The World Trading System at Risk

 
9780745010267: The World Trading System at Risk

In this sequel to his successful "Protectionism", Professor Bhagwati provides an analysis and overview of the perils and promise facing the post-war trading system. Embodied in the General Agreement on Tariffs and Trade (GATT), this system is currently in turbulence, buffeted by powerful centrifugal forces. Concerns with unfair trade are rampant; managed trade appeals to many; the USA, the bulwark of multilateralism, is resorting to aggressive unilateralism; regionalism is spreading. These phenomena, and the complex of ideas and structural changes in the world economy that drives them, are identified and assessed by Professor Bhagwari. He concludes with a synoptic view of the Uruguay Round of multilateral trade negotiations, demonstrating the oportunities to build the GATT, and hence the worked trading system anew.

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From the Inside Flap:


"Jagdish Bhagwati has written a thoughtful, scholarly, and authoritative analysis of the current status and future potential of GATT. Attention to his warnings and the adoption of his specific suggestions would go far to check the current movement to mindless protectionism and to assure the success of the Uruguay Round in fostering freer international trade."--Milton Friedman, Hoover Institution


"Jagdish Bhagwati, from the free-trade corner of the ring, takes on the challengers, who advocate "managed trade.' All who follow international finance and trade policy will want to read this free-for-all, no-holds-barred debate. Good fun but deadly serious at the same time."--Paul A. Samuelson, MIT


"Thank goodness that Jagdish Bhagwati, a leading authority on the economics of international trade, is raising his voice against the arrogant, misguided, and self-destructive trends in U.S. trade policy."--James Tobin, Yale University


About the Author:

Jagdish Bhagwati is University Professor at Columbia University and External Advisor to the Director General, World Trade Organization and Senior Fellow for International Economics with the Council on Foreign Relations. He was named Distinguished Fellow of the American Economic Association in 2003.

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