Social Sciences
4 years ago

Power politics shape global trade rules, leaving system outdated and ineffective.

Introductory Chapters
Political Analysis of the Trade Regime, from The Evolution of the Trade Regime: Politics, Law, and Economics of the GATT and the WTO
John H. Barton, Judith L. Goldstein, Timothy E. Josling, Richard H. Steinberg

Paper Summary

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The book "The Evolution of the Trade Regime" explores the history of global trade institutions like the GATT and WTO. It looks at how rules and practices have changed over time and how they affect open markets. The authors found that power politics played a big role in shaping these institutions. However, in recent years, the trade regime hasn't kept up with new ideas and interests, making it harder to deal with challenges like expanding membership and trade agreements.