101. The World Trading System: In Dire Need of Reform
- Author:
- Sylvia Ostry
- Publication Date:
- 08-2002
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- Over the decade of the 1990s, the deepening integration of the global economy accelerated as trade, financial flows, and foreign direct investment were liberalised. This deepening integration is, in part, a "natural" phenomenon, fed and now led by technological changes in information, communication and transport and is driving in the direction of a single global market. But, of course, governments have played an important role and international economic policy has facilitated - or perhaps even catalysed - the momentum. And the "natural" and "policy" forces are interrelated in a complex fashion that reflects the nature of the policy process . This process differs in different policy domains - for example trade versus financial or development policy. Yet it's important to underline that trade policy has indeed played a major catalytic role in fostering global integration.
- Topic:
- Government, Human Rights, and International Organization
- Political Geography:
- Europe