4/7/2024 0 Comments Trade blocsRegionalism is a force that has largely eluded regulation from the multilateral international organizations while at the same time taking on ever greater authority in driving economic integration. This undermines the efficiency of the WTO, but can also open up new opportunities. The mounting protectionism and the exacerbation in trade tensions also contribute to the attractiveness of bilateral and regional alliances as an alternative to multilateralism in global organizations. These correspond to 459 notifications from WTO members, counting goods, services and accessions separately. According to the WTO, regional trade agreements (RTAs) have become increasingly prevalent since the early 1990s and as of, 287 RTAs were in force. The leading economies increasingly often opt for establishing regional trade blocs that pursue the policy of exclusive trade liberalization for a select group of their members, which reduces the interest of the countries in multilateral liberalization. The WTO crisis in the past few decades has been associated with the active advance of regionalism.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |