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The CEPII Newsletter       
November 2013        



The French edition is slightly different as it also includes material available in French only  

Europe Monnaie & Finance Trade & Globalization Migrations Economic Policy Emerging Economies Competitivness & Growth Environment & Natural Ressources
  Focus

WTO: Rethinking the special and differential treatment granted to developing countries

The special and differential treatment granted to developing countries, a key principle in the multilateral trading system, now appears broken-down. Based on a speech given at the WTO Forum, this post reviews -with a focus on agriculture- why this is so and what could be done. >>>
  Facts & Figures

-$6bn




A border carbon adjustment in the European Union would imply export losses and lead to disputes at the WTO. The possible ensuing trade retaliation would entail export losses for the EU focused on agricultural goods, of an order of magnitude of 6 billion dollars, as soon as retaliation begins.
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  Opinion




Imbalances in the euro area have not reduced

Southern countries were massively overvalued before the euro area crisis. In particular, Greece has not registered any improvement considering an output gap that captures the financial cycle (10-15 years) instead of the business cycle (5 years). Spain and Portugal have significantly reduced their misalignment but against France and Italy instead of Germany. As a consequence, imbalances in the euro area have not reduced.
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   Benjamin Carton, Karine Hervé



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  • ISSN: 1255-7072
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