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The International Trading System and Its Future

Author

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  • Rachel McCulloch

    (Department of Economics, Brandeis University)

Abstract

This chapter describes the evolution and structure of the international trading system, focusing on the tension between the fundamental GATT/WTO principle of most-favored-nation (MFN) treatment and the proliferation of discriminatory trading arrangements, including regional agreements as well as new versions of special and differential treatment of low-income countries. It also discusses the increasing pressure to use the enforcement power of the GATT/WTO system to achieve member compliance with social norms in the areas of labor and environment. The chapter concludes by considering some significant challenges that currently face the international trading system and possible directions of the system’s evolution in response to these challenges.

Suggested Citation

  • Rachel McCulloch, 2010. "The International Trading System and Its Future," Working Papers 08, Brandeis University, Department of Economics and International Business School.
    • Handle: RePEc:brd:wpaper:08
    as

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    File URL: http://www.brandeis.edu/economics/RePEc/brd/doc/Brandeis_WP08.pdf
    File Function: First version, 2010
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    References listed on IDEAS

    as
    1. Chad Bown & Rachel McCulloch, 2010. "Developing countries, dispute settlement, and the Advisory Centre on WTO Law," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 19(1), pages 33-63.
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