IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

US, Europe and the developing world: transatlantic challenges for world integration

  • Fabrizio Onida

    (CESPRI, Università Bocconi, Milano)

For more than a decade Europe has been lagging behind the US in growth of aggregate GDP, per capita GDP, productivity, employment, as well as in demographic selection of new firms and in the design of market-friendly regulations. While an increasing trade agglomeration around large "regional" areas (NAFTA, Asia-Pacific, Europe) has taken place in the last decades, the US has become the primary external market outlet for many partners, including Western Europe. Moreover, trends in stocks and flows of foreign direct investment, while reflecting the increasing share of developing Asia and (to a lesser extent) of Central-Eastern Europe as countries of destination, do reveal a persistent solid Transatlantic interdependence through multinational production. An accelerating world integration of low-wages/highly productive emerging economies raises in US and Europe mounting fears of "excessive competition", massive net job destruction, downward spiral in domestic wages. While most empirical evidence points to positive "trade multiplier effects" from integration of newly industrializing economies in world economic development, national governments and international institutions are under pressure to provide effective "trade adjustment" policy measures, mainly aimed at restructuring declining activities, re-training manpower, improving infrastructures for labour mobility, favouring more technology generation and diffusion. Europe is seriously lagging under this respect. After the failure of Cancùn, both US and Europe share a big responsibility in providing new impetus to the ailing Doha Development Round. Under the pressure of the newly formed G-20, but also of the mounting tensions on the world political scenario (Islamic terrorism, Palestine, Middle East), both sides of the Atlantic seem aware of the great stakes and in search of new negotiating moves.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: ftp://ftp.unibocconi.it/pub/RePEc/cri/papers/WP164Onida.pdf
Download Restriction: no

Paper provided by KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy in its series KITeS Working Papers with number 164.

as
in new window

Length: 27 pages
Date of creation: Jun 2005
Date of revision: Jun 2005
Handle: RePEc:cri:cespri:wp164
Contact details of provider: Postal: via Sarfatti, 25 - 20136 Milano - Italy
Phone: +39.025836.3397
Fax: +39.025836.3399
Web page: http://www.kites.unibocconi.it/

Order Information: Postal: E G E A - via R. Sarfatti, 25 - 20136 Milano -Italy

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Catherine L. Mann, 2003. "Globalization of IT Services and White Collar Jobs: The Next Wave of Productivity Growth," Policy Briefs PB03-11, Peterson Institute for International Economics.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cri:cespri:wp164. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Valerio Sterzi)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.