President Nixon's new economic policy of August 1971, aggravated by
the oil problem since October 1973 caused chaos and uncertainty in
the international trade and currency system. There were fears of
another 1930s style depression. In addition, a world food shortage
and strident claims by developing countries for perpetual
sovereignty over resources added another set of difficulties. This
volume, written from Japan's standpoint, suggests a new direction
for the world and regional economic order. The book tackles two
major issues in international economics: Firstly, traditional
international trade theory aims only at static maximization in the
use of world human and material resources, but, the author stresses
more attention should be paid to such dynamic or developmental
elements as population growth, immigration, natural resource
development, improvement in transfer of technology, economies of
scale, direct foreign investment and economic integration in order
to create development centres or sectors in the world economy.
Secondly, the author discusses how to combine a global and regional
approach to economic integration.
|Country of origin:
||Routledge Library Editions: Japan
||Electronic book text
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