U.S. Protectionism and the World Debt Crisis

U.S. Protectionism and the World Debt Crisis

U.S. Protectionism and the World Debt Crisis

U.S. Protectionism and the World Debt Crisis

Synopsis

Ray presents a comprehensive review of U.S. trade policy since World War II, with particular emphasis on how that policy has affected developing countries. Special attention is given to trade policy shifts in the last 20 years in an attempt to determine whether or not U.S. trade concessions to developing countries contribute positively to their efforts to meet their considerable debt obligations. Ray combines theoretical discussion with empirical data drawn from the seven leading debtor nations in a provocative examination of the economic and sociopolitical causes and implications of changes in protectionism and the pattern of tariff and nontariff trade barriers in the last few decades.

Excerpt

The idea for this book arose from two coincidental events. First, in early 1987 I was approached by John H. Ehrlich, then editor-in-chief of the Northwestern Journal of International Law and Business, about the possibility of preparing a paper summarizing the literature on the political economy of protectionism as part of a symposium for the fall 1987 issue. Then, in the early autumn of 1987, Liliane H. Miller, acquisitions editor at Quorum Books, contacted me after having read my recently published paper on U.S. preferential trade arrangements with developing countries. She inquired about the possibility of my preparing a longer manuscript dealing broadly with protectionist issues and focused on the implications for developing countries.

The coincidence of having just finished a summary of the protectionist literature and having authored several pieces dealing with trade and developing countries led me to conclude that 1987 was as good a time for me to prepare a book-length manuscript on the subject as it would ever be. Hopefully, the reader will find the book as timely to read as I found it timely to write.

Since the first two chapters build upon the material published in the Northwestern Journal of International Law and Business, I owe the editorial staff special thanks beyond the simple copyright acknowledgment given eariler. The editorial staff of the journal made important contributions to the presentation of ideas expressed in the earlier publication. The expansion of the general analytical approach embodied in the book benefitted from the editorial process for the journal, especially concerning points that could be expanded and clarified.

I am indebted to Bob Baldwin for his many years and many kinds of encouragement for my work on protectionism and for being too busy to . . .

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