Evolution of International Trade Agreements

Trade and regulation have been a theme and counteropint through much of recorded history, each advancing at times when the other receded. In the past, regulation was imposed by self-aggrandizing territorial units that sought to use trade for their own purposes. Today trade agreements between nations are a permanent factor in international commerce, and as a result the nature of regulation is changing. In this series of essays Gilbert R. Winham explores the nature of international trade and regulation as it is evolving today. He begins with a historical perspective, and then considers the various stresses to which the system of international trade is subject. He discusses the nature and function of the GATT and assesses its effectiveness. Next he turns his attention to the latest round of talks, which broke down abruptly in Brussels at the end of 1990, and concludes with a look forward to the future of the GATT specifically and international trade in general. Today as economic boundaries are merging, dividing, and reforming, international trade plays a critical role in global stability. Winham offers an insightful analysis of how the current situation has developed and where it might lead.