Description
The "circle of opportunity" refers to President Bush's proposal in 2003 for a US-Middle East free trade agreement. Lawrence (trade and investment, John F. Kennedy School of Government, Harvard U./senior fellow, Peterson Institute) discusses the current state of Arab economies and trade linkages, and the broader implications of trying to globalize this troubled region. He argues that liberalizing services trade and foreign investment, as well as the effects of eliminating tariffs on goods, must be taken into account. Tables present relevant data. Annotation ©2007 Book News, Inc., Portland, OR (booknews.com)
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Would a free trade agreement (FTA) between the nations of the Middle East and the United States be beneficial to both sides? Robert Lawrence provides an analysis that incorporates both economic and political considerations. He documents the scope for enhancing the trade linkages, domestic governance and regional trade of Arab countries. He evaluates the US strategy in negotiating bilateral agreements and reviews in considerable detail the specific agreements that have been negotiated so far and the challenges still to meet if a single overarching arrangement is to be implemented. Lawrence also compares the US approach with the parallel initiative being undertaken by the European Union.
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