Parochial Global Europe

Europe's trade policies matter in global politics. Despite the recent focus on Brazil, India, and particularly China, the European Union remains the world's largest market and trader. Despite its recent economic troubles, Europe remains in a powerful position to shape how globalization is governed. We know surprisingly little about how its trade policy is actually made, because previous works have focused on individual trade policy decisions to the detriment of the 'big picture' of the Union as a trade power. Parochial Global Europe argues that trade policy is composed of multiple, distinct policies. Each presents a distinctive constellation of mobilized societal preferences, pattern of political institutions, and range of government preferences. The balance of economic power between the EU and its trade partner(s) affects the stakes involved. Together these four factors define trade policy sub-systems, which help explain both the EU's objectives and whether it realizes them. The authors advance this argument by analysing the EU's role in the demise of the Doha Round, its use of anti-dumping and pursuit of market access, the trade effects of its single market programme and efforts at regulatory diplomacy, including the launch of the Transatlantic Trade and Investment Partnership negotiations. Parochial Global Europe thus focuses centrally on modern, 21st century trade policy. It also sheds light on the EU as a global actor by analysing its use of trade policy as a tool of foreign policy from promoting development, to encouraging human rights and environmental protection, to punishing security threats. John Peterson and Alasdair Young do a masterful job of exposing the secret ingredients of Europes trade policy sausage a fascinating blend of commercial interests, reciprocal bargaining and foreign objectives come together as the European Union uses its considerable heft to shape global policy. Gary Clyde Hufbauer, Reginald Jones Senior Fellow, Peterson Institute for International Economics, Washington DC Parochial Global Europe captures, in both title and content, the practice of trade policy and politics in the worlds largest market and trader. By highlighting the policy sub-systems that shape diverse trade actions across the European continent, Peterson and Young bring new understanding to scholars and practitioners alike. We are very much in their debt. I.M. Destler, Saul I. Stern Professor of Civic Engagement, University of Maryland1. The Importance of the EU to Trade and Trade to the EU ; 2. Analyzing EU Trade Politics: A Policy Sub-Systems Approach ; 3. The Origins and Development of EU Trade Policy ; 4. The Multilateral Trading System: The (False?) Promise of Reciprocity ; 5. Non-Reciprocal Trade Policies: The Sword and the Shield ; 6. Incidental Trade Policy: The Single European Market ; 7. Limited Liberalization Through Regulatory Cooperation ; 8. Trade Policy as Foreign Policy ; 9. Conclusions: 21st Century European Trade Politics ; References