13 | DECEMBER 2019

by Xieshu Wang and Marta Marson, University of Turin and OEET

Newsletter n. 13| December 2019 - Download PDF

This issue of Emerging Economies and the next will include some main contributions presented at the 5^th Workshop organized by OEET and AISSEC at the Department of Economics and Statistics “Cognetti de Martiis” of the University of Turin on 3^rd and 4^th of October 2019, around the topic of “Trade Wars and Global Crises: The Outlook for Emerging and Advanced Countries”.

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By Pompeo Della Posta, Department of Economics and Management, University of Pisa

In this paper I review and discuss the past and current phases of globalization, namely the first phase (1869-1914), the second phase (1944-1979) and the third phase (1979-2016) together with the crises characterizing both the period between the two world wars and the current phase of (de)-globalization, that can be considered as starting with the election of Donald Trump to the presidency of the US administration and with the occurrence of Brexit, and continuing with the spreading of neo-nationalism and populism worldwide. I also discuss and compare the two waves of criticism of globalization, namely the one started at the end of the 1990s and the current one, coinciding with a crisis of globalization.

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By Giovanni Graziani, University of Parma

Tariffs generally tend to cause an increase in the import price of products. The increase in domestic price of imports may have four direct effects.

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By Carlos Mulas-Granados, European Department of the International Monetary Fund¹

The Czech Republic exports only a small number of cars and car parts directly to the United States, but we expect it to lose significantly in a potential scenario in which the United States imposes tariffs on cars. Why is that? The key to this puzzle is the extensive supply chains that dominate the production of European cars and many other products. The explanation is simple: while direct exports of cars and car parts from the Czech Republic to the United States are small, the Czech Republic exports a significant amount of car parts to other European countries, which in turn export to the United States. Hence, in our recent paper, we analyze the possible impact of trade tensions taking fully into account these supply chain linkages.²

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By Giuliano Lengo – General Manager, Piemonte Agency for Investments, Export and Tourism

"We await the response of the arbitration on the US decision to apply duties to EU products. That decision would hurt us a lot ... "
                                Giuseppe Conte, Italian Prime Minister
Saturday, September 28^th, Bologna Villaggio Coldiretti

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