Beyond Free Trade grew from the conviction of David B. Yoffie and some of his colleagues that current debates about world trade are missing the depth and complexity of the tremendous changes taking place in the international economy. In looking at firms that actually move goods, services, and capital around the world, the authors incorporate research on industries that cut across all spectrums: high tech (telecommunications, computers, and semiconductors); low tech (bearings, automobiles, and construction equipment); services (insurance); manufacturing; and raw materials. They argue that the invisible hand of Adam Smith and David Ricardo is being replaced by the guiding hands of multinational corporations and governments. As a result, politicians and firms now have the opportunity to structure global competition in new ways.
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