Expanding U.s.-asian Trade And Investment: New Challenges And Policy Options
(Claude E. Barfield)
This volume of studies analyzes current and future trends in the trade and investment flows between the United States and the major East Asian economies and describes evolving policy challenges for both U.S. and East Asian political leaders. It includes chapters by scholars from the United States, Japan, China, Korea, and Taiwan on their respective countries; a sixth study covers the members of the Association of South East Asian Nations (ASEAN) as a group. The editor, Claude E. Barfield, is director of trade and technology policy studies at AEI.
The growth of East Asian economies over the past two decades has dramatically changed the structure and the dynamics of world trade and investment. Since 1980, East Asian economies have grown at annual rates between 1 percent and 6 percent greater than have other major economies. According to projections by the World Bank, for the balance of the 1990s East Asian economies will create 40 percent of new world purchasing power and will take in at least one-third of all additional imports. By 2005, U.S. trade with East Asia is projected to double U.S. trade with Europe.