Supply Chain Barriers: What Can Be Done?
On January 23, the World Economic Forum in Davos and the World Bank released a new joint report, “Enabling Trade–Valuing Growth Opportunities”. The report, prepared in cooperation with Bain & Co., focuses on key trade barriers confronting exporters, based on a series of 18 company/sector case studies and accompanying macro analysis. The report comes to strong conclusions about where the biggest potential policy reforms gains are to be had — it argues that policymakers and trade negotiators need to take supply chain barriers to trade seriously and start thinking about new approaches to do so.
What actions does the report recommend? Is there sufficient political will to implement proposed reforms? Are there areas of identifiable resistance that could end up stalling reform efforts?
Could global GDP really grow 6 times more by removing supply chain barriers, than by removal of all import tariffs?
Bernard HOEKMAN, Director, International Trade Department, World Bank (co-author of the Enabling Trade report)
Michael FERRANTINO, Lead International Economist, US ITC
Ralph CARTER, Managing Director, Trade & Int’l Affairs, FedEx
Linda Menghetti DEMPSEY, VP, International Economic Affairs, National Association of Manufacturers.