EAST-WEST ECONOMIC-RELATIONS - OLD AND NEW FEATURES

This article broadly outlines the changes in East-West economic relati ons in the past five decades and discusses possible future development s. First it looks into the period from the Treaty of Versailles to the early Cold-War years; then it examines the emergence of two economic blocs in Europe. Finally, it considers the recent developments and the prospects opened up by the new political environment. The establishme nt in eastern Europe of market economies should lead to a significant reinforcement of East-West economic ties. However, the place of the ea stern countries in the international division of labour has still to b e found. In fact, the integration of these countries in the world econ omy may lead to a new international division of labour inside Europe. Hopefully, the west European countries will be prepared to adjust to t hese developments.