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The next GATT round: Bilateralism versus multilateralism?

Gernot Klepper

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Abstract

A breakthrough towards the liberalization of trade in a world economy distorted by a multitude of trade barriers can only be achieved by bllateral or plurilateral negotiations, it is argued by some. The spread of bilateralism will lead to a fragmentation of world trade and the further distortion of the world economy, counter their opponents. Our author reviews some theoretical arguments in the light of historical situations similar to the present.

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A breakthrough towards the liberalization of trade in a world economy distorted by a multitude of trade barriers can only be achieved by bllateral or plurilateral negotiations, it is argued by some. The spread of bilateralism will lead to a fragmentation of world trade and the further distortion of the world economy, counter their opponents. Our author reviews some theoretical arguments in the light of historical situations similar to the present.

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Available abstract

A breakthrough towards the liberalization of trade in a world economy distorted by a multitude of trade barriers can only be achieved by bllateral or plurilateral negotiations, it is argued by some. The spread of bilateralism will lead to a fragmentation of world trade and the further distortion of the world economy, counter their opponents. Our author reviews some theoretical arguments in the light of historical situations similar to the present.

Key concepts: Bilateralism, Multilateralism, International trade, World trade, Negotiation, International economics, Economics, Fragmentation (computing)

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