World Trade and Payments is renowned for its clear, in-depth coverage of international trade and finance. Along with its hallmark balance of empirical research and sophisticated models the Ninth Edition offers an all-new chapter on Emerging Markets, which takes a close look at the East Asia crisis of 1997-98 and complements nicely the existing chapter on LDCs and open economies. Two other new chapters appear in this edition: Chapter 25 on Interdependence and Chapter 26 on Supply, which have been adapted from the previous edition’s coverage of aggregate supply and policy coordination. As always, text, data, and example are updated throughout, and the text offers the latest on globalization, political economy of trade control, wages, international tariffs, multinational enterprise, development of newly industrialized countries, and the World Trade Organization.