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