...It is a myth that the GATT/WTO system is only about free trade.
Plenty of exemptions to free trade principles are permitted. The
anti-dumping agreement is one such exemption. The GATT/WTO system
does not prohibit dumping, defined as exporting a product at lower
than its 'normal' value...and thus goes the Introduction (by Bibek
Debroy) to this important volume on the subject. ""...Where do we
go from where?...the Doha Development Agenda (DDA) contemplates
nothing beyond clarifying and improving disciplines. There is
consensus across all five papers that this is hardly enough. More
substantial change is needed in the anti-dumping agreement. There
is perhaps consensus across all five papers that the anti-dumping
agreement needs to be dumped, although there is lack of precision
about what should be done about Article VI in that eventuality.
Given the political economy within the WTO, this first-best
solution is unlikely to materialise. But as a second-best, there is
enough ammunition in these five papers for the argument that one
needs much more than mere clarification and improvement.
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