The socialist market economy with Chinese characteristics has turned into a systemic trade and investment issue both bilaterally and multilaterally. The hope that WTO membership would eventually transform China into a market economy with distortions that would gradually become tolerable and...

There seems to exist wides pread agreement on the superiority of free trade over other forms of trading systems with protectionism being accepted, at best, as a temporary device for slowing down adjustment processes. As against that, Dr. Hager argues that the markets of industrialised and...

Central to the following discussion is the assertion that a foreign trade policy which maximizes the static efficiency gains from trade may result in reduced dynamic or X-efficiency and thus impair a developing country’s development potential. The dominant view of the relation between...