First published in 1903, this collects together speeches given by H.H. Asquith to refute the charge that those who defended Free Trade at the turn of the century were ignorant or indifferent to actual and potential economic forces, and also clung to obsolete conceptions of the Empire. The author intends to vindicate Britain's contemporaneous fiscal system, not as academic dogma, but as a concrete and living financial policy. In pursuit of this he undertakes to expose what he argues are the "blunders of fact and logic" of the new protectionist campaign, illustrated with extracts from the speeches of the Chancellor of the Exchequer Austen Chamberlain - whose advocacy of protectionism provides the focus for the collected speeches.

World-renowned economist Ronald W. Jones gets to the essence of international trade theory in this collection of articles that span over half a century of his published work. As the global economy has grown, so too has the need for a deeper rooted understanding of trade - and its assorted benefits. With clear, simplifying prose, Jones elucidates the Ricardian, Heckscher-Ohlin, and Specific-Factors models of general equilibrium theory. Jones' pioneering work anticipates, among other changes in our time, the creation of far-flung supply chains brought about by the falling costs of service links. The theoretical, technical, and historical insights in the text are peppered with personal notes that capture modern intellectual development in the field, providing a bedrock foundation in international trade for students and practitioners alike.

Regulatory Counter-Terrorism explores an emerging terrain in which the global governance of terrorism is expanding. This terrain is that of proactive regulatory governance - the management of the day-to-day activities of individuals and entities in order to pre-emptively minimize vulnerability to terrorism. Overshadowed by the more publicized dimensions of military and criminal justice responses to terrorism, regulatory counter-terrorism has grown in size and impact without stirring up as much academic debate. Through a critical assessment of international regulatory counter-terrorism in three areas - financial services, the control of arms and dangerous materials, and the cross-border movement of persons and goods - this volume identifies a dynamic trend. This is the refashioning of international rule making into a flexible and experimental exercise. This volume shows how this transformation is affecting societies across the world in new ways and in the process unravelling settled understandings of international law. Furthermore, through an in-depth analysis of the working processes of UN counter-terrorism bodies and the Financial Action Task Force, this book illustrates that the monitoring of the global counter-terrorism regime is, contrary to accepted understanding, in the main collaborative and managerial, and coercive only peripherally. Dynamic rule making and soft monitoring complement each other, but this is a reason for concern: the softening of international monitoring encourages regulatory adventurism by states in tackling terrorism, while the element of self-correction in dynamic rule making helps silence the calls for institutionalized mechanisms of accountability. This volume will be of great interest to students and scholars of counter-terrorism, security studies, global governance, and international law.

Dimensions of Trade Policy collects the author's significant works on international trade policy over almost 30 years of publishing. The articles cover an eclectic range of topics but are grouped into three main areas of concentration - local content protection, the economics of preferential trading areas and the relationship between trade and competition policies - and the book also includes some sui generis topics, such as 'fair trade' and 'buy local' schemes. An introduction ties the chapters together and indicates their relevance to contemporary matters in trade policy.

This volume collects theoretical papers on the labor market effects of international trade that Udo Kreickemeier has published, together with different co-authors, over the past decade. Many contributions contained in this volume feature labor market imperfections that give rise to involuntary unemployment, and in those contributions, the question of how trade affects aggregate employment typically takes center stage in the analysis. Another recurring theme in many papers is the link between international trade and the income distribution within countries. The channels explored in the different papers include union wage premia, exporter wage premia due to firm-level rent sharing, and ability premia to entrepreneurs that are able to capitalize on their high productivity in global markets.

The second half of the twentieth century saw the emergence of international economic law as a major force in the international legal system. This force has been severely tested by the economic crisis of 2008. Unable to prevent the crisis, the existing legal mechanisms have struggled to react against its direst consequences. This book brings together leading experts to analyse the main causes of the crisis and the role that international economic law has played in trying to prevent it, on the one hand, and worsening it, on the other. The work highlights the reaction and examines the tools that have been created by the international legal field to implement international cooperation in an effort to help put an end to the crisis and avoid similar events in the future. The volume brings together eminent legal academics and economists to examine key issues from the perspectives of trade law, financial law, and investment law with the collective aim of reform of international economic governance.

First published in 1978. This book provides a simple, systematic, yet rigorous treatment of the key aspects of the pure theory of international trade and distortions. The opening chapter presents the standard two-factor, two-commodity barter model of international trade and a comprehensive treatment of the important properties and relationships. The rest of the book consists of four sections: parts One and Two are devoted to an analysis of factor market imperfections, and Parts Three and Four consider the trade-theoretical consequences of product market imperfections. A concluding chapter presents some generalised theorems. This book would be of interest to students of economics.

China's recent economic reforms have opened its economy to the world. This policy, however, is not new: in the late nineteenth century, the United States put forward the Open Door Policy as a counter to European exclusive 'spheres of influence' in China. This book, based on extensive original archival research, examines and re-evaluates China's Open Door Policy. It considers the policy from its inception in 1899 right through to the post-1978 reforms. It relates these changes to the various shifts in China's international relations, discusses how decades of foreign invasion, civil war and revolution followed the destruction of the policy in the 1920s, and considers how the policy, when applied in Taiwan after 1949, and by Deng Xiaoping in mainland China after 1978, was instrumental in bringing about, respectively, Taiwan's 'economic miracle' and mainland China's recent economic boom. The book argues that, although the policy was characterised as United States 'economic imperialism' during the Cold War, in reality it helped China retain its sovereignty and territorial integrity.

In a deeply iniquitous world, where the gains from trade are distributed unevenly and where trade rules often militate against progressive social values, human health, and sustainable development, NGOs are widely touted as our best hope for redressing these conditions. As a critical voice of the poor and marginalized, many are engaged in a global struggle for democratic norms and social justice. Yet the potential for NGOs to bring about meaningful change is limited. This book examines whether improvements in participatory opportunities for progressive NGOs results in substantive and normative policy change in one of the major trading powers, the European Union. Hannah advances a constructivist account of the role of NGOs in the EU's trade policymaking process. She argues that NGOs have been instrumental in providing education, raising awareness, and giving a voice to broader societal concerns about proposed trade deals, both when they take advantage of formal participatory opportunities and when they protest from the streets and in the media. However, the book also highlights how NGO inputs are mediated by the social structure of global trade governance. Epistemes-the background knowledge, ideological and normative beliefs, and shared assumptions about how the world works-determine who has a voice in global trade governance. Showing how NGOs succeed only when their advocacy conforms broadly to the dominant episteme, this book will be of value to scholars and students with an interest in NGOs and international trade negotiations. It will also be of interest to policymakers, national trade negotiators, government departments, and the trade policy community.

Since the days of Adam Smith, Mercantilism has been a hotly debated issue. Condemned at the end of the 18th century as a "false" system of economic thinking and political practice, it has returned paradoxically to the forefront in regard to issues such as the creation of economic growth in developing countries. This concept is often used in order to depict economic thinking and economic policy in early modern Europe; its meaning and content has been highly debated for over two hundred years. Following on from his 1994 volume Mercantilism - The Shaping of an Economic Language, this new book from Lars Magnusson presents a more synthetic interpretation of Mercantilism not only as a theoretical system, but also as a system of political economy. This book incorporates samples of material from the 1994 publication alongside new material, ordered in a new set of chapters and up-date discussions on mercantilism up to the present day. Tracing the development of a particular political economy of Mercantilism in a period of nascent state making in Western and Continental Europe from the 16th to the 18th century, the book describes how European rulers regarded foreign trade and industrialisation as a means to achieve power and influence amidst international competition over trades and markets. Returning to debates concerning whether Mercantilism was a system of power or of wealth, Magnusson argues that it is in fact was both, and that contemporaries almost without exception saw these goals as interconnected. He also emphasises that Mercantilism was an all-European issue in a time of trade wars and the struggle for international power and recognition. In examining these issues, this book offers an unrivalled modern synthesis of Mercantilist ideas and practices.

This book analyses whether, and how, equity and equitable principles can be employed as juridical tools in the legal reasoning of judges and lawyers in World Trade Organization (WTO) disputes where there is interaction between norms derived from the multilateral trade regime and other international legal regimes. Bringing the literature on equity and equitable principles in international law up to date this book tackles several legal problems which have emerged in WTO dispute settlement practice as well as engaging with the concept of the fragmentation of international law. The book provides an original argument about the role and significance of equity and equitable principles in the debate over fragmentation by providing a coherent methodology for addressing conflicts and overlaps between WTO and non-WTO norms in the context of Dispute Settlement Body proceedings.

The international financial crisis in 2008 marked the beginning of important changes in the international economic system. The emerging market economies are increasingly becoming a driving force for the global economic growth. Under such circumstances, the Sino-Latin American economic and trade cooperation has entered a new period of historical opportunity. Based on the economic development trend and the adjustment of policy, this book explores the prospect for Sino-Latin American economic and trade cooperation. It tracks the development path for this cooperation in the next 10 years by analyzing resource endowment, industrial structure, economic system, development pattern, basic economic policy, economic environment, economic and trade relations between China and Latin America .

The onslaught of globalization has brought with it sweeping changes to the foreign economic policy of the last 50 years. As the international political economy of nations and regions continues to be drawn and redrawn, this book traces the goals and instruments of foreign economic policy during this period, providing insight into the long-run trends and developing new theoretical generalizations. The book charts the journey from the point when foreign economic policy was solely concerned with foreign trade - pursued to promote the interests of individual countries - to the current globalization of the world economy that creates a uniform market in goods, services and factors of production that embrace all countries and regions.

Globalisation has evolved to become the dominant economic, cultural, environmental and political phenomenon of our time. In economic terms, debates now extend beyond concepts of 'winners and losers', to key questions of how to deal with the problems unleashed by globalisation while preserving its benefits. However, if the benefits of globalisation are fairly shared and the costs properly dealt with, a deeper economic understanding of how globalisation is impacting our economic world is needed. This important book addresses this task, featuring contributions from many of the world's leading economists. Seven key aspects of globalisation are considered: trans-border trade, trans-border movement of people and capital, the emergence of a new international order, the homogenization of economic cultures, technology and institutions, labour market consequences, corporate governance issues, and prospects for a global society. These carefully chosen themes illuminate the complex path that globalisation is following by showing it to be a process consisting of various transitions and subplots, the totality of which is closely examined in this comprehensive and authoritative work. Economics of Globalisation is essential reading for academics, researchers, policy-makers and business professionals.

In our increasingly globalized world, U.S. trade policy stands at the intersection of foreign and domestic affairs. This book explains trade policy in terms of domestic politics, presenting a concise account of its origins and political significance.

Although trade policy is a component of foreign policy, Philip A. Mundo explains how it is rooted in the domestic policy process and carries with it enormous implications for domestic affairs. He reviews the growing importance of trade policy since World War II -- particularly over the past twenty years -- and shows how recent policies like NAFTA are shaped by the domestic agenda.

Mundo explains trade policy as the product of a three-stage process comprising agenda setting, program adoption, and implementation. He reviews this process in terms of the ideas that inform trade policy, the interests that seek to influence it, and the institutions that shape it. He also addresses the importance of specific measures, such as administrative relief and trade sanctions.

This book distills the essence of the trade policy process into a concise, innovative framework accessible to students and general readers. With the growing importance of trade policy, it makes explicit many of the subtleties surrounding policymaking while fully explicating the legal and international context in which trade operates.

For almost fifty years Japan pursued a single-track approach focusing trade negotiation efforts exclusively on the global multilateral forum while shunning regionalism as harmful to the General Agreement on Trade and Tariffs/ World Trade Organisation system. However, following the tsunami disaster of March 2011 and widespread economic downturn Tokyo has engaged much more actively in pursuing bilateral Free-Trade Agreements (FTAs). This book explores the turnaround in Japanese strategy and trade policy. Drawing on case studies and including interviews with FTA policymakers within the government and key interest groups it focusses on the domestic political process of FTA and Trans-Pacific Partnership (TPP) negotiations to investigate the cause of the policy shift. This work will prove useful to students, scholars and policymakers interested in international political economy, Japanese trade policy, East Asian regionalism and the Trans-Pacific Partnership (TPP).

The European Union (EU) has emerged as a key actor in the global investment regime since the 1980s. At the same time, international investment policy and agreements, which govern international investment liberalisation, treatment and protection through investor-to-state dispute settlement, have become increasingly contentious in the European public debate. This book provides an accessible introduction to international investment policy and seeks to explain how the EU became an actor in the global investment regime. It offers a detailed analysis of the EU's participation in all major trade and investment negotiations since the 1980s and EU-internal competence debates to identify the causes behind the EU's growing role in this policy domain. Building on principal-agent and historical institutionalist models of incremental institutional change, the book shows that Commission entrepreneurship was instrumental in the emergence of the EU as a key actor in the global investment regime. It refutes business-centred liberal intergovernmental explanations, which suggest that business lobbying made the Member States accept the EU's growing role and competence in this domain. The book lends support to supranational and challenges intergovernmental thinking on European Integration. This text will be of key interest to scholars, students and practitioners of European and regional integration, EU foreign relations, EU trade and international investment law, business lobbying, and more broadly of international political economy.

This book explores tensions in global trade by examining the role of experts in generating, disseminating and legitimating knowledge about the possibilities of trade to work for global development. To this end, contributors assess authoritative claims on knowledge. They also consider structural features that uphold trade experts' monopoly over knowledge, such as expert language and legal and economic expertise. The chapters collectively explore the tensions between actors who seek to effect change and those who work to uphold the status quo, exacerbate asymmetries, and reinforce the dominant narrative of the global trade regime. The book addresses the following key overarching research questions: Who is considered to be a trade expert and how does one become a knowledge producer in global trade? How do experts acquire, disseminate and legitimate knowledge? What agendas are advanced by expert knowledge? How does the discourse generated within trade expertise serve to close off alternative institutional pathways and modes of thinking? What potential exists for the emergence of more emancipatory global trade policies from contemporary developments in the field of trade expertise? This book will be of great interest to students and scholars of IPE, Trade Politics, International Relations, and International Organizations.

The postwar era was characterized by unprecedented economic expansion. The growth in international trade contributed significantly to this expansion, the growth being the product of the reduction of tariff barriers. As protectionism increased in the 1970s and 80s, the use of non-tariff barriers rose dramatically. This book, first published in 1993, explores how the use of one such barrier, antidumping laws, influenced the US economy.

This book examines the contemporary production of economic value in today's financial economies. Much of the regulatory response to the global financial crisis has been based on the assumption that curbing the speculative 'excesses' of the financial sphere is a necessary and sufficient condition for restoring a healthy economic system, endowed with real values, as distinct from those produced by financial markets. How, though, can the 'intrinsic' value of goods and services produced in the sphere of the so-called real economy be disentangled from the 'artificial' value engineered within the financial sphere? Examining current projects of international legal regulation, this book questions the regulation of the financial sphere insofar as its excesses are juxtaposed to some notion of economic normality. Given the problem of neatly distinguishing these domains - and so, more generally, between economy and society, and production and social reproduction - it considers the limits of our current conceptualization of value production and measurement, with specific reference to arrangements in the areas of finance, trade and labour. Drawing on a range of innovative work in the social sciences, and attentive to the spatial and temporal connections that make the global economy, as well as the racial, gender and class articulations of the social reproductive field within it, it further asks: what alternative arrangements might be able to affect, and indeed alter, the value-making processes that underlie our current international regulatory framework?

Controlling Capital examines three pressing issues in financial market regulation: the contested status of public regulation, the emergence of 'culture' as a proposed modality of market governance, and the renewed ascendancy of private regulation. In the years immediately following the outbreak of crisis in financial markets, public regulation seemed almost to be attaining a position of command - the robustness and durability of which is explored here in respect of market conduct, European Union capital markets union, and US and EU competition policies. Subsequently there has been a softening of command and a return to public-private co-regulation, positioned within a narrative on culture. The potential and limits of culture as a regulatory resource are unpacked here in respect of occupational and organisational aspects, stakeholder connivance and wider political embeddedness. Lastly the book looks from both appreciative and critical perspectives at private regulation, through financial market associations, arbitration of disputes and, most controversially, market 'policing' by hedge funds. Bringing together a distinguished group of international experts, this book will be a key text for all those concerned with issues arising at the intersection of financial markets, law, culture and governance.

The 'Belt and Road' initiative announced by Chinese President Xi Jinping in 2013 aims at reviving the ancient trade routes connecting China to Europe and Africa: the '21st Century Maritime Silk Road' and the inland 'Silk Road Economic Belt'. Both maritime and land routes of the New Silk Road meet Europe in the Baltics - a region accounting for some 150 million inhabitants representing 30% of the total EU population. The maritime route enters Europe through the Mediterranean Sea before reaching the largest European seaports of the North Sea and the Baltic Sea up to Saint Petersburg in Russia. The land route starting from West China crosses Central Asia, Russia and Belarus before reaching the shores of the Baltic Sea.This book focuses on the business and economic dimensions of China's initiative: Chinese government objective and policies, the strategies of Chinese and foreign firms along the Silk Road, trade and investment between China and Nordic-Baltic countries, the Eurasia Land Bridge corridors and logistics, the impact of the New Silk Road on the economies of Central Asia, new institutions financing the 'Belt and Road', cross-cultural challenges and Sino-foreign joint ventures along the New Silk Road. The direct impact of China's initiative on economic sectors such as logistics services; the shipping, port management and maritime industry; construction and high-speed train; energy and engineering; and e-commerce, information technology and tourism will be assessed.Readers will be provided with an in-depth analysis of the opportunities and challenges for companies and regions along the New Silk Road as well as 17 short case studies focusing on China-led projects currently developed along the 'Belt and Road' and 15 maps of the New Silk Road, the Baltic Sea Region and Central Asia to help in understanding China's vision and strategic moves.

Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial policy, with the second section investigating the crosscutting legal issues relating to the purpose and design of agreements. Final sections cover key issues of commercial policy in the modern global economy. Every chapter in the book provides coverage from the perspectives of multilateral, and where appropriate, preferential trade agreements. While most other volumes are policy-oriented, this comprehensive guide explores the ways that intellectual thinking and rigor organize research, further making frontier-level synthesis and current theoretical, and empirical, research accessible to all.

With land space running out and increasingly stringent environmental legislation being passed, affluent nations have turned to poorer countries to handle some of their hazardous waste. Some developing countries have continued to accept waste shipments, while others have imposed bans but cannot enforce them effectively. This lack of regulation has led to a political backlash against international trade in wastes, culminating in a call by the United Nations for a global ban. This book discusses the need for a regulated and informed forum for international trade in hazardous waste. The authors argue that with careful planning, health and ecological risks can be minimized and net economic benefits realized fairly. The book examines the key parameters that should be considered by potential trading nations to ensure an optimally safe and mutually beneficial partnership. The authors provide comprehensive coverage of the political, environmental, industrial and economic issues involved in this complex and increasingly controversial practice. The book should be of interest to those working in industries involved in transporting waste and policy makers and agencies at both local and national

The World That Trade Created brings to life the history of trade and its actors. In a series of brief, highly readable vignettes, filled with insights and amazing facts about things we tend to take for granted, the authors uncover the deep historical roots of economic globalization. Covering over seven hundred years of history, this book, now in its fourth edition, takes the reader around the world from the history of the opium trade to pirates, to the building of corporations and migration to the New World. The chapters are grouped thematically, each featuring an introductory essay designed to synthesize and elaborate on key themes, both familiar and unfamiliar. It includes ten new essays, on topics ranging from the early modern ivory and slave trades across the Indian Ocean, to the ways in which the availability of new consumer goods helped change work habits in both Europe and East Asia, and from the history of chewing gum to that of rare earth metals. The introductory essays for each chapter, the overall introduction and epilogue, and several of the essays have also been revised and updated. The World That Trade Created continues to be a key resource for anyone teaching world history, world civilization, and the history of international trade.