Raw materials and Pacific economic integration

Abstract

The major focus of this volume is trade in raw materials, which is the basis for trade between Australia and Japan and, indeed, for the economic relations within the Western Pacific region. While dominance of world markets for raw materials is generally understood in Western Europe and North America, it is not yet appreciated in either country just how fundamental are her relations with her nearest neighbours in supplying the country's resource requirements. A quantitative analysis of the nature of economic relations between Japan, Australia and the developing countries in the Western Pacific and South-East Asia is presented together with a detailed consideration of an 'interdependant' economic relationship. The way in which trade and investment activity has produced a 'mutual dependence', the role played by long-term contracts in maintaining the relationship and the implications for domestic economic management are of special interest to all countries where trade is concentrated in particular markets or which have special relationships with considerably larger or smaller partners. Show more