China's opening up has unleashed lucrative opportunities to foreign investors. However, doing business in China is far more difficult than many people have anticipated. Using a new theoretical framework and comprehensive evidence, this book systematically examines China's hard and soft investment environment for FDI. Main problems encountered by investors are also investigated. The book is an essential guide to investors in avoiding common and expensive pitfalls of doing business in China and an invaluable reference for consultants, researchers and students in understanding the Chinese market.

The process of globalization is dynamic in the direction of increasing integration. The effects of economic events in one part of the world affect economic affairs in other parts of the world. This book focuses on the role of the state in IEFP and also explores how institutions and trade affect globalization.

The authors of this volumescrutinize the Russian business sector with attention to firm organization, business integration, corporate governance, and company management. Using a unique dataset of Russian joint-stock companies obtained from a large-scale enterprise survey conducted throughout the country, the authors empirically examine key issues for understanding the Russian corporate sector: ownership and the internal control system; the impact of business integration upon corporate governance and performance of affiliate business groups; and the role of external agents including commercial banks, business associations, and the state in corporate governance and management in non-financial enterprises.

When and why did the United States policy of containment of Iran come about? How did it evolve? Where is it going? Much has been said about the US policy of dual containment, particularly as it pertains to Iraq. However, there has been little in-depth analysis of this policy when it comes to Iran. Sasan Fayazmanesh explores this often neglected subject by analyzing the history of this policy. The analysis includes the role that the Carter and Reagan Administrations played in the Iran-Iraq war, the numerous sanctions imposed on Iran by the Clinton Administration and the aggressive and confrontational policy toward Iran adopted by the George W. Bush Administration after the events of September 11, 2001. This topical read synthesises a range of primary sources, including firsthand reports, newspaper articles and electronic media, and presents a coherent analysis of the ebbs and flows in the US thinking on Iran and Iraq.

The various dimensions of the changes to the EC budget induced by Maastricht are explored in this volume. Based on the theory of fiscal federalism, this book discusses important aspects of multilayer government finance for existing federations: Australia, Germany, Switzerland and the United States. Paul Bernd Spahn sketches the effects of an Economic and Monetary Union (EMU) onto the Community budget, and a systematic treatment of revenue instruments for its future financing concludes the analysis. The main emphasis of the work is on revenue raising for the EC under EMU.

Banks' business is increasingly international and an elite group of global banks is emerging. This book outlines the influences on the evolution of international banking and analyses trade and investment in the international banking industry, covering cross-border trade in banking services, foreign direct investment by banks, international financial centres, capital movements, and competition between banks. Focusing on competitive advantage, it compares the leading banks' international business. This book is of interest to academics and students as well as to bankers. It provides a transversal and truly comprehensive overview of the international banking industry, focusing on the organization of the industry and the influences on it, rather than on the functions of banks themselves.

The contributors to this volume discuss the lack of competitiveness of Eastern countries and their need for structural adjustment. The main issues considered are the problem of price convergence in integrated markets, the positive approach to foreign capital inflows, the problem of the current account deficit and the direction of strucural change. The book consists of a wide range of theoretical approaches--from supply-side to more demand-side orientations.

The volume focuses on the issue of globalization of research and development (R&D) in China. China has become the number one choice of R&D for multination corporations (MNCs), according to a recent survey. Many of the largest MNCs in the world, such as Microsoft, GE, GM, HP, Motorola, and Lucent, among hundred of others, have established R&D facilities. The phenomenon has become a hot issue among policy debates in many countries regarding job outsourcing, national and regional competitiveness, and China. This book examines the issue of foreign R&D, particularly, those from MNCs in China: the drivers, missions, locations, management challenges, policies, and implications for China's innovation system. This book was previously published as a special issue of the Asian Pacific Business Review.

The Japanese economy is beginning to show signs of recovery after years of stagnation/deflation, but many Japanese policymakers warn that this economic growth may be sluggish: slower than in the United States and certainly slower than in other East Asian countries. Japan faces significant economic problems, including an aging population, a large fiscal deficit, and the need to adjust to the IT economy and to competition with the rest of East Asia. A slow growth scenario would greatly reduce opportunities for new productive investment and would make it increasingly difficult to provide for Japan's growing social needs. The authors of this book argue that Japan can and should grow more rapidly, and examine the reasons for the sluggish performance of the Japanese economy. For example, some Japanese economic sectors, particularly in distribution and finance, have failed to take advantage of new information and communications technology to accelerate the growth of productivity, as has happened in other countries, such as the US. Production function studies and econometric model simulations suggest that with appropriate policies the Japanese economy can grow more rapidly and deal with its future problems. The book posits a number of policy proposals which would help to accelerate Japan's economic growth This book will be of interest to students of the Japanese economy, macroeconomics and international economies, and also to policymakers and professionals interested in Japan's economy.

This authoritative book, bringing together the reports of the Competitiveness Advisory Group, identifies actions to improve European competitiveness politically, economically and socially. The objective is to raise living standards and maintain social cohesion. The Competitiveness Advisory Group has the mission of advising the European Commission and the Heads of State and Government of the European Union. The members of this independent group, which includes leading industrialists, trade unionists, politicians and academics, have adopted a 'bottom-up' approach, seeking to draw lessons from the experience of countries, industries and firms: they rely on 'benchmarking' in order to identify best practice. In the context of increasing interdependence of world trade and consequent globalization of the international economy new policy prescriptions are required for growth and employment, greater efficiency and higher standards of living. In relation to this, the Group discusses the need to close the worldwide technology gap, for Europe to develop deeper relations with the fast growing Asia Pacific region and argues for greater European solidarity in international trade negotiations. Within the European Union itself, it emphasizes the need to achieve the internal market for the free flow of goods, services and people. In addition, it stresses that Europe needs to catch-up, construct and eventually lead the development of the information society in which workers are recognized as a major asset to be invested in. The Group concludes that, although unemployment remains high, European competitiveness now has a brighter future with the movement towards economic and monetary union, and the enlargement of the European Union eastwards. This book will be essential reading for policymakers, government advisers, industrialists and academics concerned with the future of European economies and societies.

Ashdown analyzes some of the mainstream theories that policy makers and global leaders use as templates in understanding the international system and measures their effectiveness in explaining the policies of nation-states, particularly in regard to trade and power. Throughout, the United States is used as a case study to see how banking and central bank monetary policies affect international trade and investment.

The study examines the banking history of the United States and how the corporate consolidation process was institutionalized with the creation of the U.S. Federal Reserve System. Ashdown concludes that current policies fail to support the national interest by creating policy that allows or ignores sustained trade deficits over consecutive years. He demonstrates how institutions can affect, or even constrain, the policies of nation-states, which is then theoretically generalized in demonstrating how other global actors are shaping the post-bipolar international power structure. Of particular interest to scholars, students, and policy makers involved with economic policy, finance, and international business.

The chapters in this volume identify and assess the political process and bases of support for multilateralism in terms of the shifting power relations in world politics, institutional innovations in the United Nations and non-UN multilateralisms. They seek to answer the question: What can and should be done to confront salient issues of the "global problematic" ? More specifically, the contributors ask whether currently existing multilateral mechanisms are up to the challenge.

This volume provides comprehensive updated coverage of inequality and poverty issues in China. Some of the methodologies developed herein are published for the first time and may be used in other contexts and for other countries. The use of different data sources and state-of-art research techniques ensures that the findings and conclusions can be substantiated and that the policy recommendations are reliable and robust. Contributors to this volume are renowned experts in their respective areas, including, notably, Justin Lin, Xing Meng, Kai-yuen Tsui, and Guanghua Wan. For these reasons, those with an interest in income distribution in general and China's development in particular, will find this volume essential reading.
Rapidly rising inequality in China has contributed to the sluggishness of domestic demand and emerging poverty. It has thus exerted considerable pressure for commodity exports and represents a root cause of increased trade disputes. These have profound ramifications for the US, EU, and other economies, and the international business community. Consequently, economists and sociologists, among others, are increasingly focused upon inequality and poverty issues in China and relevant policy implications.
This volume, arising from a two-year UNU-WIDER project, addresses issues that include the inequality-growth relationship, regional/personal variation in incomes and human well-being such as education, the determinants of inequality and poverty or their changes, gaps in innovation capability, and the role played by China's development strategies in affecting inequality.

Even as relations between Taiwan and the People's Republic of China continue to be strained, investment by Taiwanese businesses in China is growing every year. Between 1978 and 1994, Taiwan businesses invested $10 billion in China, 10% of the total foreign investment during that period. This study describes the magnitude and importance of this investment. Hsing demonstrates the role of a shared cultural heritage and language and the role of Chinese local government in building networks of firms in the two countries.

With growing concern about the oceans and the resources of this realm has come a proliferation of international and national efforts aimed at protecting this environment. This volume constitutes the initial effort to reflect on the outcomes associated with the third Law of the Sea Conference and to assess how the reforms and changes brought on by this conference have performed.

The establishment of 200-mile Exclusive Economic Zones (EEZa (TM)s) constitutes one of the most far-reaching distributional and institutional changes in the history of the world. They brought over 20 % of the worlda (TM)s oceans, a substantial proportion of its productivity, and 90 to 95 % of world fisheries under the national jurisdiction of coastal states. At this time, 145 states have ratified the Law of the Sea Convention and most have established EEZs. Some have established only a legal framework, while other countries have elaborated EEZ regimes. This volume focuses on the specific nature of the EEZ and the construction and evolution of institutions stemming from its introduction, specifically examining developments at local, national and international levels.

The analytical core of the volume focuses on the development of institutional arrangements for the management of living marine resources, occurring at different levels of social organization, that have developed from the introduction of the EEZs. The chapters cover case studies from both the north and south, in the Pacific and the Atlantic Oceans. The case studies critically examine the impact of the EEZ regime on institutions at local, national, regional and international levels of social organization. The broad range of contributions by theauthors highlights the diversity of institutions and outcomes that have emerged from the implementation of the EEZs, providing a rich opportunity for comparative analysis. By doing so, we seek to address three broad questions:

-What is the nature of the institutions that coastal states have created within the framework provided by the EEZs?
-How has the creation of the EEZs affected the vertical interplay among institutions at different levels of social organisation (i.e., international, national, traditional and co-management regimes) and the horizontal interplay among institutions focused on different functional arenas (i.e., trade, environment and fisheries)?
-How has the development of EEZ-based regimes affected the fit of marine resource management institutions with biophysical systems?

With traditional growth engines failing, the world is looking to Asia for economic salvation. This book charts the rise of China, India and ASEAN nations, who are increasingly being seen as the new growth drivers for the world, and discusses the imminence of a new global economic order.

China has become one of the biggest exporters of goods into the global economy. Yongjin Zhang offers a detailed account of the political and economic context, both domestic and international, in which China's nascent global businesses began to emerge in the late 1980s. The analysis of changing policy regimes for China's outward investment is combined with an institutional investigation of the rise and operation of three prominent Chinese multinationals. The first systematic study available of the political economy of China's emerging global businesses, this book fills a significant gap in the literature on the transformation of the Chinese economy.

The European Union faces a range of economic challenges and dilemmas in the coming years, both as a result of continued expansion and also because of an increasingly globalised world economy. It has been necessary for the EU to assess and explore a variety of economic policies to deal with these challenges, as well as tackling issues such as Eurozone dynamics and cohesion, labour markets, taxation and fiscal policies. By looking at economic trends in the European Economic and Monetary Union in recent years, we can begin to assess economic performance and to analyse how current issues will affect this performance in future.
This book brings together a range of economists to analyse the dual process of deepening and broadening in the EU, and provides a balanced and multifaceted look at recent EU dynamics, as well as looking at current and future issues facing old and new member states. With contributions covering numerous aspects of European economic performance, this book is an essential resource for all academics interested in European economics and EU integration.

The vision of a 'new' international division of labour, involving relocation of 'traditional' industrial activities to the Third World and specialisation in 'high-technology' industries by developed countries is an attractive one. But critics respond that this vision conceals the reality of heightened exploitation in the former and industrial and geographic decline in the latter. However, critical approaches are sometimes vitiated by economistic, functionalist and determinist arguments. Because of the potential they offer to overcome these conceptual dilemmas, French regulation theories have attracted attention among scholars from diverse disciplines. This book assesses the implications of French regulation theories for our understanding of the concept of the international division of labour. It distinguishes the Parisian approach, represented by Michel Aglietta and Alain Lipietz, from the Grenoble school. It is based on a thorough study of the French literature and on interviews with the major theorists. For English-language readers, the book offers an excellent introduction to Francophone debates in international political economy.

Modern economies become more and more open and the external sector of an economy becomes more and more important. This textbook aims at clarify ing how an open economy functions, in particular at explaining the determi nants of international fiows of commodities and financial assets. It also aims at examining the effects of these fiows on the domestic and international econ omy and the possible policy acti.ons at the national and international level. Particular attention will be paid to the problems of international economic at both the commercial and monetary level. integration Students will be able to read and interpret the balance of payments of a country, evaluating the various types of balance, to explain the behaviour of commercial fiows in the light of the theories studied, to analyze fiows of financial assets according to interest-rate differentials and other elements, to study the forces that determine exchange rates and cause currency crises, to understand the reasons behind international economic integration such as the European Union, to evaluate the effects of national and international policies."

The completion of the European Single Market Programme (SMP) and the launch of "Euroland" are bold statements on the EU and its future. Within this economic process, the particular importance of the banking and financial services sectors is widely emphasized. This collection explores the strategic impact of the Single Market Programme and European Monetary Union on European banks and banking systems. The contributors examine 11 banking systems: Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Netherlands, Portugal, Spain, and the UK. Thoroughly up-to-date and with a common thematic overview of major trends in European banking systems, this book covers key strategic developments, structural changes, performance trends, and strategies.

Integration of the Central and Eastern European Countries (CEECs) into the European Union (EU) has become more a question of timing than a question whether it will or should be made. Since one of the objectives of the EU is to establish a system ensuring competition in the internal market is not distorted the question arises if the CEECs can be integrated into such a competitive system. Which rules of competition are appropriate to improve the economic integration of the CEECs and to promote at the same time the enduring transition process? The relationship between competition policy and East-West integration is the general theme of the contributions in this book. One central issue of this volume is the way of integrating the Central and East European countries into the EU and supporting their development by liberalizing trade with the EU. A second issue is the implementation of a market economy in the post-socialist countries of Eastern Europe and in particular the aspect of implementing competition rules at a time when markets are just emerging. The twelve selected papers are organized in three sections: -Competition Policy and Integration (part 1); -Competition Policy During Transition (part 2); -Competition, Trade Policy and East-West-Integration (part 3).

This text shows how the transformation of Britain's economic performance has been based on control of public expenditure, improving competitiveness, co-operative industrial relations and a large favourable contribution from inward investment. In contrast, Europe has suffered from rising unemployment, while misguided trade policies have obstructed the exploitation of the IT revolution. The book argues Europe's failures will undermine the EMU project, and Britain would do well to keep clear. The book concludes with chapters on the modern relevance of Locke on inflation, Ricardo on public debt and Condillac on the creation of competitive market economies.

Why did France, with its strong sense of national identity, want to give up the Franc for the Euro? This book, by a former British diplomat in Paris, draws on new archive evidence to explore France's drive for European Economic and Monetary Union, and how unresolved Franco-German tensions over its design led to crisis.