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By Lee E. Preston, Duane Windsor

The topic of this learn is the way in which that finns, industries, and international locations arrange their relationships with each other in an effort to interact in overseas enterprise. To the informal observer, the procedures of shopping for and promoting, borrowing and lending, making an investment and receiving funding returns could seem a lot an analogous, whether or not they take place inside of a unmarried kingdom or among and between companies in several political jurisdictions. in truth, despite the fact that, company contacts among enterprises or members in numerous coun­ attempts are considerably varied from their household opposite numbers. not just do overseas dealers and , debtors and creditors, traders and gains recipients usually use diversified languages and currencies, in addition they often function below assorted easy ideas governing contracts, accounting practices, and dispute-settlement preparations; and they're topic to varied tax platforms. most crucial, they might require particular pennission, or at the least facilitating preparations, from their respective governments which will interact in any monetary touch whatever. it could possibly be that, as Adam Smith believed, there's "a definite propensity in human nature . . . to truck, barter, and alternate one 1, p. 17); however the truth is that the majority im­ factor for an additional" (1776, vol. portant markets and enterprise relationships don't easily seem and evolve as typical phenomena. in truth, they're created through human attempt and are hugely equipped, and overseas enterprise relationships are the main hugely prepared of all.

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Also notable from these data is the fact that, although nonOPEC developing countries have increased the share of their manufactured exports going to industrial market economies (from 5% to 14%), a similar change has also occurred for trade in manufactured exports among non-OPEC developing countries (from 9% to 21 %). Ostry and Nelson (1995) emphasize the increasing importance of high technology exports for the US, Japan, and the NICs (but not for European countries), and the growth of two-way intraindustry trade among the advanced countries.

The Triad countries correspond closely to the membership of the Organization for Economic Cooperation and Development (OECD). , among these economies (cf. Panic, 1988, chapter 2). Expanding linkages between the Triad and other countries illustrate the second trend: increases in the number of significant actors and forces involved in the global economy. The members of the Organization of Petroleum Exporting Countries (OPEC) took on new importance during the 1970s. In the 1980s, Japan (already an important participant in the global economy) became a major world economic power; at the same 32 CONTEXT OF INTERNATIONAL POLICY REGIMES time, a number of newly industrialized countries (NICs), particularly the four "Asian Tigers" of the Pacific Rim (Hong Kong, Singapore, South Korea, and Taiwan), greatly increased their roles in the world economy .

The structural or "realist" thesis holds that regimes reflect the underlying power and interests of international actors, chiefly national states. , Moon Treaty) Regional and Associative Regimes and Organizations European Union (EU), including: European Economic Community (EEC) European Atomic Energy Agency (Euratom) European Coal and Steel Community (ECSC) European Monetary System (EMS) North American Free Trade Agreement (NAFTA: US, Canada, Mexico) Mercosur (Argentina, Brazil, Paraguay, Uruguay) Organization for Economic Cooperation and Development (OECD) Asia Pacific Economic Cooperation (APEC) Functional Regimes: Economic Air Transport International Air Transport Association (lATA) International Civil Aviation Organization (lCAO) Ocean Shipping UNCTAD Liner Conference Code International Maritime Organization (IMO) Telecommunications International Telecommunications Union (ITU) INTELSAT Trade World Trade Organization (WTO), successor to General Agreement on Tariffs and Trade (GATT) Product and commodity agreements, WTO/GA TT-related and other Money, Exchange, and Payments International Monetary Fund (1M F) Investment World Bank (IRBD) International Finance Corporation (lFC) Multilateral Investment Guarantee Agency (MIGA) Bilateral Tax Treaties Functional Regimes: Environmental Air Pollution Agreements: transboundary air pollution, sulfur, nitrogen oxides, chlorofluorocarbons (ViennaIMontreal Protocol), ozone layer Law ofthe Sea Treaty Moon Treaty Antarctic Treaty Figure 2-1 .

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