Chatham House Paper, Pinter Publications: London, 1990. US edition: Council on Foreign Relations Press: New York, 1990. Japanese edition: Minerva Shobo: Kyoto, 1991
This book explores the impacts of the phenomenal growth in FDI-led integration from the perspective of the investor countries – led by the United States, Britain and Japan – and from the host economies. It has transformed the meaning of trade flows and how the sales and purchases of foreign-owned firms in their host countries have overtaken cross-border sales (ie, exports and imports) to become the dominant link with foreign markets. It argues that policy coordination among governments can be more usefully focused on an expanding agenda of micro-economic issues, such as financial market regulation, competition policy and environmental standards, than on trade and exchange rate policies.
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