This edited volume contains papers presented at the Twentieth Pacific Trade and Development Conference. The editors contribute an introductory article; a dozen additional papers are organized into three sections: the international economic system, regional institutional arrangements, and systemic implications of Pacific dynamism. In the first section John Whalley has an insightful article on GATT, and Soogil Young discusses the place of an East Asian trading bloc in a global economic system. In the next section, H. Edward English and Murray G. Smith examine NAFTA and conclude that NAFTA may foster the formation of new regional trading arrangements in the Asia-Pacific region. Peter Drysdale and Ross Garnaut survey and analyze trade in the Pacific region and see additional gains from trade liberalization in the region. The final section of this work contains articles on direct investment, the Japanese yen, human capital flows, environmental issues, and post-Cold War security implications. An excellent work for those interested in the economic dynamics of the Pacific region.
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