A debate began in 1991 over the advantages and disadvantages of a global trend towards three economic blocs — the Western Hemisphere, centred on the United States; Europe, centred on the European Community; and East Asia, centred on Japan. Krugman (1991a), Bhagwati (1990, 1992) and Bergsten (1991), argue that the trend is, on balance, bad. Krugman (1991b) and Lawrence (1991c) argue that it is, on balance, good.1 Most appear to agree, however, that a trend towards three blocs is indeed underway.
Weitere Kapitel dieses Buchs durch Wischen aufrufen
- Is Japan Establishing a Trade Bloc in East Asia and the Pacific?
Jeffrey A. Frankel
- Palgrave Macmillan UK