The Multilateral Trading System
Goldman School of Public Policy Working Paper No. GSPP11-002
57 Pages Posted: 14 Mar 2011
Date Written: February 23, 2011
This paper traces the evolution of the global trading system from the 19th century to the present-day GATT/WTO arrangements, calling attention to the key roles of reciprocity and non-discrimination and taking note of how the system is now challenged by the new paradigm of global market integration. The main features of the WTO are described, the boundaries of the WTO identified, and how the expansion of these boundaries may result in the over-extension and weakening of the effectiveness of the WTO.
Keywords: GATT/WTO, reciprocity, non-discrimination, global market integration
JEL Classification: F02, F10, F13
Suggested Citation: Suggested Citation