Regional Trade Blocs, Multilateralism, and the GATT : Complementary Paths to Free Trade?

Regional Trade Blocs, Multilateralism, and the GATT : Complementary Paths to Free Trade?

by Dennis Kennedy
     
 

A distinctive feature of the contemporary world economy is the coexistence of regional trade blocs alongside multilateral trade agreements. At first sight, the principle inherent in regional trade blocs of preferential treatment for member states runs counter to the maxim of non-discrimination at the heart of GATT. The current debate can be traced back to the Second… See more details below

Overview

A distinctive feature of the contemporary world economy is the coexistence of regional trade blocs alongside multilateral trade agreements. At first sight, the principle inherent in regional trade blocs of preferential treatment for member states runs counter to the maxim of non-discrimination at the heart of GATT. The current debate can be traced back to the Second World War and the immediate postwar period. At that time American foreign economic policy-makers firmly believed that regional trade blocs, in tandem with international trade liberalisation, would eventually lead to the adoption of a multilateral trade regime throughout the world economy. Regional trade blocs, therefore, would eventually be consigned to economic history. However, the history of the Common Market/European Community attests to the enduring nature of regional trade blocs, as does the creation of NAFTA and ASEAN. The contributions to this broad-ranging volume provide a political economy and policy-analysts' perspective on the potential conflict between regional economic integration and multilateral international trade at the end of the Uruguay Round. It will be of interest to all those concerned with issues of international trade and integration.

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Product Details

ISBN-13:
9781855674073
Publisher:
Continuum International Publishing Group
Publication date:
04/01/1996
Pages:
192
Product dimensions:
6.02(w) x 9.21(h) x (d)

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