The Trade Weapon: How Weaponizing Trade Threatens Growth, Public Health and the Climate Transition

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Ken Heydon

The Trade Weapon

How Weaponizing Trade Threatens Growth, Public Health and the Climate Transition

Ken Heydon

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English

Polity Press
04 March 2024

Economics

Prompted by geostrategic rivalry and the war in Ukraine, COVID-19 and the climate transition, trade policy is increasingly being weaponized. This trend towards protectionist capture and retaliation is self-sabotaging and bad for growth. But there is another way.

In this hard-hitting book, Ken Heydon offers alternatives to the trade weapon: the need for diplomatic carrots to accompany the sanctions stick; for resilience in supply chains rather than self-sufficiency through ill-advised reshoring and friend-shoring; for multilateral WTO remedies to rule breaking rather than unilateral penalties in the name of national sovereignty; and for direct action on environment and public health goals rather than the blunt tool of trade restriction.

But, to restrain the damaging subordination of trade policy to other ends, governments must address the discontents of trade and do better at helping losers, adjusting to technological change and making the case for open markets. At stake are three decades of income gains from globalization and the ability to deal effectively with the climate transition and the next pandemic.

By: Ken Heydon
Imprint: Polity Press
Country of Publication: United Kingdom
Dimensions: Height: 211mm, Width: 137mm, Spine: 18mm
Weight: 295g
ISBN: 9781509557561
ISBN 10: 1509557563
Pages: 224
Publication Date: 04 March 2024
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

List of Abbreviations List of Tables, Figure and Boxes Acknowledgements Preface Introduction: Free Trade: Winners and Losers 1. Sanctioning Aggression 2. Arming the Global Value Chain 3. Trade Self-Defence 4. Battling for the Greater Good 5. Arms Control: Restraining the Use of the Trade Weapon References Notes

Ken Heydon is a former Australian government trade official, senior member of the OECD Secretariat, and Visiting Fellow at the London School of Economics.

Reviews for The Trade Weapon: How Weaponizing Trade Threatens Growth, Public Health and the Climate Transition

"""Will we reclaim the benefits of liberal trade or surrender to the tidal pull of nationalism? In this timely book, Ken Heydon rejects the false premise of economic rivalry and presents in stark detail the mounting costs of deploying the trade weapon."" Marc Froese, Burman University ""The Trade Weapon forcefully argues against the increasing use of trade policy as a tool of first choice. This accessible and topical book will be important reading for policy makers, businesses and anyone interested in the future of trade."" Peter A.G. van Bergeijk, Erasmus University"