This book analyzes the role of trade as a central pillar of the structural reform process and a bridge to capturing the dynamic development forces of an increasingly globalized world economy.

This book analyzes the role of trade as a central pillar of the structural reform process and a bridge to capturing the dynamic development forces of an increasingly globalized world economy.

We focus on the two eras of globalization: “then” (the period 1870 to 1913) and “now” (the period since the 1970s). We look at the special position in the global macroeconomy of the hegemons in each era: Britain then, and the United States now. And adducing historical data to match what...