We can observe a renewed interest in the politics of world trade. Especially since the election of Donald Trump as US President, the future development of the global political economy seems unclear. The list of measures undertaken by the Trump administration that cause this uncertainty is long and include the withdrawal from or re-negotiation of regional trade agreements (TPP, NAFTA), the turning away from multilateral institutions, such as the WTO, the imposition of duties leading to “trade wars” with China and the EU, or the threat of sanctions against foreign companies after the termination of the Nuclear Deal with Iran. All these measures account for a paradigmatic change in the foreign trade policy from an approach favoring cooperation, internationalism, and open markets to a focus on national sovereignty and the protection of domestic industries.
This seminar will introduce into the politics of world trade and foreign direct investment. The first part of the seminar will provide the historical and theoretical foundations. The second part gives an overview of the institutions, rules, procedures and implications of the world trade regime (WTO, regional trade agreements, winners and losers of trade) and the regime governing foreign direct investment (International investment treaties, dispute settlement). The third part discusses the future of the liberal world order in light of the challenges identified throughout the seminar.
Studienleistung: The seminar is structured around short input presentations by the students on controversial questions within the field of the global political economy (e.g. “Does free trade reduce or create jobs?”, “Will China build a new Economic World Order?”).
Prüfungsleistung: Term paper according to the examination regulation.
- Lehrende/r: Marius Dotzauer