The Wind of the Hundred Days: How Washington Mismanaged Globalization - ISBN: 0262523272


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		"There is not less wit nor less invention in applying rightly a thought one finds in a book, than in being the first author of that thought." - Pierre Bayle, Dictionairre Historique et Critique

	The Wind of the Hundred Days: How Washington Mismanaged Globalization
	by Jagdish N. Bhagwati

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Product Details

Format: Paperback, 408 pages

Publisher: MIT Press

ISBN: 0262523272

Release Date: Jan 1, 1999

In Brief
Provocative essays on international trade, with particular focus on U. S. foreign trade policy.

From The Publisher
In The Wind of the Hundred Days, a new collection of public policy essays, Jagdish Bhagwati applies his characteristic wit and accessible style to the subject of globalization. Notably, he argues that the true Clinton scandal lay in the administration's mismanagement of globalization--resulting in the paradox of immense domestic policy success combined with dramatic failure on the external front. Bhagwati assigns the bulk of the blame for the East Asian financial and economic crisis--a disaster that prompts him to use as his title the poet Octavio Paz's image of devastation "I met the wind of the hundred days"--to the administration's hasty push for financial liberalization in the region.

The administration, Bhagwati claims, has also mishandled the freeing of trade. The administration-hosted WTO meeting in Seattle ended in chaos and the launch of a new round of multilateral trade negotiations was dashed. Bhagwati shows how the administration's failure to get Congress to renew fast-track authority can be attributed to an unimaginative response to the demands of a growing civil society. In several essays, he shows how free trade and social agendas both could have been pursued successfully if the concerns of human-rights, environmental, cultural, and labor activists had been met through creative programs at appropriate international agencies such as the International Labour Organization instead of the WTO and via trade treaties. Bhagwati also criticizes the claim that "globalization needs a human face," arguing that it already has one. He faults the administration for embracing unsubstantiated anti-globalization rhetoric that has made its own preferred option of pursuingglobalization that much more difficult.

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The Reader's Catalog
Bhagwati argues that the true scandal of the Clinton administration was its failure to effectively manage globalization and the freeing of international trade. "A constructive, if controversial, contribution to an important public policy debate" — Mary Carroll, Booklist

	Preface
	Introduction
I	The Two-Edged Sword: Capital Flows	1
1	The Capital Myth: The Difference between Trade in Widgets and Dollars	3
2	Why Free Capital Mobility May Be Hazardous to Your Health	13
3	Free Trade, Yes; Free Capital Flows, Maybe	21
II	From Miracle to Debacle: The Asian Drama	25
4	The "Miracle" That Did Happen: Understanding East Asia in Comparative Perspective	27
5	The Asian Economic Crisis: What Do We Know Now?	51
6	A Friend in the United States, but a Crony in Asia	61
III	Free Trade Fair Trade, Wages, and Human Rights	65
7	Free Trade in the Twenty-First Century: Managing Viruses, Phobias, and Social Agendas	69
8	Free Trade: Why the AFL-CIO, Ralph Nader, and the Sierra Club Should Like It	87
9	The Folly of "Fair Trade"	105
10	Is Free Trade Working for Everyone?	109
11	Play It Again, Sam: A New Look at Trade and Wages	121
12	Globalization: Who Gains, Who Loses?	137
13	Moral Obligations and Trade	153
14	Trade Linkage and Human Rights	157
15	On the Efficacy of Trade Sanctions	169
16	Fast Track: Not So Fast	173
17	Short on Trade Vision	177
18	Global Fixes	179
19	Fifty Years: Looking Back, Looking Forward	183
20	On Thinking Clearly about the Linkage between Trade and the Environment	189
21	Mismanaging the Banana Dispute	203
22	An Economic Perspective on the Dispute Settlement Mechanism	205
23	Trade and Culture: America's Blind Spot	209
24	The West's Triumph: Did Culture Do It?	215
IV	Regionalism, Multilateralism, and Unilateralism	225
25	Fast Track to Nowhere	227
26	On the Perils of SAPTA	235
27	The FTAA Is Not Free Trade	239
28	Think Big, Mr. Clinton	251
29	In Favor of China's Entry into WTO	255
30	Free Trade without Treaties	261
V	The Debacle in Seattle	265
31	WTO's First Round: The Seattle Agenda	267
32	Labour Standards and the WTO: The Case of Separate Agendas	273
33	Don't Muddy the Waters	281
34	Did Clinton Take a Dive in Seattle?	285
35	What Really Happened in Seattle?	287
VI	Investment and Immigration	291
36	Illegals in Our Midst: Getting Policy Wrong	293
37	Why Borjas Fails to Persuade	299
38	A Close Look at the Newest Newcomers: Immigration Debate Takes Skill	309
39	Who Needs the Multilateral Agreement on Investment?	313
VII	Globalization	315
40	But Mr. Clinton, Globalization Has a Human Face	317
41	Globalization, Sovereignty, and Democracy	323
42	Poverty and Reforms: Friends or Foes?	343
43	Growth Is Not a Passive "Trickle-Down" Strategy	357
44	Living with Globalization	359
45	The Global Debate	363
46	Globalization in Your Face	365
	Index	373

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Keywords
Business/Economics, Business / Economics / Finance, International - Taxation, International Relations - General, Political Science, United States, Economic aspects, Foreign economic relations, Free trade, Commercial policy, Social aspects, Capital movements, Globalization