Durham & Thunmann
Diamond open access No APC ISSN 2977-0025
Journal of Global Trade, Ethics and Law
Submit manuscript
Journal menu
Cover of Journal of Global Trade, Ethics and Law, volume 1, issue 2
Archive issue

Volume 1 · Issue 2 · 2023

A published issue in the JGTEL archive. Article-level records are being consolidated into the new platform.

Published
07 June 2023
Articles
6
Access
Open access
Table of contents

Research articles

Search all articles
  1. 01

    Research Article · Pages 1–24

    The US GDP Growth and Sustainability Debt

    Haider Ellalee, Walid Y. Alali

    After the US dollar replaced gold, the US debt became attention worldwide, thus the demand for the US dollar continued, as the extremely low interest of the dollar. This helped the US government to borrow great amounts of debt as well as kept the creditors pleased. Due to the pandemic, the US economy retrograded because of the tax cut and unproductive rescue spending plan plus surpassing spending of the government. The acceleration of inflation looms, whereas the recession is begging to appear; certainly, the government must cut back on spending or its patterns, while this will lead to uncertain consequences for the long future. Whereas increasing the interest rate will be not the right solution for the long term, on the contrary, will lead to dire economic consequences. This paper discusses several different perspectives on the US government's sustainability as its ability to settle the debt in future, the fate of growth burdened with that debt through the neoclassical mode of growth, and also the effect of anxiety of defaults and unfunded obligations. Inversely, it explores the strength of the dollar with a low-interest rate and its sustainability worldwide. We also propose ways helping of strengthen the fiscal government position and solutions to help the economy recover in the long term and to easiest the situation. In the synopsis, we propose something that could affect and shake the global market.

  2. 02

    Research Article · Pages 25–42

    How Does Digitalization Impact Economic Growth? Evidence from China and the USA

    Umer Shahzad, He Xiaoyin

    Digitalization is a key component of the world economy from past recent years. Based on that in our study, we are taking part in the literature on how digitalization changes the economy of the USA and China. The study aims to investigate the impact of the Internet on the economic growth of China and the USA from 1990 to 2019. After we used the CobbDouglas production function, the outcomes analysis that there is a positive effect of the Internet on the Chinese economy and the United State economy. Additionally, internet cost and internet users also have a positive impact on the economic growth of China as well as the USA. Furthermore, the outcomes of our study give suggestions to the Chinese and the United State policy maker to motivate investors to invest in the field of information communication technology to improve the living standard and increase the economic growth of a country.

  3. 03

    Research Article · Pages 43–65

    The Ethics of African Regional and Continental Integration

    Dirk Kohnert

    Economists around the world agree that promoting intra-regional trade is an important driver of economic growth. This is also true for Africa, which, however, with a share of less than 3 %, has so far only played a marginal role in world trade. The decision of African leaders on the creation of an African Continental Free Trade Area (AfCFTA) in 2018 was not merely a political decision with economic implications. There is no meaningful alternative to regional integration. For without it, unrestrained growth according to the neoclassical model would rule the world, with all its negative effects on the most backward regions and economic sectors, the poor and other disadvantaged sections of the population, especially in Africa. Yet, it has significant and complex ethical dimensions too. This, not only concerning a possible trade-off between economic growth and well-being, employment, remittances, corruption, the depletion of natural resources and related ecological and gender problems. AfCFTA will also impact on growing xenophobia, nationalism and populism, the likely outcome of growing capital and labour mobility.

  4. 04

    Research Article · Pages 66–98

    Ethics in International Trade

    Robert W. McGee

    This paper examines ethics in international trade from several different ethical perspectives, including consequentialism, utilitarianism, virtue ethics and deontology. The views of Aristotle, Plato, Adam Smith, Bentham, Kant, Pareto, Rawls, Flew, Nozick, Bastiat and others are discussed and contrasted. Flow charts are provided to reflect the utilitarian and rights approaches to trade. Utilitarianism is shown to be structurally deficient for several reasons that cannot be overcome. Antidumping laws and sanctions are shown to be negativesum games. Antidumping laws are seen for what they are, tools of rent-seeking in which some influential minority seeks to use the powers of government to protect them from competition, which harms the vast majority of the population. Any trade restrictions must necessarily violate someone’s property, contract and/or association rights. The only way to achieve a just trade policy is to allow individuals, and the corporations that represent them, to trade what they have for what they want without government interference. The view that trade deficits are bad and trade surpluses are good is dismantled. The present paper also includes a bibliography on trade, including links to more than 100 studies on trade.

  5. 05

    Research Article · Pages 99–134

    The U.S.–Lithuanian Defence Cooperation and Arms Acquisition from the U.S.

    Donatas Palavenis

    The study aims to characterize the U.S. and Lithuanian defence cooperation from 1990–2020, including arms procurements. Findings suggest close defence cooperation between countries at the Presidential, Congressional, and Defence Ministry/Secretary levels. The most developed cooperation areas are joint participation in international operations, improvements of the Lithuanian Armed Forces’ capabilities, and an increase of the U.S. military presence in the Baltic region. An analysis of Lithuanian defence procurements between 1990–2020 indicates that the majority of defence armaments were acquired from the U.S. using the Foreign Military Sales venue, while other options to obtain armaments were not used.

  6. 06

    Research Article · Pages 135–182

    Who Cares About Workers’ Rights? The Effects of Violations of Trade Unions’ Rights on Donors’ Funding Decisions in the ILO

    Paweł Gmyrek

    This paper analyses the relationship between compliance with trade union rights and donors’ aid decisions as evidenced through multi-bilateral contributions to the ILO and a database of Labour Rights’ Indicators. Despite trade union rights being a fundamental worker right that all ILO Member states must uphold, the study finds that the level of labour rights violations is not systematically related to the volume of multi-bi aid channelled through the ILO to recipient countries. Nevertheless, a substantial share of ILO’s voluntary funded programmes implemented in countries with highest labour rights violations targets the strengthening of workers’ organizations, which leads to a discussion on optimal levels of funding in such situations and on conditioning of aid allocation on normative multilateral mechanisms, such as the ILO’s supervisory body.