The on-going DDA negotiations are concentrated on vague and highly technical subjects of antidumping rules. In this paper, we discussed arguments of WTO antidumping reformers and supporters by reviewing the subjects in details such as zeroing, sunset review, review, facts available, swift control mechanism for initiations and sales below costs. The empirical studies have been reporting that on average, the practice of zeroing and excluding below-cost sales from home-market sales cause dumping margins to increase by about 88% and 60%, respectively. Reviewing antidumping investigations in the United States, the EU and India, we found that the current antidumping rules are not targeting international price discrimination. In practice, the bulk of investigations are undertaken by the discretion of the authority. Thus, improving and clarifying the current WTO antidumping rules will contribute to establishing predictable and transparent trade environment. (The rest is omitted.)

The growing interdependence in the world economy through trade and financial integration has increased the need to engage in international and regional economic cooperation. This was never demonstrated more clearly than during the Asian financial crisis of 1997, which highlighted the reality is that financial instability is unlikely to remain within the national borders of the country of origin. Cooperation at both regional and global levels is therefore needed to stem the negative spillovers. (The rest is omitted.)

The goal of this study is to contribute to the efforts to construct regional financial arrangements that would reduce the occurrences of financial crisis, and lower their costs. This study will confine itself to the issues related to crisis prevention through mutual surveillance. T
his study will review and assess existing regional or sub-regional arrangements covering information exchange, surveillance systems, and institutions. In particular, in relation to the current development of the Chiang Mai Initiative (CMI), our analysis will focus on how to strengthen mutual surveillance processes through regional policy dialogue. (The rest is omitted.)

This paper extends the reciprocal dumping model of trade to a general equilibrium theory. We merge the Cournotian model of Brander (1981) with the Ricardian model of Dornbusch, Fischer and Samuelson (1977). In this Cournot-Ricardian model, we find that the share of intra-industry trade in total trade increases with a similarity between trading partners, where the similarity is measured in terms of the industrial distribution of labor productivities. Thus our model provides another micro-foundation to the general finding that the share of intra-industry trade is high when the trading partners are at a similar level of development. We also put this new model to a test. Using the data on trade and productivity, we find that the industrial distribution of labor productivities has significant explanatory power over the variations of intra-industry trade across country-pairs. This new variable seems to perform as well as the more popular variable, such as factor proportion, in explaining the share of the intra-industry trade. (The rest is omitted.)

APEC has pursued economic cooperation among its member economies in the Asia-Pacific region since it was launched in 1989. In particular, APEC aims to foster free and open trade and investment in the Asia-Pacific region by 2010 for developed economies and 2020 for developing economies through the 1994 Bogor Declaration. To achieve this goal more efficiently, we need to know better about the structure and relationships in international trade among APEC member economies. (The rest is omitted.)

Hyungdo Ahn and Deok Ryong Yoon
This study focuses on the changing trends of international financial transactions and the possibility of money laundering. It further attempts to provide countermeasures by exploring the cases and analyzing the types and techniques of money laundering. (The rest is omitted.)

A review of DDA non-agricultural market access negotiations up to 2003 reveals several contentious issues: (i) tariff reduction modality; (ii) sectoral tariff elimination; (iii) non-tariff barriers; and (iv) special and differential treatment (SDT) for the least developed countries. The DDA Chairman's first draft on the modalities based on the Swiss formula considers the average tariff rates of member countries in calculating the line-by-line concession rates. Developed countries including the United States, the EU and Canada proposed the original Swiss formula to cope with the high tariff levels of developing countries. Conversely, the Chairman proposed a revised formula that entailed capping the average tariff rates contained in the formula. (The rest is omitted.)

In this book, we analyzed key issues of negotiations on the Free Trade Area of the Americas (FTAA) including market access, agriculture, investment, services, government procurement, and social agenda such as labor and environment. In the area of market access, the key discussion has been focusing on how to eliminate both tariff and non-tariff barriers. In the agriculture, there is a sharp conflict of interests among participants on domestic subsidies and some sensitive agricultural products. (The rest is omitted.)

The USSR was the most important political supporter and economic partner of North Korea during the cold war. The USSR played a leading role in the economic relation between North Korea and the USSR. The USSR contributed to the economic development and the cultivation of industrial infrastructure and human resources in North Korea. Even though the economic relationship between two countries brought a continuous loss to the USSR, the USSR continued its relation with North Korea based on political and security reasons in North East Asia. However, their relationship had twists and turns. For example, North Korea took the economic policy of expanding the economic and trade relations with western countries in the early 1970s. Following this, the economic relation with the USSR diminished sharply.There were some stylized factors in the economic relationship between North Korea and the USSR during the cold war era. First, over 3/4 of trade between two countries was based on the barter system. Second, the companies that were financed by the aid from the USSR continued to export only to the USSR until all debts were paid. Third, the processing trade that was based on the materials imported from the USSR was significant. Fourth, the aid from the USSR was the main trend of the economic relation between two countries during the 1950s and 1960s, whereas the transaction or trade was the main trend after the 1970s. Fifth, scientific and technological cooperation had played the most important role. The economic relationship between the two countries changed in the early 1990s because of the transition to the market economy of the Russia and its requirement of hard money on trade settlement. The two countries agreed to expand their trade volume to 9.5 billion ruble by 1990. This amount was 2.5 times more than that of the 1980s. However, the actual amount of trade between the two countries had consistently decreased. It was 1.617 billion rubles in 1988, 1.4977 billion rubles in 1989, and 1.34 billion rubles in 1990. By 1991, the trade between the two countries had almost broken down and the amount of the trade fell to 400 million rubles. The main reasons for the decrease of the amount of the trade between the two countries were: first, Russia and North Korea were undergoing serious economic crisis. Second, the two countries changed from a trade system of compensation trade to market trade. As the new system of market trade began, the friendly price system was abolished, and the clearing payment system was replaced by a hard cash payment system. Also, the compensation trade system based on the barter system collapsed. An abrupt decrease of economic relations between North Korea and USSR caused tremendous difficulty in North Korean industry, and resulted in serious economic difficulties in the 1990s. However, the new Treaty of Friendship and Cooperation between North Korea and Russia in February 2000 and North Korean-Russian common declaration adapted in the time of president Putin's visit in July, 2000, North Korea and Russia attempted to bolster their relationship.North Korea's key industries have been operated by facility support from USSR. In particular, most key industries such as steel, metallic, chemical, mechanical, shipbuilding and energy industries were constructed by technological and facility support from USSR, and have been operated based on the technology of USSR. In fact, North Korea's biggest dilemma lies in that they can not discuss modernization of present North Korean industrial facilities with any other countries except Russia because their industry is equipped by technology and facilities of former USSR.Recent economic cooperation between North Korea and Russia has resulted from interests in both countries. North Korea wants to have Russia involved in the reconstruction of North Korean industry. Russia wants to interest South Korea through North Korea in Russian industrial development. This situation raises many questions on economic cooperation between South and North Korea. First, if it is presumed that Korea or international societies can not supply financial needs required for the reconstruction of the North Korean economy, the second choice would be to make Russia assume the burden. Second, the economic cooperation between North Korea and Russia is not limited to their own cooperation, but is international. In particular, the scope of cooperation may expand to South Korea. Third, this is a pertinent time to establish an organization of economic cooperation between South Korea, North Korea and Russia in order to solve all the problems mentioned above. It is very important to organize a council in which South Korea, North Korea and Russia participate together in the framework of economic cooperation in North East Asia or of economic cooperation with other countries. This council would adjust each country's interests and supervise performance of projects agreed upon by the participants. Fourth, for the actual realization of economic cooperation between South Korea, North Korea and Russia, we should develop and promote economic cooperation projects that each country is interested in. A railroad connection project and cooperation in energy would be the first such project. In the future, the following is needed to promote economic cooperation between South Korea, North Korea and Russia securely, consistently and effectively: after solving the problem of North Korean nuclear weapons, the three countries should create an institutional organization that will adjust mutual interests and gains, and propose cooperative policy in the overall framework. Each country should promote cooperative projects that will result in the actual realization of policies. In the long run, these three countries should form a close alliance that will make it possible to unite natural resources, capital and labor, and that will make it possible to connect industries directly.

Korea's FDI in China has been the major impetus for the rapid growth of bilateral economic linkage. Korean investment in China has contributed to Korea's trade growth and competitiveness improvement, and it has benefit the Korean trade surplus and decreases Korean trade conflicts with other countries.
In the meantime, Korean investment also has had a positive effect on employment, tax revenue, trade with other countries and industrial competitiveness in China. Since 2002, China has replaced the U.S. to become the largest investment destination for Korean FDI. Therefore, Korea's FDI will play more and more important role in bilateral economic linkage. (The rest is omitted.)