On 5 December 2019 the Institute for Foreign Affairs and Trade (IFAT) hosted a round table discussion of associate research fellows who presented their latest IFAT policy briefs focusing on current topics of global economy.
When summarising his policy brief on the trade war between the USA and China, László Kacsirek, associate professor of Corvinus University of Budapest highlighted that tensions between the two economic powerhouses had a negative impact on the international value chains of European transnational companies. Nevertheless, European exporters can substitute Chinese and American products that are diverted by the high tariffs.
Gábor Kutasi, associate professor of National University of Public Service prepared his policy brief on the Hungarian aspects of the EU’s free trade agreement with Canada, Japan, Korean Republic, Columbia, Peru and Ecuador. The conclusion of the model calculation is that due to the effects of the agreement with the three developed countries, no significant sectoral expansion and additional GDP growth is expected in the Hungarian economy. In case of the emerging Latin American economies, the expected impact of sectoral output and GDP growth is zero.
When presenting his policy brief on economic relations between the EU and the ASEAN, Máté Szakáli, research assistant at Pázmány Péter Catholic University emphasised, that expanding engagement of the two blocs include strong economic relations. However, interest groups continue to impose pre-conditions to interregional and bilateral trade negotiations or ratifications over varied reasons.