NICs and Global Trade The purpose of this research is t

Haggard's assessment of NIC growth, particularly in East Asia, is that when national economies sought export-oriented development, they also gradually created policies that would encourage rather than discourage direct foreign investment while at the same time assuring NIC growth along with foreign-investor growth. Haggard cites Korea's negotiation for domestic inputs to foreign manufactures in the country. He also discounts nationalization as a general NIC response to foreign investment precisely because of the host countries' need the institutional permanence and manufacturing/employment input that multinational locations can provide. The overriding point is that national strategies of hosting foreign investment have an impact on the long-term bargaining power of the host country and foreign investors, on the character that economic benefit to the host country assumes, and on the ability of countries to respond to crises.

Yoffie and Helleiner develop issues related to the difficulty of equitable foreig

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y free-trade environment because they were virtually the only players on the scene. On this view, increased competition, from both NICs and developed countries, is likely to result in increased trade barriers or a target import market unable to absorb all the new players. The failure of the international political economy to absorb what could be called the chaos of the marketplace is nowhere more obvious than in the case of the international debt crisis of the 1980s. The diffuse commitment to industrialization and modernization in the NICs was simply not adequate to sustaining policies of debt creation inside the countries. Indeed, says Eskridge, faith in modernization "probably contributed to the international debt crisis!" (1985, p. 357; emphasis in original). The collapse of oil prices, the collapse of markets due to recession in developed countries, excessive lending by mainstream state and commercial lenders to cash-poor NICs, and concentration of wealth and political power with NIC elites, combined with authoritarian politics and political instability, import substitution and commodity export rather than manufacturing, and concentration of development in military or government projects rather than on deepening the manufactu
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Some common words found in the essay are:
Asian NICs, NICs Helleiner, Latin America, East Asia, Indeed Eskridge, , South Korea's, Korea Park, American NICs, South Korean, debt crisis, international debt, international debt crisis, developed countries, south korea, political economy, asian nics, nic growth, host country, latin american, foreign investment, latin american nics, newly industrializing countries, international political economy, women south korea,
Approximate Word count = 1462
Approximate Pages = 6 (250 words per page)

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