This paper aims to help Asian trade negotiators by examining the processes and results of the Uruguay Round. Analysts argue that trade negotiations are based on mercantilistic rules. But the actual outcome of the Uruguay Round suggests that trade bargaining was not based on strict reciprocity....

We explore the relationship between trade adjustment subsidies and successful reciprocal trade liberalization. We consider economies that are faced with a periodic need to move resources out of a declining import-competing sector, and that are attempting to sustain cooperative but self-enforcing...

Hong Kong is often perceived to be a pure model of unilateral free trade. We argue here that in a era when services are internationally tradable and when Hong Kong has become mainly a service economy, this perception is not entirely true. Nonetheless, Hong Kong is basically able to fend off the...

Krugman (1991, 1997) argues that international trade negotiations are based on mercantilist rules. Bhagwati (1988, 1995) highlights how nations are obsessed with reciprocity in their bargaining. Based on studying the trade negotiations process and the results of the Uruguay Round, we provide...