In this study, 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 generally 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 that foreign direct investment can lead to reductions in this stress. On the issue of globalization and the environment, he finds that the worryof 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.
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In this study, 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 generally 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 that foreign direct investment can lead to reductions in this stress. On the issue of globalization and the environment, he finds that the worryof 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.
Imprint | The Peterson Institute for International Economics |
Country of origin | United States |
Release date | September 2000 |
Availability | Expected to ship within 12 - 17 working days |
Authors | Edward Graham |
Dimensions | 228 x 154 x 15mm (L x W x T) |
Format | Paperback |
Pages | 262 |
Edition | illustrated edition |
ISBN-13 | 978-0-88132-272-9 |
Barcode | 9780881322729 |
Categories | |
LSN | 0-88132-272-5 |