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This book provides a historical perspective of the Uruguay Round agreement and focuses on the interaction between developed and developing countries on matters relating to the global trading system and its disciplines since the founding of the General Agreement on Tariffs and Trade.

Format: Paperback / softback
Length: 150 pages
Publication date: 29 July 2022
Publisher: Taylor & Francis Ltd

This comprehensive book delves into the historical backdrop of the Uruguay Round agreement, providing a comprehensive analysis of the intricate interplay between developed and developing countries in the realm of global trade and its accompanying disciplines since the establishment of the General Agreement on Tariffs and Trade (GATT). It offers a rich tapestry of insights, shedding light on the complex dynamics, negotiations, and agreements that have shaped the global trading landscape over the years.

The book begins by tracing the origins and evolution of the GATT, highlighting its role as a foundational framework for international trade. It then delves into the specifics of the Uruguay Round, a pivotal negotiation that took place in the late 1980s and early 1990s. During this round, countries from both developed and developing regions came together to address a wide range of issues, including trade liberalization, intellectual property rights, and agricultural subsidies.

One of the key themes of the book is the complex relationship between developed and developing countries in the global trading system. It explores the historical and economic factors that have contributed to the disparities in trade between these two groups, as well as the efforts made to address these imbalances. The book also examines the impact of globalization on the global trading system, including the rise.

The book further explores the role of international institutions, such as the World Trade Organization (WTO) and the International Monetary Fund (IMF), in shaping the global trading landscape. It examines their policies, regulations, and interventions, and assesses their effectiveness in promoting fair and equitable trade.

In conclusion, this book provides a valuable and insightful perspective on the historical development of the global trading system and its impact on countries around the world. It is a must-read for policymakers, economists, and anyone interested in understanding the complex dynamics of international trade and the challenges and opportunities that it presents.

The origins and evolution of the GATT

The General Agreement on Tariffs and Trade (GATT) emerged as a pivotal framework for international trade in the aftermath of World War II. Its establishment marked a significant milestone in the global pursuit of economic cooperation and stability. The GATT was born out of the need to establish a rules-based system for trade among nations, which would promote fair competition, reduce tariffs and trade barriers, and facilitate the flow of goods and services across borders.

Over the years, the GATT underwent several rounds of negotiations, each aimed at expanding its scope and addressing emerging challenges in the global trading landscape. The first round of negotiations, known as the GATT 1947, established the framework for the GATT and laid the foundation for future agreements. Subsequent rounds, such as the GATT 1948 and GATT 1951, expanded the coverage of the GATT to include services and intellectual property rights.

However, the GATT faced several challenges during its early years. One of the most significant was the issue of non-tariff barriers to trade, such as import quotas, export subsidies, and domestic regulations. These barriers hindered the free flow of goods and services and created distortions in the global trading system. As a result, the GATT began to focus on addressing these non-tariff barriers through the negotiation of agreements and the establishment of rules and regulations to govern trade.

Another challenge facing the GATT was the issue of developing countries' participation in the global trading system. Many developing countries felt that they were being left behind by the developed countries, as they were subjected to high tariffs and trade barriers that made it difficult for them to compete in the global market. As a result, the GATT began to prioritize the inclusion of developing countries in its negotiations and sought to provide them with special and differential treatment (S&DT) to help them integrate into the global trading system.

The Uruguay Round, which took place.
The Uruguay Round, which took place.

The Uruguay Round, which took place in the late 1980s and early 1990s, was a pivotal negotiation in the history of the GATT. It was a comprehensive negotiation that aimed to address a wide range of issues related to global trade, including trade liberalization, intellectual property rights, and agricultural subsidies. The round was a significant step forward in the global pursuit of trade liberalization, as it aimed to reduce tariffs and trade barriers, promote fair competition, and facilitate the flow of goods and services across borders.

One of the key achievements of the Uruguay Round was the establishment of the World Trade Organization (WTO). The WTO is an international organization that oversees the rules-based system of global trade among nations. It replaced the GATT as the primary forum for negotiations on trade-related issues and has since played a critical role in shaping the global trading landscape.

The Uruguay Round also saw the expansion of the coverage of the GATT to include services and intellectual property rights. This expansion was a significant milestone in the global pursuit of trade liberalization, as it recognized the importance of services in the global economy and the need to protect intellectual property rights to promote innovation and creativity.

However, the Uruguay Round was not without its challenges. One of the most significant challenges was the issue of agricultural subsidies. Many developed countries, particularly in Europe, were heavily subsidizing their agricultural industries, which made it difficult for developing countries to compete in the global market. As a result, the round aimed to reduce and eliminate these subsidies, which were seen as distorting trade and undermining the competitiveness of developing countries.

Another challenge facing the Uruguay Round was the issue of intellectual property rights. Many developing countries felt that they were being exploited by developed countries, as they were being charged high prices for patented medicines and other products. As a result, the round aimed to establish a framework for the protection of intellectual property rights while also promoting access to affordable medicines for developing countries.

In conclusion, the Uruguay Round was a significant milestone in the history of the GATT. It marked a significant step forward in the global pursuit of trade liberalization, as it aimed to reduce tariffs and trade barriers, promote fair competition, and facilitate the flow of goods and services across borders. The round also saw the establishment of the World Trade Organization (WTO) and the expansion of the coverage of the GATT to include services and intellectual property rights. However, the round was not without its challenges, particularly in the areas of agricultural subsidies and intellectual property rights.

Weight: 280g
ISBN-13: 9780367159764