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At the beginning of the twenty-first century, the European Union (EU) stands out as an important regional organization. This book focuses on the influence of the World Bank on the EU development cooperation policy, with special emphasis on the Lomé Convention. It explains the influence of trade liberalisation on EU trade preferences and provides a comparative analysis of the content and direction of the policies developed towards the African, Caribbean and Pacific (ACP), the Mediterranean, Asia, Latin America and Eastern Europe. It looks at the trade-related directorates and their contribution to the phenomenon referred as 'trade liberalisation'. This includes trends towards the removal or elimination of trade preferences and the ideology underlying this reflected in and created by the General Agreement on Tariffs and Trade/World Trade Organisation (GATT/WTO). The book examines the role of the mass media because the media are supposed to play a unique role in encouraging political reactions to humanitarian emergencies. The bolting on to development 'policy' of other continents, and the separate existence of a badly run Humanitarian Office (ECHO), brought the lie to the Maastricht Treaty telling us that the EU really had a coherent development policy. The Third World in general, and Africa in particular, are becoming important components in the EU's efforts to develop into a significant international player. The Cotonou Agreement proposes to end the preferential trade margins accorded to non-least developed ACP states in favour of more liberal free trade agreements strongly shaped by the WTO agenda.

6 The first attempt to negotiate the association agreement Introduction This chapter aims to explain the phase in EU–Mercosur relations which saw the negotiation of the association agreement without reaching a successful ending. Both parties developed those negotiations under the EMIFCA. It was agreed that this agreement would be carried out in two phases. The first phase related to the preparation of the ground for future negotiations by comparing standards, statistical systems and trade procedures, whilst the second phase centred on trade liberalization. The

in The European Union's policy towards Mercosur:
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The evolving international financial architecture

-prone nature of freer capital movements” – in particular, that large influxes of capital can lead to overcapacity and speculative bubbles. Bhagwati notes that for a long time it has been taken for granted that capital flows are analogous to trade flows. – i.e. that wherever they occur and in whatever form, they invariably benefit long-term economic development. However, he cautions that between the processes of trade liberalization and financial liberalization there lies a great difference. Specifically, Bhagwati (1998, 10–11), notes that there is a “difference between trade in

in The Asian financial crisis
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Crisis, reform and recovery

sector, encourage the development of a competitive non-oil export-oriented industrial base that would absorb 127 The Asian financial crisis the rapidly growing labor force, and expand the role of the private sector, including foreign capital. Key elements of the reform measures between 1985 and 1996 included: (a) gradual liberalization of direct investment inflows to promote non-oil exports and economic diversification; (b) maintenance of a competitive exchange rate; (c) trade liberalization and tariff reform; (d) improvements in monetary management; (e) financial sector

in The Asian financial crisis
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Issues, debates and an overview of the crisis

regarding the pros and cons of trade liberalization, capital controls, fixed versus floating exchange rate regimes, currency boards, dollarization, the role of the IMF, among other issues. However, before much of the reforms envisioned in the new financial architecture had had a chance to be implemented, Asia was already in the midst of making a remarkable economic recovery – defying even the most optimistic predictions, which predicted the lapse of at least a decade before any meaningful recovery could take place. In this light, the IMF triumphantly noted that “the financial

in The Asian financial crisis
Open Access (free)
Crisis, reform and recovery

, including comprehensive dismantling of the old financial system, and further measures related to trade liberalization, capital account liberalization and labor market reform. This reflected the IMF’s view that the crisis originated from structural weaknesses in the Korean economy, especially from its financial system (IMF 1997d). However, the IMF believed that the immediate challenge was to achieve macroeconomic stability and restore confidence in the currency. To achieve this the IMF program required that: (1) money supply be squeezed, or at least be limited to a rate

in The Asian financial crisis