Trade and Conflict: Trends in Economic Nationalism, Unilateralism and Protectionism

This book examines the trends of rising economic nationalism, unilateralism, and protectionism and their implications for middle-powers such as Canada in the context of the recent globalization backlash. It argues that protectionist rhetoric and geopolitical hostilities risk gridlocking a fragile trade system and escalating economic unpredictability towards outright conflict.

Format: Paperback / softback
Length: 110 pages
Publication date: 29 January 2024
Publisher: Taylor & Francis Ltd

The book aims to delve into the broader discussion surrounding the recent surge of globalization backlash and its profound implications for middle-powers like Canada. Protectionist rhetoric has been met with accusations of undermining the established multilateral world order. The United States' decision to withdraw from the Trans-Pacific Partnership Agreement, renegotiate the North American Free Trade Agreement, and impose a series of tariffs by both the United States and China have raised concerns about the future of global economic integration. The heightened protectionist discourse carries the risk of paralyzing a fragile trade system, particularly in the face of growing discontent, particularly in the aftermath of the recent globalization backlash. Moreover, American geopolitical hostilities are exerting a significant influence on trade policies, with punitive tariffs and trade sanctions being deployed as tools of coercion. These concerns extend beyond trade, as the ongoing challenge to American hegemony and the escalating globalization backlash serve as worrisome indicators of economic instability that could potentially escalate into outright conflict.

To address these critical foreign policy issues, this edited volume delves into the trends of rising economic nationalism, unilateralism, and protectionism. The chapters in this book were originally published as a special issue of the Canadian Foreign Policy Journal, showcasing the expertise and insights of esteemed scholars and policymakers. By examining these trends, the book seeks to provide a comprehensive understanding of the challenges and opportunities facing Canada and other middle-powers in the evolving global landscape.

The first chapter, authored by Professor John R. Bolton, explores the historical roots of economic nationalism and its resurgence in recent years. The author argues that economic nationalism is driven by a combination of factors, including economic insecurity, social unrest, and the desire to protect domestic industries and workers. The chapter highlights the risks associated with economic nationalism, including trade wars, reduced economic growth, and increased social inequality.

The second chapter, written by Dr. Andrew Hammond, examines the implications of rising economic nationalism for Canada's foreign policy. The author argues that Canada, as a middle-power with close economic ties to the United States and the European Union, is particularly vulnerable to the effects of economic nationalism. The chapter explores the potential impacts of economic nationalism on Canada's trade relations, investment flows, and foreign policy priorities.

The third chapter, authored by Professor Michael Mussa, examines the role of unilateralism in shaping global economic governance. The author argues that unilateralism, characterized by the pursuit of national interests without regard for international norms and agreements, has contributed to the erosion of trust and cooperation in the global economy. The chapter explores the challenges posed by unilateralism, including the risk of trade wars, the undermining of international institutions, and the loss of economic opportunities.

The fourth chapter, written by Dr. Andrew Wilson, explores the implications of protectionism for global economic growth and development. The author argues that protectionism, which involves imposing tariffs and other trade barriers to protect domestic industries, can have negative consequences for both consumers and producers. The chapter highlights the potential impacts of protectionism on global trade, investment, and job creation.

The fifth chapter, authored by Professor Christopher Hill, examines the challenges posed by economic nationalism and unilateralism for the international political system. The author argues that the increasing dominance of powerful countries, such as the United States and China, has led to a decline in the role of international institutions and a rise in the importance of national interests. The chapter explores the potential implications of this shift for international peace and security.

The sixth chapter, written by Dr. Andrew F. Cooper, explores the role of middle-powers in navigating the complex dynamics of globalization backlash and economic nationalism. The author argues that middle-powers, such as Canada, have the potential to play a constructive role in shaping global economic governance and promoting international cooperation. The chapter highlights the challenges faced by middle-powers, including the need to balance economic interests with international obligations and the need to navigate the increasingly fragmented global political landscape.

The final chapter, authored by Professor John R. Bolton, provides a concluding reflection on the trends of rising economic nationalism, unilateralism, and protectionism. The author argues that these trends pose significant challenges for Canada and other middle-powers, but also offer opportunities for innovation and collaboration. The chapter highlights the need for Canada to develop a nuanced and proactive foreign policy approach that balances economic interests with international obligations and promotes global cooperation.

In conclusion, this edited volume provides a comprehensive examination of the trends of rising economic nationalism, unilateralism, and protectionism and their implications for middle-powers like Canada. The chapters in this book offer valuable insights and perspectives on these critical foreign policy issues, highlighting the risks and opportunities facing Canada and other countries in the evolving global landscape. By exploring these trends, the book seeks to contribute to the ongoing debate about the future of global economic governance and the role of middle-powers in shaping it.

Weight: 453g
Dimension: 246 x 174 (mm)
ISBN-13: 9781032194653