Free Trade Agreements and the Neo-Liberal Economic Paradigm: Economic,Ecological, and Moral Consequences

Abstract

Since signing and implementing the North American Free Trade Agreement (FTA) in the early 1990s, the United States has pursued other free trade agreements with nations in Latin America and Asia. The premise undergirding FTAs is that trade liberalization within the neo-liberal global economy produces economic growth and development among all parties, and reduces poverty in poor nations. We examine arguments of proponents of free trade and the neo-liberal economy— particularly those of Martin Wolf, author of Why Globalization Works— to test these claims. We explore alternatives that center on norms of ecological sustainability and social justice, holding these two as inseparable. The central moral question of how to achieve needed socioeconomic development in the Global South in ways that are both ecologically sustainable and socially just frames our analysis. We conclude by proposing five principles for an alternative, more sustainable and equitable economic paradigm.     

From the Ground,Up: The Looting of Vưườn Chuối within the Vietnamese and Southeast Asian Antiquities Trade

The exact nature of the illicit antiquities trade from ground to market in Southeast Asia remains poorly known outside of Thailand and Cambodia, where most research has been focused. This paper helps to address this imbalance by documenting and contextualizing looting activities at the Bronze and Iron Age site of V???n Chu?i, located within urban Hanoi. A brief excavation history is provided so as to place recent looting into archaeological context. The methods used to document the recent and on-going looting observed are then discussed, followed by the nature of the current threat to V???n Chu?i and a summation of what little is known about the Vietnamese antiquities trade in general and its relationship to regional antiquities trafficking. Finally, we discuss the current regulatory landscape in terms of constitutional, ownership, penal and international law, difficulties with enforcement and prosecution, and what course of action is needed not only to protect V???n Chu?i and similar sites in and around Hanoi, but also to continue to raise public awareness of the archaeological repercussions of the trade itself.     

China's Nuclear Energy in Light of the Disaster in Japan

An American specialist on Russian agriculture examines that country's agrarian policy, as well as the agricultural sector more generally, one year into the presidency of Dmitriy Medvedev. Focusing on the three key policy issues—state financial support, state intervention in the grain market, and international food trade policy—he assesses the extent to which current policy represents a continuation of that prevailing during the presidency of Vladimir Putin. The author discusses the appointment of a new Agriculture Minister in 2009, which may signal a different approach to the management of the sector, and concludes with an assessment of the impact of the global financial crisis. Journal of Economic Literature, Classification Numbers: F130, Q100, Q170, Q180. 2 tables, 63 references.     

Globalizing China: The Rise of Mainland Firms in the Global Economy

Two economic geographers survey the changing trends of China's outward foreign direct investment. Based on materials derived from original field work as well as published studies, they shed light on the major mechanisms through which mainland China's leading firms have successfully ventured abroad, as evidenced by proposed or realized acquisitions of significant corporate entities in the United States, Africa, Europe, and elsewhere in Asia. The authors argue for a political-economy approach to understanding "globalizing China," a complex phenomenon whereby the Chinese state is strategically and intricately enmeshed with the corporate interests of its leading business firms. Journal of Economic Literature, Classification Numbers: F23, L21, L22, M16. 3 figures, 3 tables, 128 references.     

The Global Economic Crisis and China's Foreign Trade

Two noted academic specialists on China's economic geography are joined by a research assistant to examine the impact of the current global economic crisis and recession on China's trade with the rest of the world. Relying on statistics collected by the country's customs administration through the first half of 2009, the authors identify and analyze trends in China's imports and exports (detailing countries of origin and destination) as well as balance of trade. They also develop and present an input-output model in order to gain a more precise understanding of the country's trade dependence (both before and during the crisis) than afforded by analyses based on conventional statistics, and explore some of the implications of the decline in trade on levels of domestic unemployment.     

Entrepôt for Chinese Consumer Goods in Central Asia: The Puzzle of Re-exports through Kyrgyz Bazaars

Relying on mirror foreign trade statistics and their reconciliation with official data on balance of payments, two economists demonstrate the important role of bazaars as major conduits of trade in Central Asia, and particularly of Kyrgyz bazaars for the entry of Chinese consumer goods into the region. The authors estimate that in recent years up to three quarters of the goods imported by Kyrgyzstan have been unofficially re-exported to other Central Asian countries, generating substantial income for the Kyrgyz economy. A concluding section explores the implications of the re-export trade for Kyrgyzstan (e.g., positive spillovers for domestic light industry) as well as the potential emergence of new competitors (e.g., Kazakhstan).     

Supporting trust: credit assessment and debt recovery through Trade Protection Societies in Britain and Ireland, 1776–1992

From an initial foundation in London in 1776, Trade Protection Societies grew in numbers to reach a peak of about 120 in 1910. They provided inter-business and some consumer credit assessment, debt management and recovery. From the 1850s they coordinated activities through a national association that covered Britain and Ireland. The societies were processing millions of credit assessments for thousands of members in the 1960s, reaching over 100,000 assessments per day in the 1980s. They provided a voluntary institutional base drawing on networks of mutuality, supplying information between members and societies that was judged privileged by the Courts. This offered transaction costs advantages for the high frequency, short duration activity provided, and hedged against the risks of complex Court actions. They became a large-scale mechanism to encourage honouring of commitments, thus underpinning the trust necessary across an increasingly geographically integrated economy. Their evolution demonstrates the importance of city size and regional centres, with diffusion down the city rank-size distribution. However, some smaller centres, mainly in resorts, also developed TPSs. The spatial process linked individual traders and the smallest places into a national system of credit management. By the 1920s smaller TPSs became difficult to sustain and were taken over or became branches of the larger societies; but overall membership continued to increase. True consolidation occurred after 1971 when demand exploded after the removal of credit controls, with unit costs pressed down, leading to de-mutualisation.     

上海市青浦区青龙镇遗址2010年发掘简报

青龙镇遗址位于上海市青浦区,是唐宋时期上海重要的对外贸易港口。2010年上海博物馆考古研究部首次对青龙镇遗址进行了考古调查与发掘,发现了唐宋时期的房基、瓷片堆、水井、灰坑等遗迹及大量的遗物,为今后的工作奠定了基础。     

A Study of the Sewn‐Plank Boats of Goa,India

The study of traditional boats has enhanced our knowledge of the maritime past. Traditional boats are both river‐ and sea‐worthy. They have been used in rivers for transporting cargo to inland ports from ships anchored at sea, and have often been used in naval warfare. In this paper an attempt has been made to study the sewn‐plank boats of Goa, their building techniques and other features in order to understand their quality and how they were used in the past for an inland river‐transport system. © 2011 The Authors