The World Economy
Global Trade Policy 2009
Editor: David Greenaway
Published: June 22, 2010
Format: Paperback:, 176 pages
ISBN-10: 1405197048
ISBN-13: 978-1405197045
Publisher: Wiley-Blackwell
"Agricultural markets have been heavily protected over a long period of time and much has been written on the costs and benefits of protection" writes Vice-Chancellor of The University of Nottingham in the foreword to the insightful and provocative series of essays compiled in The World Economy: Global Trade Policy 2009. The book is the latest in the landmark series of books examining the salient world economic issues. The editor presents a multi-faceted discussion of how trade liberalization has moved toward global markets, but that agricultural policy has been a cause of intense debate at the Doha Round of international trade talks.
In an incisive special essay, contributor Johan Swinnen of the University of Leuven, presents a comprehensive historical analysis of agricultural protection policy in nineteenth and twentieth century Europe. The growth of protection, based in large part on the desire for food security and the thread of its disruption, underpins much of the European initiatives in agriculture. The essay also points to other dynamics at work in the European context, and points the way to future discussions on agricultural trade in light of the European Union, and more open trade policy in other industries. Importantly, Johan Swinnen recognizes that any trade agreements involving agricultural trade can't be made in isolation. The impact of other industries, national fears and concerns, political aspirations, and the potential for a catastrophic interruption of the continental food supply are only a few of the complex dynamics placing stress on the future of trade liberalization and protection.
David Greenaway (photo left) devotes the majority of this anthology to a series of papers from a special symposium on China and Africa. With the astonishing growth rate of China's economy over the past decades, it was inevitable that the country would have an enormous impact on global trade. With its insatiable appetite for resources, and its need for food security for its vast population, China is now a major player in global agricultural policy. Africa is a continent, wealthy in resources, that became a major trade partner for China. The relationship between China and Africa has been little discussed and studied, and this book forms an important contribution into the various aspects of that trade arrangement. The editor includes contributions from a largely African perspective on the short and long term impact of trade with the Middle Kingdom. Included are essays that cover such areas as African industrialization, agricultural production, the effects both domestically and internationally of an export based economy, and the future implications of intensive Chinese investment and resource exploitation in Africa.
For me, the power of this important essay collection is how David Greenaway presents an overview of the many conflicting interests involved in global trade liberalization and protection. From a historical perspective of agricultural policy evolution in Europe, to a boots on the ground assessment of trade effects on the African continent, the writers point to a world where deeper understanding is critical for policy success. Absent of formal international trade agreements, the various governments and private interests in Africa are developing a robust export trade with China. At the same time, China is ramping up its investment in the economies of individual African nations. From a range of countries including Angola, Senegal, Kenya, and Ethiopia, are stories of the successes and failures of African integration with the vast and growing Chinese economic juggernaut. The writers examine the present and future implications of this seldom reported trade on Africa and on the world's trade policy.
I highly recommend the must read book The World Economy: Global Trade Policy 2009 edited by David Greenaway, to anyone seeking an up to the minute report on the various aspects and complex issues surrounding global trade liberalization. The various authors describe a world from Europe to Africa to China where simple answers are not sufficient to resolving the often conflicting aspirations of the people and nations involved. The book serves as a powerful and crucial starting point for further study and deeper study into world agricultural and commodity trade.
Read the essential book The World Economy: Global Trade Policy 2009 edited by David Greenaway, and consider the complexities and conflicting aspects of formulating global trade policy. The basic concerns of food security for the domestic population must be balanced against the potential for export revenue and food processing. The global competition for resources, made acute by the entry of China into the global marketplace, has intensified the need for agreements. This conflict is seen in all of its aspects in the relationship between China and the resource rich countries of Africa. This book is an excellent starting point for discussions on the role of trade liberalization and its impact on the twin concerns of food security and export revenue.
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