International trade continues to expand robustly in East Asia and elsewhere, but global trade negotiations have collapsed and globalization is widely criticized. In this book, the participants of the thirtieth Pacific Trade and Development Conference—including the then-Director General of the World Trade Organization, and leading government officials, academics and executives from a dozen major Pacific Rim economies—debate whether global negotiations have ended once and for all, or are suffering temporarily from ‘globalization fatigue;’ whether East Asia’s new regional partnerships will advance or undermine the global trading system; and whether the region’s trade tensions with the United States will intensify or subside. They provide new empirical evidence on how trade affects the distribution of income, the location of pollution-intensive industries, the causes of ‘outsourcing,’ the structure of the intellectual property regime, and international security. And they probe the implications of adjustment to globalization: how can countries reap the benefits of trade while controlling the risks faced by the poor and, perhaps more importantly, the politically strong? Challenges to the Global Trading System is an invaluable resource for students and scholars of Asia-Pacific studies, international relations and development studies, as well as those with a more general interest in Asian studies.

Table of Contents:
Introduction: Challenges to the Global Trading System Peter Petri and Sumner La Croix. Scholarly Papers 1. The Challenge of Policy in the Era of Globalization Supachai Panitchpakdi 2. Globalization Fatigue, not Globalization Backlash Douglas A. Irwin 3. The Emergence of ‘Intra-mediate’ Trade: Implications for the Asia-Pacific Region Yumiko Okamoto 4. The Political Economy of the Proliferation of FTAs Yung Chul Park, Shujiro Urata and Inkyo Cheong 5. Welfare and the Political Economy of Trade in Developed Countries: U.S. Trade Policy Toward China Chad Bown and Rachel McCulloch 6. Does Trade Cause an Environmental Race to the Bottom: Another Look at the Issues Erlinda Medalla 7. What’s New About Outsourcing? Justin Lin and Ying-Yi Tsai 8. Is IP Protection Unfair to Developing Countries? Sumner La Croix and Denise Eby Konan 9. Economic Interdependence and Security in the Asia-Pacific Rong-I Wu, Chyuan-Jenq Shiau and Chi-Chen Chiang. Policy Perspectives 1. Practitioner’s Perspectives on Trade and Development Mari Pangestu 2. US Trade Strategy and the Asia-Pacific Region Lisa Coen 3. Balancing Regional and Multilateral Commitments: The Case of Iceland Geir Haarde 4. Globalization and Politics Doug Bereuter. Business Perspectives 1. Globalization in the Cyber State Narongchai Akrasanee 2. California: A Microcosm of Pacific Rim Trade Issues Richard Rosenberg 3. Globalization at the University of Hawaii David McClain 4. Competition and Fairness in the Execution of Globalization Arthur Goldstein 5. International Opportunities and National Choices Eng Fong Pang Academic Perspectives 1. Troubling Directions in Trade Negotiations Peter Drysdale 2. Sustaining the Multilateral Trading System Hugh Patrick 3. Adjustment, Compensation and Contingent Protection Peter A. Petri 4. First- and Second-Order Adjustments to Globalization Hadi Soesastro 5. Managing Adjustments to Globalization Kim Song Tan