1. Emma Mawdsley, University of Cambridge Emerging Powers as development actors; how the BRICS are changing the international aid industry 6-7.30pm, Wednesday 13th February Birkbeck College, 30 Russell Sq, Room 101

2. Regionalism: the rise of regional trading blocs? Protectionism and preferential/regional trading arrangements Stepping stone or stumbling block? J. Bhagwati… (or… Kosteckis swamp?) Typology of RTAs

6. Issues: Spaghetti or soup? Regionalism or Multilateralism? GATT/WTO; MFN? Trade theory – Customs Unions GATT, Article 24

7. Protectionism and preferential/regional trading arrangements Preferential trading clubs (imperial, commonwealth, ACP) Free Trade Area / Association (EFTA, NAFTA) retain individual external tariffs Customs Union: FTA + common external tariff CET(EEC) Common Market: CU + free movement of factors of production (EC) Economic Union (Benelux, EMU), currency, policies

8. Customs Union Theory J. Viner 1950 Regions stumbling block/barrier to free trade? trade creation vs trade diversion example on hand-out (pdf, Moodle) static gains vs dynamic gains

9. Protectionism and preferential/regional trading arrangements Preferential trading clubs (imperial, commonwealth, ACP) Free Trade Area / Association (EFTA, NAFTA) retain individual external tariffs Customs Union: FTA + common external tariff CET(EEC) Common Market: CU + free movement of factors of production (EC) Economic Union (Benelux, EMU), currency, policies

10. Debates over trade blocks See FT diagram… Relations between regions … Proliferation of RTAs & WTO The role of companies in regionalisation debates (Cox in F&L)

11. Regionalism vs multilateralism 1Who benefits? Aggregate vs welfare/marginal 2.Market driven or politically driven? 3.Inevitable slide to deeper integration? descriptive or prescriptive? economic dynamic (MNCs & FDI bind regions?) 4.Is political impetus due to: desire for internal cohesion, or desire for external leverage? 5.A shift in US (and other OECD?) policy towards bilateralism? - South Korean examples