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Asymmetries in the Emerging Multilateral Trading System under the WTO - An Analysis: Developing countries in the Multilateral Trading System (Paperback)
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Asymmetries in the Emerging Multilateral Trading System under the WTO - An Analysis: Developing countries in the Multilateral Trading System (Paperback)
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Research Paper from the year 2011 in the subject Economics -
International Economic Relations, grade: -, Aligarh Muslim
University (Department of Economics), language: English, abstract:
The fundamental principles of the multilateral trading system is to
help trade flow as freely as possible, on the one hand, and deal
with disputes over trade issues on the other. The expansion of
trade has played a dynamic role in the growth of the global economy
since World War II. Trade is important for the development of all
types of economies. But its sustained growth calls for a free and
fair Multilateral trading system. A trading system that is rule
based helps in the expansion of trade. Similarly, a trading system
that lowers trade barriers through negotiations and applies the
principle of non-discrimination promotes trade from developing
countries. Further, the trading system that allows disputes to be
settled effectively and constructively has the added advantage for
the developing countries. The world trading system under the WTO
promises all but its working over the past years since its
establishment has revealed that the pace and pattern of
implementation by different member countries have not been uniform.
More powerful players in the trade space have evolved many new
instruments of safeguarding their national interest while the
weaker players have been forced to implement their commitments.
This has generated asymmetries in the pattern of effective market
access in the different countries of the world economy. In the
light of the above, our objective in this study is primarily to
examine the role of Multilateral trading system under the WTO in
promoting international trade of developing countries in general
and that of India in particular. The purpose of this paper is (a)
to discuss the importance of trade and trading system for
developing countries in general and India in particular (b) to
discuss the asymmetries exist under the WTO which effect the
development proce
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