What is it about?
The main focus of the article is to highlight the rise of global supply chains and the growing importance of bilateral agreements in foreign trade policy. The topic of discussion and theoretical contribution to the research program conducted introduces novelties in international affairs: the rise of global supply chains, the impact of emerging global supply chains on the political economy of trade, the motivations of countries to cooperate in trade policies, the emergence of global supply chains and the growing importance of partnership agreements in foreign trade policy. It is important to point out few multinationals are responsible for a significant share of global trade and the rise of global supply chains. .
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Why is it important?
It is important to point out few multinationals are responsible for a significant share of global trade and the rise of global supply chains. On the one hand, the companies need to support regulatory coordination between the various preferential trade agreements (PTAs) to reduce trade costs. On the other hand, they can also resist coordination - and encourage some non-tariff measures - to prevent new competitors from entering the markets.
Perspectives
This may partly illuminate the persistence of regulatory divergence and propose that the political economy of regulatory convergence, particularly under conditions of increasing global supply chains, may be more complex than is sometimes recommended.
Professor PhD DSc Zdzisław W. Puślecki
Uniwersytet im Adama Mickiewicza w Poznaniu
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This page is a summary of: On The New Trends in the Theory and Politics of International Affairs, SunText Review of Economics & Business, January 2022, SUNTEXT REVIEWS LLC,
DOI: 10.51737/2766-4775.2022.070.
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