ABSTRACT

In this concluding chapter, we discuss several of the most pressing challenges facing the world trading system. In our judgment, these challenges create a formidable, but not unmanageable, post-Uruguay Round agenda for students and practitioners of the law and policy of international trade. The three major challenges are: (1) managing the interface between trade liberalization and the domestic regulatory state; (2) strengthening the legal and institutional foundations of open markets in developing countries; and (3) addressing the dangers that regionalism poses to the coherence and sustainability of the global trading order.