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Globalization and America's Trade Agreements, by William Krist
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Globalization and America's Trade Agreements reviews the theoretical framework as well as provides a historic context of impact of the United States’ complex trade agreements of the past 25 years. William Krist analyzes the issues in the recent rounds of GATT/WTO negotiations and in numerous U.S. free trade agreements and discusses how economists have approached trade policy and how historical experience has affected economic theory. He assesses the effect of trade deals on the U.S. economy, the role of foreign policy in trade negotiations, how trade can affect the economies of developing countries, and how environmental and labor concerns affect trade agreements.
Trade has been an essential driver of global growth. Krist shows how trade policy has contributed to that growth and outlines what must be done to ensure it can continue to promote our national objectives. This book will serve as a valuable guide for those unfamiliar with trade policy and provides a challenging critique of trade policy for those already knowledgeable in the field.
- Sales Rank: #1627372 in Books
- Brand: Krist, William
- Published on: 2013-10-08
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x .97" w x 6.00" l, 1.19 pounds
- Binding: Hardcover
- 304 pages
Review
Krist has obviously put together a scholarly work displaying a very broad understanding of the ‘whys and wherefores’ of U.S. trade agreement history.
(Ambassador Michael Smith, retired foreign service officer, former Deputy U.S. Trade Representative)I would rate this work as very important and needed. The reader is given a very good understanding of post–World War II policies and the global context in which they have functioned.
(Ambassador Alan Wolff, international trade lawyer, former Deputy U.S. Trade Representative)Krist, a former U.S. trade negotiator, provides a useful primer on current world trade rules, structures, and negotiations, from an American perspective.
(Richard N. Cooper Foreign Affairs)The writing, level of discourse, and material are very accessible for an educated audience.
(Choice) About the Author
William Krist is a senior policy scholar at the Woodrow Wilson International Center for Scholars. During his career he was an Assistant U.S. Trade Representative, a legislative assistant for both a congressman and a senator, and an advocate for the high-tech industry.
Most helpful customer reviews
1 of 1 people found the following review helpful.
A must read!
By Stephen M. Creskoff
Globalization and America’s Trade Agreements” is a book that should be read carefully by every serious student and practitioner trade policy. Mr. Krist had a distinguished career in trade policy as a senior U.S. Government trade agreements negotiator and subsequently as a trade policy advisor for a major electronics industry group. He has thought long and hard about important trade policy issues such as the pros and cons of trade liberalization through multilateral, regional and bilateral agreements, special interest influence relating to agriculture and intellectual property protection, using trade agreements to promote democracy and economic development, and the impact of trade agreements on labor rights and environmental protection, and made useful recommendations for America’s trade policy in the future.
Krist believes that there are two major problems with America’s current approach to trade agreements. First, prior trade agreements have significant gaps that permit “neo-mercantilist” countries (read Japan and China) to pursue policies such as currency manipulation that injure U.S. workers and industry. Second, further multilateral trade liberalization through WTO negotiations “have apparently failed” and existing bilateral trade agreements are limited in economic benefits, thus the United States needs a new strategy “that will promote its commercial and foreign policy interests and strengthen the global trading system.”
Krist recommends several approaches to address these problems. First, he suggests a more interventionist approach to counter neo-mercantilist policies such as currency manipulation, but then notes the economic and political reasons why such an approach may not always be desirable. Second, he advocates the completion of two major regional agreements – the Trans-Pacific Partnership Agreement (TPP) (currently under negotiation between the United States and 11 other Pacific Rim countries) and the Trans Atlantic Trade and Investment Partnership (TTIP) (currently under negotiation between the United States and the European Union). Third, he advocates the return to multilateral trade negotiations using TPP and TTIP as templates for further multilateral liberalization.
These recommendations are sound and should be the basis for future U.S. trade policies. My only (minor) disappointment with “Globalization and America’s Trade Agreements” is the minimal attention given by Krist to improvements in trade facilitation and the WTO’s new Trade Facilitation Agreement (which, in fairness, was not concluded until after publication of the book). Trade facilitation improvements and reductions in other non-tariff barriers to trade will likely have a much larger impact on trade in the future than additional tariff reductions.
1 of 1 people found the following review helpful.
An outstanding book about international trade agreements
By Joseph Papovich
The international trade agreements that the United States has joined over the past 50 years have been an important ingredient in the creation of today’s globalized world. Globalization has yielded vast economic gains for many, but has also resulted in significant economic disruption for others. The role that trade agreements have played in this process is not well understood and has been the subject of some wildly differing views. Most economists estimate that these agreements have brought major economic benefits to the world economy, including the American economy. Others have demonized these agreements, blaming them for many of the world’s economic ills. Author Bill Krist does an outstanding job in the book helping the reader understand what the issues are associated with these agreements, why such varying views exist about these agreements and the policy options for moving forward.
0 of 0 people found the following review helpful.
Good guide for the future
By Robert Hume
An in depth review of US trade policy with insight where things may be headed. A timely book from an expert.
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