ABSTRACT
The economy of the Western world is undergoing possibly one of the most profound transformations experienced since World War II. The Soviet Union's desire to play a more active role in the world economy seems to be genuine, and such a development will be welcomed in the West if the necessary improvements in its economy are brought about in a fair manner. The Soviet Union is now trying to force Japan into economic cooperation by playing the 'Korean card'. South Korean enterprises are showing increasing interest in trade with the Soviet Union to compensate for shrinking US markets. The Soviet administration is trying to restructure exports, stressing above all the need to export more manufactured goods. The Soviet Union has an ambassador to the European Community (EC) and is about to conclude a trade agreement with the Community it once regarded as an enemy.
