Spaghetti Bowl Phenomenon and Crucification of Multilateralism: Task Ahead for WTO

9 Pages Posted: 14 Dec 2006

See all articles by Dr. Sanjay Pandey

Dr. Sanjay Pandey

Government of India; Competition Commission of India ; Amity Law School; National Law University, Jodhpur

Date Written: December 10, 2006

Abstract

As a staunch supporter of free trade Prof. Jagdish Bhagwati believes in the ethos and goals of the World Trade Organization. According to him, restrictions on trade and capital flows result in creation of 'dead weight losses'. He is also against the global movement towards the creation of regional trading agreements. He uses the term 'Spaghetti Bowl' to elaborate his critique of the proliferation of regional trading agreements. Regional trading arrangements were conceived as an exception to the MFN notion to cater to the specific needs of developing as well as developed countries. But a major drawback of this free trade regime has been identified, which tends to proliferation of regionalism at the cost of dilution of multilateralism. Now the challenge before the World Trade Organization (WTO) is to develop mechanics to balance the growth of RTAs/PTAs/FTAs and multilateralism in international trade relations.

Keywords: Rules of Origin, WTO, Spaghetti Bowl, Free Trade, Globalization, RTA, PTA

Suggested Citation

Pandey, Sanjay Kumar, Spaghetti Bowl Phenomenon and Crucification of Multilateralism: Task Ahead for WTO (December 10, 2006). Available at SSRN: https://ssrn.com/abstract=951392 or http://dx.doi.org/10.2139/ssrn.951392

Sanjay Kumar Pandey (Contact Author)

Government of India ( email )

India

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Competition Commission of India ( email )

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National Law University, Jodhpur ( email )

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