For Immediate Release on May 2, 2023
Major New Book on International Trade and Market Distortions Released
“Trade, Competition and Domestic Regulatory Policy: Trade
Liberalisation, Competitive Markets and Property Rights Protection” by
Shanker Singham and Alden Abbott has been published by Routledge Press. The
authors are now involved in a series of book launch events before audiences internationally
and are available for press interviews. This new and unique study addresses the
harmful effects to both consumers and national wealth, of the failure to
address internal market distortions in the context of addressing cross-border
trade barriers through the negotiation of international trade agreements. While
there are many books on the subject of trade, competition and property rights
separately, there are few if any that set out a normative framework for the
study of all three areas.
In introducing the authors and the book at a recent private luncheon, international
trade and property rights expert Christine McDaniel said that the book addresses
the “three pillars.. domestic economic and regulatory policy, international
trade policy and property rights” and where they come together. “A lot of our textbooks will only just deal
with one pillar at a time”, she said. “There’s a lot of grey areas though in
where these areas intersect and that’s where this book comes in.” The book has “substantive, theoretical frameworking…
but the book also really connects these areas to real life issues, explaining
how we got to where we are and providing a road map to what would be a better
way.”
While the book stands on its own as an academic textbook and
contributor to the field of research in the areas of international trade and
competition, it is also a roadmap for policymakers and governments who wish to
grow their economies in an era of rapidly changing geo-economic framework.
At a recent private discussion on the book, Shanker Singham
summarized the purpose of the approach in the study as follows: “If you have a
liberalized trading system, you lower trade barriers, you have pro-competitive
markets inside the border and you protect property rights, you’ve got the best chance
of liberating GDP per capita growth inside your country.”
Alden Abbott’s summary of the intent of the book was as
follows: “The important thing in the book is explaining precisely why.. getting
rid of government restrictions that favor some companies over others that
restrict competition, broadening that globally, is a way to prosperity. There
is a lot of historical evidence that that’s true.”
In addressing the history of what the authors call “Anti-Competitive
Market Distortions”, the book goes beyond ordinary debate about high versus
low tariffs, indicating that even in lowered tariff regimes, the true general
wealth benefits cannot be realized until market distortions are addressed. Such
distortions include the legacy state sector industry of the former communist
countries as they were integrated into global trading, and similar distortions
in China, today. Market distortions also exist in most countries, such as in
the cases of government regulation which advantage particular corporations over
their potential competitors. The book therefore addresses head on the most
profound challenge to the viability of the international economic order today –
how we contain the massive market distortions emanating from China, while
managing the relationship with one of the largest economies the world has ever
seen.
The book’s authors backgrounds and professional expertise
highlight the potential impact of this work.
Shanker A. Singham is one of the world’s leading international trade and competition
lawyers/economists. Furthermore, he is CEO of Competere and a former cleared
advisor to the United States Trade Representative. Mr Singham is also former
advisor to the Secretary of State for International Trade of the UK. He is a
frequent commentator on various broadcast and print media in the UK.
Alden Abbott is a Senior Research Fellow at the Mercatus Center at Virginia’s George
Mason University, focusing on antitrust issues. Before joining Mercatus, Mr.
Abbott served as the Federal Trade Commission’s General Counsel from 2018 to
early 2021, where he represented the Commission in court and provided legal
advice to its representatives.
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of Press Release——————————-
For press
availability or other information, including arranging review copies, please email
[email protected].
Book information:
Trade, Competition and Domestic Regulatory PolicyTrade-
Liberalisation, Competitive Markets and Property Rights Protection
By Shanker A. Singham, Alden
F. Abbott
ISBN 9780367339876
500 Pages 11 B/W
Illustrations
Published March
29, 2023 by Routledge
Copyright 2023