The Pacific has long been a space of conquest, exploration, fantasy, and resistance. Pacific Islanders had established civilisations and cultures of travel well before European explorers arrived, initiating centuries of upheaval and transformation. The twentieth century, with its various wars fought in and over the Pacific, is only the most recent era to witness military strife and economic competition. While "Asia Pacific" and "Pacific Rim" were late twentieth-century terms that dealt with the importance of the Pacific to the economic, political, and cultural arrangements that span Asia and the Americas, a new term has arisen-the transpacific. In the twenty-first century, U.S. efforts to dominate the ocean are symbolized not only in the "Pacific pivot" of American policy but also the development of a Transpacific Partnership. This partnership brings together a dozen countries-not including China-in a trade pact whose aim is to cement U.S. influence. That pact signals how the transpacific, up to now an academic term, has reached mass consciousness. Recognising the increasing importance of the transpacific as a word and concept, this anthology proposes a framework for transpacific studies that examines the flows of culture, capital, ideas, and labour across the Pacific. These flows involve Asia, the Americas, and the Pacific Islands. The introduction to the anthology by its editors, Janet Hoskins and Viet Thanh Nguyen, consider the advantages and limitations of models found in Asian studies, American studies, and Asian American studies for dealing with these flows. The editors argue that transpacific studies can draw from all three in order to provide a critical model for considering the geopolitical struggle over the Pacific, with its attendant possibilities for inequality and exploitation. Transpacific studies also sheds light on the cultural and political movements, artistic works, and ideas that have arisen to contest state, corporate, and military ambitions. In sum, the transpacific as a concept illuminates how flows across the Pacific can be harnessed for purposes of both domination and resistance. The anthology's contributors include geographers (Brenda S. A. Yeoh, Weiqiang Lin), sociologists (Yen Le Espiritu, Hung Cam Thai), literary critics (John Carlos Rowe, J. Francisco Benitez, Yunte Huang, Viet Thanh Nguyen), and anthropologists (Xiang Biao, Heonik Kwon, Nancy Lutkehaus, Janet Hoskins), as well as a historian (Laurie J. Sears), and a film scholar (Akira Lippit). Together these contributors demonstrate how a transpacific model can be deployed across multiple disciplines and from varied locations, with scholars working from the United States, Singapore, Japan and England. Topics include the Cold War, the Chinese state, U.S. imperialism, diasporic and refugee cultures and economies, national cinemas, transpacific art, and the view of the transpacific from Asia. These varied topics are a result of the anthology's purpose in bringing scholars into conversation and illuminating how location influences the perception of the transpacific. But regardless of the individual view, what the essays gathered here collectively demonstrate is the energy, excitement, and insight that can be generated from within a transpacific framework.

The period between the close of the Kennedy Round and the opening of the Uruguay Round replaced a decade of fast growth in world output and trade - and of prevailing harmony in trade relations across the Atlantic - with twenty years of currency and trade turmoil and strains between the US and the EC. Giuseppe La Barca provides a comprehensive account of these trade developments and the measures adopted by the US and the EC to cope with them; in doing so, he draws a wider picture of international trade policy-making during the period. The aftermath of the Kennedy Round witnessed the undoing of the Bretton Woods regime, but the consequent overheating of the world economy resulted in an acceleration of international trade while settlement in the currency area contributed to the launching of the Tokyo Round negotiations. The first oil shock heralded an unprecedented slump along with a jump in unemployment and inflation rates. The Tokyo Round resulted only in a first step in eliminating non-tariff barriers, leaving contentious issues between the two transatlantic trading partners unsettled. The second oil shock led to growing calls for protectionism and unilateralism particularly in the US, and the Reagan administration pressed for the launch of the Uruguay Round only partially supported by the EC. Providing an in-depth analysis of trade developments involving the two most important economic actors, and placing these developments in a multilateral, international context, this book offers new insights to scholars of economic history and international political economy.

This study forms an entirely new area of research on Small Island Tourism Economies (SITEs). It addresses the importance of uncertainty in monthly international tourist arrivals and country risk indicators to the macroeconomy. Conditional volatilities are estimated for international tourist arrivals, and an economic interpretation from the estimated results is provided. In achieving these two objectives, this work presents an extensive assessment of the important characteristics and the impact of tourism in SITEs in relation to their gross domestic product, balance of payments, employment and foreign direct investment, among other factors. This book is unique in giving emphasis to macroeconomic implications rather than an industry focus.The Economics of Small Island Tourism will appeal to academics at the undergraduate and postgraduate levels involved in environmental and tourism management as well as tourism economics.

The widely held view of the Asian Financial Crisis is that it had no substantial impact on China. In fact, the country was far more vulnerable than most people realized, due to the high possibility of financial contagion entering the system from Hong Kong through Guangdong province. This book analyzes the severe policy challenge that it presented for China's leaders. The crisis in Guangdong's financial institutions provided a forewarning of the difficulties that lay ahead as China's integration with the global financial system deepened. The experience of Guangdong in the Asian Financial Crisis provided a profound lesson for China's policy-makers as they planned the country's strategy for financial reform in the following years. China was able to avoid disaster by astute and difficult policy choices, in the face of fierce pressure from outside the country, as well as from different domestic interests at many different levels. The successful resolution of the crisis provided a breathing space for the leadership. It gave it time to undertake necessary reforms in the country's financial system in the decade that followed the crisis.

This book reviews the background and evolving features of Sino-African relations, exploring various stages over the past 50 years. Pursuing an objective and forward-looking approach, it analyzes the development, current issues and future direction of Sino-African relations, as well as their global impact. Despite ideological and policy differences, it also outlines potential avenues of cooperation between China and western countries in promoting development in Africa. Potential means of adapting and improving China's "going into Africa" policy in the post-crisis era are also discussed, highlighting the importance of enhancing soft power in Africa.

Money laundering is a problem of some magnitude internationally and has long term negative economic impacts. Brigitte Unger argues that today, money laundering is largely linked to fraud and that it is not only small islands and tax havens which launder, but increasingly, industrialized countries like the US, Australia, The Netherlands and the UK. Well established financial markets and growing economies with sound political and social structures attract launderers in the same way as they attract honest capital. The book gives an interdisciplinary overview of the state-of-the-art of money laundering as well as describing the legal problems of defining and fighting money laundering. It then goes on to present a number of economic models designed to measure money laundering and applies these to measuring the size of laundering in The Netherlands and Australia. The book also gives an overview of techniques and potential effects of money laundering identified and measured so far in the literature. It adds to this debate by calculating the effects of laundering on crime and economic growth. This book will be of great interest to lawyers, financial experts, economists, political scientists, as well as to government ministries, international and national organizations and central banks.

The evolution of China's market economy is one of the most important developments in the world economy in the twenty-first century. The diverse contributors to this book provide a unique set of essays that evaluate legal, regulatory, and economic aspects of China's transition from planned to market economy. While market-oriented policy reform in China has led to substantial growth and progress since the onset of the reform period in 1979, many challenges remain. This study begins with a general survey of China's transition to a market economy and is followed by more elaborate analyses of specific sectors. The authors consider China's changing regulatory structure and the relationships of this structure to Chinese markets, developments in markets for goods, services, and production factors, changing trade patterns, and the determinants of foreign direct investment and its role in overall capital formation. They provide a comprehensive assessment of market reforms in China. In-depth yet accessible, the book will be of great value to policy makers, business planners, students and researchers concerned with China, as well as those interested in the world economy at large.

O. Yul Kwon uses an institutional framework to provide a comprehensive evaluation of the environmental and operational dynamics of international business in South Korea from the rapid growth period 1963-1996, through recovery from the 1997 financial crisis, to the present. The study assesses that the South Korean market and business practices will maintain some sui generis characteristics because of the country's idiosyncratic culture and singular form of institutional development in the recent past. The book contains comprehensive analysis of macro-level topics (such as business opportunities, cultural influence, country risk and market configuration) and micro-level topics (including business negotiation, business ethics, management of international joint ventures and the management system). This book delivers a wealth of valuable information for a scholarly audience including undergraduate and postgraduate students and academics in international business, as well as for firms considering market entry into South Korea.

This book develops new balance of payments statistics for the United States from 1790 to 1919, before official statistics were kept. Part I of this book justifies construction of a new balance of payments table, and Chapter 1 surveys existing tables from that standpoint. Chapter 2 shows how this book overcomes the limitations of Office of Business Economics and its North-Simon-Goldsmith foundation. Specific features are highlighted, including measurement decisions, improvement of OBE series, development of new series, and derived implications for the structure of the US economy and for the importance of individual sectors that loom large at various times: slave trade, shipping, manufacturing, and travel. The book then generates new time series of the movement of people, the movement of goods, the movement of funds, and the provision of services. Part VI puts the new balance of payments table to use in several ways: aggregates and balances within the table, structure of the US economy, and specific sectors of the economy (slave trade, shipping, manufacturing, travel). Finally, Part VII provides concluding comments.

The first East Asia Summit in 2005 prompted discussions of enlargement of ASEAN free trade agreements to include all major trading blocs and their regional and global implications. In this timely and original study, Tran Van Hoa and Charles Harvie explore the likely effects of new regional development. With more than half of the world's consumption and production market, well-defined trade agreements in Asia remain crucial to the economic growth and stability of the area. This book contains scholarly and well-researched contributions from internationally renowned experts from ASEAN, East and South Asia and Oceania who discuss this major new development and its impact on trade, investment, services, development, industry, poverty and economic relations. An important collection of new research, this volume will be used by economists, trade experts, academics, students, government advisers, policymakers and all those interested in these significant contemporary developments and their far-ranging implications in an enlarged Asia.

Globalization is a complex phenomenon involving the mobility of goods, capital, labour and ideas across country borders. From an economic point of view, two waves of globalization have been identified by scholars so far. The first wave materialized between the second half of the Nineteenth century and WWI; the second wave rose after WWII and gained momentum at the end of the Twentieth century before slowing down in the aftermath of the global financial crisis due to renewed protectionist pressures. This collection of essays studies the implications of this second wave of globalization for national economic performance. In doing so, it takes a bottom-up approach, building up the macroeconomic trajectories from the microeconomic effects of globalization on firms and workers. The collected essays highlight the asymmetry of responses across firms and workers between and within industries as well as territories, thus explaining the forces behind the emergence of 'winners' and 'losers' from globalization. The collection shows how state-of-the-art models of international economics and economic geography can be brought to life by addressing several topical issues in the public debate, ranging from regional growth and regional decline to international competition and creative destruction, from innovation patterns to cultural diversity and from immigration to offshoring.

Combining critical perspectives with a positive contribution to economic policy, both national and international, this book considers the causes and consequences of recent financial crises presenting cutting-edge material. The editors bring together a number of well-known scholars to offer their views and elaborate on alternative solutions with respect to the Washington Consensus on how to restructure the monetary and financial system in order to avoid financial crises in the future. The book deals with a number of issues, such as the Asian financial crises of the 1990s, exchange rate arrangements, financial liberalization and capital controls. The contributors take a critical approach, providing the elements for a new analysis of monetary and exchange rate issues in the modern world. Monetary and Exchange Rate Systems will be extremely useful for researchers and policymakers interested in monetary macroeconomics and in the international financial system.

This volume is the first to provide a comprehensive analysis of the nine environmental and health disputes that have been adjudicated at the WTO since 1995. The investigation concludes that criticism of the WTO has been overstated and, surprisingly, nations do in fact retain sovereignty over environmental and health policy. The disputes explored suggest that the WTO has been able to balance trade, environmental and health objectives. The discussion illuminates the strengths and weaknesses of the dispute resolution process and closes with suggestions for improving it. The Impact of the WTO will appeal not only to academics, be they economists, lawyers, political scientists, and academic libraries, but also practitioners, policymakers, and members of consumer, environmental, and business organizations who follow the debates surrounding the WTO's influence on environmental and health regulations.

This book offers the first systematic discussion of a new and promising field: the economics of independence, accountability and governance of financial supervision institutions. For a long time the design of supervision had been an irrelevant issue, both in theory and practice. This perception changed dramatically in the mid-1990s, and over the past decade many countries have witnessed changes in the architecture of financial supervision. This book presents frameworks for analyzing the emerging supervisory architectures and sheds light on the different supervisory regimes, with a particular focus on the role of central banks. It takes a country-specific, comparative and empirical approach. Designing Financial Supervision Institutions will be an accessible reference tool for multidisciplinary scholars and academics (principally economics, but also politics and law), policymakers, regulators and supervisory institutions. All royalties from this book to go to the UK charity, NSPCC.

Congratulations on an outstanding book on the WTO TBT Agreement! International regulations and standards reflect societies' fundamental choices. Regulating and monitoring them is complex, and the renowned co-authors of this book have well understood the multi-faceted matters at stake. In this book, world experts have seized a unique opportunity provided by the wealth of recent TBT jurisprudence to analyse the different dimensions of the TBT Agreement, a WTO agreement little discussed up to now. WTO experts as well as anyone interested in the reach of WTO law into the balance between national sovereignty and the need for international co-operation must read this book.' - Gabrielle Marceau, WTO, Legal Affairs Division, UNIGE and Graduate Institute, Geneva, SwitzerlandA relatively new frontier for legal and policy analysis, technical barriers to trade (TBT's) have become more common as traditional border barriers have been reduced. This comprehensive Handbook comprises original essays by eminent trade scholars exploring the implications of the WTO's TBT Agreement. The TBT Agreement imposes disciplines on the manner in which WTO member countries adopt and maintain technical measures, recognizing the importance of such measures to advance legitimate domestic policy goals such as health, safety and environmental objectives, but also the potential for technical measures to constitute barriers to trade. The contributors to this volume provide an in-depth examination of the text of the Agreement and how the WTO's dispute settlement system, the TBT Committee, WTO members, and other international organizations have engaged with and been affected by it. The book's comprehensive and accessible approach makes it a first point of reference for all trade law practitioners, policymakers and regulators. For scholars and students, the Handbook will prove essential reading for a deeper understanding of trade law. Contributors: A.E. Appleton, A. Arcuri, M. Cardwell, H. Churchman, M.M. Du, T. Epps, C. Gascoigne, L. Gruszczynski, B. Hazucha, R. Howse, A. Kudryavtsev, P.C. Mavroidis, G. Mayeda, A. Mitchell, D. Prevost, F. Smith, J.P. Trachtman, M.J. Trebilcock, T. Voon, M. Wagner, E.N. Wijkstroem

Written by two leading scholars with 60 years of collective experience in the area, this insightful and updated second edition provides a clear and concise introduction to the fundamental components of international trade law, presenting the basic structure and principles of this complex area of law, alongside elucidation of specific GATT and WTO legal rules and institutions. Key features include: a nuanced yet highly readable summary of the area placement of trade law into historical, political and economic contexts, including new analysis of populist critiques references to the most recent cases, decisions, treaty negotiation developments and economic and legal scholarship analysis of new areas including digital trade, migration and security exceptions to alert students to developments in international trade law links and connections between different areas of trade law to provide students with an integrated overview of the topic. Interdisciplinary in nature, this second edition will be an indispensable guide for students in law, economics, political science and international relations. Comprehensive and accessible, it will be essential reading for non-specialist scholars and policy advisors seeking to further their understanding of international trade law. 'This Advanced Introduction provides an excellent succinct yet accurate summary of the international trade rules applicable, inter alia, to trade in goods, services, intellectual property, and investment. It also explores international standards, social issues such as development, environment, labour, human rights, and it addresses the institutional framework and the future of the world trading system. As an experienced practitioner in this field, I highly recommend this book to government officials, business people, and students who will all get a clear interdisciplinary tour d'horizon in the field of international trade.' - Gabrielle Marceau, University of Geneva, Switzerland and Senior Counsellor at the WTO

In less than three decades, China has emerged as the world's largest exporting nation with more than $2 trillion exports annually. China's quick rise as a leading exporter in the world is an unprecedented miracle. There are many theories explaining this miracle. This book adopts the global value chain (GVC) approach to analyze the Chinese export miracle over the last four decades. It focuses on the tasks rather than the gross export value and emphasizes the organizations of modern trade rather than the national comparative advantage. The GVC approach systematically explains how, in less than four decades China has evolved from a closed economy to the world's No. 1 exporting nation; why China, a developing country, has exported more high-technology products than labor-intensive products to the US; and why almost half of the US trade deficit has originated from China.The book identifies three spillover effects of GVCs that originated from brands, technology and product innovation, and distribution and retail networks of GVCs lead firms. It argues that China's deep integration with GVCs has been a decisive factor for China's emergence as the world's No.1 exporting nation and the champion of high-technology exports. In addition, this book uses iPhone trade and the operation of Apple, the largest factory-less American manufacturer, to explain how current trade statistics exaggerate China's exports to and its trade surplus with the US on the one hand, and underestimate US exports on the other hand.By using the experience of the Chinese mobile phone industry, the book argues that the GVC strategy can be a short-cut for developing countries to achieve industrialization and enable firms of developing countries to enter high-technology sectors despite their intrinsic disadvantages. At this end, the book also discusses the future trajectory of China-centered GVCs under the shadow of the US-China trade war and the COVID-19 pandemic.

The current world economy is interconnected; however, due to recent economic crises, trade deficits, and nationalist movements, there is a political trend of economic nationalism that is taking root in countries around the world. As such, global economies around the world are decreasing their international trade and introducing import tariffs and economic protectionism. International Firms' Economic Nationalism and Trade Policies in the Globalization Era provides a comprehensive understanding of the recent rise of economic nationalism in the context of the hyper-connected global economy by providing strategies and country-specific solutions for domestic and international firms. Covering how multinational corporations can overcome the protectionist sentiments while reinventing their corporate social responsibility models, it showcases how economic nationalism and globalization can successfully coexist. This publication is ideally designed for business leaders, economists, professionals, policymakers, researchers, and academicians.