Rule-Makers or Rule-Takers?: Exploring the Transatlantic Trade and Investment Partnership - Softcover

Softcover

ISBN 10: 1783487119 ISBN 13: 9781783487110

Publisher: Ri3, 2015

Synopsis

The Transatlantic Trade and Investment Partnership (TTIP) is an effort by the United States and the European Union to reposition themselves for a world of diffuse economic power and intensified global competition. It is a next-generation economic negotiation that breaks the mould of traditional trade agreements. At the heart of the ongoing talks is the question whether and in which areas the two major democratic actors in the global economy can address costly frictions generated by their deep commercial integration by aligning rules and other instruments. The aim is to reduce duplication in various ways in areas where levels of regulatory protection are equivalent as well as to foster wide-ranging regulatory cooperation and set a benchmark for high-quality global norms. In this volume, European and American experts explain the economic context of TTIP and its geopolitical implications, and then explore the challenges and consequences of US-EU negotiations across numerous sensitive areas, ranging from food safety and public procurement to economic and regulatory assessments of technical barriers to trade, automotive, chemicals, energy, services, investor-state dispute settlement mechanisms and regulatory cooperation. Their insights cut through the confusion and tremendous public controversies now swirling around TTIP, and help decision-makers understand how the United States and the European Union can remain rule-makers rather than rule-takers in a globalising world in which their relative influence is waning.

About this title

About the Author

Jacques Pelkmans is Senior Research Fellow at CEPS in Brussels and Professor at the College of Europe in Bruges. He has held professorships at the European University Institute in Florence and at Maastricht University, as well as at the European Institute of Public Administration, and has served as advisor or consultant to a range of international organisations. He specialises in European economic integration, trade policy, technical standards and the ASEAN Economic Community. Daniel S. Hamilton is Austrian Marshall Plan Foundation Professor and Executive Director at the Center for Transatlantic Relations at Johns Hopkins University.

Excerpt. © Reprinted by permission. All rights reserved.

Rule-Makers or Rule-Takers?

Exploring the Transatlantic Trade and Investment Partnership

By Daniel S. Hamilton, Jacques Pelkmans

Rowman & Littlefield International, Ltd.

Copyright © 2015 Centre for European Policy Studies and Center for Transatlantic Relation
All rights reserved.

ISBN: 978-1-78348-711-0

Contents

List of Figures, Tables & Boxes, 
List of Abbreviations, 
About the Contributors, 
Preface, 
Part I. Rules, Norms and Standards, 
1. Rule-makers or rule-takers? An introduction to TTIP Daniel S. Hamilton and Jacques Pelkmans, 
2. This time it's different: Turbo-charging regulatory cooperation Peter Chase and Jacques Pelkmans, 
3. TTIP's Hard Core: Technical barriers to trade and standards Michelle Egan and Jacques Pelkmans, 
4. Quantifying Non-Tariff Measures for TTIP Koen Berden and Joseph Francois, 
5. Transatlantic Investment Treaty Protection Lauge Poulsen, Jonathan Bonnitcha and Jason Yackee, 
6. Transatlantic Investment Treaty Protection – A response to Poulsen, Bonnitcha & Yackee Freya Baetens, 
7. TTIP and Consumer Protection Stephen Woolcock, Barbara Holzer and Petros Kusmu, 
8. TTIP's Broader Geostrategic Implications Daniel S. Hamilton and Steven Blockmans, 
Part II. Sectoral Issues, 
9. Agriculture, Food and TTIP: Possibilities and pitfalls Tim Josling and Stefan Tangermann, 
10. TTIP and Public Procurement Stephen Woolcock and Jean Heilman Grier, 
11. TTIP: The services dimension Patrick Messerlin, 
12. Telecommunications and the Internet: TTIP's digital dimension Andrea Renda and Christopher S. Yoo, 
13. Greater TTIP Ambition in Chemicals: Why and how E. Donald Elliott and Jacques Pelkmans, 
14. TTIP and Energy Paolo Natali, Christian Egenhofer and Gergely Molnar, 
15. Gains from Convergence in US and EU Auto Regulations under TTIP Caroline Freund and Sarah Oliver, 
About the CEPS-CTR Project: TTIP in the Balance, 

CHAPTER 1

Rule-makers or rule takers? An introduction to TTIP

Daniel S. Hamilton and Jacques Pelkmans

1. The transatlantic economy, now and in the future

Despite the rise of other powers, including many emerging growth markets, the United States and Europe remain the fulcrum of the world economy, each other's most important and profitable market and main source of 'onshored' jobs. The transatlantic economy generates $5.5 trillion in total commercial sales a year and employs up to 15 million workers in mutually 'onshored' jobs on both sides of the Atlantic. It is the largest and wealthiest market in the world, accounting for over 35% of world GDP in terms of purchasing power.

No other commercial artery is as integrated. Every day roughly $1.7 billion in goods and services crosses the Atlantic, representing about one-third of total global trade in goods and more than 40% of world trade in services. Ties are particularly thick in foreign direct investment, portfolio investment, banking claims, trade and affiliate sales in goods and services, mutual R&D investment, patent cooperation, technology flows and sales of knowledge-intensive services. Together the United States and Europe accounted for 70% of the outward stock and 57% of the inward stock of global foreign direct investment (FDI) in 2013. Moreover, each partner has built up the great majority of that stock in the other's economy. Mutual investment in the North Atlantic space is very large, dwarfs trade and has become essential to US and European jobs and prosperity.

But the primacy of the transatlantic economy should not be taken for grant

Edition details

• Publisher: Ri3
• Publication date: 2015
• Language: English
• ISBN 10: 1783487119
• ISBN 13: 9781783487110
• Binding: Paperback
• Number of pages: 560
• Editor: Pelkmans Jacques