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

worldwide Economic Policy Book ReviewThe book reviewed in this essay, International Economic Policy in the1990s, was to focus on virtually of the most recent concerns about internationaltrade. Its precedent, William R. cline, seems to have some good insights about thetopic as it seems that he researched, taught and lectured about this field ofstudy. The author attempt 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 exist due to their necessity to form an argument. Furthermore, otherbiases can be detected through his literary productions by remarking the aspects ofinternational trade that he examined, versus those he gave very small or noweight at all.There are many issues cerebrate to international trade that one can study,however as it is usually the case, this book was to examine only some of them.The author, in so me parts of his book, was to revolve about on the question ofadjusting the US trade deficit against with Japan. He was to show the American bespeak of view that argues that Japanese terms of trade are partial (104). Also hewas to refer to the North American Free Trade Agreement and reflect 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 pull in the US (and Canada) as it would open alarge market place 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 hav e ledhim 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 ofEurope". He was to argue that an hint of the monetary union may be lessneed for European countries to hold large militia of dollars, as there will be"reserves pooling". This may lead to an excess supply of dollars, andconsequently a "downward ... ...at the gap between the rich and the poor increased. Also,poverty, huge increase in the third gear worlds population, and the lack of water inthe future may lead to problems to the world as a whole and so serious stepsmust be taken 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 forefinger (possibly with Japanesesupervision) and this will have enormous consequences on global trade. China,with its huge power and huge potential economy and mar ket, should have got hisattention 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/South affinity mentioned above) did not necessarily harm the book. This was due to thegood analysis he gave to the specific issues that he covered, and his attempt tobe objectiveA review ofCline, William R. International Economic Policy in the 1990s. Cambridge The MITPress, 1994.