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New Frontiers in Free Trade: Globalization's Future and Asia's Rising Role Hardcover – August 20, 2008


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Product Details

  • Hardcover: 124 pages
  • Publisher: Cato Institute (August 20, 2008)
  • Language: English
  • ISBN-10: 1933995211
  • ISBN-13: 978-1933995212
  • Product Dimensions: 9 x 6.1 x 0.9 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Best Sellers Rank: #1,278,720 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

"Razeen Sally brings depth and breadth, both of scholarship and of practical experience, to his task. His restatement of the case for unilateral liberalization is powerful and could not be timelier. His reflections on the prospects for trade policy are lucid and entirely persuasive. This short book is the best and most important volume on trade in years."
--CLIVE CROOK
Columnist, Financial Times

"This short primer provides an excellent, panoramic introduction to the world of trade policy today. Readers will get a clear understanding of the big picture after reading Razeen Sally's splendid book."
--DR. DOUGLAS A. IRWIN
Dartmouth University

"This is the most objective, balanced, and thorough book on international trade I've read in the past quarter of a century. Dr. Sally does a superb job of meshing idealism and realism, astutely making the case for unilateral trade liberalization and arguing persuasively that protectionism benefits no one."
--CLAYTON YEUTTER
Former U.S. Trade Representative

About the Author

RAZEEN SALLY is director of the European Centre for International Political Economy, an international ceonomic policy think tank based in Brussels, and is on the faculty of the London School of Economics. He writes and comments widely on international economic issues and spends much of his time working and traveling in East and South Asia. He is on the advisory board of the Cato Center for Trade Policy Studies.

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Customer Reviews

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Most Helpful Customer Reviews

By luling on April 6, 2014
Format: Kindle Edition
Just want to remind other consumers, don't click the "buy now by 1 click" with accident. Since Amazon is going to refund me. I'll just remove the bad review. It's okay.
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1 of 2 people found the following review helpful By Midwest Book Review on November 9, 2008
Format: Hardcover
With nearly half the world's population, it's no surprise Asia is a massive juggernaut in today's global economy. "New Frontiers in Free Trade: Globalization's Future and Asia's Rising Role" is a look at globalization and its true effect on the world's economy as a whole. Telling how Asia is slowly becoming the leading economic power in the world, a title once held by North America and Europe, Sally also discusses how the World Trade Organization has succeeded and failed in its job, and the effects of such. "New Frontiers in Free Trade" is a must for a solid understanding of today's world economy.
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2 of 9 people found the following review helpful By William Podmore on April 16, 2009
Format: Kindle Edition
Trade liberalisation brings job losses and deindustrialisation.

As World Bank economists have admitted, "during periods of trade liberalization ... job destruction rates can be expected to proceed at a much faster pace than job creation. Globalization could therefore be associated with higher unemployment rates." Again, the OECD has admitted that "foreign competition reduces employment in the most exposed industries" in its 30 member countries.

Due to trade liberalisation, Latin America lost more than 10 million jobs during the 1990s. In Mexico, according to the World Bank, a tariff reduction of 20 percentage points reduced real wages by 5-6%.

In Africa's manufacturing sector, employment decreased by 0.5% per year from 1981 to 1990 and real wages fell sharply throughout the 1980s. The share of manufacturing in the economy stagnated or declined in 18 of the 24 countries that underwent IMF and World Bank structural adjustment programmes between 1982 and 1988.

In Kenya, full-scale trade liberalisation in 1993 caused huge job losses and a fall in total manufacturing employment. Overall, Kenya's manufacturing employment grew much faster in the 1970s, a decade of import-substituting industrialisation and significant government intervention in economic management, than in the 1980s and 1990s, the two `lost decades' of structural adjustment programmes and trade liberalisation.

In Zimbabwe, an increase in manufacturing output of 39%, in the decade before reforms, turned into a contraction of 14% in the first three years after reforms. Real earnings had increased by 1.2% per year in the five years before reforms but fell by 9.9% per year in the five years after reforms.

Unemployment in the EU rose to 7.6% in January 2009 - a total of 18.
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