A combustible confluence of factors is pushing the US-China trade relationship, and the global trade system in general, into dangerous territory. The Ukraine crisis and the potential for the imposition of painful sanctions and countersanctions only exacerbates the volatility of the moment. As the existing trade system passes away, a new equilibrium will have to be established – but could it be achieved?
Countries are increasingly vying for leadership in advanced-technology industries. In this quest, it’s important countries avoid zero-sum, “innovation mercantilist” policies—such as IP theft, forced technology transfer, or excessive industrial subsidization—that confer unfair, non-market-based advantages for domestic competitors. GTIPA reports here examine innovation mercantilism and its global economic effects.