The scope of the paper is limited to several aspects of Britain’s economic relationship with the European Union after the departure from this bloc. Apart from general matters like the EU budget and the EU legislation, special attention is paid to economic and regulatory conditions of the EU single market as these aspects have been sensitive throughout the history of the European integration resulting in shaping some of the presented models, based on national economy priorities of the EU partners including those from the EFTA.
Taking into account crucial drawbacks of the Draft Withdrawal Agreement published on 14 November 2018, and the author’s view that it is unlikely to succeed, at least in the current wording, the paper provides solutions for the UK’s post-Brexit trade policy should it leave the EU with no deal.
This article offers an overview of the first years of case law of the Court of the Eurasian Economic Union, which started its work on 1 January 2015. Both procedural and substantive issues are covered, ranging from the pre-litigation procedure and the presentation of new pleas in law during court proceedings to the mutual recognition of customs authorities’ decisions in the Union and the deferral of the decision to impose anti-dumping measures beyond the maximum duration of an anti-dumping investigation.
The paper elaborates on particular challenges and opportunities for the UK, following its experiments with economic integration and disintegration models, including the decision to withdraw from the EU and design its post-Brexit trade policy along with an alternative to membership. In the circumstances, this paper provides analyses on the nature of forthcoming negotiations, the list of issues appearing to be the most sensitive for the UK’s prospective foreign trading relations, based on its current participation in the European single market, as well as agreements Britain would need to strike or renegotiate if it leaves the EU customs union.
The article analyses the influence of productivity shocks on wages and trade in components for the German economy. Accordingly, historical aspects of the country’s participation in the production fragmentation processes are examined. Furthermore, we determine factors maintaining the efficiency of national companies’ insertion into global value chains. Then, we estimate a structural vector autoregression model with long-run restrictions. As a result, we plot impulse response functions for wages and trade in components. It was found that a one-unit increase in productivity leads to the change in the equilibrium positioning of a country in global value chains. More specifically, it shifts the production specialization pattern and brings the wages up to the new steady state level. Besides, we show that changes in productivity are causally prior to changes in wages and trade in components. Hence, it is recommended to develop mechanisms of intellectual property rights protection which are among major factors driving the process of advanced technologies attraction from foreign companies.
The major aim of the article is to reveal the modern trends in the changes of the role of services in Chinese economy. So as to attain the goal, the authors consider characteristics of the country’s tertiary sector and its involvement in both international trade in services and global value chains. The commercial services’ exports structure, revealed comparative advantage, trade restrictiveness index are analyzed in order to highlight common and peculiar features of the sphere of services in Russia and China. The comparison of the two countries’ key indices of trade in services indicates the existing trends of broadening collaboration between the economies. What is more, the authors review horizontal measures of Chinese trade policy and regulations in particular spheres and consider commitments within the free trade agreements in services and investment.
The factors and reasons that prevented the USSR from becoming a GATT contracting party are analyzed, as well as consequences of refusal by the USSR of membership in the system of multilateral regulation. The issues of ensuring Russia's effective participation in the WTO are considered. Special attention is focused on the role of the WTO in the current situation, as well as on alternative scenarios of development of the system of international trade regulation in the context of attempts to form mega-regional trade agreements.
This article is devoted to the analysis of Russian experience in terms of application of the non-tariff measures towards Russian trade partners and Russian exporters in the period from the beginning of Russian food (product) embargo. It also analyses the impact of Russian non-tariff measures on Russian economy