The Multilateral Trading System: Special and Differential Treatment for Developing Countries in the WTO

Carlos Perez Castillo

Chapter 11 in Globalization and the Reform of the International Banking and Monetary System, 2009, pp 237-246 from Palgrave Macmillan

Abstract: Abstract The economic argument for an open trading system is based on multilaterally agreed rules that rest largely on commercial common sense. Statistical data clearly shows a link between free trade and economic growth. The principle of “comparative advantage” has proven countries prosper by first taking advantage of their assets, in order to concentrate on what they can produce best, and then by trading these products for different products that other countries produce best.

Keywords: World Trade Organization; Trading System; Uruguay Round; Development Partner; National Development Plan (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-25106-9_11

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DOI: 10.1057/9780230251069_11

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