The Brookings Institute recently released a study on shifting global trade policies. The study is focused upon a three-year term and takes into consideration numerous macro-economic factors such as US and China trade war. Such a comprehensive study brings insight into global trade – but also touches upon the broad patterns impacting global labor and migration, says global relocation expert and NY based attorney Jon Purizhansky.
One of the study’s most interesting findings is that there is a shift away from open trade. The Study focused on G-20 countries during what was deemed a populist era (2017 – 2019). In a hyper competitive environment many countries observed and imposed regulations that increased tariffs. This effort was largely commented upon on the United States and China. However, it also impacted nearly the entire world, and especially the G-20. Accordingly, certain sentiments believe that the US/China tariff dispute had ripple effects throughout the world. Nonetheless, essentially the entire global economy was impacted.
When the global economy is impacted – global migration and labor is directly and indirectly affected, says Jon Purizhansky. When certain countries were subjected to higher tariffs for commodity related goods, employers often seek to mitigate the rising costs by importing lower priced labor. As a result, new patterns of labor and migration can be observed.
The Study further identified many recent trade policies concentrated upon a smaller number of goods than previous years. Moreover, there were an increased number of protectionist acts during this period, impacting a more concentrated listing of goods than during the financial crises of previous years. In addition, during the same time period trade reforms have diminished from previous years. The imbalance in trade reforms has led to a less even playing field.
The Brookings Institute’s Study took a deep look at specific countries around the world, and particularly the G-20. The Brookings Institution’s studies are generally widely lauded for their detailed and analytical approach to derive a macro-economic basis for theory, continued Jon Purizhansky. The Brookings Institute often publishes such reports and studies since it was founded in 1916. The organization is a Think Tank based in Washington DC.
Much of the research and policy education provided is around social sciences, including economics, public policy, foreign policy, governance, global economy, and economic development. Accordingly, many of these areas tie directly into global labor and organized migration. Hence, their research into various areas ties in the labor markets and is closely followed by labor policy regulators, employers, and public interest groups.
Originally Posted: http://www.jonpurizhanskybuffalo.com/shifting-global-trade-policies/