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This book explains the definition, concepts, practices and procedures of Free Zone operations; how they are created, how they operate, and their benefits to the global and national economy.Readers will be able to understand why Free Zones exist, their role in the development and maintenance of international trade, and how they contribute to national and global economic development and wellbeing, especially in developing nations. The author explains the processes in the establishment of Free Zones, and how government legislation and initiatives assist in this process. The book comprehensively but accessibly covers the topics of Freeports, Free Zones, Export Processing Zones (EPZs) and Special Economoic Zones (SEZs), as well as issues such as Customs requirements, Free Zone law and government initiatives, including the new UK Freeport initiative. It analyses the role of such Zones in global economic development and considers the challenges and issues related to Free Zone development and operation, including security and potential crime. The book also provides a series of case studies into selected global examples of Free Zones, EPZs and SEZs.Freeports and Free Zones will have a broad readership, being of interest to global economic, fiscal and government institutions, policymakers, legal practitioners and advisers, economic and business advisers, port and airport authorities and major multinational enterprises. It will be especially relevant to the food, automotive, defence, manufacturing, logistics, Fast Moving Consumer Goods (FMCG), pharmaceutical, aviation and maritime industries.

The contemporary orthodox view of world trade has centred, generally unchallenged, on the ideas of free trade, based on the theoretical construct of comparative advantage. This book will engage in a critique of the orthodox position based on the underlying theoretical economic construct, the historical development of the now developed economies and the morally unsustainable position of the free-trade regime. The author examines alternatives such as Most Favoured Nation and Preferential Trading Agreements before making the argument in favour of Asymmetric Trading, where the underdeveloped economies can develop behind tariff barriers and quotas, whilst the triadic nations maintain a lack of barriers to the exports of these economies. He outlines how such a trading regime would be mutually beneficial in the long term, in the sense that development through industrialisation takes place and the increase in GDP per capita would allow markets for exports to be sustainable, thus widening the market for the goods and services of the developed economies. However, the author demonstrates that free trade actually increases the development gap by maintaining the status quo in terms of the underdeveloped economies specialising in and exporting low value-added primary products and importing high value-added manufactures.The book analyses contemporary and historical data to illustrate how an alternative trading regime can be truly advantageous to both the developed and underdeveloped regions of the world: a global trading regime that is capable of increasing GDP in a sustainable manner without transferring a surplus from the poor to the rich nations and without a long-term commitment on the part of the developed nations to altruism.

This comprehensive assessment of transpacific economic integration explores the many ways that new approaches to multilateral cooperation, and notably the Trans-Pacific Partnership (TPP), are transforming the regional landscape. Reflecting diverse views on the merits of new and wide-ranging agreements, the authors consider: To what extent will the TPP facilitate the US'pivot'to Asia at a time when China, not a TPP member, is attempting to shape regional economic dynamics? Will the Regional Comprehensive Economic Partnership, strongly backed by China, prove complementary or antagonistic to the TPP? How can countries throughout Latin America and Asia best secure benefits from emerging accords? As they engage with these and related issues/debates, they also provide informed assessments of the political and economic significance of the new agreements for the future of transpacific integration.

While trade integration has been an engine of global growth and prosperity some sectors have been negatively affected by increased imports competition, as expected in theory. Higher labor mobility could lower these adjustment costs. This paper measures the cost of trade integration in a context of high internal migration. Specifically, we focus on the 2004- 14 period of trade liberalization in Peru (a major beneficiary of trade integration). Despite significant migration in response to lower tariffs, we find a significant negative relation between tariff reduction and socioeconomic indicators of imports-competing districts. This underscores the need for policy action to support the “losers from trade liberalization”.

First published in 1929, this book was written to express the belief that nations'commercial policy and doctrines could best be explained by reference to their history. The author argues that this applies equally to legislation and theory, for example both the McKinley Act of 1890 and contemporaneous protectionism are examined as the culmination of a century's worth of legislative and theoretical progress. This edition is also updated from the original 1891 publication to take account of the effect of the First World War on the European and American tariff systems, and also how the preferential system of trade within the British Empire recast relations between Britain and its dominions.

First published in 1903, this collects together speeches given by H.H. Asquith to refute the charge that those who defended Free Trade at the turn of the century were ignorant or indifferent to actual and potential economic forces, and also clung to obsolete conceptions of the Empire. The author intends to vindicate Britain's contemporaneous fiscal system, not as academic dogma, but as a concrete and living financial policy. In pursuit of this he undertakes to expose what he argues are the'blunders of fact and logic'of the new protectionist campaign, illustrated with extracts from the speeches of the Chancellor of the Exchequer Austen Chamberlain — whose advocacy of protectionism provides the focus for the collected speeches.

Regional and bilateral free trade agreements (FTAs) have taken on greater significance amidst an evolving international trading environment. Member countries in FTAs agree to eliminate trade barriers on all or most goods and services traded among them. Uncertainties associated with global negotiations under the World Trade Organization (WTO) Doha Development Agenda, along with other factors, have contributed to an upsurge in bilateral and regional trade agreements. This book examines the possible impacts on U.S. agricultural trade of two recently implemented FTAs in which the United States is not a partner; the FTAs between the ASEAN countries and China and between the ASEAN countries and Australia/New Zealand. Also discussed is the potential effects on U.S. agricultural exporters of pending bilateral TAs between the United States and Korea, Colombia, and Panama.

The economic debate over free trade versus protectionism is as relevant today as it was in the mid-nineteenth century, when the scathing takedown Sophisms of the Protectionists was first published. French economist Frederic Bastiat meticulously dismantles the arguments in favor of protectionism and unleashes a rousing battle cry in favor of unfettered trade.

After ten years the Doha Development Round is effectively dead. Although some have suggested that Doha's demise threatens the continued existence of the GATT/WTO system, even with some risks of increasing protectionism, the United States, the European Union, Japan, Brazil, China and India, among others, have too much to lose to make abandoning the WTO a rational option. There are alternatives to a comprehensive package of new or amended multilateral agreements, including existing and future'plurilateral'trade agreements, new or revised regional trade agreements covering both goods and services, and liberalized national trade laws and regulations in the WTO member nations. This book discusses these alternatives, which although less than ideal, may provide an impetus for continuing trade liberalization both among willing members and in some instances worldwide.

The past two decades have seen exciting changes with developing countries emerging as exporters of services. Technological developments now make it easier to trade services across borders. But other avenues are being exploited: tourists visit not just to sightsee but also to be treated and educated, service providers move abroad under innovative new schemes, and some developing countries defy traditional notions by investing abroad in services.'Exporting Services: A Developing Country Perspective'takes a brave approach, combining exploratory econometric analysis with detailed case studies of representative countries: Brazil, Chile, the Arab Republic of Egypt, India, Kenya, Malaysia, and the Philippines. Two questions lead the analysis: How did these developing countries succeed in exporting services? What policy mix was successful and what strategies did not deliver the expected results? The analysis evaluates the role of three sets of factors: First, the fundamentals, which include a country's factor endowments, infrastructure, and institutional quality; second, policies affecting trade, investment, and labor mobility in services; and third, proactive policies in services designed to promote exports or investment. The case studies illustrate the complex nature of reforms and policy making in the service sector as well as the benefits of well-implemented reforms. Although success seems to be explained by a set of conditions that are difficult to replicate, common features can also be identified. Several countries have adopted policies to support exports, especially exports of information technology–related services. This resource will be valuable for policy makers, experts, and academics who are engaged in efforts to reform service and investment policies in their own country.

Chapter 1 - Introduction to International Trade Chapter 2 - Heckscher-Ohlin Model Chapter 3 - New Trade Theory and Gravity Model of Trade Chapter 4 - Mercantilism Chapter 5 - Balance of Trade Chapter 6 - Absolute Advantage and Comparative Advantage Chapter 7 - International Trade Law and Monopolistic Competition in International Trade Chapter 8 - Globalization Chapter 9 - Proto-globalization Chapter 10 - International Trade Chapter 11 - Free Trade Chapter 12 - Free Market

International trade seems on its surface fairly straight forward. However, beneath the seeming simplicity lies a dynamic complexity which was first conceptualized centuries ago. Today international trade is ingrained in our lives, with great economic, societal, and political implications. The ideal state of'free trade'occurs when buyers and sellers are free to negotiate prices without restrictions imposed by third parties. Protectionism occurs when countries restrict free trade for a variety of reasons. We will examine why nations restrict free trade, even in the face of classic trade theory which eloquently demonstrates that trade is beneficial. We will explore the arguments both for and against the expansion of international trade, and the means by which expansion can be accomplished. We conclude with an examination of the current state of free trade in the modern world.

Free trade is a type of trade policy that allows traders to act and transact without interference from government. Thus, the policy permits trading partners mutual gains from trade with goods and services produced according to the theory of comparative advantage. Under a free trade policy, prices are a reflection of true supply and demand, and are the sole determinant of resource allocation. Free trade differs from other forms of trade policy where the allocation of goods and services amongst trading countries are determined by artificial prices that do not reflect the true nature of supply and demand. These artificial prices are the result of protectionist trade policies, whereby governments intervene in the market through price adjustments and supply restrictions. Such government interventions generally increase the cost of goods and services to both consumers and producers. Interventions include subsidies, taxes and tariffs, non-tariff barriers, such as regulatory legislation and quotas, and even inter-government managed trade agreements such as the North American Free Trade Agreement (NAFTA) and Central America Free Trade Agreement (CAFTA) (contrary to their formal titles.)--any governmental market intervention resulting in artificial prices that do not reflect the principles of supply and demand. This new and important book gathers the latest research from around the globe in this dynamic field with a focus on: trade relations with China, Brazil, South Korea, Canada, Australia and the Middle East among others.

Drawing on candid accounts from practitioners, producers and industry representatives, this informative and proactive volume investigates the challenges facing today's fair trade movement and provides unique insights into the workings of social and economic power in world markets. Using original, in-depth empirical data, Anna Hutchens develops several new approaches to understanding power, governance and social change across the broad interdisciplinary fields of development, economics and politics. Emphasising fair trade's entrepreneurs, this book investigates the creation of innovative commercial fair trade business models that are often neglected in fair trade research but are crucial to the fair trade movement's survival in commercial markets. As corporate involvement in fair trade markets grows, these models will be the key variable for the sustainability of fair trade into the future. This book will be warmly welcomed by academics in the fields of economics, political science and sociology working on free trade and fair trade. International non-government organisations, such as Oxfam, and international fair trade networks will find this book invaluable. Government officials (particularly in the EU Commission and parliamentarians) working on fair trade and/or trade-and-development policy and analysis will also find this book of particular interest.

This book makes an intensive review of the literature on trade liberalization and its impacts on growth and distribution in developing countries. Moreover, the authors scrutinize some controversial national initiatives that are gradually fragmenting the international economic field. The urgent need that multilateral institutions have to push trade higher up in the list of the political priorities is emphasized. In addition, the biggest producers and exporters of agricultural products have been adopting the genetic engineering in order to improve the factors productivity and the firms profits. The authors examine the potential motivations behind the different policies on GM products adopted by US and EU. Additionally, the welfare effect of bilateral free trade agreement (FTA) in a vertical trade structure is investigated in this book. A three-country model is considered with one country exporting intermediate good and two countries exporting final good. Other chapters explore the major theories of international trade from antiquity up to the neoclassical economics in the latter part of the nineteenth century. Effective trade policies for developed countries today are also discussed, as well as international trade, both exports and imports, in countries such as India and China. It is the authors contention that these two countries pose particular challenges and offer particular opportunities in the evolving trade-development nexuses.

As the Doha Development Round trade negotiations have stalled, bilateral and regional free trade agreements have become an important alternative. These agreements have proliferated in recent years, and now all of the major trading countries are engaging in serious bilateral and regional trade negotiations with multiple trading partners. This book provides a comprehensive study of recent bilateral and regional trade agreements. There are two main aspects. First, it situates bilateral and regional trade agreements in the context of economics, international law and international relations. Second, it surveys the most important recent agreements in relation to each substantive topic covered (e.g. intellectual property, investment, services and social policy) and provides an overview of the law being created in these areas.

Since the early 1990s the world has seen an explosion of preferential trade agreements (PTAs) between North and South. Mark Manger argues that current North-South PTAs are not primarily about liberalizing exports as is usually assumed. Rather, they are driven by the needs of foreign direct investment. The interests of multinational firms in investing in developing countries converge with the desires of the host countries to attract foreign capital. Yet to be politically feasible in the developed country, North-South PTAs must discriminate against third countries. PTAs thus create a competitive dynamic between countries, as excluded firms lobby their governments to restore access to important investment locations, leading to yet more preferential agreements. Based on extensive research in Europe, Japan, and the Americas and interviews with decision-makers in governments and the private sector, this book offers a new perspective on the roles of the state and corporations in international trade.

Orthodox trade and growth theory, and the world's multilateral development institutions, extol the virtues of trade liberalisation and free trade for more rapid economic development of poor countries. However, the contemporary reality and history seem to tell a different story. The world economy has experienced an unprecedented period of trade liberalisation in the last thirty years, and yet international and global inequality is widening; domestic poverty (outside of China) is increasing; poor countries'exports have grown more slowly than their imports leading to balance of payments crises, and the so-called globalising economies of the world (excluding China and India) have fared no better, and in some cases worse, than those countries that have not liberalised so extensively. This book argues that orthodox theory is based on many unreal assumptions, and that there are sound economic arguments for selective protection of industrial activities in the early stages of economic development. The historical evidence of the now-developed countries also illustrates this fact.With supporting empirical evidence, this book provides a powerful theoretical critique of orthodox trade theory. It will be of great interest to students taking courses in international trade and development economics, as well as to professional economists and policymakers in international development institutions.

Razeen Sally argues forcefully that international trade policy has lost its way. Trade policy has become disconnected from 21st century business and consumer realities. The World Trade Organization and free trade agreements have outdated negotiating models and yield diminishing returns. The world's fastest growing economies are those in Asia that have embraced freer trade and global integration unilaterally, without waiting for trade negotiations. Hence, the priority should be bottom-up unilateral liberalization, with China's opening to the world economy leading the way and setting the example for others in Asia and beyond. Liberalization should now focus more on domestic regulatory barriers. The post-Doha WTO will still be important, but more as a forum for strengthening trade rules than for driving further liberalization. The biggest danger, though, is complacency and reform fatigue, which threatens to halt globalization's advance. Sally makes a vigorous case for the benefits of free trade and provides a penetrating analysis of the dangers confronting the world trading system. Inspired by the precepts of Adam Smith and David Hume, he sets out practical prescriptions for getting trade policy back on the rails as part of a refreshed agenda for freer trade and freer markets that is relevant to the rise of Asia and 21st century globalization. Informative; well-argued; and, above all, highly readable, this book is a stimulating contribution to the emerging debate on where trade policy should go in the post-Doha world.

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 the book accessible to those without an extensive economic background.

This comprehensive book addresses one of the most important aspects of international trade, namely, regional trade and regional integration agreements (RIAs). The focus of intense global interest and debate over the last decade, RIAs have become an integral and enduring aspect of the multilateral trading regime. Dilip K. Das analyzes the latest trends, evaluates the pattern and gauges the progress of regional integration in the global economy over the post-war, and especially the contemporary, periods. At present approximately half of the world's trade is intra-RIA. Virtually all 146 members of the World Trade Organization are partners in at least one RIA, and several are part of two or more. While some economists believe that this proliferation of RIAs should be welcomed, others are less sanguine and emphasize the importance and primacy of multilateral trade liberalization. Dilip K. Das examines whether regionalism has a rightful place in a rapidly globalizing world economy. The role of RIAs in the global trading system is explored as well as their role in promoting economic development, their welfare implications and whether they adversely affect the global trading system. The principal foci of the book include the impact of RIAs'market access provisions and trade regulatory functions on international trade relations.Academics, researchers, and students in the areas of economics, international political economy, political science, international relations, regionalism, and business will find this timely volume of great interest.

'A copublication of the World Bank and Oxford University Press.'

At head of title: United Nations Conference on Trade and Development.

Have regional trade agreements led to a new form of economic cooperation by promoting deeper integration in the regulatory structures of participating countries? The answer has profound i m p l ications for the future of multilateral cooperation and international economic relations. Regional trade agreements have led to deeper integration in a number of fields, and recent agreements are generally more effective than the more remote WTO procedures in facilitating t rade and improving transparency. There is no single model for deeper i n t e g ration and each t rade agreement is the result of attempts to achieve very different policy objectives. But Regionalism, Multilateralism, and Economic Integration finds that regional processes and rules have been consistent with the multilateral obligations of each party. WTO rules therefore constitute a floor that underpins additional commitments in the regional agreements.

'Published with the Center for Strategic and International Studies, Washington, D.C.'

Revised version of a report published by the World Bank in the Policy research working papers trade policy series.

Edited by Ana María Martirena-Mantel, this volume, published in Spanish and English, contains the papers presented at a seminar sponsored jointly by the IMF and the Instituto Torcuato di Tella of Argentina. The seminar was held in Don Torcuato, near Buenos Aires. The volume consists of six papers, commentaries, and an overview by the editor, who also acted as moderator at the seminar.