The International Trading System

Bhagwati, Jagdish N.

This article provides a brief overview of the achievements of UNCTAD over the last 25 years. It then examines in some detail the evolution of the world trading system, the role of multinational corporations within that system, and the trade related issues facing developing countries and the (former) centrally planned economies. The case for a multilateral trading system within an evolving GATT framework, rather than emergent new trading blocs with unilaterally and regionally based trading arrangements, is strongly advocated.



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January 28, 2013