A world divided: global vaccine trade and production
COVID-19 has reinforced traditional vaccine production patterns, but the global vaccine trade has changed considerably.
An update: Vaccination in the EU
with J. Scott Marcus
Progress has been made, but more progress is needed.
Europe’s China problem: investment screening and state aid
China’s state capitalist economy poses a challenge to EU openness to foreign investment. In response, the European Commission 17 June published a White Paper on “levelling the playing field with regard to state aid”, contemplating sensible and balanced policies to protect the integrity of the European single market from subsidised foreign acquisitions. However, against the backdrop of collapsing global capital flows and limited existing FDI from China, there is little risk of excessive exposure, indeed a deepening of bilateral investment flows would be beneficial for both economies.
EU trade in medical goods: why self-sufficiency is the wrong approach
with Sybrand Brekelmans
As countries are struggling with the COVID-19 pandemic, shortages in medical equipment led to EU export controls and war-time like procurement of respirators. While the crisis is still unfolding, there is a debate on whether the EU is too reliant on global value chains for medical goods. Looking at the world market of medical goods for the EU, we argue that self-sufficiency is the wrong approach. Global medical markets are to the benefits of the EU and stockpiling and preparation are more effective in preparing for emergencies.
COVID-19 and broken Collusion: the oil price collapse is one more warning for Russia
In the midst of the COVID-19 epidemic, the sharp collapse in the oil price has received little attention. Brent fell by 30% on 9 March, the largest fall since the 1991 Gulf War. The Russian ruble followed suit and its tumble highlights Russia’s continued dependence on resource extraction. The episode should be taken as a sign of things to come in a world where Russia’s main customers are going green.
High noon at the Appellate Body
This blog post explains the working method of the dispute settlement body, and then discusses the objections the US has raised against the Appellate Body, and the implications of its potential demise.