The Global Trading System

In recent years trade has been transformed: significant growth and the increased interdependence of countries has made it more global. But this very increase in world trade has brought problems, with disputes over markets, tariffs and profit. Attempts to address these problems led to the foundation of GATT, the General Agreement on Tariffs and Trade. Despite successive rounds of GATT, even 50 years, on it has not been the hoped-for success. Disputes over dumping, problems over subsidies, accusations that it is a rich man's club continue. The editors debate whether an international trade organization might be possible and they bring together some 100 key articles tracing the major developments and evaluating the key issues relating to this major global concern. A critical introduction is provided.