ABSTRACT
This chapter discusses the emerging trends in global trade. After countless months, President Barack Obama was finally given authority to expedite negotiations for a landmark agreement with Pacific Rim countries that will reshape the global economy. During Obama's tenure as president, pro-growth policies were few. The victory means the US reasserted itself as a trade leader after a decade of being on the sidelines. British economist David Ricardo changed how people think about trade when he developed the theory of comparative advantage. US foreign policy has reached a turning point, as analysts from across the political spectrum dust off Cold War-era arguments and instead advocate for the implementation of a containment policy against China. The collapse of a global trade agreement centered on simplifying customs rules will make it extremely difficult for the World Trade Organization (WTO) to complete its much-delayed Doha round of negotiations.
