Choice Review

As an alternative to the extremes of free international trade and of protectionism, the author advocates trade management, ``the conscious control or influencing of international trade by government for governmental purposes.'' Drawing on 25 years of firsthand experiences observing the emergence of managed trade, he devotes much of the book to describing many of the diverse practices associated with that approach. According to the author, neither international institutions, the General Agreement on Tariffs and Trade (GATT), in particular, nor US law adequately confronts the challenges posed by those practices. To deal with the situation, he advocates strengthening US trade laws, improving the structure of the GATT, and developing a North American free trade area. The policy directions put forth by Waldmann are a unique contribution to the literature. This well-written volume is suitable for a general as well as professional readership.-E.L. Whalen, Indiana University-Bloomington