This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP.

Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development

Ong Soon Keong explores the unique position of the treaty port Xiamen (Amoy) within the China-Southeast Asia migrant circuit and examines its role in the creation of Chinese diasporas. Coming Home to a Foreign Country addresses how migration affected those who moved out of China and later returned to participate in the city's economic revitalization, educational advancement, and urban reconstruction. Ong shows how the mobility of overseas Chinese allowed them to shape their personal and community identities for pragmatic and political gains. This resulted in migrants who returned with new money, knowledge, and visions acquired abroad, which changed the landscape of their homeland and the lives of those who stayed. Placing late Qing and Republican China in a transnational context, Coming Home to a Foreign Country explores the multilayered social and cultural interactions between China and Southeast Asia. Ong investigates the role of Xiamen in the creation of a China-Southeast Asia migrant circuit; the activities of aspiring and returned migrants in Xiamen; the accumulation and manipulation of multiple identities by Southeast Asian Chinese as political conditions changed; and the motivations behind the return of Southeast Asian Chinese and their continual involvement in mainland Chinese affairs. For Chinese migrants, Ong argues, the idea of "home" was something consciously constructed. Ong complicates familiar narratives of Chinese history to show how the emigration and return of overseas Chinese helped transform Xiamen from a marginal trading outpost at the edge of the Chinese empire to a modern, prosperous city and one of the most important migration hubs by the 1930s.