Challenges to the Global Trading System: Adjustment to Globalization in the Asia-Pacific Region

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International trade continues to expand robustly in East Asia and elsewhere, but global trade negotiations have collapsed and globalization is widely criticized.

In this book, the participants of the thirtieth Pacific Trade and Development Conference—including the then-Director General of the World Trade Organization, and leading government officials, academics and executives from a dozen major Pacific Rim economies—debate whether global negotiations have ended once and for all, or are suffering temporarily from ‘globalization fatigue;’ whether East Asia’s new regional partnerships will advance or undermine the global trading system; and whether the region’s trade tensions with the United States will intensify or subside. They provide new empirical evidence on how trade affects the distribution of income, the location of pollution-intensive industries, the causes of ‘outsourcing,’ the structure of the intellectual property regime, and international security. And they probe the implications of adjustment to globalization: how can countries reap the benefits of trade while controlling the risks faced by the poor and, perhaps more importantly, the politically strong?

Challenges to the Global Trading System is an invaluable resource for students and scholars of Asia-Pacific studies, international relations and development studies, as well as those with a more general interest in Asian studies.

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Product Details

Table of Contents

List of figures     vii
List of tables and boxes     viii
List of contributors     x
Preface     xiii
List of abbreviations     xv
New challenges to the global trading system   Sumner J. La Croix   Peter A. Petri     1
The challenge of policy in the era of globalization   Supachai Panitchpakdi     9
Globalization fatigue, not globalization backlash   Douglas A. Irwin     15
The emergence of 'intra-mediate trade': implications for the Asia-Pacific region   Yumiko Okamoto     21
The political economy of the proliferation of FTAs   Yung Chul Park   Shujiro Urata   Inkyo Cheong     43
US trade policy towards China: discrimination and its implications   Chad P. Bown   Rachel McCulloch     58
Does trade lead to a race to the bottom in environmental standards? Another look at the issues   Erlinda M. Medalla   Dorothea C. Lazaro     83
What's new about outsourcing?   Justin Yifu Lin   Ying-Yi Tsai     115
Have developing countries gained from the marriage between trade agreements and intellectual property rights?   Sumner J. La Croix   Denise Eby Konan     131
Economicinterdependence and security in the Asia Pacific   Rong-I Wu   Chyuan-Jenq Shiau   Chi-Chen Chiang     155
Policy Perspectives     183
Practitioner's perspectives on trade and development   Mari Pangestu     184
US trade strategy and the Asia-Pacific region   Lisa Coen     190
Balancing regional and multilateral commitments: the case of Iceland   Geir H. Haarde     192
Globalization and politics   Doug Bereuter     194
Business Perspectives     197
New dimensions of globalization   Narongchai Akrasanee     198
California: a microcosm of Pacific Rim trade issues   Richard M. Rosenberg     200
Globalization at the University of Hawaii   David McClain     203
Competition and fairness in the execution of globalization   Arthur L. Goldstein     205
International opportunities and national choices   Pang Eng Fong     209
Academic Perspectives     211
Adverse trends in trade negotiations   Peter Drysdale     212
Sustaining the multilateral trading system   Hugh Patrick     215
Adjustment, compensation and contingent protection   Peter A. Petri      217
First- and second-order adjustments to globalization   Hadi Soesastro     220
Managing adjustments to globalization   Kim Song Tan     222
Index     224
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