Part I. Introduction and Overview: 1. Prelude to the Pacific century: overview of the region, leading issues, and methodology Hiro Lee and David Roland-Holst; Part II. US-Japan and Asian Trade Patterns: 2. Cooperative approaches to shifting comparative advantage: the case of bilateral trade between the United States and Japan Hiro Lee and David Roland-Holst; Comment Peter A. Petri; 3. Is there an Asian export model? Marcus Noland; Comment Albert Fishlow; Part III. Regional Trading: Arrangements in the Pacific Basin: 4. Should East Asia go regional? Arvind Panagariya; Comment Barry Eichengreen; 5. Political feasibility and empirical assessments of a Pacific free trade area Hiro Lee and David Roland-Holst; Comment Alain de Janvry; 6. Regionalism in the Pacific basin: strategic interest of ASEAN in APEC Tan Kong Yam; Comment Pearl Imada Iboshi; Part IV. Foreign Direct Investment: Determinants and Consequences: 7. The determinants of foreign direct investment: a survey with application to the United States Peter A. Petri and Michael G. Plummer; Comment Jeffrey H. Bergstrand; 8. Are trade and direct investment substitutes or complements? An analysis of the Japanese manufacturing industry Masahiro Kawai and Shujiro Urata; Comments Julia Lowell; 9. Korea's outward foreign direct investment and the division of labor in the Asia-Pacific Jai-Won Ryou; Comment Chung H. Lee; 10. China's absorption of foreign direct investment Shang-Jin Wei; Comment K. C. Fung; 11. The impact of foreign investment in Indonesia: historical trends and simulation analysis Iwan Azis; Comment William E. James; Part V. Trade Resources and the Environment: 12. Economic development and the environment in China Wang Huijiong and Li Shantong; Comment Mark Poffenberger; 13. Outward orientation and the environment in the Pacific Basin: coordinated trade and environmental policy reform in Mexico John Beghin, David Roland-Holst, and Dominique van der Mensbrugghe; Comment David Zilberman and Linda Fernandez.