Multilateralism and Regionalism in the Post-Uruguay Round Era: What Role for the EU?

The Post-Uruguay Round era has seen a proliferation of regional preferential trade agreements (PTAs) as well as progressive multilateral trade liberalization initiatives. This has stimulated theoretical discussion on whether the policy of pursuing PTAs will have a malign or a benign impact on multilateralism. In the former case, proliferation of PT As may increase protection in global trade due to trade diversion effects, thereby creating impediments to multilateral freeing of global trade....