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Section 1: Introduction Supachai Panitchpakdi  Section 2: New Trade Strategies in the Americas.  The Past 20 years of Trade Policy: What Have We Learned so far and What are the Lessons for Latin America? Michael Hart.  New Trade Strategies in the Americas Sherry Stephenson. The FTAA-WTO Divide: The Political Economy of Low Ambition Mario A. Marconini.  Trade Liberalization as a Moral Imperative Richard Fisher  Section 3: Regional and Sub-regional Agreements in the Western Hemisphere.  NAFTA Regionalism in North America: NAFTA and the Mexican Case Victor Lopez Villafane and Mariana Rangel Padilla.  CACM Central America in a Free Trade Area for the Americas Alberto Trejos. MERCOSUR MERCOSUR and US: No Finishing Date Felipe Frydman. Caribbean: The Caribbean Community - Integration among Small States Anneke Jessen.  Other Trends in Latin American Integration: An Overview Osvaldo Rosales, Jose E. Duran Lima, Sebastian Saez  Section 4: Results of North American and Hemispheric Trade Negotiations.  Does the FTAA Have a Future? Jeffrey Schott.  Competing for the US Import Market: NAFTA and Non-NAFTA Countries Jorge Chami Batista.  Beyond FTAs: Deepening North American Integration Wendy Dobson  Section 5: Interaction of Regional and Global Trade Agreements.  Interactions of Regional and Global Trade Agreements Sylvia Ostry.  Interactions between Regional and Global Trade Agreements Gary Hufbauer.  Cleaning up the Spaghetti Bowl John Curtis.  Isolation, Intervention, and Exchange Rights: Principles in Trade Theory Earl Grinols  Section 6: Afterword Joseph McKinney, H. Stephen Gardner