Cover -- Title Page -- Copyright -- Contents -- List of Illustrations -- Acknowledgments -- List of Acronyms -- 1 Trade and Trade Issues -- The Themes of the Book -- The Importance of Trade -- Concerns About the Trade Balance -- Policy Alternatives -- Free Trade and the Search for Competitiveness -- Export Promotion and Industrial Policy -- Forms of Import Restrictions -- International Cooperation to Stimulate Trade -- The Dilemmas of International Trade -- The Distributional Dilemma -- The Values Dilemma -- The State Goals Dilemma -- Choices for the Individual -- Conclusion: Choosing a Trade Policy -- 2 The Theoretical and Historical Origins of Trade Issues -- Liberalism and Mercantilism -- Mercantilist Trade Policy -- The Corn Laws -- The Roots of Mercantilism -- The Demise of Mercantilism and the Birth of Liberalism -- The Rise of the Market -- The Advent of Free Trade Theory -- The Political Conflict over the Corn Laws -- Conclusion: The Triumph of Free Trade -- 3 The Politics of Protectionism -- Cycles of Global Mercantilism and Liberalism -- The Reaction to Laissez-Faire -- The Rise of the Working Class and Political Democracy -- Modern Elaborations of Liberal Trade Theory -- The Distributional Dilemma: The Impact of Trade on Class -- The Distributional Politics of Trade Policy -- The Effects of Market Dominance and Decline -- Trade and the Great Depression -- Conclusion: The Sources of Policy Cycles -- 4 The International Politics of Trade -- The Origins of Bretton Woods -- Hegemonic Stability Theory and American Global Leadership -- Liberal Interdependence and Peace -- The Ideals and Institutions of the Bretton Woods System -- The Principles of GATT/WTO -- The Financial Institutions of the Bretton Woods System -- The Uruguay Round of GATT -- The World Trade Organization.

Conclusion: Trade Dilemmas, International Institutions, and the "Battle of Seattle," -- 5 Neomercantilism and Bilateral Trade Issues -- U.S.-Japanese Trade Tensions -- The Effects of International Trade on the State -- Differences in Trade Policies -- Japanese Trade Policy -- Strategic Trade Theory and Policy -- The Different Roots of American and Japanese Trade Policy -- Contemporary American Trade Policy -- Recent Trade Disputes -- Conclusion: The Future of American-Japanese Relations -- 6 Regional Integration -- The Evolution of the European Union -- Integration: Liberal on the Inside and Mercantilist on the Outside -- The Mercantilist Roots of the EU -- The Liberal Roots of the EU -- The Political Roots of the EU -- The Dilemmas Posed by Exchange-Rate Policy -- The Evolution of the North American Free Trade Agreement -- Motivations for NAFTA -- The Dilemmas in NAFTA and the Political Response -- The Dilemma of National Sovereignty -- The Dilemma of Value Trade-Offs and Environmental Politics -- The Distributional Dilemma and the Politics of Labor Issues -- The Impact of NAFTA and the Mexican Collapse -- Conclusion: Lessons from NAFTA -- 7 Globalization and Outward-Oriented Development -- Globalization -- Trade Options for Poor Countries -- Outward-Oriented Development -- The Dilemmas of Outward-Oriented Development -- The Coming Storm: Dilemmas Revealed -- The Asian Meltdown -- The Dangers of Deficits: Who's Next? -- 8 Looking Ahead -- Missions Reviewed -- Mercantilism and Liberalism: A Summary Perspective -- Future Challenges -- Conclusion: Individual Choices -- Discussion Questions -- Notes -- Suggested Readings -- Glossary -- About the Book and Author -- Index.