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| Author: | Emmerij, L. |
| Title: | Globalization, regionalizaion and world trade |
| Journal: | Columbia Journal of World Business
1992 : SUMMER, VOL. 27, p. 6-13 |
| Index terms: | TRADE GATT URUGUAY |
| Language: | eng |
| Abstract: | The world is moving towards a global economy but countervailing forces attempt to divide it. These divisive forces are regional trading blocs. The author of this article ties the current trend toward regionalization to the narrow focus of the General Agreement on Tariffs and Trade which covers less than 10% of all international trade issues. Unless the GATT Uruguay Round can resolve the thorny issues that are breeding protectionism in Japan, the European Community and North America, a true global economy may never exist. The GATT must be made more comprehensive in its coverage and an initiative to revive the idea of an updated International Trade Organization must be welcome. |
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