Multilateral Trade Agreements Threatened as Regional Blocs Gain Dominance
Regional trading agreements are becoming more popular, focusing on non-tariff measures and non-trade issues. This makes it easier for groups of countries to work together on specific goals, rather than global ones. While these agreements haven't caused much trade discrimination, they are harming the overall system. Mega-regionals formed after 2008 are trying to control trade policies outside of global discussions, which could be a problem for other countries.