The World Trade Organization (WTO) is one of the most important international organizations in existence today. It contains a set of disciplines that affect the ability of governments to impose trade restrictions, and has helped to support the steady expansion of international trade since the 1950s. The WTO has been the focus of vociferous protests by anti-globalization activists and has experienced great difficulties in agreeing to new trade rules since its establishment. At the same time it has become the premier global forum for the settlement of trade disputes and has proven to provide a robust framework for international cooperation in the trade area. This book separates the facts from the propaganda and provides an accessible overview of the WTO's history, structure and policies as well as a discussion of the future of the organization. It also confronts the criticisms of the WTO and assesses their validity. New to the second edition: discussion of legislative amendments to the WTO Agreement, in particular Aid for Trade, the Agreement on Trade Facilitation and the Bali Package evaluation of case law developments and major disputes since 2007, including analysis of the WTO and the financial crisis - in particular the trade policy responses of WTO Members and institutional response reflection on recent shifts to mega-regional agreements (TPP, TISA, TTIP) and their implications what next post Bali? Fully updated throughout, this book continues to be essential reading for students of international trade, international political economy, commercial law and international organizations as well as activists and others interested in a balanced account of a key global institution.

The World Trade Organization (WTO) is one of the most important international organizations in existence today. It contains a set of disciplines that affect the ability of governments to impose trade restrictions, and has helped to support the steady expansion of international trade since the 1950s. The WTO has been the focus of vociferous protests by anti-globalization activists and has experienced great difficulties in agreeing to new trade rules since its establishment. At the same time it has become the premier global forum for the settlement of trade disputes and has proven to provide a robust framework for international cooperation in the trade area. This book separates the facts from the propaganda and provides an accessible overview of the WTO's history, structure and policies as well as a discussion of the future of the organization. It also confronts the criticisms of the WTO and assesses their validity. New to the second edition: discussion of legislative amendments to the WTO Agreement, in particular Aid for Trade, the Agreement on Trade Facilitation and the Bali Package evaluation of case law developments and major disputes since 2007, including analysis of the WTO and the financial crisis - in particular the trade policy responses of WTO Members and institutional response reflection on recent shifts to mega-regional agreements (TPP, TISA, TTIP) and their implications what next post Bali? Fully updated throughout, this book continues to be essential reading for students of international trade, international political economy, commercial law and international organizations as well as activists and others interested in a balanced account of a key global institution.

The multilateral trade system rests on the principle of nondiscrimination. Unilateral trade preferences granted by developed countries can help beneficiary countries but can create tensions between 'preferred' developing countries--typically beneficiaries from pre-existing colonial regimes--and other developing countries. There is also concern about the potential erosion of these preferences through trade liberalization in the importing countries, an issue that has been important in the current negotiations under the Doha Development Agenda of the World Trade Organization. 'Trade Preference Erosion' provides the information needed to make informed assessments of the benefits of trade preferences for developing countries, the risks associated with the erosion of these benefits, and policy options for dealing with these problems. The authors provide detailed analyses of specific preference programs and undertake cross-country, disaggregated analyses of the impact of preferences at the product level. Understanding the likely impacts of these programs and how those impacts are distributed is a precondition for formulating appropriate policy responses. The authors argue that such responses need to go beyond trade policies and need to include a focus on enhancing the competitiveness and supply-side capacity of developing countries. This book is a useful and informative guide for policy makers, non-governmental organizations, and others who wish to better understand the debate on the magnitude and impact of preference erosion.

The multilateral trade system rests on the principle of nondiscrimination. Unilateral trade preferences granted by developed countries can help beneficiary countries but can create tensions between 'preferred' developing countries typically beneficiaries from pre-existing colonial regimes and other developing countries. There is also concern about the potential erosion of these preferences through trade liberalization in the importing countries, an issue that has been important in the current negotiations under the Doha Development Agenda of the World Trade Organization. 'Trade Preference Erosion' provides the information needed to make informed assessments of the benefits of trade preferences for developing countries, the risks associated with the erosion of these benefits, and policy options for dealing with these problems. The authors provide detailed analyses of specific preference programs and undertake cross-country, disaggregated analyses of the impact of preferences at the product level. Understanding the likely impacts of these programs and how those impacts are distributed is a precondition for formulating appropriate policy responses. The authors argue that such responses need to go beyond trade policies and need to include a focus on enhancing the competitiveness and supply-side capacity of developing countries. This book is a useful and informative guide for policy makers, non-governmental organizations, and others who wish to better understand the debate on the magnitude and impact of preference erosion."

Despite numerous attempts in the second half of the 20th century, Arab states have not been successful in forming a regional economic bloc. Trade among the Arab states continues to be hampered by high tariffs and customs and transportation bottlenecks. Integration efforts are largely limited to attempts at reducing trade barriers in goods and have not extended to the service sector. While labour mobility is somewhat evident, capital mobility within the region remains limited. The ongoing liberalization of trade in goods through the Greater Arab Free Trade Area, scheduled for complete implementation in 2007, brings renewed interest to a longstanding goal. regional integration. The contributors focus on three issues: the failure of past attempts at integration, the impact on countries involved in any future integration and the possible lessons from other regional experiences, particularly the European Union. A common theme is the importance of extending the reach of cooperation efforts beyond trade in goods.

Despite troubled trade negotiations, global trade and trade policy will thrive in the twenty-first century, but with a bow to the past. Is the multilateral trading order of the twentieth century a historical artifact? Was the creation of the World Trade Organization in 1995 the high point of multilateral cooperation on trade? This new volume, edited by Bernard M. Hoekman and Ernesto Zedillo, assesses the relevance of the WTO in the context of the rise of China and the United States' turn toward unilateral protectionism. The contributors adopt a historical perspective to discuss changes in global trade policy trends, adducing lessons from the past to help understand current trade tensions. Topics include responses to U.S. protectionism under the Trump administration, the policy dimensions of trade in services and the rise of the digital economy, how to strengthen the WTO to better negotiate new rules of the game and adjudicate disputes, managing China's integration into the global trade system, and the implications of global value chains for economic development policies. By reflecting on past episodes of protectionism and how they were resolved, Trade in the 21st Century provides both context and guidance on how trade challenges can be addressed in the coming decades.