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International Trade: Free, Fair and Open? by Ralph Lattimore, Patrick Love

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5. Trade Rounds and the World Trade Organization

International trade usually hits the headlines only when a major disagreement degenerates into a “trade war”. Most of the time, trade is carried out peacefully under a set of rules overseen by the World Trade Organization. “Multilateralism” is the basis of the WTO system – that is, the more partners there are to an agreement, the better. But getting 150 or more countries to agree is a long process, carried out over a number of years in the various rounds of trade talks.

By way of introduction …

Governments are still trying to reach agreement on the Doha Round of trade talks that were interrupted in summer 2008. You may remember images of what looked like a gigantic examination hall, as ...

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