By C. Michalopoulos

This quantity examines the most components for constructing state alternate functionality within the final thirty years, their very own exchange guidelines, marketplace entry matters they face, and their an increasing number of powerful participation within the WTO and the Doha around of multilateral exchange negotiations.

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Extra resources for Emerging Powers in the WTO: Developing Countries and Trade in the 21st Century

Example text

In the 1954–55 GATT review session, for the first time provisions were 26 Emerging Powers in the WTO adopted to address the needs of developing countries as a group within GATT. 4 Article XVIII (C) was revised to allow for the imposition of trade restrictions (both tariffs and quantitative restrictions) to support infant industries with a view to improving living standards. A provision granting the right of veto to certain affected Contracting Parties (CPs) was deleted, thus facilitating the imposition of quantitative restrictions (GATT, 1954).

3 These were Brazil, Burma, Ceylon, Chile, China, Cuba, India, Lebanon, Pakistan, Rhodesia and Syria. 2 Trade and Development in GATT and the WTO 25 was a consensus that liberal trade policies would not promote industrialization and development because of the prevailing patterns of international specialization. Developing countries tended to specialize in raw materials and primary commodity exports and were dependent on imports for manufactures, especially the capital goods and intermediate inputs needed for investment and industrialization.

205). Because the preferences permitted by the Enabling Clause were permissive and non-binding, and because of the ‘fuller participation’ clause, developing countries had no legal recourse within GATT against unilateral termination of preferences by developed countries. Finally, following a series of negotiations in UNCTAD, the Common Fund for Commodities was established in 1980 and went into effect in 1989. The Fund comprised two accounts each with different objectives: the first was intended to finance international buffer stocks and internationally coordinated national stocks, and the second was to finance measures for commodity development and promote coordination and consultation on commodity issues.

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