Economic integration in the 21st century is driven largely by market signals, rather than by inter-governmental trading arrangements. It also means much more than “free trade.”…
Abstract
Economic integration in the 21st century is driven largely by market signals, rather than by inter-governmental trading arrangements. It also means much more than “free trade.” Integration needs to consider all of the ways economies are connected in international markets, including trade in goods, services ideas and information, along with essential and complementary international movements of people and capital.
Except for a small number of sensitive products, especially in agriculture, most goods and services face no, or very low, formal trade barriers. Reducing border protection of the remaining sensitive products will certainly require negotiations, but they are no longer the most strategic obstacles to economic integration.
These days, the problems of most concern of those engaged in international commerce are logistics, communications, coping with security concerns and with different regulations in other economies. The effective constraint to designing and implementing cooperative arrangements to reduce such costs or risks of international commerce is the capacity to do so, rather than political resistance. Inter-governmental negotiations are not always necessary to deal with these practical issues.
Therefore, it should be possible to have a logical division of effort between APEC and the WTO in the Asia Pacific with the WTO dealing with those issues that do need to be negotiated; and APEC dealing with the many other issues where negotiations are not needed. In the longer term, an efficient division of labour could also emerge between the G20 and the WTO.
Details
Keywords
Peter Drysdale and Andrew Elek
Presents an essay on Asia Pacific Economic Co‐operation (APEC), an innovative and flexible form of co‐operation designed to accommodate the diversity of the economies on the…
Abstract
Presents an essay on Asia Pacific Economic Co‐operation (APEC), an innovative and flexible form of co‐operation designed to accommodate the diversity of the economies on the Pacific Rim. The main challenge for the APEC process is finding a workable compromise between different approaches to economic co‐operation. Points out that the structure of APEC will need great flexibility to accommodate the declining influence of the USA in the Asia Pacific and the increasing strength of the Chinese and South East Asian economies compared to both Japan and the USA. Appendix contains an executive summary of the targets which were agreed by APEC governments, at Bogor, Indonesia, in 1994, in order to realize their vision of free and open trade and investment.
Details
Keywords
Begins by considering whether the economic theory of the supply, nature and demand for biographies developed by James M. Buchanan and Robert Tollison might apply to this…
Abstract
Begins by considering whether the economic theory of the supply, nature and demand for biographies developed by James M. Buchanan and Robert Tollison might apply to this autobiography. Outlines Tisdell’s experiences in his pre‐school years (1939‐1945), at school (1946‐1956) and as a university student (1957‐1963). Covers the period of his first appointment as a temporary lecturer at the Australian National University (1964) and of his postdoctoral travelling scholarship (1965) which took him to Princeton and Stanford and the period of his employment from 1966 onwards. His family and its history are given particular attention.
The Asian crisis, which exploded in Thailand in July 1997 initially, spilled to the other ASEAN countries (Indonesia, Malaysia, and Philippines) and later it spreads to Korea and…
Abstract
The Asian crisis, which exploded in Thailand in July 1997 initially, spilled to the other ASEAN countries (Indonesia, Malaysia, and Philippines) and later it spreads to Korea and even crossing the continent to Russia and Brazil. The chronological pattern seems to indicate the contagious behaviour of the crisis. However, the sequential economic down‐turns that occurred in the Asia Pacific do look like a contagion effect. The idea that currency speculators contributed to the depth of the crisis is agreeable but to conclude that they are the roots of the problem would be misleading. This paper argued that the roots of the problems lie in current account deficit and loss of competitiveness, and moral hazard and over‐investment This paper also argued that the currency crisis is a symptom and not the cause of the Asian crisis.
Building a large trading bloc tends to produce substantial economic gains, while minimizing economic losses from overlapping FTAs. East Asia has tried to generate the impetus for…
Abstract
Building a large trading bloc tends to produce substantial economic gains, while minimizing economic losses from overlapping FTAs. East Asia has tried to generate the impetus for promoting region-wide trading blocs, but most of those blocs have been overlapped and multilayered. This paper reviews the evolution of East Asian regionalism from the APEC FTA under the 1994 Bogor Goal to recent RCEP promoted in 2013. This paper underlines that the continued expansion of multilayered trading blocs in East Asia works as a serious obstacle to regional economic integration, rather than exploring the realization of a region-wide trading bloc.
Details
Keywords
As our correspondent on another page suggests, the economic crisis may have reactions upon libraries. The most obvious one he mentions is the increased difficulty we shall…
Abstract
As our correspondent on another page suggests, the economic crisis may have reactions upon libraries. The most obvious one he mentions is the increased difficulty we shall experience in obtaining American books. Not all libraries, public or private, make any special collection of books published in the United States, although there has been an increasing tendency to buy more as the relations of the two countries have grown closer through their common struggle; in fact, we know libraries which have spent many hundreds of pounds in the course of the past year or two on the select lists of books which have been made for us by American librarians. It is most unfortunate that the manipulation of dollar currency should have brought about a situation in which even the exchange of ideas between the countries becomes more difficult. One suggestion might be made and that is that our American colleagues should continue to sift the literature of this time of famine for us, so that further select lists may be available in better days.
THE Reference Department of Paisley Central Library today occupies the room which was the original Public Library built in 1870 and opened to the public in April 1871. Since that…
Abstract
THE Reference Department of Paisley Central Library today occupies the room which was the original Public Library built in 1870 and opened to the public in April 1871. Since that date two extensions to the building have taken place. The first, in 1882, provided a separate room for both Reference and Lending libraries; the second, opened in 1938, provided a new Children's Department. Together with the original cost of the building, these extensions were entirely financed by Sir Peter Coats, James Coats of Auchendrane and Daniel Coats respectively. The people of Paisley indeed owe much to this one family, whose generosity was great. They not only provided the capital required but continued to donate many useful and often extremely valuable works of reference over the many years that followed. In 1975 Paisley Library was incorporated in the new Renfrew District library service.
Over the years we have reported prosecutions where the defence has alleged, and with circumstantial support that the presence of a harmful foreign body in food was deliberate…
Abstract
Over the years we have reported prosecutions where the defence has alleged, and with circumstantial support that the presence of a harmful foreign body in food was deliberate through the action of a single disgruntled employee or where the labour relations climate generally has been bad. It makes no difference to the manufacturer's responsibility—the offence is an absolute one—but occasionally courts have allowed it in mitigation. Sometimes, it has been the nature of the extraneous material, e.g. fragments of glass or metal, the like of which did not exist in the factory premises or plant. This may be taken as a symptom of the vandalism of the age, but more recently, two incidents have drawn attention to its dangers and provided a glimpse of the criminal mind which can inflict such injury on employers, and expose innocent consumers, of all ages, to possible harm.
A CORRESPONDENT complains that he has undertaken a course for his final examination, after spending six years from Dunkirk to the Elbe far removed from library opportunities—only…
Abstract
A CORRESPONDENT complains that he has undertaken a course for his final examination, after spending six years from Dunkirk to the Elbe far removed from library opportunities—only to find that librarians and libraries are building up their staffs now. The Times Literary Supplement, he says, carries column after column of advertisements of desirable posts for which he, as he thinks, is a desirable and legitimate aspirant, but he is barred by his academic obligations. This appears to be a genuine grievance and we place it first in these notes in the hope that authorities, and especially librarians, may be induced to consider it. It may be answered that there is a present urgent need to tune up libraries of every kind to meet the great public need and that many of them have already waited some years. It is perhaps a pity that they did not wait a little longer so that the men who deserve most of the country could have been brought into the competition.
ELSEWHERE in this number we list libraries which have Esent us copies of their annual reports which we are glad to have. Now and again we are able to elaborate on these, but in…
Abstract
ELSEWHERE in this number we list libraries which have Esent us copies of their annual reports which we are glad to have. Now and again we are able to elaborate on these, but in the present issue that has not been possible. We would say, however, that these reports are deserving of the attention of librarians generally, and of students at the library schools. They are records of work in progress, and they do suggest the development of library policy. The best of them are of textbook value.