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«Battle for Globalisations? BRICS and US Mega-Regional Trade Agreements in a Changing World Order MARKO JUUTINEN AND JYRKI KÄKÖNEN © 2016 Observer ...»

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161. However, one should be not for this reason argue that the all states have equal power in the WTO. According to various researchers (e.g. Barton, John, Goldstein, Judith, Josling, Timothy (2010), Evolution of the Trade Regime: Politics, Law and the Economics of the GATT and the WTO, Princeton: Princeton University Press, pp., 51, 56, 63)WTO is in effect very much influenced if not dominated by the biggest countries EU and US – although, as the paper also notes, Doha Round showed that this situation does not apply all the time and everywhere and does mean that the West can impose their will on others if conflict of interests are broad.

162. E.g., Hoekman and Kostecki, 2001: 303–4; Bhagwati et al., 2015: 23–4.

163. USTR, 2013.

164. USTR, 2011; 2013; Lamy, 2015: 67–8.

165. Woolcock 2005; Sharma 2004; Bouzas & Zelicovich 2014; Bhagwati el al. 2015.

166. Kristen Hopewell (2015) Different paths to power: The rise of Brazil, India and China at the World Trade Organization, Review of International Political Economy, 22:2, 311-338, DOI: 10.1080/09692290.2014.927387; Bouzas & Zelicovich 2014.

Endnotes:

167. Bhagwati el al. 2015, 18; Sharma 2004, 24.

168. USTR, 2011, 2013; Francois et al., 2013.

169. Francois et al., 2013: 82.

170. Bi et al., 2013: 207–208.

171. Petri and Plummer 2016, 20.

172. Subramanian 2015: 54.

173. This hits Chinese exports, but it also hits US companies who have invested in the special economic zones.

174. Singh 2014:1.

175. BRICS VI, 2014: 21.

176. Abhijit Das (2015), India and the Shadow of theTrans-Pacific Partnership, Economic & Political Weekly, November 7, 2015, vol L(45).

177. See Stiglitz, Joseph (2010), Freefall. Free Markets and the Sinking of the Global Economy. London: Allen Lane.

178. Smith 2005 [1776]: book III, ch. iv, pp. 340.

179. J o r d a n B r e n n a n ( 2 0 1 3 ) T h e Po w e r U n d e r p i n n i n g s, a n d S o m e DistributionalConsequences, of Trade and Investment Liberalisation in Canada, New Political Economy, 18:5,715-747, DOI: 10.1080/13563467.2013.736955;

Saez, Emanuel (2015), Striking it Richer: The Evolution of Top Incomes in the United States, June 25, 2015, The World Wealth and Income Database.

180. WTO, 2014.

181. See Bradford 2012.

182. Simona Iammarino and Philip McCann (2013), Multinationals and Economic Geography, Cheltenham: Edward Elgar, pp. 17, 18; UNCTAD (2013), World Investment Report 2013: Global ValueChains: Investment and Trade for Development, The United Nations Conference on Trade and Development, pp.

23, 135, 160.

183. S. Vitali, J.B. Glattfelder, and S. Battiston (2011), The network of global corporate control, October 26, 2011, DOI: 10.1371/journal.pone.0025995, pp. 31, 33.

184. E.g., Schneider, 2014; Robinson, 2015.

185. USTR, 2011, 2013; EC, 2015.

186. Bela Balassa 1962.

187. Elazar 1998.

188. Streit, Clarence (1939), Union Now. A Proposal for a Federal Union of the Democracies of the North Atlantic, New York: Harper & Brothers.

189. Meyer and Luenen, 2008.

190. Kennedy, John F. (4.7.1962), Declaration of Interdependence, accessible at http://www.jfklibrary.org/Asset-Viewer/RrjaDhW5B0OYm2zaJbyPgg.aspx, 24.12.2015.

191. Interviews, Juutinen 2015.

OBSERVER RESEARCH FOUNDATION

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