Reglobalisation: Changing patterns

The last two and a half years have reminded us how fragile the global political, economic and financial system is: successive waves of the Corona pandemic, constant ups and downs of economic activity, severe disruptions of global value chains, the brutal shock of the Russia-Ukraine conflict and its economic consequences. All of this has triggered intense discussion about far-reaching and lasting impacts on the political, military, economic and financial world order. Global trade and economic interdependence are no longer seen as a guarantee for peace and against military conflict. On the contrary, the restriction of global trade and financial relations is used to sanction military aggression. While this is not new, the scale is unprecedented in modern history. As a result, global trade faces new challenges and Europe in particular faces the need to fundamentally rethink its energy supply and energy policy in general.

The workshop presents findings from the latest edition of “Schwerpunkt Außenwirtschaft”: The first part briefly addresses the current framework conditions for global trade as well as Austria’s foreign trade relations. The second part focuses on three major themes covered in this edition's focus "Reglobalisation: Changing patterns": First, the role of entrepreneurship: how are businesses dealing with major uncertainties in the global environment, including disruptions in global value chains? How will new technologies affect the future of global trade? How will new payment modalities affect global trade? What role should data protection play? How will services be affected? Second, what is the role of climate change and climate protection in shaping the future development of world trade? And finally, how do global trade flows change when the political landscape changes? What role do the "superpowers" USA and China play in shaping the future of global trade? And do the benefits of free trade still apply? 


Program

Opening remarks
Governor Robert Holzmann (OeNB) and Vice-President Amelie Gross (WKÖ)

Current developments in the economy and in foreign trade

• Klaus Vondra (OeNB): Current development of world trade and the Austrian Economy
• Barbara Tasch-Ronner (WKÖ): Recent developments in EU trade policy
• Leonhard Pertl (WKÖ): Austria‘s foreign trade in goods – recent developments
• Patricia Walter (OeNB): Austria’s international trade in services

Panel: Reglobalisation: Changing patterns

Moderation: Christoph Schneider (Economica)

Entrepreneurship and technologies in tomorrow’s global trade system

• Luisa Santos (BusinessEurope): European business in a changing political and economic environment
• Lisandra Flach (ifo): Sourcing Strategies in Response to COVID-19: Evidence from German Firms
• Luca Marcolin (OECD): The Provisions of Service in Global Value Chains
• Mark Purdy (Purdy&Associates): Next-generation technologies and the future of global trade
• Zach Meyers (CER): Will retail central bank digital currencies unlock cross-border payments?
• Martina F. Ferracane (EUI): Regulating Personal Data: Data Models and Digital Services Trade

Climate protection, scarce resources and international trade

• Klaas Lenaerts (Bruegel): Fighting climate change requires strong green growth policies and trade, not degrowth
• Stefan P. Schleicher (Universität Graz): Trade and Climate – The Disrupted Nexus
• Martin Menner (cep): “Carbon Leakage-Proof” Climate Clubs
• Jan Atteslander (economiesuisse): Sustainability and International Trade: How to reinforce

Public policy landscape

• Robert B. Koopman (WTO): The multilateral trading system and trade cooperation in a time of great change and stress
• Matthias Diermeier (iw Köln): Globalization under pressure? How current megatrends shape the patters of international trade, capital flows and technology diffusion
• Tim Joris Kaiser (EC Representation AT): Asserting sovereignty: EU policy instruments to support open and fair global ties
• Sophia Kluge, Branimir Jovanovic und Olga van Zijverden (DIHK): Near-shoring perspectives in the post-pandemic world and the implications for the Western Balkans
• William A. Reinsch (CSIS): China as Best Customer and Biggest Threat – Trade Policy in the Biden Era
• Elisabeth Christen (WIFO): America is back - opportunities and challenges for reviving international cooperation
• Lisandro Abrego (IMF): The African Continental Free Trade Area Agreement
• Nina Vujanovic (WIIW): The Regional Comprehensive Economic Partnership (RCEP) agreement and its economic implications

Invitation and program