Originally published as Volume 35, Issue 12 of The World Economy.

Print version record.

This is the nineteenth volume in an annual series in which leading economists provide a concise and accessible evaluation of major developments in trade and trade policy. Examines key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national levelIncludes chapters exploring WTO issues, and agricultural trading issues. Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews. Analyses global trade policy in areas such as Australia and Sri Lanka, and includes special sections on both China and Malaysia.

Includes bibliographical references and index.

""Title page""; ""Copyright page""; ""Contents""; ""Notes on Contributors""; ""TRADE POLICY REVIEWS""; ""1: Australian Trade Policy Strategy Contradictions""; ""Background""; ""The Australian Trade Policy Context""; ""Trade Policy Review""; ""Moving Forward from Preferentialism""; ""Conclusion""; ""References""; ""2: Trade Policy Review for China: Continuing Globalisation Amidst the World Financial Crisis""; ""Introduction""; ""Main Developments of China�s Trade Policies""; ""Economic Development and Structural Changes""; ""Domestic Investment and Consumption""; ""International Trade""

""Foreign Direct Investments (FDI)""""Outwards Foreign Direct Investments (OFDI)""; ""Key Challenges on China�s Economy and Trade""; ""Conclusions""; ""References""; ""3: Sri Lanka�s Trade Policy: Reverting to Dirigisme?""; ""Introduction""; ""Policy Context""; ""Economic Environment""; ""Policy Measures Directly Affecting Imports""; ""Export Duties and Incentives""; ""Foreign Direct Investment""; ""Other Policies Affecting Trade and Investment""; ""State-Owned Enterprises""; ""Automobile Industry""; ""Free Trade Agreements""; ""Conclusion""; ""References""

""SPECIAL FEATURE ON MALAYSIA""""4: Malaysia: A Success Story Stuck in the Middle?""; ""Introduction""; ""Malaysia�s Development Record""; ""a. Rapid Economic Growth""; ""b. Rapid Structural Change""; ""c. Consistent Openness""; ""d. Competent Macroeconomic Management""; ""e. Mixed Social Progress""; ""f. Sclerotic Political Economy and Institutions""; ""Is Malaysia �Stuck in the Middle�?""; ""Conclusion""; ""References""; ""CURRENT ISSUES IN CHINA""; ""5: Zhu Rongji Might Be Right: Understanding the Mechanism of Fast Economic Development in China""; ""Introduction""

""Some Stylised Facts About Capital Accumulation in China Over the Past 20 Years""""How Did the New Fiscal Reform Change the Growth Pattern?""; ""Role-Play of Regional Governments and Local Finance""; ""Conclusion""; ""References""; ""6: China and the World Trading System""; ""Introduction: The Challenge""; ""The WTO�s Responsiveness in Historical Context""; ""China�s Current Trade Ascendancy and its Implications""; ""a. Implications: the Elephant in the Green Room""; ""The Dominance to Come""; ""What would Future Trade Dominance Imply?""; ""a. Self-Interested Openness""

""B. Translating Power into Privilege""""Anticipating Dominance: Implications for Policy and International Cooperation""; ""a. Security of Access to Food, Energy and Other Resources""; ""b. Security of Access for Foreign Investments""; ""c. Limits to Climate Change�Motivated Trade Action""; ""d. Government Procurement""; ""e. Exchange Rates""; ""f. Tightening Disciplines on Discrimination""; ""Concluding Remarks""; ""References""; ""7: Chinese Networks and Tariff Evasion""; ""Introduction""; ""Literature Review""; ""Theoretical Background""; ""Data and Empirical Strategy""; ""Results""