This book aims to assess how the economic linkages within the Triad are operating in terms of conflicts and cooperation, and to project how these linkages could work towards a positive-sum result in the future, so that economic growth and policy coordination progress with respect to the changing global economy. The editors of this volume contend that the discussion of the Triad economy might be a building block for a globally-oriented economy which complements the World Trade Organization and, in particular, the Asia Pacific Economic Cooperation (APEC). Put differently, economic linkages of the Triad would not only conform to the principles of the multilateral WTO and APEC, but should also produce a substantial improvement in the rules of those organizations which would harmonize their global and regional components successfully.

Foreword
Preface
Contributors

Introduction

Part Ⅰ. History, Policies and Economic Relations of the Triad
U.S. Viewpoint
1. The East Asian Trading Bloc: An Analytical History /Peter A. Petri
Japanese Viewpoint
2. Japan's International Trade and Trade Policy, 1955-84 /Ryutaro Komiya and
Motoshige Itoh
3. Japan-U.S. Economic Friction: Its Causes and HistoricalSignificance /Kazuo
Shibagaki
Korean Viewpoint
4. The Role of Foreign Trade in Korean Economic Development /Soon Cho

Part Ⅱ. Trade Conflict and Cooperation
U.S. Viewpoint
1. Free Trade is the Best Policy /Anne O. Krueger
Japanese Viewpoint
2. Is Japan Still an "Outlier"? /Heizo Takenaka and Tatsuya Ishikawa
3. Japan-Korean Partnership in a Dynamic Asia-Pacific Economy /Ippei Yamazawa
Korean Viewpoint
4. The Economic Relationship Between Korea and Japan: Rival orPartner?
/Woo-Hee Park

Park Ⅲ. Conflict and Cooperation in Investment & Foreign Exchange
U.S. Viewpoint
1. Capital Flows and Trade Imbalances: The U.S.-JapaneseInteractions /Robert
Z. Aliber
Japanese Viewpoint
2. Capital Flow Liberalization and Financial Market Opening inAsia-Pacific
Economies /Masahiro Kawai
Korean Viewpoint
3. Korea's Economic Diplomacy on Capital and Technology /Woo-Hee Park

Park Ⅳ. Conflict and Cooperation in Services and Technology
U.S. Viewpoint
1. Trade and System Conflict in Technology-Intensive Industries /Laura
D'Andrea Tyson
2. A Patent System for Both Diffusion and Exclusion /Janusz A. Ordover
Korean Viewpoint
3. Technological Development and R&D Policy: The Case of Korea /Youn-Suk Kim

Part Ⅴ. Mechanisms of Dispute & Settlement
U.S. Viewpoint
1. Ideas, Institutions, and American Trade Policy /Judith Goldstein
Japanese Viewpoint
2. Distribution Systems and Vertical Integration: Protectionismof Normal
Business Practice?
/Motoshige Itoh
Korean Viewpoint
3. The Political Economy of U.S.-Korea Trade Frictions in the1980s: A Korean
Perspective /Kihwan Kim
4. The Korean Antidumping System: Various Questions /Hyung-Jin Kim

Part Ⅵ. The Triad's New Economics: Perspectives on the Future
U.S. Viewpoint
1. The Next Fifty Years of Japan-U.S. Economic Relations /Paul A. Samuelson
2. Reconcilable Differences?: United States-Japan Economic Conflict
/C. Fred Bergsten and Marcus Noland
Japanese Viewpoint
3. APEC: An Enlarged Framework for the Triad /Ippei Yamazawa
Korean Viewpoint
4. Globalization and U.S.-Korea Economic Cooperation /Jang-Hee Yoo
5. The Regional Dynamism and Interdependence of Asia-PacificEconomies
/Youn-Suk Kim