World Trade

In recent years, phenomenal changes are taking place in the field of world trade. More and more countries are opening up their economies. Trade restrictions are being dismantled or substantially reduced. The New GATT Accord is an important milestone in the direction of freeing world trade. Setting up of WTO has strengthened the institutional arrangements for freeing the world trade. Globalisation is taking place on a wide scale. Developing countries are liberalising import of capital and technology. Terms and conditions for the import of capital and technology are being eased. Attractive terms are being offered to the multinationals to induce them to set up production units in the importing countries. In the monetary field, more and more countries are moving in the direction of complete convertibility of their currencies. Currencies are being left free to the maximum possible extent to determine their value on the basis of the forces of demand and supply. State intervention is resorted to only smoothen the process of change or to counteract speculative movements of money. In order to make a critical analysis of the changes that are taking place in the field of world trade and investment, it has been planned to bring out four volumes covering different subjects and including different shades of opinions. The present is the first Volume of the planned four Volumes. The contributors of this Volume are leading experts in the field of international trade.
It is hoped that the book would be found useful by students of international trade, government executives concerned with the formulation and execution of trade policies, business community and the general reader.