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New Powers and the Distribution of Preferences in Global Trade Governance: From Deadlock and Drift to Fragmentation
[journal article]
Abstract
Existing theories make divergent predictions about the impact of new powers on the global political economy. Some argue that a more even distribution of power will erode international cooperation, while others argue that cooperation can continue with the help of international institutions to overcom... view more
Existing theories make divergent predictions about the impact of new powers on the global political economy. Some argue that a more even distribution of power will erode international cooperation, while others argue that cooperation can continue with the help of international institutions to overcome collective action problems. We argue that this debate overlooks a critical determinant of the shape of power transitions: the distribution of preferences amongst the major powers. It is primarily in the context of divergent preferences that power transitions are likely to give rise to conflict. Moreover, even where preferences diverge, the gains of cooperation provide a strong incentive to continue to pursue goals through multilateralism. This situation leads to forms of institutional change unanticipated by established theories. These include 'deadlock' in expansive multilateral fora, institutional 'drift' as old rules cannot keep up with the changing political and economic context, and 'fragmentation' as countries seek minilateral solutions that reduce preference diversity. We develop this preference-based, institutional argument by examining the distribution of preferences and institutional change at the World Trade Organization (WTO) and its Doha Round, where the power transition is relatively advanced.... view less
Keywords
WTO; fragmentation; global governance; power
Classification
International Relations, International Politics, Foreign Affairs, Development Policy
Free Keywords
BRICS; Doha round; power shift; preferences; rising powers
Document language
English
Publication Year
2018
Page/Pages
p. 1-24
Journal
New Political Economy (2018)
Handle
https://hdl.handle.net/10419/181366
ISSN
1469-9923
Status
Published Version; peer reviewed