AIG Global Trade Series

Back to the Future: a New Era of Managed Trade? Globalisation’s next chapter is being written, driven by concerns about supply chain risks. The global trade in goods is increasingly seen through a security prism in capitals around the world and governments are developing new policies to reduce unwanted dependencies, seek new sources of leverage and guarantee supplies. Trade links are being reordered as policymakers scramble to secure access to strategic materials and positions in global value chains. Meanwhile, geopolitical turbulence and climate ambitions are giving rise to industrial policies, sanctions and a growing use of subsidies. From investment screening to quotas to export controls, policymakers are proposing an increasing number of tools and policies to steer trade and investment flows. But despite worries about protectionism and fragmentation, trade continues as the private sector manages risk by embracing diversification. Elections in the US, EU, Mexico, UK, Indonesia, India and elsewhere may also lead to a reordering of the global politics of trade. Has the global trade system entered an era of managed trade? What will it mean for regional approaches to trade, and what does it mean for multilateralism and the WTO? Ultimately, the main question could be: who is in the driving seat in this brave new world for trade?

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Critical Minerals and Trade in South East Asia: Regional Dynamics in a Global Context

The 2024 edition of the AIG Global Trade Series explores the theme of ‘Back to the Future: A New Era of Managed Trade?’Both the digital transition and decarbonisation ambitions have heightened demand for specialty metals, including nickel and lithium for electric vehicles and rare earths for advanced microelectronics. But as advanced economies’ access to these metals is becoming increasing critical, supply security concerns are increasing: production of critical metals is concentrated in a small number of locations, while geopolitical tensions are rising. The race to produce and acquire these minerals is boosting investment in Asia-Pacific, changing the relationship between the region and the global economy. Focusing on Indonesia and Australia, what role do producer countries play in the global supply chain for critical metals? How are these countries responding to economic and geopolitical and sustainability pressures? And how are countries in the region handling growing pressures towards fragmentation seen elsewhere in the advanced technologies global supply chain?Panellists: Professor Ian Satchwell, Adjunct Professor, Sustainable Minerals Institute, The University of QueenslandDr Alloysius Joko Purwanto, Energy Economist, ERIAModerator: Dr Rem Korteweg, Senior Research Fellow, Clingendael InstituteThis podcast episode was recorded on 2 October 2024. Related content from GTS Contributors:Report | Reclaiming Leadership: Australia and the global critical minerals raceReport | Policies and Infrastructure Development for the Wider Penetration of xEVs in ASEAN Countries – Phase II ___ The Global Trade Series is a collaboration between AIG and the following international organisations with leading expertise on global trade: the Aspen Institute Germany; CEBRI - the Brazilian Center for International Relations; Chatham House (UK); CITD - the Center on Inclusive Trade and Development at Georgetown University Law Center (US); the Clingendael Institute (The Netherlands); Elcano Royal Institute (Spain); ERIA – the Economic Research Institute for ASEAN and East Asia (Indonesia); ISPI - the Italian Institute for International Political Studies; the Jacques Delors Institute (France); RIETI - the Research Institute of Economy, Trade and Industry (Japan); and the St. Gallen Endowment for Prosperity through Trade (Switzerland).The views and opinions expressed in this podcast series are those of the speakers and do not reflect the views, policy or position of American International Group Inc, or its subsidiaries or affiliates (AIG). Any content provided by the speakers in this podcase series is their opinion, and is not intended to malign any religion, ethnic group, club, organization, company, individual or group of individuals or anyone or anything. AIG makes no warranty or representations as to the accuracy, completeness, correctness or validity of any information provided during this podcast series, and AIG will not be liable for any errors, inaccuracies or omissions in the information provided during this podcast series or any damages, losses, liabilities, injuries resulting from or arising from the Podcast including your use of the Podcast.

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