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- Title
State Capitalism in the GATT/WTO Legal Order.
- Authors
Mavroidis, Petros C; Sapir, André
- Abstract
Originally, the multilateral trading regime did not address state capitalism in a comprehensive manner, since none of the General Agreement on Tariffs and Trade founders had espoused this form of economic governance. The General Agreement on Tariffs and Trade did contain specific provisions dealing with state trading and with subsidies, but nothing more. This situation has remained unchanged over the years, except for tightening the screws in areas already regulated (like subsidies), even though the General Agreement on Tariffs and Trade/World Trade Organization membership has become more and more heterogenous, with some members being overtly state capitalists. This was the case because these new members were either too small to really matter (e.g. Hungary) or because it was hoped that bigger players would transform into market economies (e.g. China). In hindsight, this has proved to be a grave error, since many of the difficulties that the world trading system currently faces originate in the unsatisfactory disciplining of state intervention in the workings of the economy of World Trade Organization members.
- Subjects
WORLD Trade Organization; GENERAL Agreement on Tariffs &; Trade (Organization); STATE capitalism; INTERVENTION (Federal government); INTERNATIONAL economic relations
- Publication
Journal of International Economic Law, 2023, Vol 26, Issue 1, p154
- ISSN
1369-3034
- Publication type
Article
- DOI
10.1093/jiel/jgad001