WEA online conference: Trade Wars after Coronavirus
from Maria Alejandra Madi
The United States declared an economic war on China in early 2018. Economic warfare is a unilateral action that questions the existence of multilateralism and places the question of what regime we are about to enter after the weakening of the existing multilateral trade agencies. US trade policy opens the door for new relationships between emerging market economies and international financial institutions on issues of liberalisation but mostly it ends a period started in the 1980’s of unregulated international trade and opens a new one. The solution to the structural economic problems of the US, similar to those of Britain in the 1960’s is not tariffs and trade restrictions. The trade war is above all a war that will be won by one side at some point.
The recent outbreak of coronavirus has just added more uncertainties to the global trade war scenario
The next WEA on line conference Trade Wars after Coronavirus calls for a deep reflection to matters related that includes, among other questions:
- Will free trade be still strongly promoted through international financial institutions (IFI) policies?
- Can any multilateral agency now take retaliation against any country that goes against the spirit of existing free trade agreements?
- If the profit squeeze in the US comes at the same time as US technological leadership is at stake, how much at stake is it?
- Can China actually replace the US as the economic leader in the world? If not, what does prevent it? If so, what is required? How can the US prevent this from happening?
- Does the winner of the trade war keep the hegemony as its prize? Or, are we in a new situation of shared/partial hegemonies?
- What are the lessons learnt from the US trade war against Japan?
- What is the difference between this trade war and the Japanese one of the 1980’s?
- What are the consequences of the trade wars after coronavirus to the world economy and the future of neoliberalism?
- No more globalisation as we know it?
WEA on line Conference website
Conference Leader
Oscar Ugarteche, Instituto de Investigaciones Económicas, UNAM
Contact
Oscar Ugarteche ougarteche@gmail.com
and Maria Alejandra Madi maria.madi2014@gmail.com
Key dates
Closing date for submissions
28th June, 2020
Discussion Forum opens
5th October, 2020
Discussion Forum closes
5th December, 2020
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—— Ugarteche, Puyana and Madi ——
Gerson Lima / Maria Alejandra Madi
Edward Fullbrook and Jamie Morgan
————— Michael Hudson ————–
Maria Alejandra Madi / Jack Reardon
————- Edward Fullbrook ————-
—————— Steve Keen —————–
————— Richard Smith —————
————– Gustavo Marques————
– Victor Beker and Beniamino Moro –
————– Lars Pålsson Syll ————-
—————– Stuart Birks —————-
Edward Fullbrook and Jamie Morgan
———— Armando Ochangco ———-
Shimshon Bichler / Jonathan Nitzan
————— Mauro Gallegati ————–
————— Herman Daly —————-
————— Asad Zaman —————
—————– C. T. Kurien —————
————— Robert Locke —————-
Real-World Economics Review Blog 
Will free trade be still strongly promoted through international financial institutions (IFI) policies? NO.
Can any multilateral agency now take retaliation against any country that goes against the spirit of existing free trade agreements? NO.
If the profit squeeze in the US comes at the same time as US technological leadership is at stake, how much at stake is it? IT’S ALREADY GONE.
Can China actually replace the US as the economic leader in the world? If not, what does prevent it? If so, what is required? How can the US prevent this from happening? YES. AND THE US WON’T PUT UP MUCH OF A STRUGGLE.
Does the winner of the trade war keep the hegemony as its prize? Or, are we in a new situation of shared/partial hegemonies? MULTIPLE CENTERS OF POWER AND CONTROL. MOSTLY CULTURAL RATHER THAN JUST ECONOMIC.
What are the lessons learnt from the US trade war against Japan? THE CURRENT WAR WITH CHINA IS MORE RELEVANT.
What is the difference between this trade war and the Japanese one of the 1980’s? THE FIRST NOVEL PANDEMIC SINCE 1918.
What are the consequences of the trade wars after coronavirus to the world economy and the future of neoliberalism? NEOLIBERALISM IS DEAD. BUT DEMOCRACY, ESPECIALLY SOCIALIST DEMOCRACY HAS LESS THAT A 50% CHANCE OF REPLACING IT.
No more globalisation as we know it? EITHER A CHINA SHAPED GLOBALIZATION (MORE LIKELY) OR A EUROPEAN SHAPED GLOBALIZATION (LESS LIKELY).
Dear Ken,
Thanks for answering the questions. We would highly appreciate if you could submit a short paper for this conference.
Maria