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Beginning with a detailed discussion of the World Trade Organisation and the Uruguay Round and its achievements, this book delves into the causal factors behind the failure to launch the new round of multilateral trade negotiations in Seattle in December 1999. Dilip K. Das tries to determine the precise point reached by the global trading system an
This book delves into the causal factors behind the failure to launch the new round of multilateral trade negotiations in Seattle in December 1999. It will be very useful to advanced students and professional economists.
This book takes a critical look at the current multilateral trade negotiations and addresses many of the challenges facing the global trading system. The book explores why the GATT system is not meeting America's needs.
When designing a world trading system for the twenty-first century, “Keep calm and carry on” beats “Move fast and break things.” Global trade is in trouble. Climate change, digital trade, offshoring, the rise of emerging markets led by China: Can the World Trade Organization (WTO), built for trade in the twentieth century, meet the challenges of the twenty-first? The answer is yes, Robert Staiger tells us, arguing that adapting the WTO to the changed economic environment would serve the world better than a radical reset. Governed by the WTO, on the principles of the General Agreement on Tariffs and Trade (GATT), global trade rules traditionally focus on “shallow integration”—with an emphasis on reducing tariffs and trade impediments at the border—rather than “deep integration,” or direct negotiations over behind-the-border measures. Staiger charts the economic environment that gave rise to the former approach, explains when and why it worked, and surveys the changing landscape for global trade. In his analysis, the terms-of-trade theory of trade agreements provides a compelling framework for understanding the success of GATT in the twentieth century. And according to this understanding, Staiger concludes, the logic of GATT's design transcends many, if not all, of the current challenges faced by the WTO. With its penetrating view of the evolving global economic environment, A World Trading System for the Twenty-First Century shows us a global trading system in need of reform, and Staiger makes a persuasive case for using the architecture of the GATT/WTO as a basis for that reform.
China, the world's sixth largest economy, has recently joined the rules-based international trading system. What are the implications of this accession? Leading scholars and practitioners from the US, Europe, China, Australia and Japan argue that China's membership will affect the WTO's decision-making, dispute resolution and rule-based structures. It will also spur legal and economic reform, have far-reaching social, political and distributional consequences in China, facilitate a new role for China in international geo-political affairs, and alter the shape, structure and content of the international trading system as a whole. Of interest to scholars of China, as well as trade lawyers and economists.
Despite its widely acknowledged contribution to global prosperity over the past half century, the movement toward further liberalization has increasingly been challenged. This collection of essays examine several key issues at the heart of the debate over the multilateral trading system.
Set against the backdrop of the spectacular failure of the Doha Round of world trade talks, this fascinating yet crucial analysis examines some of the fundamental problems of world trade law, such as its position in the system of public international law. It also looks at, among many other things, problems of legitimacy and democratic control, and some of the more practical items on the agenda, including whether the Doha Development Round really fostered development.
A Brookings Institution Press and the Center for Business and Government at Harvard University publication The multilateral trading system stands at a crossroads. Despite its widely acknowledged contribution to global prosperity over the past half century, the movement toward further liberalization has increasingly been challenged. These essays by leading scholars and trade officials honor Raymond Vernon, one of the architects of the international economic institutions established following the Second World War. The book examines several key issues at the heart of the debate over the multilateral trading system. What are the global efficiency gains from further liberalization? How can efficiency gains be maximized while respecting legitimate claims to sovereignty? Is the trading system affording an equitable distribution of benefits between countries and among various groups within societies? Does civil society have a role in the trading system? What role should the World Trade Organization and its dispute settlement procedures play in resolving disputes and enhancing legitimacy?
With ever increasing levels of international trade, many countries are now completely dependent on cross border trade. However, the suspicion that individual countries are not playing by the rules is leading to 'trade friction', and the real possibility of costly trade wars. The World Trading System includes material on: * the origin and development of the world trade system since Bretton Woods * dispute settlement in the world trading system * administered protection and non-tariff barriers * the Uruguay Round and beyond Whilst the focus of the collection is economic, it also explores the perspectives of international political economy, international business and law.