By World Bank, Economic Development Institute (Washington, D.C.)
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The Community retorts, not without justification, that agricultural subsidies are applied on more than one side of the Atlantic. This underlines the problems that arise when all countries try to subsidize the same product. A trade dispute of crisis proportions arose following the 1986 enlargement, when the United States claimed that their agricultural exports to the Community would suffer as a result of the extension of the CAP regime. S. beef containing hormones. The value of trade involved was only US$100 million, an insignificant sum in the context of total Community imports from the United States of US$66,000 million.
4 A final factor in explaining the increased use of protection has been a sense of dissatisfaction with the GATT safeguards code. 4 Examples of policies guided by such concerns include those concerning the Airbus, video cassette recorders, and high-density televisions. European policymakers fear that the failure to develop a European high-density television system could at worst lead to all televisions being bought from Japan and all television programs being bought from the United States. Since 1985, the deterioration in the European Community's share of this trade has been halted, in part because of faster growth and more market integration.
5 Export-enhancing schemes, such as assistance for marketing in Japan and special visit and study programs, have been initiated to ensure that European business is in a position to make the maximum use of improved access to the Japanese market. Japanese investment in Europe has also been increasing rapidly. Britain has been a major beneficiary of this trend, and the community's less-developed regions, which include Ireland and the Mediterranean countries, have a keen interest in raising their share.
Africa and the European community after 1992 by World Bank, Economic Development Institute (Washington, D.C.)