A one-of-a-kind illustrated guide to clouds, cloud formations, and the artists who painted them
The mystery of clouds has captivated scientists and artists alike. This unique book shows you how to use the meteorological techniques of nephology to identify these elusive and transmutable shapes. It curates, classifies, and measures every species--including those recently discovered--considering the height, size, texture, arrangement, modifications, and movement of their many shifting forms. Clouds blends a lively and engaging narrative by one of today's leading meteorologists with an essay on historic cloud art, and includes a wealth of breathtaking cloud studies by some of the greatest artists ever to look skyward.When what was to become the Asian financial crisis of 1997 broke out in Thailand, few analysts predicted that this crisis would spread to South Korea. Korea, after all, had risen from poverty to become one of the Asian miracle economies. However, the crisis did not spare Korea, and the Korean government was forced to negotiate a bailout from the International Monetary Fund in late 1997. In 1998, the Korean economy went into the deepest recession recorded in that country since the Korean War. Many of the underlying problems were homegrown. Huge amounts of debt had been amassed by Korea's large industrial conglomerates (the chaebol), and often the funds had been invested in undertakings that were not earning satisfactory rates of return. By the end of 1998, a number of smaller conglomerates had failed and one of the top five (Daewoo) was in serious trouble and eventually would fail.
In this study, author Edward M. Graham examines how this situation arose, tracing its roots to the aggressive industrial policy begun by Korean strongman president Park Chung-hee during the late 1960s. Graham notes that a major failing of Korea during the miracle-economy years was that the financial sector in Korea remained underdeveloped and thus never was able to develop a counterweight to the economic and political power that, over time, the chaebol acquired. The crisis of 1997 can be seen as the culminating event of that asymmetry that was created by Korean industrial policy, i.e., very powerful industrial groups that operated without the countervailing power of financial institutions. Graham then looks at the efforts at reform since 1997, including reform of the financial sector and the chaebol themselves. He concludes that, while much progress has been made, the reform has been uneven and is far from complete.As border barriers have declined, private barriers to competition have grown more significant. More and more international trade disputes involve private business practices that allegedly block the market access of rival firms. Such disputes include high profile conflicts between Japan and the United States over semiconductors, auto parts, and photographic film, between the European Union and the United States over aerospace and defense mergers, and between Asian nations and others over access to telecommunications networks. More such disputes are inevitable, especially in sectors that have been traditionally state-controlled but that are now subject to privatization. The regulation of private business practices that restrict competition is called competition (or antitrust) policy.
In this book, the authors survey national competition policies and the issues they raise for international trade and investment. The book includes detailed recommendations for international agreement on minimum standards in those competition-policy measures that affect the ability of foreign firms to contest markets. These standards could be negotiated and implemented bilaterally, regionally, and globally at the World Trade Organization. At the international level, governments might agree on certain initial steps to accomplish greater contestability: national treatment for foreign-controlled firms, abolition of most international cartels (including those that are now sanctioned), and establishment of mandatory consultation procedures when one government believes that private business practices in another nation foreclose exports or direct investment. There should also be premerger notification requirements for transborder or other mergers having cross-border effects. Further steps might be implemented at a future time.Americans have long been ambivalent toward foreign direct investment in the United States. Foreign multinational corporations may be a source of capital, technology, and jobs. But what are the implications for US workers, firms, communities, and consumers as the United States remains the most popular destination for foreign multinational investment?
Theodore H. Moran and Lindsay Oldenski find that foreign multinational firms that invest in the United States are, alongside US-headquartered American multinationals, the most productive and highest-paying segment of the US economy. These firms conduct more research and development, provide more value added to US domestic inputs, and export more goods and services than other firms in the US economy. The superior technology and management techniques they employ spill over horizontally and vertically to improve the performance of local firms and workers. As the United States wants not only to expand employment but also create well-paying jobs that reverse the falling earnings that many US workers and middle class families have suffered in recent decades, it is more important than ever to enhance the United States as a destination for multinational investors.Antiglobalist forces have been gaining greater momentum in recent years in their efforts to reverse what they view as the negative effects of an integrating global economy. Their influence was felt earlier when efforts to create a Multilateral Agreement on Investment (MAI) ended in failure in 1998 after France left the bargaining table at the Organization for Economic Cooperation and Development, effectively killing the initiative. In this book, through an evaluation of the MAI itself and the issues raised by its opponents, Edward M. Graham takes a fresh look at the growing backlash against globalization.
He first explores whether the MAI negotiations failed due to political maneuvering by antiglobalist nongovernmental organizations (supported by US organized labor) or because of irreconcilable differences among the negotiating parties over the substance of the issue of foreign direct investment. He then objectively and thoroughly assesses antiglobalist assertions that the activities of multinational firms have had negative effects on workers both in the home (investor) and host (recipient) nations, with a special focus on developing nations. An important finding is that multinational firms tend to pay workers in developing nations wages that are significantly above prevailing wages. Graham then examines the issue of globalized economic activity and the environment, finding that economic growth in developing nations can lead to increased environmental stress but also finding that foreign direct investment can lead to reductions in this stress. He finds that the worry of many environmentalists of a race to the bottom is not borne out by the evidence. The final chapters assess whether or not a negotiation to create a comprehensive agreement on investment should be included in a multilateral negotiating round at the World Trade Organization in the near future. The interests of developing nations in this agenda are given special attention. Graham indicates that, while many developing nations would accept such rules, it might nonetheless be premature to press for a comprehensive agreement at this time. Rather, a limited investment agenda might be both more feasible and more productive.