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Governing GlobalizationIssues and Institutions$
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Deepak Nayyar

Print publication date: 2002

Print ISBN-13: 9780199254033

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199254033.001.0001

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From the GATT to the WTO and Beyond

From the GATT to the WTO and Beyond

(p.254) 10 From the GATT to the WTO and Beyond
Governing Globalization

S. P. Shukla

Oxford University Press

This chapter analyses the evolution of the international trading system from its inception as the General Agreement on Tariffs and Trade (GATT) in 1947 to its latest incarnation as the World Trade Organisation (WTO). It focuses on the adequacy or inadequacy of the system as it has evolved and functioned in an environment of changing international economic and political reality. It also attempts to grapple with the more difficult question of looking at the future prospects of the system, the strains it will need to face and subsequent changes that are called for in its approach, content, and functioning, taking into account the future governance needs of the world economy and polity. The chapter analyses the crisis that gripped the system in the 1980s and the denouement that followed at the conclusion of the Uruguay Round negotiations in 1994.

Keywords:   international trading system, General Agreement on Tariffs and Trade, World Trade Organisation, governance, world economy, polity, Uruguay Round

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