The Multilateral Trading System

descriptionPublicationkeyboard_double_arrow_right Article , Part of book or chapter of book , Other literature type 01 Jan 2011 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Robert M. Stern;

doi: 10.2139/ssrn.1783908 , 10.1093/acprof:oso/9780199680405.003.0002

The Multilateral Trading System

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Abstract

This paper traces the evolution of the global trading system from the 19th century to the present-day GATT/WTO arrangements, calling attention to the key roles of reciprocity and non-discrimination and taking note of how the system is now challenged by the new paradigm of global market integration. The main features of the WTO are described, the boundaries of the WTO identified, and how the expansion of these boundaries may result in the over-extension and weakening of the effectiveness of the WTO.

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