Abstract
This paper explains the WTO's agenda and its effect on Africa and Europe. It contends that a freer trading Europe would be a prosperous one, not only in terms of greater economic growth for power houses like Britain or Germany but for development for the stagnant Portugal and the emerging Poland. It looks at how it would also have the potential to act as a saviour for the poor and developing world, allowing them to rise from entrenched poverty into prosperity.

From the Paper
"The most incendiary and infamous interest group who would stand to lose would be those farmers who benefit from the Common agricultural policy. The CAP is not only an anachronistic subsidy in an age of free trade and globalisation, it is also an enormous one; it consumes nearly fifty percent of the EU's multi billion dollar budget (www.bbc.co.uk). Put simply, the realisation of the WTO's agenda would see a straight loss of L43 billion for the EU's farmers (the total of their subsidy in 2005 figures, www.bbc.co.uk) the loss of their protected standard of living and of their privileged access to the lucrative single European market. One would expect that, now on a level playing field, it would only be a matter of time before African farmers began to offer the European consumer cheap food and other goods which presented serious competition for their European counterparts. "

Tags:globalization, european, market, globalization

Abstract
This paper is a very detailed discussion on the United Kingdom's large trade deficit. It explores the causes of the deficit and how it affects the economy and country as a whole. Graphs.

Balance of Trade
UK's Balance of Trade
Price Competitiveness

From the Paper
"The UK has not performed well compared to its major competitors. They have experienced low growth, low investment, weak exchange rates and high inflation rates. This poor performance is due to low levels of investment, research and development and failure of some of the UK companies to perform at the same standards as some of the major competitors (for example - Japan and Germany). For the UK, the main competitive threat is from the USA and Germany, from producers of relatively cheap, high quality product, although they do provide opportunities as a large market."

Tags:balance, economics, fiscal, policy, taxation, tariffs, trade, barriers, inflation, investment, decline, exchange, rate, macro-economics, trade, trends, competitive, payments, growth, deficit, GDP

Abstract
This paper looks at the Heckscher-Ohlin Model as an example of global trading patterns and seeks an explanation for why the Leontief paradox occured and why it is that Factor price equalization does not seem to have occurred. It contains references to relevant American trading data as well as two detailed tables of international economics data.

From the Paper
"International trade is a logical and natural advance in the affairs of man. If one has a good to barter with then an optimal level of indifference between different goods can be achieved. However there is much debate about whether trade is due entirely to a relative abundance of supply of a particular factor or are there other reasons. Ever since Eli Heckscher, based on a hunch, unveiled his ideas on international trade theory, in 1919 it has been held, by some, as a satisfactory explanation of International Trade, however, is it really that clear cut? "

Tags:economics, Heckscher, Leontief, model, Ohlin, paradox, ricardian, trade, world

Abstract
This paper examines the reasons of Japanese expansionism in the 1930's and assesses the Great Depression as a factor against other reasons. It provides a brief history of Japan at the time and shows how Japan had been expansionist before the 1930?s, attempting to realise her ambitions from the 1890?s. It looks at how the Great Depression altered the domestic situation in a way which meant existent forces of expansionism, principally in the form of the army, were able to grow. It shows how it laid the way for the army to take control and also helped, through it?s social and economic affects to foster a more pro-Manchurian public opinion.

From the Paper
"Evidence exists of Japanese expansionism from the 1890's and ambitions for this from earlier still. Japan was initially looking to break-out of what Beasley describes as the "Treaty Port System"; the complex system of colonial treaties which gave the imperial powers significant trading and economic advantages. Japan thus signed various commercial treaties, notably with Britain in 1894, to gain greater economic equality. This gradually being achieved, expansion of some form could begin: in 1890, Yamagata Aritomo, high profile politician and leading Genro (with the task of advising the emperor and deciding on various civil appointments), talked of the need to defend Japans? "line of sovereignty." This line included Korea, whose independence Japan would ?guarantee.? "

Tags:army, manchuria, china, russia, nationalism

Abstract
This paper explores the pros and cons of Britain joining the euro. It discusses the impact that the euro will have on the British economy, politics and business including its potential impact on interest rates, exchange rates, inflation, trade, foreign investment, jobs and national identity. It concludes with how the author believes, that for the time being, Britain should stay out of the euro since the U.K. currently has a thriving economy and joining when the effects on the euro are unknown is too risky.

From the Paper
"Currently Britain is enjoying a period of economic growth and stability which has been achieved by being able to adopt the economies appropriate to her circumstances. In particular, the setting of interest rates that are appropriate to the current economic conditions. By joining the single currency, Britain would lose control of monetary policy (interest rates, etc) to the European Central Bank in Frankfurt. Therefore in the future Britain could endure rates inappropriate to the current phase in the economic cycle. So interest rates which are suitable for one country may be unsuitable for the economy of another (i.e. one country may be in recession while another is in boom)."

Tags:interest rates exchange inflation trade, foreign investment jobs

Abstract
This papers investigates the pros and cons of the various methods used to measure wealth and poverty, such as GDP and others. Each of the four measures investigated has fans and skeptics regarding levels of accuracy. This paper includes tables illustrating how a country's wealth ranking can be altered when different measures are used.

From the Paper
"It has never been easy to assess the extent of poverty in one part of the world when compared to another. Poverty can mean different things to different people. It is also important to remember that poverty is part of the wider issue of development. We should therefore have at the outset a core perspective or working definition on both poverty and development. Without such a perspective we could not measure poverty. To test the different measures of poverty, the following UN definition will suffice: "The income level below which a minimum nutritionally adequate diet plus essential non-food requirements are not affordable" (UNDP Development Report 1991:95). In other words, people are poor if they cannot afford day to day living. The UN also has the following definition of development: "Development is the process of enlarging the range of peoples choices increasing their opportunities for education, health care, income and employment, and covering the full range of human choices from a sound physical environment to economic and political freedoms" (UNDP Dev. Rep. 1992). Traditionally, there have been two main measures of poverty; Gross Domestic Product (GDP) and Gross National Product (GNP). There are now, however, more measures, the two principles ones are; the Human Development Index (HDI) and the Human Poverty Index (HPI). All four, together with other indicators, will be evaluated and concluded upon here."

Tags:gdp, gnp, hdi, indicators, undp, wealth, poverty, wealth, un, income, hdi, hpi, development

Abstract
The paper discusses the current global financial crisis in terms of identifying the fundamentals that caused this crisis and the nature of the crisis and the issues at stake. The paper invokes a certain degree of financial and economic theory in an attempt to analyze the pressing concerns in this crisis and the measures being suggested to tackle those concerns.

From the Paper
"To understand this housing bubble one needs to know that for several years after the dotcom bubble the housing and plot prices in US soared and started seeing a correction in 2005-2006 which led economists to confirm the conclusion that housing prices were rising to unsustainable levels. Yale economist Robert Schiller argued that "Once stocks fell (after the dotcom era), real estate became the primary outlet for the speculative frenzy that the stock market had unleashed" . Now it is imperative to understand that these sub-prime loans are categorized as "sub-prime" for the very reason that they are lent out to borrowers who do not qualify for loans on market interest rates; simple economic theory about risk premium being applied when lending to these types of borrowers."

Tags:simple, economic, theory, mortgaged, houses, psychological, level, investors

Abstract
This paper looks at ways in which the first world protects itself from the advantages the third world, by creating a distortion of market forces. It illustrates how political issues are as important as economics issues within the world trade system. This paper examines the rules of economic theory, specifically the free movement of capital investments and the free movement of labor.

From the Paper
"Over the past three decades, a remarkable internationalisation of the world economy has taken place. Key aspects of this process are free trade and the mobility levels of labour. In an attempt to integrate developing economies into the globalisation process, agencies such as the World Bank and the IMF promote free market ideological policies to poorer countries, sometimes making the implementation of such policies a condition of receiving financial aid. This, they argue, will increase prosperity and levels of development. But do the concepts of free trade and the free movement of labour really exist, let alone increase prosperity? Here we shall examine what these two concepts mean in practice, what their impact on prosperity is, and why objections have been raised towards this kind of liberalisation."

Tags:globalisation, international, trade, labor, world, bank, IMFcapital, investment, first, thrid, world

Abstract
This paper examines reasons for the East Asian economic crisis during 1997 and 1998. The World Bank report of 1993 praises many of the practices that ultimately led to the crisis. Currencies, stock markets, 'crony capitalism' and financiers are examined. The paper argues that both economic and cultural reasons are ultimately to blame for the economic crisis.

From the Paper
"In recent decades international financial institutions, most notably the World Bank, have held up East Asia as a capitalist miracle, a role model for the rest of the world to follow. The Newly Industrializing Countries (NIC's) took off during the 1970's and included countries from around the world. But is was almost exclusively the NIC's of Asia who maintained their high growth rates through the 1980's and 1990's. While the South American NIC's were left behind in the debt crisis of the early 1980's, the Asian 'Tigers' continued to surge ahead. South Korea, for example, maintained a manufacturing growth rate of nearly 9% a year during the 1980's, while exports grew by 10% a year (Hadjor: 1992). Taiwan, Hong Kong and Singapore also enjoyed such success, and they were soon joined by other Asian countries such as Malaysia and Thailand. By 1987 the combined manufacturing exports of South Korea, Taiwan, Hong Kong and Singapore totaled about half of all third world exports compared with 6% for Mexico and Brazil combined (ibid). The World Bank firmly believed that the experience of the Asian tigers constituted a viable model for other Third World countries. In 1993, the Bank published its seminal work 'The East Asian Miracle' as a guide to how the Tigers had been so successful. But disaster hit the East Asian region in 1997/98 when the economies in that part of the world took a massive beating from what became the 'Asian Crisis'. Suddenly the World Bank report and hopes for the region looked decidedly inaccurate. Here we will summarize the various views taken by the World Bank on Asian economic development before the crisis hit, together with how the effects of the Asian Crisis threw into doubt the Banks judgment."

Tags:asian, crisis, capitalism, crisis, crony, globalisation, world, bank, asia

Abstract
This paper examines how global economic forces enable sections of third world society to be more easily exploited. It investigates how the first world does not play on a level playing field by using the Multi-Fibre Agreement. The views of protesters, the World Bank, and others are reviewed. The paper ends by touching upon future developments, such as the impact of China becoming a full member of the World Trade Organization.

From the Paper
"During the past three decades, remarkable internationalisation of the world economy has taken place. This process has become known as globalisation. Globalisation can be defined as "The increasing integration of national economies into expanding international markets" (Todaro: 1997). Neo-liberal authors and institutions, such as the IMF, state that globalisation is driven by four main factors; free market ideology; technological breakthroughs in communication; the shifting of economic activity to the developing world; and the opening up of previously closed borders. These factors of globalisation have inevitably led to changes in conditions of labour in third world employment. Here we will look at what the changes have been. We will then examine the views taken on these conditions by 'anti-sweatshop' campaigners, and the response of the International Labour Organisation and the World Bank."

Tags:globalisation, globilization, labor, trade, world, bank, multi-fibre, arrangement, third, world, china, world, trade, organisation, organikzation, wto