The post-World War II international trade policy framework is being challenged by a proliferation of bilateral and regional trading arrangements. Australia faces a choice over whether to join this preferential trade bandwagon and risk collateral damage to the multilateral trading system, or to go no further down the preferential trade road but risk being “left behind” in the event that the rush to PTAs continues, leaving the multilateral system increasingly sidelined.
Mark Thirlwell
The post-World War II international trade policy framework is being challenged by a proliferation of bilateral and regional trading arrangements. Australia faces a choice over whether to join this preferential trade bandwagon and risk collateral damage to the multilateral trading system, or to go no further down the preferential trade road but risk being “left behind” in the event that the rush to PTAs continues, leaving the multilateral system increasingly sidelined.
Mark Thirlwell
PO Box H-159
Australia Square NSW 1215, Australia
Lowy Institute
31 Bligh Street
Sydney NSW 2000
ABN: 40 102 792 174