The United States, the European Union, and the "Globalization" of World Trade: Allies or Adversaries?


Regulation of world trade is beyond the control of any one nation. Moreover, Western capitalism is losing its influence in trade negotiations. Policy makers must be alerted to these changes and adjust to them creatively. Fischer argues that the United States needs allies in the new era of world trade, that the private sector is increasingly influential in driving the world trade agenda, and that trade globalization creates a new paradigm that supplants traditional national competition.