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In: The annals of the American Academy of Political and Social Science, Band 522, Heft 1, S. 36-44
ISSN: 1552-3349
With the end of the Cold War and the dissolution of the Soviet Union, the conflicts between nations will increasingly be economic rather than military, but the existing international instruments for dealing with trade conflicts are antiquated and inadequate. The General Agreement on Tariffs and Trade (GATT), as a foundation for global trade, is fundamentally flawed. Japan has ignored its GATT obligations, taking advantage of open markets wherever it can while keeping its markets closed through a variety of formal and informal barriers. In contrast to Europe, the United States' response has been passive, resulting in a long history of failed process-oriented bilateral negotiations with Japan. In the final analysis, the difficulty lies not with Japan but with the United States. The solution is a result-oriented agreement with Japan. While this can be achieved through a variety of means, the guiding principle is results. That means an agreement that concentrates on outcomes, timetables and mutual responsibilities, levels of permissible trade imbalances, the composition of trade, allowable market shares, investment in both countries, and practices like dumping in third markets.
In: The annals of the American Academy of Political and Social Science, Heft 522, S. 36-44
ISSN: 0002-7162
World Affairs Online
In: The annals of the American Academy of Political and Social Science, Band 522, S. 36-44
ISSN: 0002-7162
DUE TO THE END OF THE COLD WAR AND THE DISSOLUTION OF THE SOVIET UNION, THE CONFLICTS BETWEEN NATIONS WILL INCREASINGLY BE ECONOMIC RATHER THAN MILITARY. BUT THE EXISTING INTERNATIONAL INSTRUMENTS FOR DEALING WITH TRADE CONFLICTS ARE ANTIQUATED AND INADEQUATE. THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT), AS A FOUNDATION FOR GLOBAL TRADE, IS FUNDAMENTALLY FLAWED. JAPAN HAS IGNORED ITS GATT OBLIGATIONS, TAKING ADVANTAGE OF OPEN MARKETS WHEREVER IT CAN WHILE KEEPING ITS OWN MARKETS CLOSED THROUGH A VARIETY OF FORMAL AND INFORMAL BARRIERS. IN CONTRAST TO EUROPE, THE UNITED STATES' RESPONSE HAS BEEN PASSIVE, RESULTING IN A LONG HISTORY OF FAILED PROCESS-ORIENTED BILATERAL NEGOTIATIONS WITH JAPAN. IN THE FINAL ANALYSIS, THE DIFFICULTY LIES NOT WITH JAPAN BUT WITH THE USA. THE SOLUTION IS A RESULTS-ORIENTED AGREEMENT WITH JAPAN: ONE THAT CONCENTRATES ON OUTCOMES, TIMETABLES AND MUTUAL RESPONSIBILITIES, LEVELS OF PERMISSIBLE TRADE IMBALANCES, THE COMPOSITION OF TRADE, ALLOWABLE MARKET SHARES, INVESTMENT IN BOTH COUNTRIES, AND SUCH PRACTICES AS DUMPING IN THIRD MARKETS.
In: Public budgeting & finance, Band 1, Heft 4, S. 21-26
ISSN: 1540-5850
In: Foreign affairs: an American quarterly review, Band 70, Heft 2, S. 184
ISSN: 2327-7793
In: Challenge: the magazine of economic affairs, Band 24, Heft 4, S. 53-57
ISSN: 1558-1489
In: Challenge: the magazine of economic affairs, Band 28, Heft 5, S. 57-59
ISSN: 1558-1489
World Affairs Online