Overview

The book brings together new insights and perspectives on the implications of major changes taking place in global markets due to large free trade agreements or so-called mega-regionals, such as the Trans-Pacific Partnership (TPP). These changes will occur for both the trade regulation regime in major markets, and the private standards that are increasingly crucial for linking up with international value chains. The twelve members of TPP account for about one-fourth of world trade and two-fifth of global GDP. A number of others have shown interest to become members; it is now the model for the US to use in its other large trade negotiations, thus expanding its scope and reach in the future, and its disciplines are acknowledged to be higher than those resulting from some other mega-regionals such as RCEP. Therefore, global standards affecting world market conditions will flow from TPP. Its underlying aspiration will thus increasingly shape the future of trade and investment conditions in major markets, implying trade and investment diversion for non-member countries. A large majority of developing countries, including India, are out of this framework.

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Harsha Vardhana Singh has worked for over three decades on international trade policy, development, infrastructure regulation and global governance. He is senior fellow at International Institute for Sustainable Development (IISD), senior associate at International Centre for Trade and Sustainable Development (ICTSD), and senior fellow of the Council on Emerging Market Enterprises (Fletcher School, USA). He was deputy director-general at World Trade Organization for eight years till 30 September 2013. His direct areas of responsibility included trade in agriculture, services, trade and environment, technical barriers to trade, sanitary and phytosanitary measures, and electronic commerce. In India, he was economic advisor and then secretary of the Telecom Regulatory Authority of India. Earlier, from mid-1985 he worked in the GATT/WTO Secretariat for twelve years. He has been adjunct professor at SIPA (Columbia University) and at Fletcher School (Tufts University), taught at Nankai University in China, member of Global Agenda Council on Trade and FDI 2014-2016 (World Economic Forum), chair/member of high level policy committees, chair of WTO dispute settlement panels, and visiting faculty at research institutes on trade and regulation. He is a PhD in Economics from Oxford University where he went as a Rhodes Scholar from India.

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