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Author:Lamy, P.
Title:Stepping Stones or Stumbling Blocks? The EU's Approach Towards the Problem of Multilateralism vs Regionalism in Trade Policy
Journal:World Economy
2002 : NOV, VOL. 25:10, p. 1399-1414
Index terms:EUROPEAN UNION
TRADE POLICY
ECONOMICS
ANALYTICAL REVIEW
Language:eng
Abstract:It may be logical, but rare indeed is the international system which not only accepts apparently diverging approaches to fundamental issues, but is designed specifically to accommodate them. But such is the approach of the international trade system, as governed by the rules of the World Trade Organisation (WTO), to the great debate about multilateralism vs regionalism in trade policy. This short paper will argue: that multilateralism and regionalism are not mutually exclusive, but are complementary instruments to manage the complexities of an interdependent world; that traditional Free Trade Areas are unlikely to be of great benefit, and that regionalism, if it is to support multilateralism effectively, needs to be deployed in the right way.
SCIMA record nr: 245768
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