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Termites in the Trading System
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Termites in the Trading System: How Preferential Agreements Undermine Free Trade

Jagdish Bhagwati

Abstract

This book shines a critical light on preferential trade agreements (PTAs), revealing how the rapid spread of PTAs endangers the world trading system. Numbering by now well over 300, and rapidly increasing, these preferential trade agreements, many taking the form of free trade agreements, have re-created the unhappy situation of the 1930s, when world trade was undermined by discriminatory practices. Whereas this was the result of protectionism in those days, ironically it is a result of misdirected pursuit of free trade via PTAs today. The world trading system is at risk again, the author argu ... More

Keywords: preferential trade agreements, world trading system, world trade, free trade, termites, free trade agreements

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780195331653
Published to Oxford Scholarship Online: October 2011 DOI:10.1093/acprof:oso/9780195331653.001.0001

Authors

Affiliations are at time of print publication.

Jagdish Bhagwati, author
Columbia University