Book Description
In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in which the classical theories originated. Gomory and Baumol show that the new and significant conflicts resulting from international trade are inherent in modern economies.
Today improvement in one country's productive capabilities is often attainable only at the expense of another country's general welfare. The authors describe why and when this is so and why, in a modern free-trade environment, a country might have a vital stake in the competitive strength of its industries.
Customer Reviews:
Interesting Discussion but poor Presentation.......2004-02-23
The first thing that struck me was the large number of typo's.
Starting with page 4: "when we does development abroad help"
and on through the rest of the book. Also, the graphics appear
crude.
In part 1, I could not find any reference to the fact that
"free" trade does not exist in the real world. Countries use
tariffs, taxes, subsidies, etc. to further their own interests.
Understanding International Trade.......2001-04-09
A must read book for anyone with an interest in International Trade. Gomory and Baumol take an insightful look into trade in this era of multinational companies, expanded trade and developing countries. They develop a technique to determine whether a trade decision is mutually beneficial (or detrimental) to the parties. While no "magic" formula to precisely determine the benefits of an individual trade decision, at least there is a cogent framework to start from.
As a lay reader it was apparent that to assure our continued growth and successes that we must continually innovate to create the next big retainable industry as well as continue productivity gains to compete with low wage developing countries in easy to enter industries where we have a major interest.
An exceptionally thorough analysis of today's world of trade.
Trade For Dummies.......2001-04-03
Don't be put off by the title. This book should be called "Trade for Dummies." The authors kindly start where most of us left off in Econ 101 - with comparative advantage. We all remember that nature endowed England with a comparative advantage in wool, and Portugal in wine, so that this trade was an obviously good thing.
But what about today's vastly more complex economy where considerations go far beyond the mere geography of natural resource distribution? What about the role of industrialization? Or technology? Or information? Who has what advantage? And how to measure it? The authors have solved this seemingly daunting task, and present their conclusions in a few simple graphs that could fit easily onto Mr. Laffer's napkin.
How do I know that they solved the problem of reducing all the complexities of international trade to a few simple graphs? Well, I really don't know because I am not enough of an economist or mathematician to follow the technical stuff, but the authors very kindly put all that in the second half of this slim volume as kind of an appendix for the professionals. That the two authors are a leading economist and a leading mathematician is obvious from the brief biographies. And that the work passes professional muster is obvious from the blurbs. So while I can't personally check the authors' assumptions and methodology, I can accept and fully understand their conclusions as set forth in the first half of the book - the only part I read.
Not surprisingly, the graphs show that most international trade is indeed mutually beneficial. But not all. The graphs also reveal what the authors call a zone of conflict. It is to this area that attention needs to be paid. What attention do the authors suggest? Well, they are a little coy. I suspect that at this stage they are just trying to get acceptance for their framework of analysis. Anyone questioning any aspect of unrestricted free trade today is subject to being labeled a protectionist, which is only one step above racist, so the authors understandably tread very carefully.
A splendid and provocative little book dealing with a very big subject.
Gripping Eye Opener.......2001-04-03
These 73 pages kept this layman engrossed and enlightened. You learn why World Peace through World Trade ain't necessarily so, but can be a win-win situation for nations who understand the theory of the Global Trade game.
In cogent and concise language,the two gifted authors upset the notion that a dollar of National Trading Income is indifferent to what is being traded. National Trading Income from a "retainable" industry like computer chips produce strategic strengths for a nation compared to the same amount of National Trading Income from potato chips.
This new vector on Global Trade alerts business leaders to rearrange intellectually their risk-reward equation to secure a more favorable outcome.
Great stuff!.......2001-02-09
Gomory and Baumol are two heavy-weights from the world of Economics, Industry and Mathematics who have made use of a lifetime's worth of observations to create a new theory of international trade. Their work is truely original, theoretically rigorous, and highly applicable to real-world problems: A powerful combination. As a graduate student in economics, I have found few books so compelling.
Customer Reviews:
Good book to follow Econ 101 macro/micro.......2006-07-05
Required reading for my MBA program. A short but good story. Interesting. Read in one day.
Recommend this book, along with "naked economics: undressing the dismal science" by Charles Wheelan and "The Undercover Economist" by Tim Harford. These books provide interesting reading to help supplement learning about economics. All three books are more interesting than economics textbooks filled with charts, graphs, curves, shifts, etc.
Ricardo fan.......2006-06-30
The Choice is an easy read with big benefits. In this concise, well written narrative, Roberts explains one of the most important concepts in economics--the importance of free trade. Everyone in America should read this book.
Simple, Elegant and Wrong.......2005-07-27
Roberts' little fable pits a wholly benign free-trade against absolute protectionism and guess which one looks better. Based on the theories of David Ricardo, the fable assumes that every worker in the world is always treated fairly and every boss is kind and responsible. In The Choice there are no sweat shops and no corrupt CEOs. Fables like The Choice (or the "free-market economy" for that matter) are easy to believe because we want the world to be that simple. That's why the book is dangerous. The Choice has almost nothing to do with the real world, but it sounds good. The argument is so seamless that it appears almost unassailable. If you buy Roberts' version of Ricardo, however, you must accept Wal-Mart as the epitome of business virtue.
Roberts may be a great guy, and he certainly writes well. Unfortunately, his book begins with a series of fallacious premises and works its way toward a conclusion that is simple, elegant, and horribly wrong.
An absolute Must Read.......2005-03-23
Short, Fun, and easy to understand, this book is a must read for all audiences. Whether students struggling in Econ class, Teachers of Business school, or just evening news watchers who would like - for once - to understand the sentences that come after "Leading Economists are saying today . . ." I highly recommend buying two copies. You will definately want to recommend this one. A real eye opener for free-traders, and a wonderful teaching tool for those "in the know". Roberts nails it!
Superb Book.......2004-04-05
I'll make this as brief and simple as does Mr. Roberts. This is, without question, a superb book. It is the title to which I refer almost everyone interested in the free trade debate. Thank you, Russell Roberts.
Book Description
Written as a novel, the book makes the complex concepts, issues and terminology of international trade understandable for students. Professors complain that their students cannot grasp the nature of how some economic tools are used or how they work in life. This novel bridges the gap of concepts with applications by use of a fictional story.
David Ricardo comes to life to discuss international trade theory and policy with Ed Johnson, a fictional American television manufacturer seeking trade protection from television manufacturers. Their dialogue is a sophisticated, rigorous discussion of virtually every major issue in trade theory and policy. To illustrate the positive and normative effects of international trade and trade policy, Ricardo takes the reader and Ed Johnson into the future to see an America of free trade and an America of complete self-sufficiency. The fictional element brings these topics to life so that students gain the intuition and understanding of how trade changes the lives of people and the industries they work in. The fundamental intuition of how international markets function including general equilibrium effects and policy analysis is provided.
Customer Reviews:
Wish "It's a Wonderful Life" were more like this.......2007-08-24
I don't really consider this a work of fiction, and neither does the author. It is in a fiction format, but its primary purpose is to make the case against protectionism, and for free markets. Roberts does this beautifully, raising and dismissing almost every argument for protectionism, and doing this with charm, wit, and almost a complete lack of venom.
The story follows the time-traveling journey and conversation of Ed Johnson (a businessman looking for protection form Japanese competition) and his guardian angle David Ricardo (modeled after the little-known economist.) Together they travel to the future, back to the past, and through alternate timelines to demonstrate Robert's point.
Through this journey, Ricardo corrects some critical mistakes in economic theory; such as the `zero-sum theory', misconceptions on the nature of supply and demand, the role and meaning of wages and `real' wages, the mythical "dangers" of a trade deficit, what imports and exports really are, and most of all, dismisses the myth that trade with other countries hurts the American worker overall (which he admits, in a smaller sense, it sometimes does.)
The book takes some leaps of logic, which the author fully admits in the back of the book; such as the town of Star (Ed's hometown) being unchanged in the `protectionist' universe. These little plot devices are not meant to represent reality, but demonstrate more abstract points, in that sense, it is more like a metaphor.
Overall, the book makes one of the strongest cases ageists the practicality of protectionism that I have ever heard. He also fits some talk as to the moral case against it, that it is really an issue of freedom, and no one person has the right to force another in to a certain kind of behavior (A.K.A., buying American products) and that "America" is all about dreams and growth, something not very possible in the protectionist world
My only complaint would be that I wanted more elaboration on some sections of the `conversation'; such as the `dumping' segment. Robert's makes a good case that dumping is not really practical for anybody, that the `dumper' would have to make up for lost profits from lowering their prices. What I don't understand is....what if a company could cover their lost profits in profits from another product, or section of their company (Such as a department store lowering prices on televisions and allowing the produce-department to cover the loss.) I wish Robert's would have gone in to slightly more detail.
There are several section of the book like this; but I want to make clear is that Robert's never claims that this is the ultimate source for `anti-protectionist' arguments, he even suggests further reading in the back of the book, something all reasonable people should do if they are truly interested in understanding the complexities of economics.
I love Robert's style of writing, his books are not just informative, but entertaining, something very hard to achieve for this subject matter. The book was good enough that I ordered His other book, The Invisible Heart, form Amazon. After seeing what he did to It's a Wonderful life, I can't wait to see what he does for a romance novel.
How free trade benefits us all.......2006-11-29
This is the third edition of Roberts' novel about the benefits of free trade, using "It's a Wonderful Life" as his template. David Ricardo "touches down" from heaven to earth (like Clarence), to help convince Ed (George Bailey) that he should not support protectionism. The previous versions focused more on threats that were perceived from Japan and Nafta. Here, Roberts uses India and China as his examples.
To me, one of the most appealing things about Roberts' work is his honesty. He doesn't pretend that economic change doesn't hurt, but he also focuses on the benefits in the longer term. He writes in such a pleasant style that economics becomes accessible to people who are "math phobic."
His other book, The Invisible Heart, is at least as good as this one.
Book Description
"A groundbreaking and extremely innovative book that deserves to receive widespread attention."
--Thomas J. Bernard, Pennsylvania State University
"As American are becoming increasingly sensitized to ingrained racial pathologies, Katheryn Russell's book, particularly her highly original chapter on racial hoaxes, is a crucial addition to the national discussion on race."
--Jody Armour, Author of Negrophobia and Reasonable Racism
"Russell brilliantly scrutinizes the demonization of black men in the mass media and criminal justice system. Since slavery whites have fabricated fictions of dangerous black men and a distinctive 'black crime,' while playing down the real dominance of (unnamed) 'white crime.' Russell demonstrates that media distortions and racial hoaxes grow from and feed black demonization. Reviewing the failure of reforms to create a fair criminal justice system, and society, she offers imaginative, workable solutions."
--Joe R. Feagin, Coauthor of White Racism
"A groundbreaking and extremely innovative book that deserves to receive widespread attention."
--Thomas J. Bernard, Pennsylvania State University
When Americans are asked what concerns them most about the direction of the country, crime and racial tensions invariably figure prominently in the answer. In the minds of many, these two problems are inextricably linked. Yet opinions and beliefs about race and crime are often informed as much by myth and preconception as by fact and reality.
In this important book, Katheryn K. Russell surveys the landscape of American crime and identifies some of the country's most significant racial pathologies. Why do Black and White Americans perceive police actions so differently? Is White fear of Black crime justified? Do African Americans really "protect their own"? Should they?
Perhaps the most explosive and troublesome phenomenon at the nexus of race and crime is the racial hoax--a contemporary version of The Boy Who Cried Wolf. Examining both White-on-Black hoaxes such as Susan Smith's and Charles Stuart's claims that Black men were responsible for crimes they themselves committed, and Black-on-White hoaxes such as the Tawana Brawley episode, Russell illustrates the formidable and lasting damage that occurs when racial stereotypes are manipulated and exploited for personal advantage. She shows us how such hoaxes have disastrous consequences and compellingly argues for harsher punishments for offenders.
Stressing that journalists, scholars, and policymakers alike have an ethical imperative to disregard and refute inflammatory or wrong-headed work on race,
The Color of Crime is a lucid and forceful book, impossible to ignore.
Book Description
Free trade can help 500 million people escape poverty and inject $200 billion annually into the economies of developing countries, according to a new study from the Institute for International Economics. Trade Policy and Global Poverty by William R. Cline provides a comprehensive analysis of the potential for trade liberalization to spur growth and reduce poverty in developing countries. It quantifies the impact on global poverty of industrial-country liberalization, as well as liberalization by the developing countries. Cline finds that the stakes of the poor in trade policy are large. Global free trade would convey long-term economic benefits of about $200 billion annually to developing countries. Half or more of these gains would come from the removal of industrial-country protection against developing-country exports. By removing their trade barriers, industrial countries could convey economic benefits to developing countries worth about twice the amount of their annual development assistance. By helping developing countries grow through trade, moreover, industrial countries could lower costs to consumers for imports and realize other increased economic efficiencies.
The study further estimates that free trade could reduce the number of people in global poverty (earning less than $2 per day) by about 500 million over 15 years. This would cut the world poverty level by an additional 25 percent. Agricultural liberalization alone contributes about half of these gains. Cline judges that the developing countries were right to risk collapse of the Doha Round at the Cancún ministerial meeting in September 2003 by insisting on much deeper liberalization of agriculture than the industrial countries were then willing to offer.
The study calls for a two-track strategy. The first track is deep multilateral liberalization involving phased but complete elimination of protection by industrial countries and deep reduction of protection by at least the middle-income developing countries, albeit on a more gradual schedule. The second track is immediate free entry for imports from "high risk" low-income countries (heavily indebted poor countries, least developed countries, and sub-Saharan Africa), coupled with a 10-year tax holiday for direct investment in these countries.
Book Description
Author Hank Van den Berg had a fourteen-year career in the US State Department and with multinational companies overseas prior to getting his PhD at the University of Wisconsin. As a result, international economics has been a favorite subject for him. After eleven years of teaching International Economics in a variety of Colleges at the University of Nebraska (Business Administration, Arts and Sciences, and Architecture), Hank was ready to begin his own text. He was particularly interested in writing a book that would engage students more than the existing ones do and appeal to the diverse audience he has taught (adult students, students from a variety of countries, students with a variety of academic interests).
Customer Reviews:
A Gentle Ease into the Subject.......2007-02-12
I am currently using this text book for an independent study and am finding that Dr. Van den Berg eases the reader into the subject gently, instead of other texts that I have used for my Economic education that slam information at you without any explanation or discussion notes. This text also makes good use of scenarioes and explaining the models that are used.
The text is meant for a 300-level course in Economics, preferably after a student has completed his or her studies in the fundamentals of economics and the intermediate micro and macro texts. Still, I am finding this text much easier to work with than the Intermediate Microeconomics text that I had to read previously.
I also recommend the study guide that Dr. Van den Berg has written for this course, which provides a slimmed down version of the text and makes a good complement to the text.
Average customer rating:
- Useful Introduction
- Poorly written, Badly Organized and Factually Incomplete
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How Nations Grow Rich: The Case for Free Trade
Melvyn Krauss
Manufacturer: Oxford University Press, USA
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ASIN: 0195112377 |
Amazon.com
Hoover Institution economist Melvyn Krauss provides an easy-to-understand primer on why international markets serve national economies well. Protectionism in all its forms takes a beating on these pages. Krauss goes after environmentalists who opposed NAFTA, human rights activists worried about child labor, and consumer advocates concerned about safety. Closed economies do not advance any of these interests, says Krauss. His arguments occasionally proceed through straw men (a newspaper column by Anna Quindlen is the centerpiece of one section), but they are sound and persuasive. We all want fair trade, but Krauss shows that we're not likely to get it unless we have free trade first.
Book Description
There can be no doubt, writes economist Melvyn Krauss, that the prosperity of the industrial nations since the Second World War has been due largely to global specialization and interdependence. No one country does all tasks today -- products are designed in one country, produced in another and assembled in a third. The increased standard of living resulting from global specialization in turn has led to the growth of the modern welfare state, including an increased demand for economic security and social measures which guarantee politically-determined minimum consumption standards for citizens. Ironically, says Krauss, as the debate over the North American Free Trade Area (NAFTA), the General Agreement of Tariffs and Trade (GATT) and the recently established World Trade Organization demonstrate, today's welfare state has evolved into a protectionist state. U.S. consumer advocates (Ralph Nader) see free trade as a threat to consumerist legislation. U.S. environmentalists (Jerry Brown) see free trade as a threat to environmental legislation. U.S. human rights advocates (Anna Quindlin) see free trade as a threat to human rights abroad. In How Nations Grow Rich, Krauss argues there is no inherent reason why the growth of the welfare state in the Western industrial countries should conflict with free trade that is, there is no inherent reason for the welfare state to be protectionist. Exposing fallacious "welfare state" arguments for protection, Krauss makes a powerful case for free trade in general, and NAFTA in particular, as mechanisms for raising U.S. living standards. Americans are made better off through a reallocation of U.S. productive resources from lower-to-higher productivity uses--from textiles to computers, for example. Moreover, by raising wages in Mexico relative to the U.S., Krauss expects NAFTA to help reduce both legal and illegal immigration. Were states like California to reduce their generous social services and affirmative action programs, labor immigration from Mexico would fall to politically acceptable levels. Krauss' novel insight that migration and foreign trade are alternative means of effectuating international exchange is used in this lively and informative book to shed light on a host of important policy issues. By the very act of restricting textile and apparel imports, the U.S. virtually compels foreign textile workers to migrate to the U.S. The European Union's tariff against East European exports provokes a flood of Eastern workers to Western Europe. In How Nations Grow Rich, Krauss dispatches both traditional and newer arguments for protection with unusual verve and clarity. Addressing the belief that protectionism boosts employment, he points out that import restrictions can destroy U.S. jobs when imposed on materials we use as parts. For example, in 1991, Apple and Toshiba suffered a dramatic increase in their production costs as a result of a 63% tariff on imported Japanese flat-panel display screens. This "protect-America" policy backfired, causing these two mega-companies to move their production facilities abroad. In response to protectionist demands that the U.S. close its markets until Japan reduces its trade barriers against U.S. goods--that trade be fair before it can be free--Krauss points out that in a market economy where consumers are kings, only a consumer-based equity standard is valid. Thus what the "fair trade" protectionist argument really comes down to is the nonsensical proposition that because foreign countries damage their consumers by foolish protectionist measures, equity demands the United States follow suit. This wide-ranging and stimulating book clarifies such important and often inaccessible issues as development policy, foreign aid, trade sanctions, child labor, human rights trade linkages, immigration, European Monetary Union and affirmative action trade policies. How Nations Grow Rich is must reading for anyone concerned with public policy and international economics.
Customer Reviews:
Useful Introduction.......2000-08-27
A reasonable quick introduction to free trade from someone who is obviously much in favour of it. Doesn't go deeply into things and is heavily based on fairly recent US-orientated examples. It appears to be reasonably well researched and the author backs up his points well but the book does not really grip or inspire you.
Poorly written, Badly Organized and Factually Incomplete.......2000-02-04
This book presented an immensly skewed version of the realities of free trade's impacts on global society at large. It glossed over very real arguements against free trade and instead inflated what was obviously a predetermined and subjectively biased agenda in favor of the standard free trade dogma that has become so prevalent in corporatized American thinking. A must read for those who haven't yet read the typical free trade drivel, but a snoozer for those that have begun to see beyond it.
Average customer rating:
- Friedrich List's System of Nationalism and Protectionism.
- One of World's Most Important Unread Books.
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The National System of Political Economy (Reprints of Economic Classics)
Friedrich List
Manufacturer: Augustus M Kelley Pubs
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Binding: Hardcover
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ASIN: 067801454X |
Customer Reviews:
Friedrich List's System of Nationalism and Protectionism........2002-10-15
In _The National System of Political Economy_, Friedrich List advocates an economic policy of nationalism based on the philosophy of protectionism. List argues that protectionism can lead to greater national economic benefit and argues against the system of laissez-faire free trade. The book is divided into four parts: The History, The Theory, The Systems, and The Politics, each focussing on a particular aspect of the theory of protectionism. List rails against the "cosmopolitical" theory of free trade economists such as Adam Smith as espoused in his _Wealth of Nations_. In particular, List contrasts the systems of protectionism in America and Germany against the system of free trade advocated by the British. He gives the history of the rise of the Hanseatic League in Germany against the British. He advocates abolishing the tariffs between the individual German states but erecting a tariff wall around the German nation, thus creating a strong federated Germany. List refers to this as the "insular supremacy of the Continental powers". Against Britain, List advocates a protectionist policy for North America as well. Of particular interest is List's discussion of the difference between agriculture and manufacturing powers. For instance, List contends that an agriculture nation without manufacturing will remain subsidiary to a nation which has manufacturing. Thus, the need for creating a nation which can sustain both manufacturing and agriculture. Rather than the individualistic standpoint of economists such as Adam Smith, List argues for political economy to be seen from the standpoint of the nation. The book contains many further insights into the value of protectionism as a trade policy to create a strong national economy. In a world being continually driven in the direction of mass globalization and technocracy, this book by List offers an alternative policy to maintain national sovereignity. While the classic works of free trade economics are highly important, especially the ideas of their originator Adam Smith, List offers cogent critique based on his nationalistic point of view. In sum, this book provides a much needed remedy to the dangers of globalization and the New World Order. Unfortunately, the advice of nationalist thinkers is not being heeded in today's political climate.
One of World's Most Important Unread Books........1999-06-07
This book is very hard to find now. If you come by it in a large academic library you might note that it hasn't been checked out in a couple of decades or more. It is in fact the first, and probably still the most powerful, challenge to Adam Smith, David Ricardo and colleagues who developed the tenets and assumptions of the Free Trade, Laissez-Faire movement, starting in 1776 with Smith's 'The Wealth of Nations'. Published in the 1840's, it comprehensively compares national systems which promote industrial and agricultural development through tariffs and government support, notably the German and American systems, with the British colonial system of unrestricted Free Trade. It is a powerful indictment of the underlying motives and effects of the colonial system. The book has gone into extreme disfavour and total exclusion from college curriculums as these have gravitated to roles of corporate apologists or to reactions of Marxist and post structural ideology. It cogently presents, however, the argument against the world wide movement to limit economic sovereignty of nation states, and paints a grim picture of the inevitable result of unrestrained Free Markets, notably in the experience of British workers during the Industrial Revolution. The experience of the early to mid 19th Century, where these competing systems could be seen in very pure form by comparing the American and the British models, presents a compelling case for the National System List describes. Our current economic leaders do not want you to read this book, even as the leaks in Globalism start to bust down its dikes and even with a growing body of contrary modern opinion as to the benefit of Free Markets. If you read the 'Wealth of Nations' (or even better Ricardo's theories of Comparative Advantage.. free of Smith's distracting meditations on Moral Sentiments) do your self a favour and read the National System of Political Economy as well and see whose arguments, proven by human experience, win the day. It explains much of what is going on in the world today and presents alternatives to our current path at this critical point in history.
Book Description
The second edition of this classic text on international economics includes three completely new chapters on the environment and trade policy, strategic trade policy, and the relationship between trade policy and the exchange rate. The first edition introduced a number of ideas into policy circles; the new edition has been shortened and substantially revised to point up the themes that have subsequently become prominent in discussions of free trade and protection. Trade Policy and Economic Welfare expounds the normative theory of trade policy. It includes discussion of static and dynamic arguments for protection; effects of trade policy on income distribution, monopoly, X-efficieny, foreign investment and capital accumulation; protection of advanced-technology industries; the choice between tariffs and subsidies as methods of protection. The chapters are self-contained to allow flexible use of the book in teaching undergraduate courses on international trade and the economics of developing countries.
Average customer rating:
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A Trade Policy for Free Societies: The Case Against Protectionism
Robert W. McGee
Manufacturer: Quorum Books
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Binding: Hardcover
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ASIN: 0899308988 |
Book Description
McGee takes the position that the only proper trade policy is one of total, immediate, and unilateral free trade, since such a policy is the only one that is consistent with individual rights. He also explodes the myth that trade deficits are bad and advocates the repeal of the antidumping laws, incorporating rights theory as well as utilitarian arguments. This book is unique in that it (1) does not limit itself to utilitarian arguments, (2) explains why trade deficits are irrelevant, and (3) calls for immediate repeal of the antidumping laws. Part I discusses the philosophy of protectionism and reviews nearly two dozen arguments that projectionists have used to restrict trade. A whole chapter is devoted to exploding the myth that trade deficits are bad. Part II elaborates on the monetary and nonmonetary costs of protectionism. Part III addresses the philosophy and practice of antidumping policy in the United States, and shows why the policy is irrational, destructive and anti-consumer, and concludes that repeal rather than reform is called for. Part IV discusses other issues, such as the policy options for Europe, the effect of competition on prices and efficiency, the stages of economic development and their connection to trade policy, and the irrationality of the United States trade policy toward Eastern Europe.
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