This book brings together a carefully edited selection of new and previously published articles by P.J. Lloyd on the opening of national economies to international trade and investment, and the formation of a truly global economy. It illustrates the major changes to the world trading system and international economy that have emerged as a result of the liberalization of trade and investment during the last few decades.The essays combine theoretical analysis with empirical research on trends in the global economy. Along with a biographical introduction, the book features new introductions to each of the parts on protectionism, trade liberalization, investment and trade in the Asia-Pacific and intra-industry trade. The book presents a unified treatment of trends at national, regional and multilateral levels, as well as discussing the recent Asian crises.This book will be welcomed by those interested in the developments which have led to the 'opening-up' of the global economy in recent decades as well as international trade specialists, those in government and international organizations, and growth and development economists.