Populism and Trade 1st edition by Kent Jones 0190086378 9780190086374

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ISBN-10 :  0190086378 

ISBN-13 :  97801900863740190086378 

Author : Kent Jones 

Around the world, populism has weaponized anxieties over globalization and other forms of cultural, social, and economic change. Many populist leaders have succeeded in conflating trade concerns with apprehensions over immigration, thereby creating potent campaigns to overturn existing trade agreements and the multilateral cooperation they embody. In the United States, avowed protectionist Donald Trump set out not only to raise tariffs, but to dismantle the system of global trade embodied in the World Trade Organization. In the UK, the Brexit referendum resulted in that country’s withdrawal from the European Union, ending its commitment to trade integration with the continent. Populism and Trade explores the impact of populist regimes on protectionism and the damage they have inflicted on global trade and trade policy institutions. Focusing on the disruption caused by the Trump administration and the Brexit referendum, the book traces the influence of populism on trade policy today. Kent Jones shows how these methods will continue to damage global cooperation–something that is essential when faced with international crises like a deadly pandemic–until the sources of populist anger can be addressed. He argues that economic and institutional reforms, along with better education and adjustment policies, will be necessary to break the populist fever.In an age of global populism, open trade policy has become a victim of anti-globalization and economic nationalism. Populism and Trade traces the impact of these divisive political tactics to explain the fragile nature of global trade institutions and the steps needed to save them.

Populism and Trade 1st Table of contents:

1. Trade and the Roots of Disaffection
The Essential Elements of Populism
Populism in Global and Historical Perspective
Organization of the Chapters
2. Trade as a Source of Populist Conflict
Attitudes Toward Trade: Behavioral Elements
Anthropological Origins
Politics and the Trade-versus-Protectionism Balance
The Politics of Populism
Sovereignty
Populism, Trade, and the Election Process
Behavioral Economic Models
Ideological Varieties of Populism
Populism and the Ideological Link to Trade
Summary
3. Emotional Flashpoints of Populism and Trade
Conceptual Flashpoints as Emotional Triggers
National Sovereignty
Deindustrialization and the Trade Deficit
Tariffs and Trade Bargaining as Weapons
Institutional Flashpoints as Objects of Derision
The WTO and Postwar Institutions of Global Trade
Regional Trade Integration Agreements
The European Commission as a Lightning Rod
Countries and Groups as Scapegoats
China and Mexico
Immigrants
International Terrorists
Summary
4. Populism, Trade, and Trump’s Path to Victory
US Populism in Historical Perspective
Jacksonian Populism
Know Nothings and Anti-Immigrant Sentiment
Agrarian Populism and William Jennings Bryan
The Great Depression and Franklin D. Roosevelt’s Response
Postwar Trade, the Globalization Crisis, and Renewed Populism
Growing Populist Anxieties
Trump’s Presidential Campaign
Changing Party Politics
Trump’s Anti-Trade Platform
Summary
5. Trump’s Assault on the Global Trading System
The First Assault: Trade Law Tariffs and Voluntary Export Restraints
Traditional Protection and Signs of Unilateralism
National Security Tariffs: Newly Interpreted as a Protectionist Tool
Voluntary Export Restraint: Anti-Competitive Quotas
The US-China Trade War
Section 301: Unlimited US Retaliation
The Phase One Agreement: Further Damage to the Trading System
Shutting Down the WTO Appellate Body
The Dispute Over WTO Dispute Settlement
Reactions to the US Appointments Veto and Possible Solutions
Unilateralism, Discrimination, and a New Type of Trade Relations
The Proposed Reciprocal Trade Act
NAFTA and the Limits of Populist Leverage
Tariffs Threats as a Political Bargaining Chip
Summary
6. Brexit and the Crisis of European Integration
Introduction: The Roots of European Populism
Many Cultures and National Traditions in a Crowded Geography
The Historical Context of Conflict Between the Elite and the People
Evolution of the European Union
Brexit
Trade as Collateral Damage from the Crisis
Prelude to the Referendum
The Brexit Vote
Early Aftermath and Estimated Economic Cost
Northern Ireland and Scotland
Taking Stock of Brexit’s Populist Impact
Populism and Trade in the Rest of the European Union
The Role of the Eurozone and Immigration Crises
The Lack of Trust in EU Institutions and Trade Policy
Prospects for Euro-Populist Protectionism
Summary
7. Populism and Trade Around the World
Populism and Trade Openness: An Empirical Study
The Data
Results of the Regressions
Assessing the Regression Results
Populist Regimes in Power
Latin America
The Middle East and Asia
Russia and Belarus
The European Union, Serbia, and Turkey
South Africa
Summary
Trade Freedom and Populism: Methodology
8. Assessing the Cost of Populism to Global Trade
Basic Economic Costs of Protection: Trump’s Tariff Policies
Welfare and Efficiency Costs
Reduced Product Variety, Rent-Seeking, and X-Inefficiency
Tallying the Welfare Cost of the Trump Tariffs
Globalizing the Tariff Cost to Foreign Consumers and Businesses
The Extended Web of Protectionist Impacts
Discrimination
Impact on International Supply Chains
Foreign Direct Investment and Immigration
Regional Trade Negotiations and the New USMCA
Brexit
The Cost of Institutional Erosion
The System’s Vulnerability
Currency Manipulation
The Cost of Eroding Domestic Institutions
The Wages of Trade War
Summary
9. The Future Belongs to Globalized Societies
Main Conclusions of the Book
The Populist Challenge
Trump’s Populist Manifesto
A Response to Unilateral Protectionism
Addressing the Roots of Populism Begins at Home
Rebuilding the Global Trading System
WTO Norms, Domestic Trade Law, and Unilateralism
Prospects for WTO Renewal
Final Thoughts

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