“You skate to where the puck will be, not where it is.”
(Steve Jobs, CEO of Apple Inc.)
Trade liberalization, like much in international governance, happens both through regional and multilateral integration. In political economy, there has been some debate over the merits and demerits of regional trade blocs, whether they constitute “building blocs” or “stumbling stones” for world trade.
I think that by creating universally, rather than regionally binding precedents under the World Trade Organization‘s (WTO) Dispute Settlement Understanding (DSU), multilateral integration helps us to level to playing field of trade liberalization, to strengthen “right over might” and to address the fundamental equity concerns of economic globalization.
