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The Multilateral Trading System in a Globalizing World

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  • 저자 조이제, 편, 김윤형, 편(金胤亨) , Anne O. Krueger, editor, 김기완(金起完) , Frederic M. Scherer, 신광식, 편(申光湜, 編) , Edward M. Graham, 김승진(金勝鎭) , John Whalley, 한진희(韓震熙) , Christopher Erickson, Daniel J. B. Mitchell, 이주호(李周浩)
  • 발행일 2000/06/01
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요약 During the twenty-first century, the world will face the increasing forces of
globalization. While the political boundaries of the nation-state will remain in place,
economic integration across national boundaries will proceed with a quickening tempo.
Driven by continuing technological innovation in information, telecommunications, and
transportation, as well as policy liberalization, individual national economies are becoming
increasingly interdependent and globally integrated. Goods and services, technology,
capital, labor, information, and even enterprises are now moving more freely than ever
before between countries, and the world economy is becoming ever more interdependent,
While the World Trade Organization(WTO) has played an important facilitating role in
these events, it now faces both challenges and new opportunities in expediting the
process of international economic cooperation in an orderly manner.

The world trade order has been undergoing considerable change. Early GATT (General
Agreement on Tariffs and Trade) rounds focused on market access through relaxing or
abolishing border measures such as tariffs and nontariff barriers. But more recent
discussions have dealt with the establishment and application of international standards
to national economies. The topics include policy issues within the national boundaries
related to competition policy, foreign direct investment, environment, labor standards, and
anticorruption-the so-called "new trade issues." Furthermore, it appears likely that
issues such as regulatory reforms, corporate governance, and technology transfer will
also emerge as new trade issues in the near future. All of these issues-to be debated
and determined in the international framework rather than the domestic context-will no
doubt have an impact on national economies. At the same time, they entail remarkable
changes in the world economic order. It is not surprising that the New Round is
attracting a great deal of attention,

Amid these internal pressures for the expansion of the GATT/WTO mechanism,
opposition has arisen, as symbolized by demonstrations in Seattle against the WTO
Ministerial Conference, in late 1999, and subsequent protests against the World Bank
and IMF meetings in Washington, D. C. These incidents represent the increasing
suspicion and fear of globalization and "the new economy" that have important political
consequences.

The United States, despite being a vocal champion of free trade, showed little
commitment to the WTO in the face of demestic ambivalence, By sticking to its hard
line on labor issues, the United States effectively withdrew support from a potential deal
regarding the shape of negotiations during the New Round. The European Union's(EU)
stance was hardly better, partly due to remaining gaps between the United States and
the EU over agriculture. Similar rifts exist between the United States and Korea/Japan
over antidumping and between the United States and developing countries over labor
standards. Developing countries argued that they did not have the luxury to adopt
labor and environment standards appropriate to developed economies.

Another change associated with globalization is the quickening pace of democratization,
which has ushered in a growing number of nongovernmental organization (NGOs)
representing interest groups and sectors, both domestic as well as across national
boundaries. These interest groups, including consumer-and human-rights activists,
environmentalists, and labor unions, play an increasing role in international politics.
While the World Bank, for example, has had the resources to finance cooperation with
NGOs, the WTO is poorly funded. As Sylvia Ostry remarked during our conference,
WTO is like a Mercedes Benz with an empty tank; it is well made but lacks the fuel
to run on.

Despite the breakdown of the Seattle Ministerial Conference, efforts to launch the New
Round are suspended, not dead. Many WTO member countries expect to restart talks
in Geneva, and the failure to launch the New Round in the near future would be a
major setback to the multilateral trading system's pursuit of freer and fairer trade. The
multilateral trading system has overcome setbacks in the past. For example, the
Uruguay Round Launched in 1986 broke down repeatedly. The United States and the
European Union in particular must make great efforts to prevent the failure of launching
a New Round.

The underlying premise of this volume is that the opponents of free trade are partly
right. Untrammeled free trade, without regard for human rights and the environment, is
not sustainable. On the other hand, international cooperation is not likely to proceed if
harmonization of environmental, labor, and other standards is understood to imply that
the South should conform to the laws and standards of the North. A new consensus
must be found that recognizes both a broader basis for cooperation than economic
materialism and also the diversity of countries. Accordingly, this volume surveys the
history of the global trading system and then analyzes each of the new trade issues in
depth.

The book is divided into six parts: Part Ⅰ, Challenges Facing the Multilateral Trading
System; Part Ⅱ, Competition Policy; Part Ⅲ, Foreign Direct Investment; Part Ⅳ, Trade
and Environment; Part Ⅴ, Trade and Labor Standards; and Part Ⅵ, Major Findings and
Policy Implications. For each part, two papers are presented -one written by a
prominent foreign expert and the other by a Korean scholar. This allows for a dialectic
between primarily Western views and that of an Eastern small and open economy. The
main papers are followed by commentaries by leading experts in the field. The experts
present their views on the significance of the issue, the major points of contention, and
the likely results of trade negotiation on the issue, suggesting how the issue can be
settled. Part Ⅰ identifies what the challenges are and where they come from. Parts Ⅱ
-V explore trade-related frictions in a globalizing world, review the rationale for new
rounds, highlight divergence of views, and shape the concept of mutually agreed
principles for forging the links between trade and new round issues.
저자

Frederic M. Scherer

Edward M. Graham

Christopher Erickson

Daniel J. B. Mitchell

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