The rising importance of China and its impact on the world economy has attracted massive interest worldwide. This book examines a wide range of issues related to China and its relationship with the world economy, focusing on its succesful development experiences and how its rise may affect the rest of the world in the coming decades.

This volume addresses various aspects of the microstructure of world trading markets and provides scientific evidence on the functioning of specific foreign markets. The study of market microstructure has previously focused on the U.S. markets, but with the rapid expansion in foreign markets there is a real need to understand the nature and functioning of foreign trading markets.

This volume centres on the issues surrounding the likely economic impact that EU membership has on joining nations, with the main emphasis on new issues and methods. Given the significantly greater level of economic integration that now exists in the EU, accession brings up a host of issues that either did not arise or were of secondary importance during earlier enlargement waves. For instance, EU membership now entails eventual membership in the monetary union. This raises a series of new issues such as interest rate convergence, exchange rate stability and the loss of sovereignty over monetary policy. Additionally, these macro issues interact with micro issues such as export performance, capital formation and foreign direct investment (FDI). Migration, unemployment and foreign direct investment are further issues that acquire a magnified importance for the prospective entrants. All of these questions are treated in the contributions in Economic Impact of EU Membership on Entrants: New Methods and Issues that should be of particular interest to academics as well as decisionmakers in prospective member countries. Richard E. Baldwin worked for the Institute of International Studies. He was a Senior Staff Economist for the President's Council of Economic Advisors in the Bush Administration (1990-1991) and has advised the European Commission on several integration issues. He has also worked in the past for the European Commission, EFTA, the OECD, the FCO, the World Bank, USAID and UNCTAD. From 1991 to 2001 he was Co-Director of the International Trade Programme of the Centre for Economic Policy Research. His areas of specialisations are international trade, regional integration, andeconomic geography. Before coming to Geneva in May 1991, he was a professor at Columbia University Business School, having done his PhD in economics at MIT, an MSc at LSE, and a first degree at the University of Wisconsin-Madison. Aymo Brunetti is Head of Economic Analysis in the State Secretariat of Economic Affairs of the Federal Department of Economic Affairs, Switzerland. In addition, he is Professor of Economics at the University of Basel and teaches at the University of Bern, Switzerland.

The focus of this book is the ongoing Doha Round of multilateral trade negotiations, which is endeavoring to further liberalize trade in goods and services. Trade theory supports the view that elimination of trade barriers benefits both importing and exporting economies, and therefore is a win-win game for all the one hundred and forty-eight members of the World Trade Organization. A successful Doha Round is sure to have far-reaching ramifications for the global economy.

Although Latin America had a substantial merchant fleet by the 1950s, at the end of the century most of the major shipping companies have disappeared from the continent. Continuing to grow through protectionist efforts during the 1960s and 1970s, the industry began to decline when container technology, requiring large capital investments, shifted competition to access capital. This book shows how technology undermined and finally shattered the nationalist efforts to create a significant Latin American merchant shipping industry. Written in a clear and concise style, it provides the first authoritative survey of Latin American shipping during the second half of the century. The book opens with a discussion of cargo preference—a form of protectionism—in Chile and shows how Latin American merchant fleets expanded under cargo preference. Most countries witnessed a dramatic expansion in their national fleets. In the 1970s, the impact of containers, a new technology, began to be felt. As the book shows, the large capital outlays needed to adopt containers undermined the foundations of Latin American shipping companies, and most of the merchant shipping companies in the region gradually collapsed. The book also examines the non-commercial role of merchant shipping, particularly in international clashes such as the Cuban Revolution.

"A clear, well-written, and comprehensive statement of a number of salient issues involving North American free trade--summarized and referenced to more detailed source material for the interested reader."
--Clark W. Reynolds, Stanford University

"A first-rate piece of work . . . Its great value is that it will be used for some time as a reference document by experts who will want to delve more deeply into the specifics of the many technical issues covered."
--Sidney Weintraub, University of Texas, Austin

Negotiations toward a North American Free Trade Area (NAFTA) began in June 1991. This book assesses both the substances and the form of a prospective NAFTA. Part One examines the objectives of the United States, Mexico, and Canada in the NAFTA negotiations; the potential shape and contents of the agreement (including dispute-settlement and institutional issues); its possible extension to third countries; and its implications for multilateral trade negotiations and the GATT.

Part Two examines the broad economic implications of a NAFTA for trade, investment, and employment; labor and environmental concerns that arise because of Mexico's lower level of economic development; and the cross-sectional issues of rules of origin and intellectual property.

Part Three analyzes how the energy, auto, steel, textile, agricultural, and financial services sectors of the Mexican economy could be affected by a NAFTA, and the implications for U.S. and Canadian industries. Part Four summarizes the major conclusions and policy recommendations.

s countries around the globe were rediscovering political freedom, speakers at the Federal Reserve Bank of Dallas' fourth annual South A west Conference called for greater economic freedom-free trade in markets free of artificial barriers and misguided regulations, free trade through out a continent (perhaps a hemisphere) that has discarded unnecessary restraints and is poised to emerge as a preeminent competitive force in the 21st century. The Dallas Fed conference, titled "Beyond the Border: Expanding Trade for Prosperity" and held October 24-25, 1992, brought together several hundred participants interested in the possibility of free trade throughout North America and beyond. "How far south can we go?" conference speaker Javier Murcio asked. His answer: "As far as economic reform takes hold. " Around the globe, countries were becoming engulfed in what Henry an "absolute prairie fIre of democracy. " And one of the fIrst Cisneros called places many nations were attempting to exercise this new-found political freedom was in the marketplace. As Richard Fisher put it: " . . . market capitalism is a universally accepted dogma. " "This world . . . is becoming one interdependent marketplace. State and national boundaries have become meaningless. No longer are there such things as domestic or foreign fIrms. Decisionmakers can be anywhere they wish to be because computerization and telecommunications allow people to be every where at once," Fisher said."

Service activities such as banking, insurance, telecommunications, business auditing, distribution, trading, and other services have been at the forefront of the transformation process in East Central Europe and the former Soviet Union. These reforms, though far from complete, are now sufficiently advanced to draw lessons and to identify strategic options for foreign service firms expanding in the region. In this volume, leading analysts and practitioners offer an appraisal of the service markets and the challenges related to foreign entry into the services sector in Central and Eastern Europe during the "second wave" of transformation. What is the emerging pattern of change? What is the outlook for promising business in the area of services? Which entry strategies have proven particularly successful? How do the leading service providers from the West deal with the challenges confronting them in service markets of the region?

This collective volume used case studies, field research and industry studies to consider strategic options for foreign service firms in East Central and Eastern Europe for the late nineties and beyond.

Jonathan Chu explores individual economic and legal behaviors, connecting them to adjustments in trade relations with Europe and Asia, the rise in debt litigation in Western Massachusetts, deflation and monetary illiquidity, and the Bank of North America.

The institutional and legal status of the WTO, with its integrated dispute settlement system, provides a framework for certainty, security and stability for trade as well as a coherent system to protect intellectual property rights. In all member countries and their respective enterprises, WTO regulations need to be considered when designing and implementing trade-related strategies for business operations in the integrated global market.

This book aims at giving upper-level undergraduates and graduate students a comprehensive understanding of the public regulations related to international trade within the WTO mechanism and equip them, as potential policy makers and future practitioners in international trade, with the practical skills to interpret and apply the multilateral trade regulations as outlined by the WTO."

High technology research laboratories are under constant pressure from the governments that support them to generate secondary utilities such as technology transfer and spin-offs. As buyers, such organisations are often used by governments to stimulate innovation by their suppliers, under tight budgetary constraints and within the rigid institutional frameworks applied to public research organisations. This book addresses the design of efficient buyer-supplier contracts within the institutional boundaries faced by the buyer and focuses in particular on vertical buyer-supplier linkages as a source of supplier core competencies in a cost- and technology-driven environment.
Based on a study of manufacturing contracts commissioned by the European Laboratory for Particle Physics (CERN), the book aims to answer two questions. First, what is the most efficient governance structure for organising buyer-supplier relationships, given the presence of specific institutional boundaries, high technological complexity and environmental uncertainty? Secondly, irrespective of the presence of such an efficient governance structure, what type of impact could technology-oriented government contracts have on supplier core competencies?

This book is a collection of timely and detailed articles on the North American Free Trade Agreement written by experts in the field who examine the Canadian, US and Mexican points of view. The scholars provide an overview as well as their insights of how NAFTA impacts on macroeconomic issues, national perspectives and bilateral issues, cross-border and industry-specific issues and the environment. This book serves as an excellent primary source of information on many of the significant aspects of NAFTA.

Export embargoes are imposed in the belief that enough economic damage will be inflicted on the target country to make it change course on some key political point. However, export embargoes also have economic consequences for producers in the country which imposes the embargo and for producers in third party countries. This book, first published in 1987, analyses the economic effects of export embargoes. It presents much general analysis on the topic and goes on, making use of a model, to examine in detail the 1980 US embargo on grain sales to the Soviet Union. Among the book's findings is the importance of expectations concerning how long the embargo will last in determining both the success of the embargo and the impact on produces in the country imposing the embargo.

This book demonstrates how human rights instruments and values have brought different movements together in the struggle against free trade under the banners of state duty and law enforcement with their underlying principles of equality and human dignity. Special emphasis is placed on how subjectivities influence identification with certain values and legal or political strategies. Furthermore, by focusing on the understanding of human rights by social agents the book also shows that specific human rights have more political potential for certain types of subjects in the struggle against free trade than others, such as the right to development, the rights of women and the right to food. This analysis is conducted with a specifically Latin American theorization of human rights that challenges both Eurocentric scholarly works on the issue and the arguments of European activists directed at the allegedly Western authorship of human rights discourses.

Emerging trade blocs in North America and the European Community are altering the global economy and Japan's place in it. This book asks: will trade blocs be trade diverting or create new opportunities for Japanese trade and investment?; will a new Asian-Pacific trade bloc emerge in response to this challenge?; and how will the collapse of the Soviet empire and the emergence of China as an economic power affect Japan's approach to trade blocs in its two most lucrative markets?

The international fragmentation of economic activities - from research and design to production and marketing - described through the lens of the global value chain (GVC) approach impacts the structure and performance of small and medium-sized enterprises (SMEs) agglomerated in economic clusters. The consolidation of GVCs ruled by global lead firms and the recession of 2008-09 exacerbated the pressures on cluster actors that based their competitive advantage on local systems, spurring an increasing heterogeneity, both across and within clusters, that is still overlooked in the literature. Drawing on detailed studies of different industries and countries, Local Clusters in Global Value Chains shows the co-evolutionary trajectories of clusters and GVCs, and the role of firms and their strategies in organizing manufacturing and innovation activities in the context of ongoing technological shifts. The book explores the tension between place-based variables and global drivers of change, and the possibility for territories containing such clusters to prosper in the new global scenario. By adopting insights from the GVC framework and management studies, the book discusses how the internationalization strategies of firms create opportunities as well as constraints for adaptive upgrading in clusters. This book is of interest to both researchers and policy-makers who are interested in the dynamic sources of competitive advantage in the global economy.

Increasingly, consumers in North America and Europe see their purchasing as a way to express to the commercial world their concerns about trade justice, the environment, and similar issues. This ethical consumption has attracted growing attention in the press and among academics. Extending beyond the growing body of scholarly work on the topic in several ways, this volume focuses primarily on consumers rather than producers and commodity chains. It presents cases from a variety of European countries and is concerned with a wide range of objects and types of ethical consumption, not simply the usual tropical foodstuffs, trade justice, and the system of fair trade. Contributors situate ethical consumption within different contexts, from common Western assumptions about economy and society, to the operation of ethical-consumption commerce, to the ways that people's ethical consumption can affect and be affected by their social situation. By locating consumers and their practices in the social and economic contexts in which they exist and that their ethical consumption affects, this volume presents a compelling interrogation of the rhetoric and assumptions of ethical consumption.

In March 1998 professional colleagues and students of T.N. Srinivasan joined together at the Festschrift Conference at Yale to honor his work. The book contains nineteen of the contributions which were presented, reflecting the four closely related dimensions of trade and development.

Part I deals with the various dimensions of the issue of growth with particular emphasis on technology choice as well as saving and fertility behavior in Ramsey-type models. Part II moves into the more applied issues of International trade, including the impact of North-South trade on Northern wages, the reasons for the failure of pegged exchange rates in the South, as well as the pros and cons of regional vs. multilateral trading arrangements. Part III presents a variety of theoretical and applied approaches to analyze Indian planning and development experience. The final section, Part IV, addresses the general topic of market failures and economic structure.

This book contains papers by an array of eminent economists and contains a good blend of theory and applied work. Professional economists, policy makers in developing and donor countries and personnel of international organizations will find this a useful tool.

An inside view of the forces which shaped SEPA and the PSD written from the unique perspective of someone closely involved throughout the process. It uncovers the strategic, legal and practical implications of the full harmonization agenda and provides an assessment of where these initiatives stand today, including key lessons learned.

Companies succeed in international markets because of their competitive competence which, in large measure, is based on the level of knowledge and skill they bring to their international marketing activities. Public organizations in the export development and promotion field play a facilitating role in this process. Their mandate is to enhance the know-how of exporters and thereby assist foreign market entry, development and expansion. The interaction between these public organizations and the companies they exist to serve is the subject of this book. The book is wide-ranging and up-to-date. The work ofresearchers from 11 countries (in both the developed and developing world) is represented which means that a variety of perspectives are contained in the book. These contributions present the latest thinking on this important matter. The authors of each chapter are objective in their approach. Consequently, considerable attention is paid to the performance of the public organization support programs and activities. Each researcher comes to his/her own conclusions based on the individual work undertaken, but readers will fmd that certain common themes run through many ofthe chapters. The key objectives of the book are: 1. To provide academic researchers with a current and comprehensive treatment of the role played by public organizations in export development and promotion. 2. To expose professional readers (officials in relevant public organizations, consultants in the private sector or in international agencies) to a view of their field of interest that might be broader and more critical than normal.

Professor Fischer presents a comprehensive overview of global trade at the start of a new century, from a national, regional, and international viewpoint. He looks closely at the four dominant and competing economic systems--the United States, the European Union, Japan, and China--and argues that the traditional we-win/you-lose national trade paradigm has been replaced by one that is more collaborative, one that is leaning toward de facto world governance. He compares foreigners' attitudes toward trade and markets with our own, using four economic models that typify world trade today. He examines the interface between national, regional, and international trading systems and between business and government, then at the prospect of global trade management in different trade sectors under the GATT/WTO and other organizations. The result is a provocative discussion of global trade today.

Professor Fischer makes it clear that the United States needs allies. Though its influence in the world trade arena will continue, America's hegemony has ended. The European Union is America's most obvious ally, but it has many problems and ambitions of its own. The North American Free Trade Agreement has solidified the North American market but it may isolate and lose South America, while Japan, China, Russia, and others are left to develop alliances of their own. All these factors raise important global questions, among them: Can American capitalism prevail? Should the United States proceed unilaterally, as it has so often? Or are regional and multinational arrangements preferable? If there is further globalization, as seems inevitable, and if American influence is on the wane, what group or organization will lead? To explore these questions and provide the beginnings of answers, Professor Fischer uses his four competing economic systems and handicaps the process country by country, sector by sector, with particular attention to transatlantic relations.

Publisher description: The author examines the United States and European Union's use of anti-dumping laws to demonstrate that discriminatory treatment persists even a decade after the end of the Cold War. She argues that lingering Cold War beliefs about the trade threat posed by Communist countries continue to affect the method of implementing these trade remedy laws.

Protectionism is a major concern in the international trading community. The question that arises is how the emergence of protectionism can be prevented and whether regional trade arrangements are a suitable mechanism to enforce liberal trade policies. This book examines these issues, concluding that the success of regional trading arrangements in enforcing good trade policies depends on the quality of the regional agreement and its implementation--simple free trade area is unlikely to be sustainable in the long-run without firm commitments of members to deeper integration.

This book answers the recently topical questions of how China's processed trade affects the trade of Southeast Asia. What is Southeast Asia's role in Factory Asia, the region's complex of cross-border supply chains? What is Southeast Asia's involvement in building or joining production networks in the region? And, most important, how can Southeast Asia increase the value added of its products and improve its competitiveness? This book provides rigorous analysis of how trade policy affects value added, highly disaggregated at the firm and product level, of the six Southeast Asian countries - Indonesia, Malaysia, the Philippines, Singapore and Viet Nam - and combines this with thorough examinations of their trade, industrial and labour policies.

Analysing the experience of developing countries in recent years and the deadlock in trade negotiation in WTO, the author argues that the theories and practices of trade and industrial policies are surrounded by a number of fallacies: that universal and across-the-board trade liberalisation is to the benefit of all developing countries, irrespective of their level of development; that the Invisible Hand of free market alone is conducive to industrialisation, that the infant industry argument is against export expansion; that developed countries industrialised without government intervention; that WTO rules are conducive to development.