Trade Strategies for a New Era: Ensuring U.S. Leadership in a Global Economy

Geza Feketekuty

Council on Foreign Relations

September 1997

Foreword

Gary C. Hufbauer

As America approaches the end of the century it stands astride the global economy. Over the last two generations the United States has taken the lead in liberalizing its own economy and in prodding other nations to lower their trade and investment barriers. No country has benefited more from the "magic of the global market" than the United States. But to maintain its leadership and to continue to enjoy these benefits, the United States needs to reshape its trade policies to reflect the changing nature of the world economy.

With possible new multilateral trade negotiations looming early in the next century, with ongoing regional trade discussions in Latin America and Asia, and with continuing bilateral trade issues on the trade agenda, the United States needs a new vision for the new millennium. To meet that challenge and provide that vision, the Council on Foreign Relations is pleased to publish Trade Strategies for a New Era: Ensuring U.S. Leadership in a Global Economy, edited by Geza Feketekuty and Bruce Stokes.

The Council is deeply indebted to Geza Feketekuty, director of the Center for Trade and Commercial Diplomacy of the Monterrey Institute of International Studies, for conceiving this project, assembling the authors, and shepherding them to a final product. For years Geza was the visionary policy planner at the U.S. Trade Representatives office in Washington. This book testifies to the continuing vitality of his insights.

Bruce Stokes, a Council Senior Fellow and one of the nation's foremost commentators on trade policy, not only contributed a chapter to the book, but also edited much of the volume and coordinated the Council's participation in the project.

Les Gelb, the Council's president, has brought a new sense of purpose to all that we do here. His support for serious analytical work in the area of economic foreign policy has charted a new course for the Council. And his admonition that the Council's work make a difference has helped shape this book in many ways.

The Council's production family pitched in with enthusiasm to ensure that the book was both professional in content and published in a timely fashion. Early on, David Kellogg recognized the importance of this work, helped shape its presentation, and was a constant source of innovative ideas. Patricia Dorff and Sarah Thomas ushered the book through several edits, managed the production process, and contributed many helpful editorial suggestions.

Trade Strategies for a New Era: Ensuring U.S. Leadership in a Global Economy is just one of many books that will be published by the Studies Department on America's deepening engagement in the world.