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International Economics Commons

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International Trade Law

GATT

2011

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Full-Text Articles in International Economics

Is The Wto Quietly Fading Away?: The New Regionalism And Global Trade Rules, Stephen J. Powell, Trisha Low Jul 2011

Is The Wto Quietly Fading Away?: The New Regionalism And Global Trade Rules, Stephen J. Powell, Trisha Low

UF Law Faculty Publications

While scholars and governments alike view the liberalization of international trade as a positive development, they disagree on the medium that will accomplish this objective with the highest economic returns. Some experts believe that multilateralism through the 150+ member World Trade Organization (WTO) is the only way to achieve truly open and efficient trade. Others view multilateralism as but an aspiration and find that regionalism offers the only viable prospect for the meaningful further opening of markets.

In light of what we label the "new regionalism," our paper explores in detail the positive and negative effects of regional trade arrangements ...