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International Trade and Sustainable Development Bob Milward (University of Central Lancashire, UK)

International Trade and Sustainable Development By Bob Milward (University of Central Lancashire, UK)

International Trade and Sustainable Development by Bob Milward (University of Central Lancashire, UK)


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Summary

This book analyses contemporary and historical data to show how an alternative trading regime can be truly advantageous to both the developed and underdeveloped regions of the world: a regime that is capable of increasing GDP in a sustainable manner.

International Trade and Sustainable Development Summary

International Trade and Sustainable Development: Economic, Historical and Moral Arguments for Asymmetric Global Trade by Bob Milward (University of Central Lancashire, UK)

The contemporary orthodox view of world trade has centred, generally unchallenged, on the ideas of free trade, based on the theoretical construct of comparative advantage. This book will engage in a critique of the orthodox position based on the underlying theoretical economic construct, the historical development of the now developed economies and the morally unsustainable position of the free-trade regime.

The author examines alternatives such as Most Favoured Nation and Preferential Trading Agreements before making the argument in favour of Asymmetric Trading, where the underdeveloped economies can develop behind tariff barriers and quotas, whilst the triadic nations maintain a lack of barriers to the exports of these economies. He outlines how such a trading regime would be mutually beneficial in the long term, in the sense that development through industrialisation takes place and the increase in GDP per capita would allow markets for exports to be sustainable, thus widening the market for the goods and services of the developed economies. However, the author demonstrates that free trade actually increases the development gap by maintaining the status quo in terms of the underdeveloped economies specialising in and exporting low value-added primary products and importing high value-added manufactures.

The book analyses contemporary and historical data to illustrate how an alternative trading regime can be truly advantageous to both the developed and underdeveloped regions of the world: a global trading regime that is capable of increasing GDP in a sustainable manner without transferring a surplus from the poor to the rich nations and without a long-term commitment on the part of the developed nations to altruism.

International Trade and Sustainable Development Reviews

Summing Up: Recommended. Upper-division undergraduates. Graduate students, faculty, and professionals. General readers. --CHOICE Review, R. M. Ramazani, Saint Michael's College

About Bob Milward (University of Central Lancashire, UK)

Bob Milward is a senior lecturer in economics at the University of Central Lancashire, UK.

Table of Contents

1. Introduction.

2. The Theory of Free Trade.

3. A Critique of the Theories of Free Trade.

4. Historical Arguments Against Free Trade.

5. The Moral Arguments for an Alternative Global Trading Regime.

6. The Inadequacy of Preferential Trading Agreements.

7. Contemporary Protectionism and its Effect on Underdeveloped Economies.

8. The Developmental State and Infant Industry Protection.

9. The Theory of Unequal Exchange.

10. Asymmetric Trade Explained.

11. The Global Benefits of Asymmetric Trading.

12. Conclusions

Additional information

NLS9781032085098
9781032085098
1032085096
International Trade and Sustainable Development: Economic, Historical and Moral Arguments for Asymmetric Global Trade by Bob Milward (University of Central Lancashire, UK)
New
Paperback
Taylor & Francis Ltd
2021-06-30
212
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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