How can we think about the ‘geopolitics of trade’? The economic benefits of international trade must now be balanced against other geopolitical risks and opportunities. We have moved from an era of multilateral co-operation on free trade and economic sanctions, mostly on issues of nuclear proliferation, to a new era of economic competition in which states, large and small, see international trade in a wider geopolitical context. The return of Donald Trump to the White House, and his subsequent announcement and partial withdrawal of tariffs on much of the global economy, has shown both the nature of this new era, and the limits of coercive economic statecraft.
For the United Kingdom, it is the People’s Republic of China (PRC)’s role in the global economy, and its willingness to ignore international norms, that represents the biggest challenge. The PRC remains one of the UK’s largest trading partners and has historically been one of its largest sources of foreign direct investment. The role of Hong Kong in both economies has led to a uniquely close financial relationship. Yet the PRC has repeatedly undermined UK interests by stealing intellectual property, violated the 1984 joint declaration on Hong Kong, and showed itself willing to weaponise its crucial role in manufacturing supply chains. The United States, the U.K.’s key partner in advanced emerging technologies, has made clear that it intends to block Chinese technology, and act extra-territorially against the export of key products to China. This panel will bring together academics and policymakers to discuss how the UK should respond to this period of unprecedented weaponisation of global trade. What kind of relationship with the PRC is possible, or even desirable? How can the U.K work with its partners to balance the benefits of free trade with the importance of economic security, and technological leadership?
Speakers:
Kwasi Kwarteng – Former Chancellor of the Exchequer
Suzanne Raine – Former head of the Joint Terrorism Analysis Centre
Prof William Hurst – Chong Hua Professor of Chinese Development at Cambridge
Dr Hugo Bromley – Postdoctoral Research Associate Centre for Geopolitics
A drinks reception will follow this event.
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This event is sponsored by the University of Cambridge’s ‘Social Science Impact Fund’.
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