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Prepared under the auspices of a distinguished international steering committee, this volume brings a global perspective to the unique problems posed by the competition for high-growth industries among nations with very different assumptions and priorities. The rationale, diversity, and growth of government programs to support high-technology industries are discussed, as are the risks this competition poses both for the multilateral trading system and for international scientific and technology cooperation. Yet the book also describes the powerful technological and financial incentives driving increased cooperation even among competing corporations and national programs and identifies the challenges that sustainable international cooperation must confront. The analysis stresses the link between sustainable international cooperation in the development of new technologies and the need for progress on access to markets and investment opportunities. It makes specific recommendations for changes in trade policy in areas such as R&D subsidies, investment, and government procurement. The study underscores the importance of government support for research, both for national missions and public-private research consortia, and encourages international efforts to reach agreement on principles of international technology cooperation. The volume's policy-relevant analysis and concrete recommendations make it an important contribution to the national debate on issues at the forefront of the international economic policy agenda.