In a few years, the United States has gone from worrying about Japan”s economic might to worrying about its meltdown. The rise and fall of America”s ”results-oriented” trade policy towards Japan captures this turnaround.
John Kunkel traces this Japan policy to a crisis in the institutions, laws and norms of the US trade policy regime in the first half of the 1980s. This arose from the erosion of America”s post-war international economic dominance (especially vis-à-vis Japan) and the unintended consequences of Reaganomics. The crisis in turn led to the progressive ascendancy of a coalition of ”hardliners” over ”free traders” after 1985.
Kunkel combines research in economics, politics and history – including interviews with key policy-makers – to illuminate this important case study of American trade policy. His book offers theoretical insights and practical lessons on the forces shaping US trade policy at the start of the twenty-first century.
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