International Economic Policy: Book Review Essay -- essays research pa

worldwide Economic policy Book Re settingThe book reviewed in this essay, worldwide Economic Policy in the1990s, was to focus on whatever of the close to recent concerns or so transnationaltrade. Its author, William R. cline, seems to get some serious insights about thetopic as it seems that he researched, taught and lectured about this field ofstudy. The author tested to be as objective as possible and tried not to bebiased by referring to the different opinions about most of the issues hehandled. However, as it is really impossible to be totally unbiased, some biaseswere to outlast due to their necessity to form an argument. Furthermore, otherbiases target be discover through his writings by remarking the aspects ofinternational trade that he examined, versus those he gave very small or noweight at all. in that respect are many issues related to international trade that one can study,however as it is usually the case, this book was to examine only some of them.The auth or, in some parts of his book, was to concentrate on the question ofadjusting the US trade deficit against with Japan. He was to show the Americanpoint of view that argues that Japanese terms of trade are unfair (104). Also hewas to refer to the North American Free Trade Agreement and weigh how it isbeneficial for Mexico (as first developing country to join the US and Canada)which could not gain support from Europe to develop (as Europe was toconcentrate on its own further development and unity at the moment), and to howthe joining of Mexico was to advantage the US (and Canada) as it would open alarge market for the US as well as cheap labor (106). A good point made by himwas to show the prospects of incorporating more Latin American countries inNAFTA (as this book was published in 1994) while saying that the Latin Americanmarket "remains too small to compensate US exports for any broader loss ofmarkets in Europe, Japan, and elsewhere "(112). This conclusion might have led him to have a closer look outside the US (and NAFTA) circle.In a chapter of his book, he was to look at the " economic future(a) ofEurope". He was to argue that an implication of the monetary union may be lessneed for European countries to hold large reserves of dollars, as there will be"reserves pooling". This may need to an excess supply of dollars, andconsequently a "downward ... ...at the gap amid the rich and the poor increased. Also,poverty, huge increase in the third worlds population, and the miss of water inthe future may lead to problems to the world as a whole and so serious stepsmust be interpreted to contain a forthcoming disaster. Furthermore, the author shouldhave taken a serious look at the South East Asian countries (the Asian Tigers)as it seems that they might become a real economic force out (possibly with Japanesesupervision) and this will have enormous consequences on world(a) trade. China,with its huge power and huge potential economy and market, should have got his assistance as it might be a major economic power in the near future.Overall, the author seemed to try to give various opinions, and rarelymark his analysis as the "right" one. However, his neglecting of some majoraspects of international trades (as the economic powers, and the North/Southrelation mentioned above) did not necessarily injure the book. This was due to thegood analysis he gave to the specific issues that he covered, and his travail tobe objectiveA review ofCline, William R. International Economic Policy in the 1990s. Cambridge The MITPress, 1994.