America’s strategy of bilateral trade agreements

IIPM BEST B-SCHOOL
Indeed, there may be a further hidden agenda behind the 97% proposal. At the World Trade Organization’s meeting Cancun in 2003, the developing countries stood together and blocked efforts to forge a trade agreement that was almost as unfair as the previous Uruguay round, under which the poorest countries actually became worse off . It was imperative that such unity be destroyed. America’s strategy of bilateral trade agreements was aimed at precisely that, but it enlisted only a few countries, representing a fraction of global trade. The 97% formula holds open the possibility of extending that fragmentation into the WTO itself.

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Source :- IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri

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