The spectacular opening of the People’s Republic of China to the capitalist world market and the flourishing state of East-West cooperation-up to the Afghanistan crisis-show that cooperation with more advanced industrial countries in selected fields is seen as a promising means of speeding...

European Economic and Monetary Union is currently in the course of preparation by an inter-governmental conference. What are the benefits and risks associated with European monetary union? What essential requirements need to be fulfilled when the agreements are concluded?