Western Hemisphere Economic Integration

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Peterson Institute, 1994 - Business & Economics - 279 pages
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President Bush's Enterprise for the Americas Initiative (EAI) opens the door to negotiations to promote closer trade and economic relations among the countries in the Western Hemisphere, and ultimately to establish a hemispheric free trade zone. While the President took an important first step by defining broad objectives, a number of practical questions regarding the scope, content, and form of the negotiations remain to be addressed. This book examines the prospects for free trade in the Western Hemisphere and offers policy recommendations on how that objective could best be achieved.
  

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Contents

Overview
1
Tables
6
USLatin American Economic Relations
15
Feasible and Desirable
25
Regional Implications of a WHFTA
51
Latin American Reforms and Readiness Indicators
63
Subregional Integration and Readiness Assessment
97
Hemispheric Negotiations
131
Impact on Latin America and
191
B1 Export and import performance 198090
193
B4 US imports from Latin America by commodity group annual
206
B5 US jobs supported by US exports and dislocated by imports
214
Chronologies of Regional Agreements
219
Trade and Investment Diversion
251
D1 Projected merchandise trade diversion from South Asia East Asia
253
D2 Investment diversion from third countries resulting from WHFTA
259

The Hemisphere and the World
159
Toward a WHFTA
173
Trade Deficiency in Latin America
185
A1 Actual and predicted tradetoGDP ratios and values 1990
186

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About the author (1994)

Gary Clyde Hufbauer is Marcus Wollenberg Professor of International Financial Diplomacy at Georgetown University and the author or coauthor of numerous publications on international trade, investment, and tax issues.

Jeffrey J. Schott, Senior Fellow, was a Senior Associate at the Carnegie Endowment for International Peace (1982-83) & an International Economist at the US Treasury (1974- 82). He is the author, coauthor, or editor of several books on the trading system, including Launching New Global Trade Talks: An Action Agenda (1998), Restarting Fast Track (1998), The World Trading System: Challenges Ahead (1996), The Uruguay Round: An Assessment (1994), Western Hemisphere Economic Integration (1994), NAFTA: An Assessment (rev. ed. 1993), North American Free Trade: Issues & Recommendations (1992), Completing the Uruguay Round: A Results-Oriented Approach to the GATT Trade Negotiations (1990), Free Trade Areas & U.S. Trade Policy (1989), The Canada-United States Free Trade Agreement: The Global Impact (1988), Auction Quotas and United States Trade Policy (1987) & Trading for Growth: The Next Round of Trade Negotiations (1985).

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