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The Multilateral Trading System: Special and Differential Treatment for Developing Countries in the WTO

  • Carlos Perez del Castillo
Part of the Studies in Banking and Financial Institutions book series (SBFI)

Abstract

The economic argument for an open trading system is based on multilaterally agreed rules that rest largely on commercial common sense. Statistical data clearly shows a link between free trade and economic growth. The principle of “comparative advantage” has proven countries prosper by first taking advantage of their assets, in order to concentrate on what they can produce best, and then by trading these products for different products that other countries produce best.

Keywords

World Trade Organization Trading System Uruguay Round Development Partner National Development Plan 
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Notes

  1. 13.
    J. Stiglitz, The Way Ahead, Essential Reading in World Politics, 2nd edition, 2004, New York, p. 454.Google Scholar

Copyright information

© Carlos Perez del Castillo 2009

Authors and Affiliations

  • Carlos Perez del Castillo

There are no affiliations available

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