The Wind of the Hundred Days
How Washington Mismanaged GlobalizationeBook - 2000
A collection of public policy essays about globalization argues that the Clinton administration embraced unsubstantiated anti-globalization rhetoric resulting in the paradox of domestic policy success and dramatic failure on the external front.
In The Wind of the Hundred Days, a new collection of public policy essays, JagdishBhagwati applies his characteristic wit and accessible style to the subject of globalization.Notably, he argues that the true Clinton scandal lay in the administration's mismanagement ofglobalization -- resulting in the paradox of immense domestic policy success combined with dramaticfailure on the external front. Bhagwati assigns the bulk of the blame for the East Asian financialand economic crisis -- a disaster that prompts him to use as his title the poet Octavio Paz's imageof devastation "I met the wind of the hundred days" -- to the administration's hasty push forfinancial liberalization in the region.The administration, Bhagwati claims, has also mishandled thefreeing of trade. The administration-hosted WTO meeting in Seattle ended in chaos and the launch ofa new round of multilateral trade negotiations was dashed. Bhagwati shows how the administration'sfailure to get Congress to renew fast-track authority can be attributed to an unimaginative responseto the demands of a growing civil society. In several essays, he shows how free trade and socialagendas both could have been pursued successfully if the concerns of human-rights, environmental,cultural, and labor activists had been met through creative programs at appropriate internationalagencies such as the International Labour Organization instead of the WTO and via trade treaties.Bhagwati also criticizes the claim that "globalization needs a human face," arguing that it alreadyhas one. He faults the administration for embracing unsubstantiated anti-globalization rhetoric thathas made its own preferred option of pursuing globalization that much more difficult.
Provocative essays on international trade, with particular focus on US foreign trade policy.
A collection of public policy essays about globalization argues that the clinton adminstration embraced unsubstantiated anti-globalization rhetoric resulting in the paradox of domestic policy success and failure on the external front.