Abstract
The postwar liberal world order has been founded on the ideals of multilateral free trade. Despite a near universal consensus on the benefits of free trade among economists, we rarely see national governments opening their markets unilaterally. Reciprocal trade liberalization, not unilateral ones, has been the norm in trade policy, that is, countries open their markets only when trading partners open theirs. The postwar multilateral trading system has extended the political logic of trade liberalization to the global level, reducing trade barriers through a series of multilateral trade agreements.
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Notes
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© 2013 G. John Ikenberry and Jongryn Mo
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Ikenberry, G.J., Mo, J. (2013). Korea’s FTA Networks and Its Global Leadership. In: The Rise of Korean Leadership. Asia Today. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137351128_3
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DOI: https://doi.org/10.1057/9781137351128_3
Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-1-349-46868-3
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