Trade and Development: Directions for the 21st Century (In Association With Unctad)

by J. F. J. Toye (Editor), United Nations Conference on Trade and D (Corporate Author)



This work questions what enduring lessons have been learnt about the interdependence of international trade and economic development since 1950. Since the end of the Cold War and the advent of the WTO, developing countries have been forced to face the choice of whether, and to what extent, to integrate economically with the rest of the world. The key issue of international political economy is emphasized. The authors argue that while integration through trade has become increasingly necessary for successful development, it rapidly encounters a series of problems that remain to be resolved. These range from increasing inequality and instability, the vagaries of WTO rules, persistent agricultural protection in developed countries, through to inadequate finance and new waves of technological innovation. Underlying all these concerns, however, is the deeper question of how much the developing countries can influence the setting of the rules of the international system.