The international trading order at the crossroads
As economic theory shows and experience underlines, international trade and the specialization associated herewith is one important source of economic growth, employment creation and technological innovation in participating countries. In awareness of this potential for increasing economic prosperity throughout the world, the architects of the international trading system, which was to emerge from the ashes of World War II, envisaged a framework of rules leading to, and securing, open markets. The General Agreement on Tariffs and Trade (GATT), which came into being in 1948, laid down such trade rules, basically the principles of non-discrimination and multilateralism in world trade. The aim was not to establish free trade, without any government intervention. What was meant is liberal trade, in which governments may interfere, but using price measures which are transparent and do not rule out competition (i.e. non-prohibitive tariffs rather than quantitative restrictions or subsidies). Adherence by the member countries to the principles of multilateralism and non-discrimination was expected to give rise to the production of an international public good: stability and predictability of trade rules.
The next GATT round: Bilateralism versus multilateralism?
A breakthrough towards the liberalization of trade in a world economy distorted by a multitude of trade barriers can only be achieved by bllateral or plurilateral negotiations, it is argued by some. The spread of bilateralism will lead to a fragmentation of world trade and the further distortion of the world economy, counter their opponents. Our author reviews some theoretical arguments in the light of historical situations similar to the present.
Voting Procedures in United Nations Conferences for the Codification of International Law
The question of voting procedure in international conferences convoked to codify international law has been discussed for more than a hundred years, starting with the first Geneva Red Cross Conference in 1864. At the Hague Peace Conferences of 1899 and 1907 important departures were made from the unanimity rule in favor of near-unanimity or quasi-unanimity. Further steps toward a two-thirds rule were taken by the League of Nations in connection with the Hague Codification Conference of 1930. The question arose anew when the first United Nations conferences were held, and in particular as soon as the United Nations started its ambitious program for the progressive development of international law and its codification, pursuant to Article 13(1) (a) of the UN Charter.