Are FTAs termites in the trading system?

This book is essential reading not only for economists and trade diplomats, but for anyone concerned with the design of the institutions that are central to our prosperity. Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of the day, shines here a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTAs endangers the world trading system. After some time, Indian shirt makers would shut shop. If you are not yet a member, please click here to join. Bhagwati also documents how PTAs have undermined the prospects for multilateral freeing of trade, serving as stumbling blocks, instead of building blocks, for the objective of reaching multilateral free trade. There is no better example of folly wrought by good intentions.

Termites in the Trading System: How Preferential Agreements Undermine Free Trade (Council of Foreign Relations) [Jagdish Bhagwati] on haxspace.cf *FREE* shipping on qualifying offers. Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of 3/5(3).

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Termites in the Trading System How Preferential Agreements Undermine Free Trade Jagdish Bhagwati. Preferential Trade Agreements, many taking the form of Free Trade Agreements, now number over and are rapidly increasing. In his new book, Termites in the Trading System: How Preferential Agreements Undermine Free Trade, CFR Senior Fellow for International Economics Jagdish Bhagwati argues that so-called free trade agreements (FTAs), which he maintains are in fact preferential trade agreements (PTAs) involving two or more countries, actually set back the cause of free trade and undermine the multilateral trading system. Extra resources for Termites in the Trading System: How Preferential Agreements Undermine Free Trade. Example text. Thus, when they started reading ‘‘free trade agreements,’’ they stopped after the first two words. Unfortunately, it turned out that there were some politicians in the audience. 2.