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1 The evolution of international trade theory and policy1

An intellectual history of international trade theory and policy1

An institutional history of international trade policy17

2 The basic elements of the GATT/WTO， the North American Free Trade Agreement， and the European Union25

The General Agreement on Tarffs and Trade （GAT T）25

The Canada-US Free Trade Agreement and the North American Free Trade Agreement （NAFTA）38

The framework of economic integration in the European Union44

Harmonization47

3 Dispute settlement51

Introduction51

The WTO Dispute Settlement Understanding （DSU）58

Dispute settlement in the NAFTA80

Conclusion94

4 Trade， exchange rates， and the balance of payments95

Introduction95

Liquidity， adjustment and substitutability99

Volatility104

Macroeconomic policy coordination and proposals for managed exchange rates106

The European Monetary System （EMS）108

Conclusion111

5 Tariffs， the MFN principle， and regional trading blocs112

The economic effects of a tariff112

The Most Favoured Nation principle114

Alternative bargaining structures116

Outstanding tariff issues119

Domestic administration of tariffs124

Multilateralism versus regionalism129

6 Trade policy and domestic health and safety regulation and standards135

Introduction135

Legislative history138

Standards setting bodies150

Selected case-law152

Future policy directions160

Conclusions163

7 Antidumping laws166

Introduction166

The GATTprovisions on antidumping167

Antidumping laws： Canada， the United States and the EU172

Theoretical rationales for antidumping laws177

Reforming antidumping laws188

8 Subsidies， countervailing duties， and government procurement190

Introduction190

GATT provisions on subsidies191

Domestic administration of countervailing duty laws205

Rationales for countervailing duty laws213

Reforming subsidy laws217

9 Safeguard regimes and domestic adjustment policies226

The GATT safeguard regime226

Domestic adjustment assistance policies239

Conclusion245

10 Trade in agriculture246

Introduction246

Trade in agriculture and the pre-Uruguay Round GATT247

The Canada-US Free Trade Agreement （FTA） and the North American Free Trade Agreement （NAFTA）251

Rationalesfor differential treatment of the agricultural sector：a critical overview252

Instruments of agricultural protection254

The Uruguay Round Agreement on Agriculture258

Dispute settlement and the Agreement on Agriculture264

Conclusion268

11 Trade in services270

Introduction270

The nature of services271

Barriers to trade in services273

International agreements for the liberalization of trade in services275

Financial services292

Telecommunications299

Conclusion305

12 Trade-related intellectual property （TRIPs）307

Introduction307

Trade theory and intellectual property rights310

The pre-Uruguay Round international legal framework312

Aggressive unilaterialism： US trade remedy law and the EUnew trade policy instrument317

Intellectual property provisions in trade agreements319

Post-Uruguay Round developments330

Conclusion334

13 Trade and investment335

Introduction335

Foreign investment and trade theory337

Economic rationalesforgovernment incentives and disincentives toforeign investment338

Non-economic rationales and effects of investment policies： sovereignty and the foreign firm342

Alternative approaches to international discipline of foreign investment measures347

The Multilateral Agreement on Investment （MAI）357

Conclusion365

14 Trade and developing countries367

Introduction367

The legal and institutionalframeworkfor developing country trade368

Trade and development： theory and policy379

Policy options and prospects for the future386

Conclusion394

15 Trade and the environment395

Introduction395

The GATT397

The North American Free Trade Agreement432

Conclusion440

16 Trade and labour rights441

Introduction441

A conceptual framework for understanding the trade and labour rights debate442

The existing and evolving legal and institutionalframework456

Conclusion462

17 Trade and competition policy464

The basic economic function of competition laws464

International dimensions of competition laws467

Application of framework to specific aspects of competition policy474

Trade policy implications481

18 The international movement of people484

Introduction484

Immigration policy in historical perspective486

The values487

The welfare implications of immigration491

Implicationsfor immigration policy496

Conclusion498

19 Conclusion： the future of the global trading system500

Introduction500

Trade liberalization and the regulatory state： managing the interface500

Strengthening the legal and institutionalfoundations of open markets516

Multilateralism versus regionalism519

Notes523

Index595