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The Ties That Bind? Regionalism, Commercial Treaties, And The Future Of Global Economic Integration, Chris Brummer
The Ties That Bind? Regionalism, Commercial Treaties, And The Future Of Global Economic Integration, Chris Brummer
Vanderbilt Law Review
A revolutionary shift in international cooperation is underway. Many governments, frustrated with dissension hampering multilateral trade reform at the World Trade Organization ("WTO"), are now turning to bilateral and regional treaties to forward their commercial interests.1 Under these agreements, which rocketed from fewer than 390 in 1989 to more than 2,400 today,2 states have relinquished key aspects of their economic sovereignty to participate in two-party pacts and regional trade clubs like the North American Free Trade Agreement ("NAFTA") and the European Union ("EU"). As a result of such cooperation, most countries no longer may levy tariffs easily, subsidize their domestic …