Published online by Cambridge University Press: 05 August 2019
This chapter first characterizes the fundamental purposes of the WTO and trade agreements, which should be viewed as much broader than trade liberalization. It then presents the major challenges that the trade system now faces. Special emphasis is paid to technological change since the WTO was created in 1995, namely, the development of global value chains. Finally, the author contends that trade agreements, in response, must be designed and conditioned upon social policy commitments. They should include, or be conditioned upon, agreements that cover: coordinated tax policy to combat harmful tax competition, tax avoidance, and tax evasion; domestic social security and job retraining, supported by trade adjustment commitments; labor protection; protections against social dumping; and accommodation of industrial policy experimentation for development. It will not be an easy process to reconceive trade agreements to better ensure social inclusion through these means, but the current system otherwise could unravel.
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.