In this collection of public policy essays, Jagdish Bhagwati argues that the true Clinton scandal lay in the administration's mismanagement of globalization - resulting in the paradox of immense domestic policy success combined with dramatic failure on the external front. Bhagwati assigns the bulk of the blame for the East Asian financial and economic crisis - a disaster that prompts him to use as his title the poet Octavio Paz's image of devastation "I met the wind of the hundred days" - to the administration's hasty push for financial liberalization in the region.;The administration, Bhagwati claims, has also mishandled the freeing of trade. The administration-hosted WTO meeting in Seattle ended in chaos, and the launch of a new round of multilateral trade negotiations was dashed. Bhagwati shows how the administration's failure to get Congress to renew fast-track authority can be attributed to an unimaginative response to the demands of a growing civil society. In several essays, he shows how free trade and social agendas both could have been pursued successfully if the concerns of human-rights, environmental, cultural, and labour activists had been met through creative programs at appropriate international agencies such as the International Labor Organization instead of the WTO and via trade treaties. Bhagwati also criticizes the claim that "globalization needs a human face," arguing that it already has one. He faults the administration for embracing unsubstantiated anti-globalization rhetoric that has made its own preferred option of pursuing globalization that much more difficult.

The wind of the hundred days - Jagdish Bhagwati

9780262024952
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Title
The wind of the hundred days - how Washington mismanaged globalization
Author
Jagdish Bhagwati
format
Hardback
Publisher
The MIT Press
Language
English
UK Publication Date
20010116

In this collection of public policy essays, Jagdish Bhagwati argues that the true Clinton scandal lay in the administration's mismanagement of globalization - resulting in the paradox of immense domestic policy success combined with dramatic failure on the external front. Bhagwati assigns the bulk of the blame for the East Asian financial and economic crisis - a disaster that prompts him to use as his title the poet Octavio Paz's image of devastation "I met the wind of the hundred days" - to the administration's hasty push for financial liberalization in the region.;The administration, Bhagwati claims, has also mishandled the freeing of trade. The administration-hosted WTO meeting in Seattle ended in chaos, and the launch of a new round of multilateral trade negotiations was dashed. Bhagwati shows how the administration's failure to get Congress to renew fast-track authority can be attributed to an unimaginative response to the demands of a growing civil society. In several essays, he shows how free trade and social agendas both could have been pursued successfully if the concerns of human-rights, environmental, cultural, and labour activists had been met through creative programs at appropriate international agencies such as the International Labor Organization instead of the WTO and via trade treaties. Bhagwati also criticizes the claim that "globalization needs a human face," arguing that it already has one. He faults the administration for embracing unsubstantiated anti-globalization rhetoric that has made its own preferred option of pursuing globalization that much more difficult.

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Type
BOOK
Keyword Index
Free trade.|Capital movements.|Globalization - Economic aspects.|Globalization - Social aspects.|United States - Foreign economic relations.|United States - Commercial policy.
Country of Publication
Massachusetts
Number of Pages
408

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