International trade and trade policy have become increasingly important and complex in recent years. In this comprehensive introduction to the key aspects of international trade policy, noted authority Anne O. Krueger explains what has happened and why these issues are so difficult.
With evidence-based analysis and an even-handed approach, International Trade: What Everyone Needs to Know lays the foundation to understand what trade does and does not do. Focusing on the importance of trade in both goods and services, Krueger explores the effects of various trade policies step-by-step and demonstrates why economists generally support free trade. Krueger considers the historical experience, highlighting how technological changes and reduction of trade barriers helped transform the world economy.
Tariffs, antidumping and countervailing duties, government procurement policies, preferential trading arrangements, trade with developing countries and emerging markets, and the World Trade Organisation are examined. Krueger tackles the fundamental questions surrounding trade including: What are the benefits and costs? What are trade deficits and do they matter? Why do some people favour protectionism and barriers to trade? How does trade policy affect workers?
Written in question-and-answer format, this non-technical introduction to the policies of international trade provides an indispensable guide to one of the most crucial elements of the global economy.
Anne O. Krueger
Anne O. Krueger is a Senior Research Professor of International Economics at the School for Advanced International Studies at Johns Hopkins University. She is a former World Bank chief economist and former First Deputy Managing Director of the International Monetary Fund. She is also a Senior Fellow of Center for International Development (of which she was the founding Director) and the Herald L. and Caroline Ritch Emeritus Professor of Sciences and Humanities in the Economics Department at Stanford University. She has published extensively on economic development, international trade and finance and economic policy reform.