Global Trade Liberalisation: Coordination and Coherence

In: The Australian economic review, Band 34, Heft 1, S. 3-13

Abstract

Globalisation is a major issue in international debate. The demonstrations in Seattle in 1999 showed that there is a high level of public concern over the growth of world trade and the institutions, such as the International Monetary Fund, the World Bank and the World Trade Organisation (WTO), that have key roles in global trade and development. Much of the concern relates to developing countries and their place in the international economy. This article is an edited version of a paper presented by His Excellency Dr Supachai Panitchpakdi as the 2000 David Finch Lecture at the University of Melbourne on 5 July 2000. Dr Supachai is a key player in the development of the international economy and is the next Director General of the WTO. In his article, Dr Supachai addresses many of the concerns relating to globalisation and developing countries. He discusses the key issues facing the WTO and world trade in general, focusing on the need for both coordination and coherence in the development of international economic relations. In particular, he highlights the need for an inclusive approach to international trade liberalisation.