The Gains from Trade and the Global Commons
The chapter concludes by summarizing the case for a focused WTO dedicated to trade liberalization, with recommendations for improving the world trading system and rejuvenating the political coalition for trade in the face of globalization and nontrade issues. The WTO provides a framework for capturing trade benefits, which can serve as the foundation not only for economic growth and greater prosperity, but also for a more unified world economy. These benefits, in turn, may contribute to greater political stability, progress on human rights and labor standards, and efforts to secure a sustainable global environment.
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