From Spaghetti Bowl to Jigsaw Puzzle? Addressing the Disarray in the World Trade System

摘要: The rise of mega-regionals such as the Regional Comprehensive Economic Partnership (RCEP) and Trans-Pacific (TPP) suggests that world trade system is fragmenting to point it appears more like a jigsaw puzzle than spaghetti bowl. There are both regional global puzzles be solved—in order—to clean up system. But this even likely? difficulties free agreement (FTA) consolidation at level well known, while piecing together blocs around form coherent whole challenging. In context, way forward return most widely used modality liberalization—unilateral actions—but time involving multilateralization preferences rather unreciprocated reductions in tariff rates. As FTAs negotiated, reference erosion sets in, reducing resistance FTA partners multilateralization. Multilateralization references may then present practical addressing disarray