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Traders in a Brave New World

The Uruguay Round and the Future of the International Trading System

The recently concluded Uruguay Round of the General Agreement on Tariffs and Trade (GATT) will undoubtedly lead to a fundamental transformation of the world trading system as an instrument of a global economy. In Traders in a Brave New World, Ernest H. Preeg, a distinguished former U.S. diplomat and trade negotiator, presents a blow-by-blow account of the Uruguay Round, an examination of the historical context in which it took place, and an insider’s assessment of the agreement’s future impact on the international trading system.

Preeg places the Uruguay Round in the broader context of global politics and economics, showing how changes in the world order—from the collapse of communism to dramatic economic reforms in developing countries—influenced both the topics of negotiations and their outcome. He then assesses the final GATT agreement as a case study in international negotiations and evaluates its probable effects on income and trade.

Finally, Preeg looks to the short- and long-term issues confronting future trade-policy negotiators. He shows that the international trade agenda will consist of three evolving types of agreement—further multilateral commitments, regional free-trade agreements, and selective bilateral accords. Going to the heart of current debates on the "new world order," an important final chapter evaluates the political and economic relationships that will result from the international trading system.

304 pages | 7 tables | 6 x 9 | © 1995

Economics and Business: Economics--History, Economics--International and Comparative

History: General History

Table of Contents

Prologue: Rendezvous at Punta
1: The Decade That Transformed World Trade
2: The Wobbly Bicycle, 1979-1982
3: Establishing the Agenda, 1983-1986
4: Specifying the Objectives, 1987-1988
5: The Road to Brussels, 1989-1990
6: Farm Subsidy Showdown, 1991-1992
7: Diplomatic and Political Endgames, 1993-1994
8: The Final Agreement: An Assessment
9: A Trade Agenda for the 1990s
10: The Brave New World Economic Order
App. A. Chronology of Events
App. B. Punta del Este Ministerial Declaration, Adopted September 20, 1986
App. C. Final Uruguay Round Agreement, Table of Contents
App. D. Marrakesh Ministerial Decision on Trade and Environment, April 14,

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