Thomas C. Fischer - The United States, the European Union, and the Globalization of World Trade: Allies or Adversaries?

Cover

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Allies or Adversaries?

THOMAS C. FISCHER

Foreword by Sir David Williams

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Library of Congress Cataloging-in-Publication Data

Fischer, Thomas C. (Thomas Covell)
The United States, the European Union, and the globalization of
world trade : allies or adversaries? / Thomas C. Fischer ; foreword by
Sir David Williams.
p. cm.
Includes bibliographical references and index.
ISBN 1567200370 (alk. paper)
1. United StatesForeign economic relationsEuropean Union
countries. 2. European Union countriesForeign economic relations
United States. 3. Free tradeUnited States. 4. Free trade
European Union countries. 5. Free tradeAsia. 6. Competition,
International. I. Title.
HF1456.5.E8F57 2000
337.7304dc21 9940351

British Library Cataloguing in Publication Data is available.

Copyright 2000 by Thomas C. Fischer

All rights reserved. No portion of this book may be reproduced, by any process or technique, without the express written consent of the publisher.

Library of Congress Catalog Card Number: 9940351
ISBN: 1567200370

First published in 2000

Quorum Books, 88 Post Road West, Westport, CT 06881
An imprint of Greenwood Publishing Group, Inc.
www.quorumbooks.com

Printed in the United States of America

The paper used in this book complies with the Permanent Paper Standard issued by the National Information Standards Organization (Z39.481984).

10 9 8 7 6 5 4 3 2

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History, according to Karl Marx, is economics in actionthe contest, among individuals, groups, classes, and states, for food, fuel, materials, and economic power.... The past leaves little doubt that every economic system must sooner or later rely on some form of the profit motive.... [Alt]hough men cannot be equal, their access to... opportunity can be made more nearly equal.

Will and Ariel Durant, T HE L ESSONS OF H ISTORY

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This is an adventurous and imaginative study of the globalization of world trade. The author delves deeply into complex areas, and he presents his material with both lucidity and a lightness of touch.

Professor Fischer emphasizes that there no longer is, or can be, a national economic policy unaffected by global pressures, and he looks in detail at the emergence of three powerful and expanding trading blocs (America, Europe and the Asia/Pacific Rim). In the course of his wide-ranging consideration of so many interlocking areas of economic activity, he examines (for instance) the North American Free Trade Agreement (NAFTA) and the Free Trade Area of the Americas (FTAA).

Considerable attention is given to the European Union, with a sensitive awareness of the problems of federalization evolving either by design or otherwise. He accepts that there continue to be divisions among the heads of state about the pace and direction of European integration, and he is fully aware of the differences of political and social philosophy, of culture, history and language. Moreover, he is fully aware of critical developments of the last decade, and he recognizes the continuing pressure for expansion of the Community. There is great unpredictability in the process of absorption, and it is difficult to formulate a timetable for developments in the new millennium.

There is a predictably somber note in the treatment of Japan (Asias Disintegrating Colossus), of China (the greatest enigma of all) and of the varying fortunes of other economies including Hong Kong, Singapore, South Korea, Taiwan and Thailand, but Professor Fischer is not pessimistic about the future.

The final part of the book, on the subject of globalizing trade, brings