As the new millennium dawns, a new world order is taking shape. The political environment in which the global economy has to function is finally recovering from the bewilderment which followed the collapse of the bipolar system which had, in turn, come into being after World War Two. The aim of this book is to provide a discussion of the new world order as manifested by some of the changes which dominate the arena, specifically the dichotomy of concurrent attempts at globalization and regionalization of international trade and financial issues. The book is organized into four parts. Having set the stage in Part I, Part II deals with globalization issues, especially the World Trade Organization and its impact on global trade, as well as examining labor standards and reviewing the long-standing debate on trade policy. Part III provides an examination of some of the larger and more successful attempts at regional integration and regionalization of trade issues in Asia, the European Union, and the transitional economies of Central Europe.Finally, Part IV provides an analysis of one of the vehicles of bringing about the changes which are necessary to turn this still abstract idea into reality, namely the multinational corporations.
Contributors. Preface. Acknowledgements. Part I: Introduction. Introduction (K. Fatemi). Part II: Internationalism and the New World Order. From GATT to WTO (J.M. Lutz). The World Trade Organization: a progress report (S.D. Cohen). Labor standards as a trade issue (R.C. Shelburne). Reviving the trade debate (A.E. Eckes). Part III: Regionalism in the New World Order. Regional integration in Asia (M.E. Kreinin et al.). Open industrialization as a development strategy: the example of East Asia (C. Altomonte et al.). Expanding western hemispheric trade and integration (J.M. Patrick). The impact of EU membership on Portuguese exports of manufactures (A.P. Africano Silva). Changing patterns of foreign investment in the EU periphery and the EU enlargement (C. Corado). Privatization of the banking sector in transition economies: a comparative study of Hungary and Poland (K. Marton). Taxation and the location of foreign direct investment in Central Europe (D.P. Woodward et al.). Part IV: Multinational Corporations and the New World Order. The "Flying-Geese" paradigm: toward a co-evolutionary theory of MNC-assisted growth (T. Ozawa). Strategic alliances in the international airline industry: where has antitrust policy gone? (M.W. Pustay). Clarifying key market segmentation issues, domestic and international (G. Fennell et al.). References. Author index. Subject index.