Free trade is beset by embedded mercantilism...

Article Abstract:

The Bogor Declaration of the 1994 Asia-Pacific Economic Cooperation forum fostered an atmosphere of embedded mercantilism, an economy allowing political and business cartels within an open economy. The politics of embedded mercantilism is enabled by open regionalism, a policy in which trade benefits are given to all, whether by membership in the Asia-Pacific Economic Cooperation or by Most Favored Nation status. The crony capitalism of embedded mercantilism could not thrive because it was largely superficial, creating an economy that did little to support the larger economic infrastructure.

Most Favored Nation Agreements, Regionalism, Asia-Pacific Economic Cooperation, Pacific Area, Mercantilism, Most favored nation clauses

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Explaining Asia's miserable trade surpluses

Article Abstract:

The trade surpluses in Asia denotes the economic difficulties in the region. They reflect the difficult adjustments of the region's economies. However, a downtrend in the surpluses will signal the economic recovery of the region. This can be attributed to the cyclical relationship of the economy and the current account. As such, the capital account directly influences the current account. Furthermore, the stability of some Asian currencies signify the end of capital outflow in Asia.

Trade Relations NEC, Analysis, Economic indicators, Balance of trade

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Alchemy in Asia: turning crisis into opportunity

Article Abstract:

Asia has increased foreign exchange reserves, recapitalized banking systems, reduced nonperforming loans, and has significantly lowered short-term debt since the country's economic crises of more then three years ago. Influencing International Monetary Fund policy, Asia's economic recovery has prompted the organization to peruse policies that will promote increased economic global stability.

Intnl Economic Policy, International Monetary Fund, Economic policy

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