The Great Recession and the turn towards all forms of protectionism stress the relevance of international trade policy. With the global economy undergoing deep structural changes, the negotiations between Canada and the EU on a Comprehensive Economic and Trade Agreement (CETA) present a real-time experiment that sheds light on the direction that the relationships between two economic units of the G8 will take. For Canada, an agreement with the EU would end its current dependency on the US; for the EU, an agreement with Canada would be a first with a G8-economy and indicate how its new trade strategy ‘Global Europe’ will look like.

This book is the first to simultaneously analyze the undercurrents of this project and introduce the main topics at hand. CETA is much more than a simple free trade agreement, its breadth covers regulatory aspects in goods, services, and finance; the opening of public procurement markets; attitudes and policies of Canadian provinces towards liberalization; climate policies and international leadership claims of the EU in comparison to Canadian policy attempts; the challenges of the Euro project and the reform efforts; and the challenges of the Euro as a international reserve currency.

CETA is a challenging project that will kick-start enormous changes in trade policy-making as well as in market openness in Canada. It will mark the EU’s efforts to re-make the Atlantic Economy. This book provides deep insights into the ambiguity of the project and addresses the implications of a rapidly changing global economy for trade policy. Offering analysis of the financial industry, banking, trade policy, climate change strategy, and the Euro exchange rate, this book should be of interest to students and policy-makers alike.

chapter 1|18 pages

Canada and the EU

Shaping transatlantic relations in the twenty-first century
ByKurt Hübner

part I|58 pages

Driving forces and motifs for the project of a comprehensive economic partnership

chapter 2|20 pages

European Union trade policy

The Canada–EU Comprehensive Economic and Trade Agreement (CETA) towards a new generation of FTAs?
ByStephen B. Woolcock

chapter 3|18 pages

Who scripts European trade policies?

Business–government relations in the EU–Canada partnership negotiations
ByCornelia Woll

chapter 4|18 pages

What is new with the new trade policy of the EU?

ByGiovanni Graziani

part II|86 pages

Canada and the global political economy

chapter 6|23 pages

NAFTA unplugged?

Canada's three economies and free trade with the EU1
ByPaul Kellogg

chapter 7|21 pages

Provincial pitfalls

Canadian provinces and the Canada–EU trade negotiations
ByChristopher J. Kukucha

chapter 8|12 pages

Federalism, separatism and international trade

The Canadian case
ByMarie Daumal

part III|80 pages

Regulatory and tax regimes

chapter 9|15 pages

A Canadian perspective on the EU's financial architecture

ByPatrick Leblond

chapter 10|21 pages

Explaining the diverging regulatory approaches to risk regulation between Canada and the EU

The case of genetically modified food labeling
ByM. Julia Bognar

chapter 11|25 pages

Canada, capital movements, and the European Union1

Some tax implications
ByMartha O'Brien

chapter 12|17 pages

EU investment treaty-making after Lisbon1

ByMarc Bungenberg

part IV|81 pages

Beyond “traditional” trade agreements

chapter 13|14 pages

Lessons for Canadian climate policy?

Insights from the EU ETS' first phase
ByUlrich Oberndörfer

chapter 14|15 pages

Facing climate change across the Atlantic1

How far apart are Europe and North America?
ByMichael Mehling

chapter 15|15 pages

Euro area stability in a time of crisis

ByAmy Verdun

chapter 16|17 pages

Macroeconomic imbalances and sovereign debt markets

ByErik Jones

chapter 17|14 pages

Disillusioned with the dollar but unconvinced by the euro1

China and global currency competition in the wake of the global financial crisis
ByPaul Bowles, Baotai Wang

chapter 18|4 pages

What next?

An outlook for the near future
ByKurt Hübner