Synopsis
The GATT regime is under stress from a number of quarters. It appears that the embedded liberal strength in the GATT regime itself may not be sufficient to preserve its functioning and it finds itself, therefore, at a crossroads. Either it will lose its management capability, or it will succeed in bringing about a new stimulus for revival. The demand for strengthening the regime is enormous; the reluctance, however, of the large trading nations to control protectionism and economic nationalism is evident, despite frequent lip service in favour of free trade. This book presents the views of an international group of trade experts, who analyse the policies of the United States, Japan, and the European Community vis-a-vis the GATT, and assess the prospects for GATT revival under trilateral or transatlantic leadership.
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