Section I. Free trade vs. strategic trade 1. How costly is protectionism? - Robert C. Feenstra 2. Is free trade passé? - Paul R. Krugman 3. Free versus fair trade: the dumping issue - Thomas Klitgaard and Karen Schiele 4. Antidumping policies in eletronic products - Patrick A. Messerlin and Yoshiyuki Noguchi Section II. Trade issues for 2000 5. The WTO and the global economy - Richard Blackhurst 6. The growing U.S. trade imbalance with China - Thomas Klitgaard and Karen Schiele 7. Sanctions-happy USA - Gary Clyde Hufbauer, Jefrey Schott and Kimberly Elliot 8. International trade, environmental quality and public policy - Michael J. Ferrantino 9. Protection and trade in services - Bernard Hoekman and Carlos A. Primo Braga Section III. The globalization debate 10. Does trade with low-wage countries hurt american workers? - Stephen Golub 11. Integration of trade and disintegration of production in the global economy - Robert C. Feenstra Section IV. Preferential trading agreements 12. Preferential trading arrangements: gainers and losers from regional trading blocs - C. Parr Rosson III, C. Ford Runge and Kirby S. Moulton 13. The first five years of the NAFTA agreement - Joanna Moss Section V. North-south trade issues 14. The new liberalism: trade policy developments in emergins markets - Zbenek Drabek and Sam Laird 15. Multinational corporations: think again - John Stopford 16. OPEC: an obituary - Fadhil J. Chalabi Section VI. Foreign exchange and macro policy 17. The structure of the foreign exchange market - Sam Y. Cross 18. The determination of exchange rates - Sam Y. Cross 19. Fixed or flexible? Getting the exchange rate right in the 1990s - Francesco Caramazza and Jahangir Aziz 20. What determines the exchange rate: market factors or market sentiment? - Gregory P. Hopper 21. Does the exchange rate regime matter for inflation and growth? - Atish R. Ghosh, Jonathan D. Ostry, Anne-Marie Gulde and Holger C. Wolf 22. Crawling bands or monitoring bands: how to manage exchange rates in a world of capital mobility - John Williamson Section VII. The Euro 23. European monetary union - Michael W. Klein 24. Why is Europe forming a monetary union? - Gwen Eudey 25. The international use of currencies: the U.S. dollar and the euro - George S. Tavlas Section VIII. Financial crises: from Mexico to Asia 26. The mexican peso crisis - Joseph A. Whitt Jr 27. Asian problems and the IMF - Allan H. Meltzer 28. The onset of the east asian financial crisis - Steven Radelet and Jeffrey Sachs 29. The asian crisis causes and cures - IMF Staff 30. The role of international financial institutions in the current global economy - Joseph Stiglitz Section IX. Prospects for the future of the international financial system 31. Building an international architecture for the 12st Century - Lawrence H. Summers 32. Currency boards - Philip King 33. Capital controls: capital idea or capital folly? - Barry Eichengreen