The international trade order : performance and challenges
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Hanns W. MAULL (ed.), The rise and decline of the post-cold war international order, Oxford : Oxford University Press, 2018, pp. 25-43
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HOEKMAN, Bernard M., The international trade order : performance and challenges, in Hanns W. MAULL (ed.), The rise and decline of the post-cold war international order, Oxford : Oxford University Press, 2018, pp. 25-43 - https://hdl.handle.net/1814/60573
Abstract
The World Trade Organization constitutes the core of the international trade order. It provides a framework for nations to address the negative spillover effects of trade policies and for subsets of countries to engage in deeper integration of markets through preferential trade agreements. Chapter 1 examines how the trade order has been successful in supporting economic growth of developing countries and accommodating the reintegration of China into the world economy. It now confronts the challenge of managing the consequences of success, including disagreements between major trading powers, especially China and the USA, regarding the balance of rights and obligations and the effects of “behind-the-border” economic policies.