Trade finance is of great importance in the commercial world, for both students (undergraduate and postgraduate) and practitioners. The choice of countries in export trade is often perception-based: trade with government departments or public institutions is seen as much safer than with private entities and the choice of countries is often based on that perception of risk. Legal Aspects of Trade Finance provides a comprehensive approach to the issues relating to export trade and the methods of raising finance for such trade. The obstacles that traders may encounter in providing trade across national boundaries are clearly identified, as are the risks parties to a trade contract should take into account. It explains the various methods of payment and types of finance, such as: - Letters of credit; barter; bills of exchange - Factoring; forfeiting; export credit guarantees It also examines the role of international organizations and statutes, such as: - ICC Uniform Rules for Collection - UNIDROIT Conventions of International Factoring This title is illustrated with examples from case law relevant to both developed and developing countries. This book is suitable for both undergraduates and graduate students studying the interaction between law and commerce, and for transnational trade practitioners.

The World Trade Organization (WTO), the successor to GATT, is rapidly establishing itself as the third pillar of the Bretton Woods institutions alongside the World Bank and the IMF. The prolonged international negotiations which led to its establishment have produced a complex set of agreements which not only constitute the most profound revision of the rules governing world trade, but extend these rules into a range of issues and economic sectors not hitherto regarded as falling within its ambit. This book, by an author who was intimately involved in the Uruguay Round which led to the creation of the WTO, is an indispensable and concise explanation of what the WTO agreements actually provide for. It deals with the full range of technical provisions and issues, explaining where necessary the background, terms involved, and implications of the new provisions. Together with its companion volume which criticizes the Agreements from the point of the view of the developing countries, it provides public officials, NGO leaders and economists in general with an essential explanation of the new rules governing world trade.

The book examines the trade liberalization measures, which were initiated in India during 1991 and which focused on manufacturing industries. This industry was considered because of its strong inter-sectoral links and its capacity to stimulate the growth of other sectors. The resulting liberal trade policies, involving a reduction in trade barriers and inflows of FDI, capital and technologies, were adopted to increase the manufacturing output. However, these measures were most beneficial to those industries whose products have greater demand in developed countries. Against this backdrop, the book breaks down the overall effect of trade-induced manufacturing growth into scale, composition and technique effects to discuss the impact on environmental externality. In addition to manufacturing activity, it also investigates the effect of other factors that improve with economic growth and examines the extent to which India's trade-led economic growth allows production activities to move to cleaner technologies and whether India has achieved its economic growth by specializing in pollution-intensive (low technology) industries. The book also estimates the impact of these environmental externalities on society's wellbeing.

The Judicial Politics of Economic Integration analyses development strategies and regional integration in the Andean Community (the former Andean Pact), focusing on the establishment of the Andean Court of Justice and its case law, as well as the intellectual underpinnings that made such an impressive reform possible. The court is a transplant taken from the European integration process, and it materializes the visions, expectations, and dreams of the transnational development movement of "integration through law". The book discusses the outcomes of the Court in light of the debates about judicial reform in the process of development and regional integration. Although clearly confirming several earlier claims that "one size does not fit all", Osvaldo Saldias provides new insights into how legal transplants adapt and evolve, and how we can learn much more about legal reform from a project that presumably failed than from successful copies. The Andean Court of Justice is a remarkable example of an institution capable of adapting to political and economic challenges; therefore, in times of a severe European economic crisis we should not forget that we might improve our understanding of European integration by looking at developments in other regions. An interesting new study with an international focus, this book will be a fascinating read for students and scholars of Law and Latin American Studies.

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 trade conflicts that the EU has faced within the EU or WTO context demonstrate that the question of how to balance trade and other societal values in situations of uncertainty has not been solved by the regulatory model evolved by the EU in the aftermath of the BSE crisis - one which privileges processes of depoliticisation and scientification. This book addresses the current key dilemmas around science, law and the regulation of trade, both on a regime level and in the context of particular industrial sectors, e.g pharmaceuticals, climate change and nanotechnology. It will present possible future research avenues by looking at both theory and practice and learning from various disciplines (law and social sciences), legal realities (WTO, USA and EU) and actors (regulators, stakeholders, courts).

This book provides a longitudinal study of developing country involvement in multilateral trade negotiations. The trade regime established at the end of the Second World War did not cater for, and in some cases excluded, the developmental interests of the newly independent countries. This book offers a detailed analysis of: The first attempts to revise the trade regime in the 1960s through the United Nations Conference on Trade and Development and the formation of the Group of 77 to enhance their bargaining potential. The mixed coalition strategy, with the Cairns Group in the Uruguay Round of GATT. The new bargaining coalition, the Group of Twenty, that took on a much more confrontational and assertive bargaining position in the unsuccessful Doha round of the World Trade Organization. In part two, the author explores the possibility that economic globalization may finally deliver to developing countries what they had failed to achieve in five decades of multilateral negotiations - an opportunity to climb the industrialization ladder and achieve development. The book offers a proposal for revising the format of trade negotiations in a way that helps overcome stalemates and deadlocks. Trade, Development and Globalization will be of interest to students and scholars of international trade, trade and development, negotiation, global governance, political economy, international relations and economics.

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.

Nontariff Measures and International Trade includes 20 chapters authored by John Beghin and co-authors over the last 20 years on the economics of quality-standard like nontariff measures in the context of international trade. This book provides a coherent and comprehensive treatment of these nontariff measures, from their measurement to their effects on trade and welfare. In Part I, the authors use different perspectives to make the case that, unlike tariffs, quality-standard like nontariff measures are complex to measure and analyze and do not easily lead to general policy prescriptions. Then, Part II contains contributions on measurements of welfare and trade effects of nontariff measures, accounting for potential market imperfections. Part III presents chapters on the potential protectionism of nontariff measures when they are used to favor some economic agents over society. The last part presents cases studies of nontariff measures in different industries, markets, and countries.

Originally published in 1990, Agricultural Protectionism in the Industrialized World takes a detailed look into the domestic and international agricultural policies of the United States, Europe, Canada, Japan, Australia and New Zealand. These areas are some of the most industrialised in the world and this study focuses on the benefits, policies and costs related to protectionism of their agriculture. These papers offer detailed analysis of the evolution, objections and domestic and international implications related to agriculture in specific countries as well as taking a global view of issues such as policy, trends and costs and concluding with a discussion on the effects of free trade. This title will be of interest to students of environmental studies.

First published in 1982, the editors and authors of this book examine the United States' 1973 embargo on the export of soybeans and its effects on U.S.-Japanese relations. Although eventually shipment of soybeans to Japan resumed, the embargo temporarily soured the friendly relations of the two democracies. This book, prepared by a group of Japanese and U.S. scholars, demonstrates how trade relations between the two countries are affected by their internal political situations and by the nature of their respective agricultural industries. U.S.-Japanese Agricultural Trade Relations will be valuable to scholars, policy makers, and others interested in agricultural trade. It should be particularly useful in courses on international trade and on agricultural policy.

For the last 60 years, Saudi Arabia has assumed a vital economic role and has been situated on the center stage of the global economic and political scene. While the market was once dominated by American and British firms, and later Japanese corporations, Korean and Chinese companies have now aggressively entered the market and have posed serious challenges to entrenched multinational corporations. The Saudi market has newly become an arena for unbridled competition. As companies must adapt and embark on creative means to sustain their positions in dynamic markets, multinational corporations must also find a comprehensive approach to dealing with cultural and political developments. Having a competitive edge demands familiarity with market nuances and peculiarities in addition to providing quality product and service. Business and Management Environment in Saudi Arabia is not primarily about how to conduct business in the region, but rather it provides insightful information to optimally guide western managers in conducting their operations in Saudi Arabia. The book offers essential information to engage effectively, manage business activities, resolve cultural understandings, and tackle appropriate issues of group dynamics, human resource management, managing change, and development and relations with the government and the general public. As such, it is required reading for both business leaders and academics alike.

First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.

Increasingly, transnational corporations, developed countries and private actors are broadening the boundaries of their investments into new territories, in search of a higher return on capital. This growth in direct foreign investment involves serious concerns for both the investor and host state. Various exponents of international civil society and non-governmental organisations persuasively claim that such growth in foreign investments constitutes potential and serious hazards both to the environment and the fundamental rights and freedoms of local populations. This book explores from an international law perspective the complex relationship between foreign investments and common concerns, i.e. values that do not coincide, or do not necessarily coincide, with the interests of the investor and of the host state. It pays particular attention to the role of the main international development banks in reconciling the needs of foreign investors with the protection of common concerns, such as the environment, human rights and labour rights. Among its collection of essays, the volume asks how much "regulatory space" investment law leaves; whether international investment law is an effective means of balancing contrasting interests, and whether investment arbitration currently constitutes a mechanism of global governance. In collecting the outlooks of various experts in human rights, environmental and international economic law, this book breaks new ground in exploring how attention to its legal aspects may help in navigating the relationship between foreign investment and common concerns. In doing so, the book provides valuable insights into the substantive issues and institutional aspects of international investment law.

This volume by acclaimed war reporter Clare Hollingworth , first published in 1952, surveys the politics of an area which has produced, and is likely to produce, more wars that it can consume locally. After a historical opening, about the general situation during and after the war, the author devotes chapters to the different States, and writes in some detail of the main problems affecting the area, such as oil, military power, communism and industrialization.

Ship management is a worldwide activity. Modern ships are sophisticated designed structures equipped with several automatic devices. It is estimated that 90 per cent of commodities transported worldwide are carried by ships. Therefore there is great interest from many private and public organizations that those ships are operating, manned, designed and maintained within international acceptable standards. The obligation of stakeholders to comply with maritime regulations is included in most statutory and commercial agreements and therefore inadequate implementation of maritime regulations exposes stakeholders to commercial risks. This book explores how the application of mathematical decision-making tools could be used to manage maritime regulations. Performance management tools are proposed which would allow stakeholders to monitor the regulatory performance of their organization in order to reduce or eliminate those commercial risks. The process of introducing an implementation process for maritime regulations worldwide is described within this text. An emphasis is put on the role of main stakeholders in the regulatory process and reasons that increase the willingness of stakeholders to participate in the implementation of regulations. This book will be of interest to scholars and students interested in the management of the shipping industry as well as ship owners and managers who are charged with implementing maritime regulations.

How the rise of the West was a temporary exception to the predominant world order What accounts for the rise of the state, the creation of the first global system, and the dominance of the West? The conventional answer asserts that superior technology, tactics, and institutions forged by Darwinian military competition gave Europeans a decisive advantage in war over other civilizations from 1500 onward. In contrast, Empires of the Weak argues that Europeans actually had no general military superiority in the early modern era. J. C. Sharman shows instead that European expansion from the fifteenth to eighteenth centuries is better explained by deference to strong Asian and African polities, disease in the Americas, and maritime supremacy earned by default because local land-oriented polities were largely indifferent to war and trade at sea. Empires of the Weak demonstrates that the rise of the West was an exception in the prevailing world order.

This book provides a state-of-the-art review and critical evaluation of research into 'flashbulb' memories. The opening chapters explore the 'encoding' view of flashbulb memory formation and critically appraise a number of lines of research that have opposed this view. It is concluded that this research does not provide convincing evidence for the rejection of the encoding view. Subsequent chapters review and appraise more recent work which has generally found in favour of the flashbulb concept. But this research too, does not provide unequivocal support for the encoding view of flashbulb memory formation. Evidence from clinical studies of flashbulb memories, particularly in post-traumatic stress disorder and related emotional disturbances, is then considered. The clinical studies provide the most striking evidence of flashbulb memories and strongly suggest that these arise in response to intense affective experiences. Neurobiological models of memory formation are briefly reviewed and one view suggesting that there may be multiple routes to memory formation is explored in detail. From this research it seems possible that there could be a specific route for the formation of detailed and durable memories associated with emotional experiences. In the final chapter a cognitive account of flashbulb memories is outlined. This account is centred on recent plan-based theories of emotion and proposes that flashbulb memories arise in responses to disruptions of personal and cultural plans. This chapter also considers the wider functions of flashbulb memories and their potential role in the formation of generational identity.

Starting with the 16th century trade of Latin American silver and Chinese silk, leading researchers trace the economic, environmental and social history of the Pacific region. Chapters examine the trade of diverse commodities within the Pacific and analyse the ecological and social impacts of this increasing economic activity. The strong Chinese marketplace emerges as crucial to early Pacific development, and is compared with Japan's central role in the region's modern economy.

ASEAN economies as a group have signed free trade agreements with China, Japan, Korea, India and Australia/New Zealand. There is now a growing interest in forming a larger regional agreement. The ultimate goal is to operate economies more efficiently and achieve higher growth but the immediate task is to attain a higher level of integration. This book contributes to the literature on the analysis of regional trading arrangements. The book adopts the approach to pay great attention to the design and operation of production supply chains in the East Asian region. The book also provides a basis of the assessment on the progress of the Regional Comprehensive Economic Partnership (RCEP) to lead broader and deeper engagement that embodied in the existing ASEAN+1 agreements in which its participants were involved by identifying the key features of those agreements.

This book provides an economic perspective on the effects of food safety standards on international trade. Focusing on food safety regulation at an international level and private food safety standards, the authors use contemporary methodologies to analyze supply chain structures and organization as well as food-chain actors' strategies. They also evaluate the effects of these on both consumer health and developing countries' access to international markets. The book provides ideas, suggestions and policy recommendations for reconciling economic interests with consumer health, which will be of special interest to academics as well as to practitioners.

This title focuses on the rapidly growing economic and political influence that China has in Africa. Cutting-edge contributions from sixteen pan-African authors provide an historical and geo-political context for understanding the evolving partnership between Africa and China. The title features nine detailed country case studies and assesses China's Africa policy and interests in relation to those of other powers. It broadens the debate on this crucial topic and ensures that African voices enrich a discourse that could well determine the future of the continent.

In the late summer of 1984, the author and a group of his archaeology students excavated fragments of Chinese porcelain at the site of a Pomo Indian village a hundred miles north of San Francisco. How did these ceramics, which were more than a hundred years old, find their way to this remote area? And what could one make of local legend that told of Pomo women wearing Chinese silk shawls in the 1850's? The author determined to find the answers to these questions, never dreaming that his quest would eventually involve the lives of nineteenth-century Boston merchants, Baltimore shipbuilders, Bombay opium brokers, and newly rich businessmen in gold rush San Francisco.
The author soon learned that in 1850 the clipper "Frolic," a sailing ship built specifically for the Asian opium trade, had wrecked on the Mendocino coast, a few miles from the Pomo village. He unearthed the business records of its owners, A. Heard & Co., which showed that respectable Bostonians had made their fortunes running opium from India to China. The family histories of the firm's two most influential partners are traced from the American Revolution to their joint decision to order a custom-built Baltimore clipper for the opium trade. In describing the design, construction, and outfitting of the "Frolic," the author was aided by a stroke of luck--a slave named Fred Bailey, later known to the world as the abolitionist Frederick Douglass, worked in the "Frolic"'s shipyard in 1836 and wrote detailed descriptions of the building of such ships.
The "Frolic," under Captain Edward Faucon (who was depicted as the "good" captain in Richard Henry Dana's "Two Years Before the Mast") plied the opium trade from Bombay to China from 1845 to 1850. The author describes the political, financial, and logistical aspects of the profitable enterprise before 1849, when the introduction of steam vessels into the opium trade made the "Frolic" obsolete as an opium clipper. However, the California gold rush created a lucrative market for Chinese goods, and the Heard firm dispatched the "Frolic" to San Francisco with a diverse cargo that included silks, porcelain, jewelry, and furniture. When the "Frolic" wrecked on the Mendocino coast, the Pomo Indians salvaged its cargo, and the vessel's history passed into folk tradition.
The subsequent lives of those intimately associated with the "Frolic" are profiled. The owners' families preferred to forget the source of their fortunes, and prior to her death in 1942, the daughter of the "Frolic"'s captain burned her father's papers to preserve his reputation. She could not know that in 1965 sports divers would discover the remains of her father's opium clipper, and that 134 years after its wreck, the "Frolic"'s story would inspire an archaeologist-anthropologist to pursue its colorful history.

How does Ricardian specialisation affect economic development in relatively advanced countries? Keld Laursen, inspired by the myriad newly-emergent neoclassical/new industrial economics contributions, makes a detailed study of the role of specialisation and structural change in advanced economies. Until now, these theoretical contributions have not been subjected to a systematic empirical investigation. The three key questions are: * Do countries converge or diverge in terms of their specialisation patterns over time? * Can the role of technology explain the direction of national trade specialisation? * What are the implications of international specialisation patterns (and their changes) for economic growth? This study will be of immense interest to postgraduates and researchers working on theories and practices of innovation, trade, and growth.

In the aftermath of the Napoleonic Wars Britain found itself faced with a stagnant economy. Economist David Ricardo believed that the full re-integration of Britain into the world market would allow for both capital accumulation and population growth, and used arguments that anticipate ideas entertained in modern contributions to the theory of economic growth and development. However, several of these arguments have not yet been translated into the language of modern classical economics. Ricardo's Theory of Growth and Accumulation seeks to overcome this striking lacuna. The latest entry in the Graz Schumpeter lecture series, this text explores and elaborates Ricardo's arguments and the models utilized by those who subsequently followed in support of his work. The Ricardian system is first examined through a one-sector economy, following Kaldor's model, and a two-sector economy, following Pasinetti's model. These building blocks are developed through the exploration of a small open economy, which allows an analysis of the impact of international trade in exceedingly simple circumstances. This discussion expands further by considering the world economy. More sophisticated variants of the two-sector model are presented, in which commodity prices are endogenously determined by the trading interplay amongst several countries. A final analysis makes Ricardo's case by introducing accumulation in the world economy. This book is of interest to students and scholars of Ricardo, classical economics, and - more broadly - growth theory, the theory of international economics, and globalization. The author was keen to render the analytical parts compelling to the historian and the historical parts compelling to the theorist.