Abstract

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Global trade and the supply chains that support it are undergoing a period of profound change, including structural transformations in the cross-border flow of goods and services thanks to liberalization and improved communication, as well as sweeping changes in big exporting economies, especially in Asia. At the same time, the United States and countries in Asia, Latin America, and Europe are seeking to update the global trade architecture with ambitious trade pacts such as the Trans-Pacific Partnership (TPP), the Transatlantic Trade and Investment Pact (TTIP), and other regional accords. Global supply chains face several challenges. Trade itself is becoming less of a driver of global growth, and is confronted by a resurgence of protectionism across nearly all major markets. Other threats include climate change, decaying infrastructure, cyberattacks, and human rights abuses, all requiring responses from both corporations and governments.