Trump, Trade, and the End of Globalization
Provides a roadmap for mature industrialized countries to contribute to and benefit from global trade on new terms.

Global trade is heading toward chaos. Globalization has in part been a zero-sum game over the last 20 years, as China's middle and upper classes have grown sharply while Western economies have stagnated. Wealthy countries, most notably the United States and the United Kingdom, are now on the brink of abandoning free trade as it includes both the principles and the theories behind it because their economies cannot compete with those of China and some developing countries. Prevailing protectionist attitudes and policies are based on short-term thinking and will disappoint future generations.

According to author David S. Jacoby, a "new multilateralism" can provide a way out of this impending disaster by preserving innovation and growth while also curbing the impact of countries that manipulate currency, disparage the environment, and violate human rights. Jacoby clearly explains how industrialized nations can compete on a basis of differentiated technology and innovation while letting developing countries compete on a basis of manufacturing, components, and materials and makes a strong case for why the West should recommit to global trade.

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Trump, Trade, and the End of Globalization
Provides a roadmap for mature industrialized countries to contribute to and benefit from global trade on new terms.

Global trade is heading toward chaos. Globalization has in part been a zero-sum game over the last 20 years, as China's middle and upper classes have grown sharply while Western economies have stagnated. Wealthy countries, most notably the United States and the United Kingdom, are now on the brink of abandoning free trade as it includes both the principles and the theories behind it because their economies cannot compete with those of China and some developing countries. Prevailing protectionist attitudes and policies are based on short-term thinking and will disappoint future generations.

According to author David S. Jacoby, a "new multilateralism" can provide a way out of this impending disaster by preserving innovation and growth while also curbing the impact of countries that manipulate currency, disparage the environment, and violate human rights. Jacoby clearly explains how industrialized nations can compete on a basis of differentiated technology and innovation while letting developing countries compete on a basis of manufacturing, components, and materials and makes a strong case for why the West should recommit to global trade.

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Trump, Trade, and the End of Globalization

Trump, Trade, and the End of Globalization

by David Steven Jacoby
Trump, Trade, and the End of Globalization

Trump, Trade, and the End of Globalization

by David Steven Jacoby

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Overview

Provides a roadmap for mature industrialized countries to contribute to and benefit from global trade on new terms.

Global trade is heading toward chaos. Globalization has in part been a zero-sum game over the last 20 years, as China's middle and upper classes have grown sharply while Western economies have stagnated. Wealthy countries, most notably the United States and the United Kingdom, are now on the brink of abandoning free trade as it includes both the principles and the theories behind it because their economies cannot compete with those of China and some developing countries. Prevailing protectionist attitudes and policies are based on short-term thinking and will disappoint future generations.

According to author David S. Jacoby, a "new multilateralism" can provide a way out of this impending disaster by preserving innovation and growth while also curbing the impact of countries that manipulate currency, disparage the environment, and violate human rights. Jacoby clearly explains how industrialized nations can compete on a basis of differentiated technology and innovation while letting developing countries compete on a basis of manufacturing, components, and materials and makes a strong case for why the West should recommit to global trade.


Product Details

ISBN-13: 9781440861307
Publisher: Bloomsbury Academic
Publication date: 06/15/2018
Edition description: New Edition
Pages: 216
Product dimensions: 6.14(w) x 9.21(h) x 0.56(d)

About the Author

David Steven Jacoby, president of Boston Strategies International, is an economist, consultant, and trade policy adviser.

Table of Contents

Preface vii

Acknowledgments xi

Introduction: Trump, Nationalism, and a Future in the Balance xiii

Chapter 1 Trade Past and Present (A Quick Primer) 1

Chapter 2 Why the United States Is No Longer Competitive in International Trade 19

Chapter 3 Broader Problems with Trade-What's behind Antiglobalism 45

Chapter 4 Is the World Trade Order Broken? 59

Chapter 5 Can Welfare States Survive in the Global Economy? 67

Chapter 6 Potential Trade Scenarios

Chapter 7 The Huge (But Hard to Quantify) Social Benefits of Trade 109

Chapter 8 How Mature Industrial Nations Should Forge the Neo-multilateralism 123

Conclusion: A Vision for Sustainable Global Growth through Trade 145

Appendix: Additional Common Markets and Political and Economic Associations 151

Notes 159

Glossary 181

Index 183

What People are Saying About This

Dr. Oliver Massmann

"David Jacoby's experience in international business and his insights into the politics and social realities of trade make this book credible and interesting. His assessment of the future role of multilateral trade institutions and regional trade agreements makes sense, and with proper negotiation and implementation, the 'new multilateralism' that he outlines can create sustained and balanced economic growth."

Dr. Mauro F. Guillen

"Globalization is the most contested topic of our time. Jacoby tees up the right questions, and his analysis and conclusions about trade and globalization are insightful, important, and timely."

Mike Silva

"Jacoby's analysis of the differing East and West trade experiences rings true based on my 21 years in China. This book offers an intelligent discussion of a new approach to global trade."

Christophe Poittevin

"David S. Jacoby's impeccable credentials as a consultant and business leader distinguish this book. The integration of cross-cutting themes and integrative analysis of political, economic, and social development trends make it uniquely insightful and valuable."

Dan Hodge

"This book skillfully ties together today's headline economic and trade issues with complex political and social challenges. Jacoby's analysis of today's globalization puzzles leads to a clearly presented vision for a prosperous new trade paradigm that can drive sustained global growth. [He] demonstrates convincingly how investments in infrastructure, education, and technology, combined with cost-effective health care and public policies, can benefit knowledge-based economies in a global setting."

Scott Livermore

"The scenarios, which are interesting and present some polar positions of where the world could go, emphasize important policy decisions which could have major consequences for the U.S.'s place in the world and its economic prospects."

Ibrahim Al Mubayadh

"To Trump or not to Trump…that is the question, and David S. Jacoby tackles the issues with his usual trademark mastery of defining and analyzing complex problems. Another fascinating read from the master!"

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