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Free Trade under FireFifth Edition$
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Douglas A. Irwin

Print publication date: 2020

Print ISBN-13: 9780691201009

Published to Princeton Scholarship Online: January 2021

DOI: 10.23943/princeton/9780691201009.001.0001

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PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 24 September 2021

The World Trading System

The World Trading System

The WTO, Trade Disputes, and Regional Agreements

Chapter:
(p.257) 7 The World Trading System
Source:
Free Trade under Fire
Author(s):

Douglas A. Irwin

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691201009.003.0008

This chapter focuses on the current controversies about the multilateral trading system, particularly the World Trade Organization (WTO). It provides an overview of how the WTO was criticized by nongovernmental organizations (NGOs), which attacked the WTO as an antidemocratic institution that has struck down environmental regulations by ruling them inconsistent with world trade laws. The chapter examines the WTO's rules and dispute settlement system and U.S.–China trade war. It analyzes the rise of regional trade arrangements, such as the North American Free Trade Agreement (NAFTA) and the Trans-Pacific Partnership (TPP) agreement. It also points out the importance of unilateral trade policy changes that are rooted in domestic reforms.

Keywords:   multilateral trading system, World Trade Organization, WTO, antidemocratic institution, environmental regulations, U.S.–China trade war, unilateral trade policy

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