19 June 2012
Better Regulation for Freer Trade
This paper addresses the question of whether good regulation leads to freer trade. Few goods and services originate from any singular place or a lone supplier, but rather consist of components and manufacture from multiple suppliers scattered across several countries. Consistent, adequate, and predictable regulations are essential to the success of these global supply chains, but remain elusive. Without any international coordination, individual national regulations and private standards have proliferated. The resulting cacophony of laws has done little to promote US exports or effective regulatory oversight. The author advocates for the US pursuing regulatory integration on a regional basis and where the interests of trade officials, national regulatory authorities, and exporting nations overlap.
© 2012 Council on Foreign Relations (CFR)
Thomas J Bollyky