Külgazdaság, 1986 (30. évfolyam, 1-12. szám)

1986 / 6. szám - Angol nyelvű tartalmi kivonatok

SUMMARY OF THE ARTICLES Internal free trade and world economy integration (Thoughts on the basis of the Cockfield-report) ÁDÁM TÖRÖK The 1985 december summit of the EEC countries decided that by 1992 the members will esta­blish a really homogenous internal market. The decision, which means the confession of the fact that the abandonement of the trade policy barriers among member states did not call into exis­tence a really free trade, was based on the so-called Cockfield report. It can be witnessed, that while reports of such kind in the sixties and partly in the seventies mainly dealt with the long­term direction of the development of the integration, presently more emphasis is given to the factual problems of co-operation. One example of that is the Cockfield report, which examines the possibilities of the entire free trade within the EEC. The author also raises the problem that in the wake of the Cockfield report the drift of increased regional autarchy might gain a greater strength in the EEC integration process. The CMEA — countries and international trade of engineering products ANDRÁS INOTAI The trade of engineering products—in spite of two long-lasting periods of recession—has shown a rather dynamic increase in the capitalist world economy after 1973. The most impor­tant structural changes have taken place also in this field, in close relation with the changes in investment demand and with the evolving electronics revolution. Developed industrialized countries were forced to adopt, as well as developing countries, entering international division of labour in the engineering industry only lately. Simultaneusly, it was the area, where some CMEA—countries, being short of raw materials but having a developed industrial background, planned an over the average expansion of exports and the speeding up of structural transfor­mation. Bilateralism in the Western world (Thoughts on protectionism, the debt crisis and the indebtedness of the U.S.) GÉZA KOZMA The problems raised most frequently in Western papers in the articles on economic issues last year somehow give the impression as if the changes that has taken place for the last fifteen years in the product and country structure of world trade and in direction of capital flows had caused undesirable distortions in the product and capital turnover between countries and country groups, and as if the desired state were an establishment of bilateral balances. This is in the background when the need of protection against exports from the developing countries or Japan is emphasised—which behaviour results in an aggravation of the debt crisis, or when the financ­ing of the U.S. blance of payments deficit from external sources is looked upon as a factor hampering development. These problems—the solving of which is more complex than is thought by the first glance, because they reflect a deeply-rooted social behaviour, and economic policy measures aimed at rapid results might get the situation even worse — are analyzed in the article from a theoretical point of view. Foreign venture capital investments in developing countries. The factors of site selection LÁSZLÓ LÁNG From the viewpoint of less developed countries, foreign venture capital is a scarce resource. Furthermore, an ever fiercer competition is going on among countries „disenchanted" of finance capital for it. Most of them try to win the propensity of foreign investors by granting real or

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