Multilateralism Is Better for Business
International Trade Forum › Num. 1/2006, Janvier 2006
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Résumé
The aftermath of the World Trade Organization's Ministerial meeting in Hong Kong, China is a good time to remind everyone of why multilateral trade agreements serve the interests of today's global production system in a way that the alternative -- a fragmented system of bilateral agreements -- does not. Products are no longer made in one factory and under one roof. Increasingly, production is dispersed across different factories in different countries -- it is becoming globalized. Dispersed manufacturing is the way of the future and the multilateral system is vital for its efficiency because firms have only to understand one set of defined rules, universally applied. With dispersed manufacturing, developed countries can focus on what they do best: design, branding, understanding consumers' needs and other specialized knowledge-based activities. But it is developing countries that stand to gain the most as their small and medium-sized companies gradually integrate into the international supply chain.
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Multilateralism Is Better for Business
The of the World Trade Organization's Ministrial meeting in Hong Kong, China is a good time to remind ourselves of why multilateral trade agreements serve the interests of today's global production system in a way the alternative - a fragmented system of bilateral agreements - does not.
Over the past six years, we have seen...Voir le contenu complet de ce document
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