The last World Trade Organization summit illustrated the inability of governments to reach complete free trade agreements. The increasing number of cases of conflict presented to the Dispute Settlement Body of the WTO, shows that there is still a lot to do in the field of cooperation, and a number of agreements to make. These conflicts (mainly between developed countries, especially the USA and the European Union, or between developed countries and emergent countries) arise in many different sectors such as agriculture, aircraft subsidies, textile, etc. Each conflict was proof that even if there is an official consensus on the benefits of economic liberalism, most countries don't accept free trade. The decision makers have to take into account many factors and interests that determine their policy and it is interesting to analyze the differences between the way the authorities justify their action through economic theories and how economists understand these policies and determine which economic paradigm backs them up.
APA Style reference
For your bibliographyOnline reading
with our online readerContent validated
by our reading committee