Intra-regional trade has been rising rapidly, especially after China's accession to the WTO in 2001. China's economy is expanding rapidly, and has already passed Japan in 2010 to become the world's second largest economy. It is clearly producing a huge impact on the world economy, and particularly on ASEAN countries. This is the appropriate time to take stock: what has APEC achieved so far? How is China's rapid growth shaping the course of economic integration and cooperation in the region? What is the future of APEC? This book is based on papers presented by scholars with expertise in the Asia Pacific region at a conference on "APEC at 20 and the Rise of China" organized by the APEC Centre of Lingnan University on 26 27 February 2010, and includes additional invited papers.

The Euro in the 21st Century clarifies the perception of the euro and empirically demonstrates that the euro has become a true common currency and the Eurozone a true optimal currency area, presenting, in turn, a model to imitate. In order to demonstrate this, this study analyzes the economic and monetary requirements and policies required to introduce a common currency as well as the theoretical underpinnings of both the European integration process and the historical economic, monetary, political, and social circumstances that favoured the creation of the economic and monetary union. Furthermore, this book sheds light on how the current economic and monetary circumstances are affecting the euro project through and analysis of three intertwined issues. It studies how the economic chaos and financial uproar, which has plagued the Eurozone and world economy since 2008, has affected the single-currency regime as well as the current image of the euro worldwide. Moreover it summarizes the lesson to be learnt from what can be considered 'the first euro crisis'. Finally, it thoroughly analyzes the behaviour of the US Federal Reserve, the European Central Bank, and the International Monetary Fund during this crisis. This book draws on and contributes to several bodies of literature within Political Economy, Economics, and International Relations and is particularly relevant at this time given that the current unfolding economic imbalances are causing some Eurozone Member States to rethink their economic and political views concerning the euro.

Murray C. Kemp is one of Australia's foremost economists. He has held positions across the world including London School of Economics, U.C. Berkeley, Columbia University, McGill University, MIT, and latterly Macquarie University. Kemp was a Member of Council for the Econometric Society and was a Distinguished Fellow of the Economics Society of Australia. He has served as President of the International Economics and Finance Society. In 1987 he was awarded the Humboldt Foundation Prize.

This book brings together several essays on the current state of the theory of international trade. As the book's title suggests, the essays are critical of several major components of the existing theory; thus, the Ricardian principle of comparative advantage, the ancient and widely accepted belief that international free trade is potentially beneficial for all countries, and the more recently developed normative analysis of international transfers (foreign aid, war indemnities) are shown to be seriously defective.

In the face of rapid development of the Korean economy, Korean trade laws and regulations have changed in many different ways over the last few decades. This comprehensive book introduces the laws and regulations affecting trade with Korea. Beginning with an introduction to the trading regime in Korea, and an overview of the basic trade laws and regulations, the expert contributors move on to cover specific topics in detail. They examine import/export measures (such as customs, rules on country of origin, import procedures, and export controls on strategic items) as well as trade remedies and trade in services. In addition, the book assesses the impact of competition laws on trade and concludes by considering the issues of foreign investment and FTAs. Written by Korean trade law scholars and practitioners with highly specialised knowledge, this authoritative book will be an invaluable guide for those needing practical knowledge of Korean trade law and systems, as well as researchers with an interest in the region or international trade with Korea. Contributors: D. Ahn, S.W. Chang, S.-H. Choi, W.-M. Choi, Y. Jung, J.B. Kim, J.-G. Kim, J. Lee, D.-Y. Park

This book provides a fresh, multidisciplinary, and exciting look at the making and remaking of pharmaceutical patents at the GATT/WTO, by utilising a Coxian political economy of continuity and change in the global political economy (GPE). Marcellin focuses on the role of the transnational drug industry in the making of the patent provisions in the original TRIPS Agreement and consequently, the role of the African Group at the WTO in the remaking of those patent provisions.

Singapore, a small Southeast Asian country with limited resources, transformed itself from a trading post to a successful, cosmopolitan nation with one of the most impressive growth rates in the world. Less well known, however, has been its role in regional and global trade negotiations. This book is a collection of sixteen essays written by a group of diplomats, policy-makers, and professors who became involved in international economic affairs, notably in GATT/WTO, regional and bilateral free trade negotiations. Here, they reveal their thoughts about the world economy and trading system, reflect on their experiences, and explain how they promoted national interests while advancing the global trade agenda. This book will appeal not only to professional diplomats, but to anyone interested in how international economic diplomacy works and Singapore's role and perspective as an open trading nation.

This book provides a critical analysis of merger control regimes in the former socialist countries with small market economies, looking at the unique challenges facing these economies. Questions will be asked as to what extent these countries have had to follow dictation from the EU and whether this implementation of EU merger control rules has been justified from the point of view of these countries' economic situations.

The book will analyse the merger control regimes in Estonia, Latvia and Lithuania, Slovenia and Slovakia. However, reference will be made to other small market economies of the EU including Cyprus, Ireland, Luxembourg and Malta in order to evaluate the particular difficulties the former socialist countries with small market economies have had in the implementation and further development of merger control rules.

I have used the materials contained in this book extensively in a major trade-related capacity, building a technical training program for trade officials and business people in six countries in Southeast Asia to great effect. The book fills an important gap in the existing literature on the subject and links international economic policy to practical hands on international business management. It underlines the importance of understanding the increasingly complex nature of international markets and offers useful options for mitigating their risk.' - Wayne Robinson, Estey Centre for Law and Economics in International Trade, CanadaThis MBA textbook provides a guide to the international institutions, both public and private, that exist to regulate and facilitate international business. William Kerr and Nicholas Perdikis explain how international business decision making should take into account the ideas and institutions that make up the international commercial environment, such as why trade theories are important to business; the ways in which governments can restrict trade; the role of international trade rules in reducing risk; the threats that anti-dumping and countervail actions pose; the pros and cons of operating multilaterally; the role of trading houses and the advantages of using private sector institutions to settle international business disputes. Key features include: - Economic theory presented in a business-friendly style; - Major arguments in international trade theory outlined and critically assessed; - An explanation of the role and rules of international organizations, such as the WTO - Barriers to trade and how they can affect competitiveness; - An exploration of the organizational choices (e.g. direct exporting, becoming a multinational, joint ventures, etc.) open to those participating in international business; and - Discussion of the international private sector arrangements which ensure payment, facilitate the movement of products and resolve disputes. This book will be essential reading for senior executives needing to familiarize themselves with the international commercial environment. It will also be an excellent resource for executive and international MBAs, as well as upper level international business students. Contents: Introduction 1. Why Study the Global Business Environment? 2. International Trade and Economic Theory 3. The Great Debate - Free Trade Versus Protectionism 4. The Search for Orderly system for Trade 5. Regional Trade Associations 6. Institutions of the Multilateral Trading System 7. Orderly Markets 8. How Countries Restrict Trade 9. Control of the Use of Trade Barriers 10. 'Fair' Trade 11. National Firms and Transnational Firms 12. Private Firms and State Trading Agencies 13. Production Firms and Trading Houses 14. Financing International Transactions 15. Moving Products Between Countries 16. The Settlement of International Disputes 17. Facing the Future 18. Issues for the International Trading System Exercise Glossary Index

Trade liberalization has had a major impact on the world economy. As nations continue to engage in preferential trade and with the launching of the first World Trade Organization multilateral round, the need to understand the consequences of trade liberalization has never been greater.Economic Integration and International Trade is a collection of the most important articles on international economic integration. The volume brings an innovative approach to the literature by using a methodology from the theory of tariffs and reform, rather than the conventional trade diversion and creation taxonomy, to select, organize, and unify contributions from almost fifty years of research. Topics include: the welfare consequences from integration, customs unions versus free trade areas, using international income transfers to facilitate trade liberalization, and the effects of integration on economic growth. Economic Integration and International Trade makes an important literature accessible to policymakers and business strategists, and to students, researchers, and teachers of economics, international business, political science and international relations.

The historic growth in world trade, large container ships and information technology have triggered profound changes in international trade. A few years ago, customs officers at the border were meticulously checking goods and documents before releasing a shipment to the trader. A business could be confident that a shipment that had cleared customs complied with all applicable regulations. Today, to reduce congestion and give the trade quick access to their goods, customs have introduced risk management principles and a large number of shipments clear customs automatically. Controls have moved from the border to the trader's premises and it is during site visits that customs officers check the business compliance records. Moving from frontier checks to audit based controls has transferred a high level of responsibility and risk to the trader. It is now the duty of the trader to identify and report any error or irregularity and to keep an impeccable audit trail from initial quotation to receipt of payment. For the business, failing to provide satisfactory compliance records will result in delayed shipments and serious disruption in the supply chain. This will in turn impact on financial performance indicators such as Days in Inventory, Days Sales Outstanding and of course Cash Flow. The business will also have to endure in depth customs audits during which customs officers will inspect each step of the audit trail disrupting day-to-day business operation. Errors uncovered during these audits will yield heavy financial penalties and a customs debt. Ultimately, customs risk will impact on shareholders value. Customs and finance reporting should receive the same level of attention. However, if all companies check carefully their tax returns, only a few check their import or export declarations with the same scrutiny. Managing customs risk is often seen as a cost centre but it is also a source of competitive advantage. A sound customs management can reduce or remov

This is a collection of papers dedicated to the memory of well-known WTO staffer Bijit Bora who died suddenly in 2006. The papers include applied analysis of questions of policy in international trade in fields related to Bora's interests, including foreign direct investment, trade in services, competition policy, and trade and development. It contains previously unpublished papers by Bora himself on the impact of the WTO.

The Politics of Global Supply Chains analyses the changing politics of power and distribution within contemporary global supply chains. Drawing on over 300 interviews with farmers, workers, activists, businesses and government officials in garment and coffee sector supply chains, the book shows how the increased involvement of non-state actors in supply chain governance is re-shaping established patterns of global political power, responsibility and accountability. These emerging supply chain governance systems are shown to be multi-layered and politically contested, as transnational governance schemes interact with traditional state governance arrangements in both complementary and conflicting ways. The book s analysis of changes to the relationship between state and non-state actors within transnational governance processes will be of particular interest to scholars and students of globalisation, global governance and regulation. The Politics of Global Supply Chains also suggests some practical ways by which the effectiveness and accountability of supply chain governance could be strengthened, which will interest both scholars and practitioners in fields of global business regulation and corporate social responsibility. Conclusions are relevant to the business and civil society actors who participate directly in non-state governance schemes, and to state regulators whose distinctive governance capacities could play a much greater role than at present in supporting transnational, non-state governance processes.

The Rise of Asia examines emerging trends and patterns of foreign trade and investment in Asia with a view to contributing to the policy debate on how development strategies should be adopted in response to challenges to economic globalization.

The existing body of knowledge in this subject area has predominantly been shaped by the experiences of the newly industrialized countries (NICs) in East Asia. This volume is inspired by the conviction that generalization from the NIC experience is hazardous because the on-going process of economic globalization over the past two decades has dramatically transformed the international context of national development policy making. Moreover, as 'embracing market', albeit at varying degree and rapidly, has now become an Asia-wide phenomenon, it is vital to look at the issues from a broader relational perspective, paying attention to opportunities for intra-regional division of labour within the wider context of global economic integration.

This book will be of interest to students and scholars with an interest in Asian studies, economics, political economy and globalization.

The European Union has launched an important debate on the future of the EU budget from 2013. This discussion is to cover all aspects of EU revenue and expenditure, including that on the Common Agricultural Policy (CAP). The CAP has been radically transformed in recent years, but the issue of its reform, including its goals, its effectiveness in reaching them and the question of division of responsibility and financing between the EU and member states, is once again at the centre of attention. This collection features well-known experts in the field and aims to contribute to the debate on the present state and future prospects of the CAP and other EU policies. The topics covered range from the EU budget to food safety, rural development, sustainable food consumption, and the influence of international trade negotiations. Many of the ideas presented here are original and controversial and intended to fuel the debate on this important topic. For instance, there are various proposals for the EU budget, the division of responsibilities between the EU and its member states, and the shape of the CAP post-2013.

This book considers the issue of biodiversity in developing countries in relation to intellectual-property rights, community rights and human rights. Drawing together a number of case studies of developing countries rich in biological and genetic resources including India, South Africa and Brazil, the book examines the access to PGRs and their utilizations in the contexts of scientific and commercial oriented activities pursued both in the source and user countries. Exploring how community rights are protected in national biodiversity-related regulations and some international legal instruments, Marcelin Tonye Mahop also discusses the relationship between community rights and human rights in the context of biodiversity. The book looks at the issue of bio-piracy, asking whether this phenomenon should only be seen as a North South clash, whereby biodiversity rich countries of the Southern Hemisphere blame developed countries and their actors as its principal perpetrators. While recognizing that developing countries' actors play a role in this bio-piracy phenomenon, the book goes on to suggest alternative measures for the legal protection of community rights at the national level with the possibility of national and international enforceability.

Essential reading for students and scholars of intellectual-property rights, biodiversity regulations and human rights, this book will also be of great value to researchers and members of professional organizations working in these subject areas. National and regional negotiators in the international processes dealing with the issues covered in the book will find it a useful tool that can help them to understand various facets of these processes.

This book provides an excellent resource for understanding the forces in international trade liberalization over two centuries that have brought us to this point, where the successes, setbacks and the countervailing forces now vie for the public's mind and support: the outcome of which will determine the future progress of increased globalization, or lack thereof. The book also examines whether trade policy has indeed promoted exports in the vast number of countries which increasingly look to trade agreements to gain a competitive edge, and to what extent export-driven growth has been an important force in advancing economic development around the world. In doing so, the book examines one of the most controversial issues in economic development: the promotion and significance of export-led growth.

The book provides theoretical and empirical evidence on how world trade evolves, how trade affects resource allocation, how trade competition affects productivity, how China shock affects world trade and how trade affects large and small countries. It is a useful reference which focuses on new approaches to international trade by looking into country-specific as well as firm-product level-specific cases. "The Open Access version of this book, available at http://www.taylorfrancis.com/books/10.4324/9781351061544, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license."

This book examines the strategic and economic logic behind the Bangladesh-China-India-Myanmar (BCIM) Regional Cooperation. According to estimates, BCIM covers approximately 9 percent of the world's mass and 40 percent of the world's population spanning across four countries, constituting the confluence of East, Southeast and South Asia. It contributes about 13 percent to world trade but ironically only 5 percent to inter-regional trade. This volume compares the various approaches to cooperation - trade-led vs project-led, geo-political vs geo-strategic, Sino-centric vs India-led. The chapters explore the complex interplay of geo-economics and geo-politics associated with BCIM sub-regional cooperation in general, and the BCIM Economic Corridor (BCIM-EC) in particular. It points to the current challenges that impede globalisation and economic growth, and critically reviews implications for the stakeholders, institutional frameworks and the spatial impact of the Corridor, especially on the underdeveloped regions. The book discusses the geo-political, geo-economic and geo-strategic advantages that will accrue to the member countries once the sub-regional cooperation becomes fully functional. It advocates the adoption of best practices from similar sub-regional groupings across the globe. This book will be of great interest to scholars and researchers of politics and international relations, geo-politics, strategic studies, sub-regional cooperation, South Asian studies, India-China relations, foreign trade and economics, besides those dealing with foreign policy and development cooperation. It will especially benefit policymakers, development agencies and strategic think tanks.

What affects the supply of oil? How important is the weather in determining grain prices? Why has the price of copper skyrocketed? This unique book analyses the economics of key commodity groups, including energy, agriculture and metals. It examines the supply/demand fundamentals of several major and minor commodities, physical characteristics, production and consumption patterns, trade flows and pricing mechanisms. It also explains the main tools used to hedge price risk, such as futures, options and swaps. This second edition has been fully revised and restructured, and contains four new chapters, including oil refining, electricity and price risk management for energy, metals and agricultural commodities This book is an indispensable reference text for students, academics and those working in the commodity business.

This book brings together the latest research in the areas of market microstructure and high-frequency finance along with new econometric methods to address critical practical issues in these areas of research. Thirteen chapters, each of which makes a valuable and significant contribution to the existing literature have been brought together, spanning a wide range of topics including information asymmetry and the information content in limit order books, high-frequency return distribution models, multivariate volatility forecasting, analysis of individual trading behaviour, the analysis of liquidity, price discovery across markets, market microstructure models and the information content of order flow. These issues are central both to the rapidly expanding practice of high frequency trading in financial markets and to the further development of the academic literature in this area. The volume will therefore be of immediate interest to practitioners and academics. This book was originally published as a special issue of European Journal of Finance.

The link between trade and the environment has focused on two broad issues: how changing trade regimes have affected the environment and how stricter environmental regulations have affected trade. The answers are of particular importance to developing and transition countries where the relationship between trade and the environment has a major impact. This unique book, based on eleven case studies undertaken by research institutes in developing countries with the support of UNCTAD and UNDP, provides detailed empirical evidence from Brazil, China, Colombia, Costa Rica, India, Malaysia, The Philippines, Poland, Thailand, Turkey and Zimbabwe. The central questions addressed are: * has the international programme of trade liberalization affected the environment negatively? * are stricter environmental regulations in both developed and developing countries having an effect on exports and imports and how can these effects be addressed? * what impacts, if any, result from differences in environmental standards between richer and poorer countries? * what impacts have multilateral environmental agreements had on trade flows between developed and developing countries * what impacts are firms' voluntary measures to protect the environment having on the export flows from developing and transition countries? The book provides a wealth of information and shows a wide difference of outcomes from country to country, allowing the authors to draw an interesting set of conclusions. It will be useful for students and researchers in environmental and international economics and will be essential reading for policymakers in government and non-governmental organizations.

Major companies that once controlled the world's oil resources, refineries and distribution systems are now having to share the market with national oil companies, independent producers and local distributors, while developing nations are extending ever more attractive terms for exploration, development and production. The result is an increase in the overall world oil supply and an intensification of competition in the industry. Such challenges force oil producers to search for new technologies in order to remain competitive in the world market. Strategic positioning plays an important role, determining whether a producer can benefit from the latest technologies and is able to dispose of its oil in the international market, or profit from the oil-price fluctuations in the commodity market. This study considers strategic positioning and the options available to countries and companies alike in terms of their upstream and downstream industries.

Published in 1997, this book is about the link between trade and the environment which has become a very important national issue for all countries, in particular, those countries which have been undergoing lengthy periods of trade and investment liberalization programmes recently. This has also become an international issue of tremendous current interest given its implications on the global environment and trading system. International organizations such as WTO, OECD, the UN and regional trading arrangements such as NAFTA, EEC and APEC have been actively involved in the policy debate. Despite the critical importance of trade-environment issues, less is known about the linkages between the two. This book presents a New Zealand perspective as a case-study of global interest for two reasons: firstly, many countries, both developed and developing, are taking the New Zealand economic reforms as a model for restructuring their economies. Secondly, New Zealand is going to become a member of APEC (Asia Pacific Economic Co-operation), together with 17 other countries in the area by 2010 (developed countries) and 2020 (developing countries). The book is expected to contribute significantly to the current debate and to assist in the process of reconciliation of trade and environmental policies for sustainable development within the context of APEC integration.

This book examines the formation, nature and effect of the arbitrators' contract, addressing topics such as the appointment, challenge, removal and duties and rights of arbitrators, disputing parties and arbitration institutions. The arguments made in the book are based on a semi-autonomous theory of the juridical nature of international arbitration and a contractual theory of the legal nature of these relationships. From these premises, the book analyses the formation of the arbitrator's contract in both ad hoc and institutional references. It also examines the institution's contract with the disputing parties and its effect on the arbitrator's contract under institutional references. The book draws from national arbitration laws and institutional rules in various jurisdictions to give a global view of the issues examined in it. The arbitrator's contract is analysed from a global perspective of arbitral law and practice with insights from various jurisdictions in Africa, Asia, Europe, North and South America.

The primary focus of the book is an analysis of the formation of the arbitrator's contract and the terms of this contract and the institution's contract. The primary question of the consequences (if any) of the breaches of the terms of these contracts and its impact on the exclusion or limitation of liability of arbitrators and institutions is also analysed with the conclusion that since these transactions are contractual and the terms can be categorised as in any normal contract, then normal contractual remedies can be applied to the breaches of these terms.

International Commercial Arbitration and the Arbitrator's Contract will be of great value to arbitration practitioners and researchers in arbitration. It will also be very useful to students of arbitration on the topics of arbitrators and arbitration institution.

Convergenomics is about the megatrends that are shaping how people behave and organizations work. In this insightful analysis, Sang Lee and David Olson describe how globalization, digitization, changing demographics, changing industry mix, deregulation and privatization, commoditization of processes, new value chains, emerging new economies, deteriorating environment, and cultural conflicts have led to what they define as a convergence revolution. Lee and Olson discuss this convergence revolution from the perspectives of technology, industry, knowledge, open-source networking and bio-artificial convergence, and they explain how human systems are transformed by what they have named convergenomics. Understanding convergenomics can lead to innovative strategic approaches and, the authors contend, more agile businesses are already employing these approaches to become and remain competitive and to generate greater value in a world radically changed by e-commerce. Business leaders and 'students' of strategy at all levels will learn from this book how revolutionary developments can be embraced rather than feared, and how technology that is potentially frightening in its complexity can be harnessed and used to enable productive collaboration and gain competitive advantage.