572
    Print publication:
    December 2024
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  • The conventional approach to trade liberalization has been to liberalize trade through international agreement and address subsequent domestic fallout and spillovers through domestic policies. In consequence, international obligations in trade liberalization are not legally connected with ‘flanking’ measures to address their negative effects. We discuss the shortcomings of this conventional approach with respect to labor adjustment and environmental protection: for political reasons, trade liberalization requires today the simultaneous regulation of labor and environmental spillovers. We suggest a novel approach to trade liberalization that includes the necessary flanking policies as part of, or linked to, the international agreement itself. This novel approach seeks to achieve the best of both worlds: reaping the benefits of international trade while making sure that negative spillovers are effectively addressed. To illustrate the intricacies of this approach, we introduce a new conceptual framework covering the negative effects of trade liberalization and flanking or mitigating policies, and a proposed novel approach in the form of trade liberalization packages and package treaties. Trade liberalization packages and package treaties are currently emerging around the world (e.g. sustainable palm oil in EFTA–Indonesia) and deserve our close attention.

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