The gradualism of economic reforms in China and Vietnam (especially in China, which has led the way in this regard) has been commented on favourably by many analysts studying transitional economies. Early market reforms in China and Vietnam were constrained by political considerations and...

The degree to which countries are pursuing regional trade agreements (RTAs) has been nothing short of extraordinary. The latest wave of regional integration, however, is “breeding concern” among academics and policymakers as to the extra‐regional effects of these agreements and their...

Recent empirical studies have estimated the trade flow effect of membership in the World Trade Organization (WTO) and its predecessor, the General Agreement on Tariffs and Trade (GATT). One important, although largely untested, conclusion from this literature is that the GATT/WTO has worked well...

The attainment of self-reliance (zi li geng sheng) is an important goal for China. However, approaches to achieving it have altered greatly since the People’s Republic was established in 1949. Following the split between China and the Soviet Union in 1960, Mao Zedong claimed that China could...

This article adopts the point of view that China’s development policies can only be appreciated if they are considered by applying perspectives from institutional economics. This requires attention to be given to the historical, political and cultural context in which its economic development...

As pointed out in this article, small island economies are diverse in their nature and in the challenges they face. A taxonomy of these economies is provided. The overview takes account of small island economies that are satellites of large countries as well as those which are independent nation...

This article provides a general coverage of political decisions in China to undertake, continue and extend its economic reforms and its goal of opening up to the outside world. It also considers the consequences of Chinese policies. The period leading up to the decision in 1978 to begin the...

Outlines changes in Australian economic policies that have occurred in recent decades in response to growing economic globalisation. It considers microeconomic reforms in Australia and changes to its industry policy (including important changes in national competition policy) its financial...

Most observers agree that the major areas where gains can be made in CETA are in the services sector and selected areas of manufacturing. It seems unlikely that CETA will be as all encompassing as the NAFTA with only a few agricultural products excluded from full tariff elimination. Still, it...

Since the inception of supply management in Canada during the 1970s, milk production quota has been used to regulate output and participation in the dairy industry. In recent years, milk quota values have increased dramatically, almost tripling in value since the mid-1980s. This led to the Dairy...