The World Trade Organization was established in the 1990s,
superseding the GATT and providing a stronger institutional
foundation for international trading arrangement among countries.
As an international organization it faces a number of challenges,
including achieving agreement over trade in services, bringing in
new members from the economies in transition and developing
countries, making the strengthened dispute settlement mechanism
effective, and bringing about an increasingly open multilateral
trading system. This volume analyzes the challenges and
opportunities confronting the WTO. Several chapters address the
WTO's institutional capacity directly, through such issues as the
way national policies may influence or constrain the WTO, the
difficulties of achieving coherence with the World Bank and the
IMF, and the resources available to the WTO's secretariat in
relation to the tasks it faces. Other papers in this volume
consider more contemporary policy issues facing the WTO, including
how to bring services trade into an open multilateral framework,
how dispute settlement mechanisms can be improved, and how other
concerns, such as labour standards and environmental issues may be
addressed. Two papers focus on the WTO's relationship to developing
countries and countries in transition, and an introductory chapter
provides an overview of the WTO's operation. The text presumes no
technical background in economics.
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