Abstract
International trade practitioner Vinicius Neves dos Santos responds to the arguments for a more open and structured global trade by showing protectionism and isolationism are back amid increased competition for jobs and for the best links of the global value chains. UNCTAD and increasingly the WTO are becoming mere think-tanks in global trade rather than organisations capable of setting rules and bringing order to the International Trading System.
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Notes
- 1.
Plurilateral agreements are those without a formal negotiation mandate granted by consensus of all the WTO members. This means the accession to the agreement is voluntary and usually only “like-minded” countries participate on the discussions and eventually abide to the rules or norms arising from the negotiations.
- 2.
“Middle Class Trap” is a term used to describe the difficult DCs have in surpassing the middle-income status and joining the group of developed countries, with income per capita of around US$30 thousand.
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Neves dos Santos, V. (2021). Global Trade: The Return of Protectionism and Isolationism. In: Wilcock, N., Federzoni dos Santos, E. (eds) Not Paying the Rent. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-78861-2_10
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DOI: https://doi.org/10.1007/978-3-030-78861-2_10
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Publisher Name: Palgrave Macmillan, Cham
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