International trade, and its financing, is now a key component of many undergraduate and postgraduate qualifications. For anyone involved in international sales, finance, shipping and administration, or for those studying for academic or professional qualifications in international trade, The Handbook of International Trade and Finance offers an extensive and topical explanation of the key finance areas. This essential reference resource provides the information necessary to help you to reduce risks and improve cash flow, identify the most competitive finance alternatives, structure the best payment terms, and minimize finance and transaction costs. This fully revised and updated 4th edition of The Handbook of International Trade and Finance also describes the negotiating process from the perspectives of both the buyer and the seller, providing valuable insight into the complete financing process, and covering key topics such as: trade risks and risk assessment; structured trade finance; methods and terms of payment; currency risk management and bonds, guarantees and standby letters of credit. The Handbook of International Trade and Finance provides a complete and thorough assessment of all the issues involved in constructing, financing and completing a cross-border transaction, as an indispensable guide for anyone dealing with international trade. The new edition also includes a section on risk management, which plays an increasingly important role in international trade from currency fluctuations to political risk and natural disasters. N.B. This covers the principles of international trade and finance that are common across the globe and is relevant to anyone wanting to understand the subject, wherever they are located. Specific national issues (such as the UK's Brexit decision) do not affect the content. Online supporting resources include PowerPoint lecture slides.

The politics of international trade have changed dramatically over the past 20 years. Advances in technology have spurred a new kind of 'trade' involving transfers of components and materials across borders but within firms. Trade in services, foreign direct investment and sales by affiliates of foreign-owed companies have grown more rapidly than trade in goods, making national rules and regulations more significant barriers to trade. The effects of 'non-trade' policies on trade have engaged new actors in trade politics, not least in the European Union (EU). The emergence of a more active bloc of developing countries alongside a vibrant international civil society, including environmental and consumer groups and ministries, have made trade politics increasingly lively, complex, and challenging for the EU. Meanwhile, the World Trade Organization has become not only a primary focus for EU trade policy but also a lightning rod for protest, a powerful 'legaliser' of trade diplomacy, and an arena where it is often difficult, even impossible, to separate private from public interests. The European Union and the New Trade Politics provides a state of the art analysis of how the EU shapes and is shaped by the 'new' trade politics. This book was previously published as a special issue of The Journal of European Public Policy.

The world has now faced the most severe global economic crisis since the Great Depression of the 1930s. Governments have responded to the crisis with many initiatives, often with implications for the openness of their national economies to global markets. While the primary objectives have been to support demand and thus economic activity and employment, recognition of cross-border spillovers has led to calls for international cooperation and to refrain from beggar-thy-neighbour measures. Arguably these calls have been heard. Efforts have been made to coordinate policy responses, through the G20 and other fora. As recovery becomes an ever greater prospect in late 2009, the question arises as to whether current, primarily non-binding inter-governmental cooperation will be sustained. Protectionist pressures may increase as trade recovers, imports into markets expand, and job growth still lags. Also, many governments are left with little margin for manoeuvre in fiscal and monetary policy, and in the event of an economic relapse, trade and industrial policies threaten to become the default stop-gap. The purpose of this book is to examine the ways in which the existing manifestations of openness, including binding international accords, have constrained or enhanced the options available to national policymakers during the crisis and influenced the degree, and potentially even the effectiveness, of cross-border cooperation. By examining state responses during the crisis in a number of distinct policy domains, the different chapters reveal potential complementarities and tensions as governments seek to tackle sharp national recessions while being mindful of the growing role that the international dimension has played in influencing national economies in an era of globalization.

This book presents a wide range of new research on the Chinese treaty ports the key strategic places on China s coast where in the late nineteenth and twentieth centuries various foreign powers controlled, through "unequal treaties," whole cities or parts of cities, outside the jurisdiction of the Chinese authorities. Topics covered include land and how it was acquired, the flow of people, good and information, specific individuals and families who typify life in the treaty ports, and technical advances, exploration, and innovation in government."

Rapidly growing investment in Southeast Asia poses a major strategic and organizational challenge for European transnational corporations. In addition to establishing and maintaining profitable businesses in these strongly local markets, transnationals now have to integrate their Southeast Asian operations into their global strategies and operations. Transnational Corporations in Southeast Asia presents an institutional economic approach which describes and explains the local and regional organization of seventeen European transnational corporations in Southeast Asian markets in relation to their worldwide organization. Focusing on the period from 1984 to 1991, the book also includes a detailed account of the establishment strategies of these corporations and their major operations in the region. Professor Jansson utilizes a transaction-cost theory to explain behaviour within the European transnational corporations. Providing researchers, students and business analysts with detailed information on the experience of key transnational corporations in Southeast Asia, this important book also offers an assessment of the effects of marginal activities on multinational corporations in areas far away from their home base.

Primary commodities - food, raw materials, fuels and base metals - continue to be a substantial proportion of the exports of many developing countries and account for over 40 per cent of world trade. The determinants of primary commodity prices, and the terms on which they are traded for manufactured goods, are topics of considerable importance for development economists.The Economics of Primary Commodities brings together in one volume important new work by a group of leading scholars on the economic analysis of primary commodity markets. Their detailed coverage of major recent developments in the field include discussion of modelling and policy issues. Topics addressed include excess co-movement of commodity prices, the stabilization of earnings in volatile commodity markets, a macroeconomic framework for trade terms between north and south, and the influence of economic policy on commodity markets. The essays should provide the reader with an overview of the current 'state-of-the-art' and a useful platform on which future research might be based. This book will be welcomed by academic researchers, practitioners and postgraduate students concerned with the economics of trade, economic development and international economics.

This is the first in-depth study of the early trial-and-error experiences of contracting between Japanese and western merchants trading in the Japanese Treaty Ports in the eighteen year period immediately following the opening of the ports in 1859. Fundamental to the equation were the inevitable east-west cultural and legal ambiguities that impacted on the traders. The learning curve for both westerners and Japanese regarding the nature and application of western contracting law was predictably difficult, tortuous and open to constant misunderstanding. Nevertheless, it was within such a framework that the principal benchmarks for trade with Japan were set down and which, in essence, have lasted to the present day.

This book analyzes the competitive forces which dominate this major sector, and traces how the nature of competition has evolved during the last two hundred years. Through an analysis of key factors, including demand, related and supporting industries, firm strategy, structure and national rivalry, chance and government policy, the author explains how and why the locus of competitive advantage in textiles and apparel has moved from country to country, particularly in the period since 1945.

The History of Mitsubishi Corporation in London examines the culture clashes, the friendships and the changing businesses that Mitsubishi Corporation's London branch oversaw in the eighty-five years following its foundation. It examines the paradox of how Mitsubishi Corporation could operate internationally for nearly a century, and still remain resolutely Japanese. With the slowdown in Japanese economic growth however, this book asks whether the corporation needs to change its mission, as well as controversially questioning whether information technology is in fact a barrier to, rather than a driving force for, successful globalization. As a long-term employee of Mitsubishi both in Tokyo and London, Pernille Rudlin has a unique perspective on the world of Japanese corporate culture in Britain. No other corporate history has examined a Japanese subsidiary in such detail, including interviews with more than thirty employees past and present.

This handbook aims to provide a better understanding of GATS and the challenges and opportunities of the ongoing negotiations. For users who are familiar with the General Agreement on Tariffs and Trade (GATT), similarities and differences are pointed out where relevant. Likewise, for users who are familiar with the balance-of-payments definition of 'trade', departures from the Agreement's coverage are explained. To stimulate further thinking about the core concepts and implications of the Agreement, several text boxes have been included to provide 'food for thought', and at the end of each chapter test questions have been added to recapitulate and ensure understanding of the core content.

Trade policy in the United States since 1930 is rigorously evaluated in this major new book. Using public choice analysis to identify and explain protectionist behavior, Charles K. Rowley, Willem Thorbecke and Richard E. Wagner demonstrate why unilateral free trade cannot be achieved through the normal political process and make a strong case for constitutional reform.Trade Protection in the United States analyzes the history of US trade policy to explain why interest groups are able to foster protectionist policies despite the advantages which free trade offers consumers. The authors also explain why the principles of managed trade - as epitomized in the institution of the GATT - are inevitably subverted by protectionism. This important book concludes with a vigorous justification of unilateral free trade and makes a convincing case for protecting the freedom to trade through an amendment to the US constitution. Applying recent developments in constitutional political economy to a key policy issue, this book will be welcomed by economists, political scientists and lawyers as a major statement of the right to trade.

In recent years economic activity has become increasingly globalized. One of the main instruments behind this process is the multinational enterprise. In The Globalization of Business, first published in 1993, John Dunning explores the latest issues in the world of international business and looks ahead at the remaining years of this century identifying the likely challenges of the future. What are the challenges posed by the technological, political and economic developments of the 1990s for international business? What are the implications of the opening up of new territories such as in Central and Eastern Europe and parts of China? To what extent are the competitive advantages of nation states increasingly coming to depend on the presence of multinational activity? What are the implications of the globalization of markets and production for the domestic economic policies of governments? This collection of essays will be vital reading to students of international business.

The need to reduce disability and premature deaths from non-communicable diseases (NCDs) is increasingly engaging international organisations and national and sub-national governments. In this book, experts from a range of backgrounds provide insights into the legal implications of regulating tobacco, alcohol and unhealthy foods, all of which are risk factors for NCDs. As individual countries and the international community move to increase targeting of these risk factors, affected industries are turning to national and international law to challenge the resulting regulations. This book explores how the effective regulation of tobacco, alcohol and unhealthy foods can be achieved within the context of international health law, international trade and investment law, international human rights law, international intellectual property law, and domestic laws on constitutional and other matters. Its contributors consider the various tensions that arise in regulating NCD risk factors, as well as offering an original analysis of the relationship between evidence and health regulation. Covering a range of geographical areas, including the Americas, the European Union, Africa and Oceania, the book offers lessons for health and policy practitioners and scholars in navigating the complex legal fields in which the regulation of tobacco, alcohol and unhealthy foods takes place.

Delays in approving genetically modified crops and foods in the European Union have led to a high profile trade conflict with the United States. This book analyses the EU-US conflict and uses it as a case study to explore the governance of new technologies. The transatlantic conflict over GM crops and food has been widely attributed to regulatory differences that divide the EU and the US. Going beyond common stereotypes of these differences and their origins, this book analyses the conflict through contending coalitions of policy actors operating across the Atlantic. Governing the Transatlantic Conflict over Agricultural Biotechnology focuses on interactions between the EU and the US, rather than on EU-US comparisons. Drawing on original research and interviews with key policy actors, the book shows how EU-US efforts to harmonise regulations for agricultural biotechnology created the context in which activists could generate a backlash against the technology. In this new context regulations were shaped along different lines. Joseph Murphy and Les Levidow provide new insights by elaborating critical perspectives on global governance, issue-framing, standard-setting and regulatory science. This accessible book will appeal to undergraduate and post-graduate students, academics and policy-makers working on a wide range of issues covered by political science, policy studies, international relations, economics, geography, business management, environmental and development studies, science and technology studies.

Researchers have been addressing social judgment from a cognitive perspective for more than 15 years. Within recent years, however, it has become increasingly clear that many of the models and assumptions initially adopted are in need of revision. The chapters in this volume point out where the original models and assumptions have fallen short, and suggest directions for future research and theorizing. The contributors address issues related to judgment, memory, affect, attitudes, and self-perception. In addition, many present theoretical frameworks within which these different issues can be integrated. As such, this volume represents the transition from one era of social cognition research to the next.

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.

Elizabeth Emma Ferry traces the movement of minerals as they circulate from Mexican mines to markets, museums, and private collections on both sides of the US-Mexico border. She describes how and why these byproducts of ore mining come to be valued by people in various walks of life as scientific specimens, religious offerings, works of art, and luxury collectibles. The story of mineral exploration and trade defines a variegated transnational space, shedding new light on the complex relationship between these two countries and on the process of making value itself.

This comprehensive and accessible book examines the evolution of the multilateral trade regime in the ever-changing global economic environment, particularly during the WTO era and the ongoing Doha Round. Professor Das explores how the creation of the multilateral trade regime, or the GATT/WTO system, has been fraught with difficulties. He describes the ways, by means of various rounds of negotiations, the multilateral trade regime has constantly adjusted itself to the new realities of the global economy. One glance at the recent history indicates that the evolution of the multilateral trade regime was far from even-handed and steady. The GATT/WTO system was repeatedly pushed to the brink of utter and ignominious disaster. Yet, as the author illustrates, the participating economies persevered. Consequently, the fabric of multilateral trade regime is stronger, its foundation deeper and its framework wider now than it was a generation ago. Unlike the GATT era, membership of the present trade regime is close to universal. The author concludes that of the two phases, the latter has turned out to be the more arduous, intricate and complex phase of evolution. Students and scholars of economics, international trade, international political economy and international relations will find this study of great interest. The definitions and explanations of terminology and advanced concepts make this book accessible to those without an extensive economic background.

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.

This collection of research papers explores the impact of the Arab uprisings on the politics and political economy of foreign aid provision in the MENA region. Contributions focus on the foreign assistance policies and strategies of key donors (United States, Europe, Gulf countries and Turkey), and on the relationship between donors and recipients of foreign aid in a select set of MENA cases (Tunisia, Egypt, Palestine and to a lesser extent Morocco). Despite widespread rhetoric among lead donors pledging to support the transformational potential of the Arab uprisings, the contributions find a more complex pattern in foreign aid provision since 2011. Among Arab donors, who have played a significant role as providers of aid to states most affected by mass protests, trends in foreign assistance reflect the competing priorities of donors, and their willingness to politicize aid provision in pursuit of their strategic interests. Among Western donors, authors find a high degree of continuity. Chapters that focus on Western donors seek to account for continuity on the part of Western governments and the EU at a moment of profound transformational potential. Two factors, bureaucratization and securitization, capture most of the explanations provided, which take into account a variety of local dimensions as well. Contributions also discuss the changing assistance environment, namely the globalization of foreign assistance, the complex bureaucratic arrangements presiding over the delivery of European and US aid, and the role of regional and international non-democracies in the provision of foreign assistance. This book was published as a special issue of Mediterranean Politics.

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.

Foreign direct investment in the natural resource industries is fostered through the signing of concession agreements between the host State and the investor. However, such concessions are susceptible to alteration by the host State, meaning that many investors now require the insertion of stabilization clauses. These are provisions that require the host State to agree that they will not take any administrative or legislative action that would adversely affect the rights of the investor. Arguing that it is necessary to have some form of flexibility in concession agreements while still offering protection of the legitimate expectations of the investor, Resource Nationalism in International Investment Law proposes the insertion of renegotiation clauses in order to foster flexible relationships between the investor and the host State. Such clauses bind the parties to renegotiate the terms of the contract, in good faith, when prevailing circumstances change. However these clauses can also prove problematic for both State and investor due to their rigidity. Using Zambia as a case study, it highlights the limitations of the efficient breach theory to emphasise the need for contractual flexibility.

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.