By Robert Z. Lawrence
In this capstone quantity within the INE sequence, the authors evaluation the growing to be strain for deeper overseas integration, discover the strengths and weaknesses of other ways to facing those pressures, and current concrete proposals to assist in attaining an international neighborhood that may stability openness, range, and team spirit. A quantity of Brookings' Integrating nationwide Economies sequence
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Additional resources for A vision for the world economy: openness, diversity, and cohesion
The European Community of the early 1980s became aware that its much celebrated Common Market was not so common after all. Nontariff barriers, national regulations, and private practices with a strong national bias had replaced many of the official barriers that had been removed in July 1968. The business community helped reveal the unsatisfactory and incomplete nature of liberalization measures. In particular, the European Business Roundtable, a nonprofit coalition of the leading European high-technology companies, commissioned analyses and published reports assessing the cost that differences in domestic regulations and standards were imposing on European companies.
At a June 1991 Madrid meeting twenty-four countries, including the United States, agreed to replace the convention with a fifty-year moratorium on mining minerals in Antarctica. Binding decisions have also been taken in other frameworks. The 1987 Montreal Protocol set ambitious targets to reduce production of CFCs, gases considered harmful to the ozone layer, by 50 percent by the year 2000. Governments in developed countries agreed to help developing countries financially and technologically and to set up a new international institutional structure in which a permanent secretariat arranges for information and data exchange, international financial assistance, and regular meetings of experts and government officials.
5 Subsequent failures, such as the collapse of Banco Ambrosiano and the Bank of Credit and Commerce International (BCCI), have forced revisions and additions to these rules. 6 Trade An increase in concern over the international ramifications of domestic policies is also evident in the area of trade. Early GATT 5 Secrecy laws have actually made this difficult to apply. Herring and Litan (1995). 6 Herring and Litan (1995). 7 But as these barriers fell, it became increasingly apparent that other domestic policies could affect trade flows by creating nontariff barriers.
A vision for the world economy: openness, diversity, and cohesion by Robert Z. Lawrence