Warsaw University Faculty of Economic Sciences Master of Arts in Development Economics

World Trade Organization - creating an inclusive world economy? SWOT analysis

Joanna Nestorowicz Album number: 257801

Warsaw, February 2007 1

Table of contents Introduction......................................................................................................................... 3 Purposes of WTO ............................................................................................................... 5 Negotiating forum .......................................................................................................... 6 Dispute resolution .......................................................................................................... 6 Set of rules .................................................................................................................... 7 Strengths............................................................................................................................ 7 Dispute Resolution Understanding................................................................................. 7 Facilities for LDCs.......................................................................................................... 8 Norms, rules and procedures......................................................................................... 9 Weaknesses......................................................................................................................10 Provisional state ...........................................................................................................10 Disobedience................................................................................................................11 Costs ............................................................................................................................11 Voting system ...............................................................................................................12 Opportunities .....................................................................................................................13 Structure, working schemes..........................................................................................13 Rules ............................................................................................................................13 Creating linkages..........................................................................................................14 Threats ..............................................................................................................................14 Time is money ..............................................................................................................15 Lesser evil ....................................................................................................................15 Loss of sovereignty.......................................................................................................15 Alternative solutions ..........................................................................................................16 Conclusions.......................................................................................................................18 Bibliography.......................................................................................................................19 Appendix ...........................................................................................................................20 WTO Dispute Resolution Scheme ................................................................................20 Chairpersons of the General Council and bodies reporting to it ....................................21 WTO Organizational Chart............................................................................................22

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Introduction The issue of trade has been of interest to representatives of many disciplines. It appears that it has not only economic impact, but also influences the social or even psychological sphere of one’s life.

On the Triobrand Islands there was a people, who carried out a very peculiar procedure. It was called the Exchange of Kula. They have exchanged among each other necklaces and bracelets made of white and red shells. One object was passed on clock-wise, the other anti-clock-wise among the islands. Each young boy inherited his trading partners form his father. Throughout his life he passed the objects he received form one trading partner to an other one. The necklaces and bracelets had different value of course – some were made of nice big shells, and some of old and broken ones. The rule was that one should give in return an object worth at least as much as the one received. The exchange was organized in such a way that one had to prepare an excursion to his trading partner’s island. He took a wooden boat and went there caring with him the item he wanted to offer. On the way he was supposed to be protected by his trading partner and during his stay on the trading partner’s island he also got full support, food and a place to stay. After leaving the object he would go back to his home island and wait (sometimes a few years even) to receive something in return.1

One might wonder what was the point of swimming around in boat in the middle of the Pacific Ocean and exchanging necklaces and bracelets made of shells. But in fact it was a very good way to facilitate trade of regular goods. The person swimming to an other island did not miss the opportunity to bring along any other product his village would want to sell to the other island. Thanks to that, under the umbrella of sacred, ancient rules of the exchange of Kula, he would receive protection and care. Anthropologists and economists would probably argue what was the added value – the Kula exchange or the trade of normal goods. Whichever it was the holy tradition surely enabled trade, development and infiltration of new ideas among that society.

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From the works by Bronisùaw Malinowski.

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According to economic theory all individuals behave rationally, maximizing their payoffs. This seems to be a very strong motor of their everyday actions. The next step in what any economist would say is that everyone maximizes their payoff until he or she reaches a state of an equilibrium. Yet if we go deeper into this issue it appears that we are rather risk averse beings and that as long as we are in an equilibrium we would not bother in analyzing whether it is a Pareto-optimal solution or not. But if there is a possibility of gaining more, then why not? Looking at some economic issues form a meta-level one can observe the possibilities which are not recognized from within the system. If such possibilities can be identified then how to make others see them? This is where a smart organization should go in. An organization should give the agents participating in the economic game an incentive to go for the best possible options instead of being safe in a less efficient state of things. On a theoretical level this can be done by introducing such constraints that would move the Nash Equilibrium to a position synonymous with the Pareto-optimal solution. One of the good examples of such an operation is imposing taxes in the ‘farmers and cows’ game. Creating an instrument which would discourage people from deviating and cheating on others, and give them an incentive to go for an optimal solution would be more then needed.

The above examples – of the Kula exchange and of the farmers and cows game – show what should be done in the field of economic organization design in order to facilitate and enhance international trade relations. If the web of Kula partners did not exist, and the rules of trade did not involve a certain ‘sacred framework’ trade of normal goods would not be as effective (Pareto-optimal) as it could be. If there was no tax imposed on the ‘cheaters-to-be’ in the farmers and cows game everyone would like to cheat and all in all they would gain less then they could. This applies especially to Least Developed Countries, which often are not strong enough – nor politically nor economically to make sure their interests are taken care of in the open world market. Enabling international trade according to the principals of equality and egalitarianism is possible, and needed. Of course everyone should ask now – how to do it?

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Purposes of WTO

Similar reasoning stood behind the creation of General Agreement on Tariffs and Trade, which after 50 years of development was transformed into the World Trade Organization in 1995. Yet it was not as simple as it seems. There have been numerous other proposals of creating an organization which would take over the role of the GATT. These will be mentioned in the final paragraph of this paper. This fact underlies the fact though, that GATT, and later WTO, were built with certain weaknesses. At first they were meant to be temporary institutions, which would facilitate the development of a more stable structure. This is what some member countries have to pay for nowadays. These weakness will also be addressed in the further parts of this text.

With rising inequalities in international trade participation and greater gaps between different actors the approach towards the system has also been very different. Stronger parties have been able to take advantage of the less developed economies. In other cases they have been able to take over the market of certain goods disabling others to participate in trade in that area. After the establishment of WTO international trade received a clear structure and ‘governing body’, based on the GATT principles of non-discrimination and equality. This ‘temporary agreement’, as it was meant to be on the day of its ratification is now one of the most important documents regulation international trade relations. This moment has been described as ‘one of the most important in the recent economic history’. As the WTO mentions itself:

Is it a bird, is it a plane?

There are a number of ways of looking at the WTO. It’s an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle trade disputes. It operates a system of trade rules. (But it’s not Superman, just in case anyone thought it could solve — or cause — all the world’s problems!)2

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www.wto.org (2007-02-17, 2:30 pm)

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Negotiating forum

At the moment the WTO is said to be mainly a negotiating forum, where member states can try and sort out the problems they have with each other. The whole thing about WTO concerns negotiations. It has been established, even under the previous GATT form as an ‘agreement’, not as an organization.

In some cases the negotiations may serve the

purpose of eliminating trade barriers or creating new links between countries. In other cases though the WTO may try to safeguard the world market, or the internal market of one of its member states, from negative externalities and spillovers coming from the policies of an other neighbor. It is supposed to prevent the beggar-thy-neighbor actions.

Keeping balance between these two is one of the main reasons why the West-oriented and ‘econocentric’, in that matter, organization is often said to be bias and unfair. Therefore it has also created a unique dispute resolution mechanism, which is the second main purpose underlying its existence.

Dispute resolution

The issues which are dealt with within the WTO framework are very complicated ones, they may affect the lives of all the citizens in a certain country. Above that they affect growth, development and resource flows to and from certain countries. The importance of these issues is so high, that the governments are willing to do all it takes to protect their interests, and the interests of their countries. In order to make sure that all the negotiated deals and actions taken up by other governments are legal and serve the interest of all the economies affected, the WTO has set up a system form resolving all the uncertainties which might occur.3 Of course the system has also many drawbacks, but these will be referred to in the further part of this paper.

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The scheme of the WTO Dispute Settlement process is in Appendix 1.

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Set of rules

The agreements reached in the WTO constitute a set of regulations affecting international trade relations worldwide. They include both bilateral and multilateral agreements which might be applicable to all the WTO members or just to some of them, who are signatories of a certain treaty. The contracts signed within the WTO framework oblige the member states to act for the benefit of world trade and maintain certain standards of trade policies. The goal is said to enabling trade between producers, consumers, exporters and importers, not between governments them selves, but f course it does depend on the internal policy of a certain state on how much trade freedom it gives to it’s agents. The issue is also to enable as much free trade as possible. This happens to be a deadly recipe for some economies, which are not able to deal with their competitors. This, as a weakness of the one-size-fits-all policy will be discussed further on. The WTO ensures that the rules, no matter of someone considers them to be good or bad, will remain predictable and transparent.

Strengths To have some positive thoughts, on which one can build his overall impression of one of the most powerful economic organizations in the contemporary world, I will start with the strong sides of the World Trade Organization. The approach of analyzing it with respect to creating an inclusive world economy denotes, that special attention will be drawn to these aspects of WTO’s functioning, which may affect LDCs.

Dispute Resolution Understanding

According to the WTO the possibility of solving disputes is very beneficial for the developing countries. The main reasoning of such thinking is that LDCs can be heard. The decisions are said to made on the basis of the rule of international law, and not on basis of economic power. It is far more effective then the GATT dispute resolution system, which was based merely on proper economic and political intuition of the member state

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representatives, to a system which does have a rather judiciary role in the international community. The main strength of the current system is that every country has equal access to it, and some states e.g. LDC, have the possibility of some preferential treatment. This enables place the weaker economies on a more equal footing with the world’s economic powers. It appears that developing countries have taken some advantage of the system – they have been complaints in over 30% of all the disputes put front of the WTO Dispute Settlement Body. In 2001 they have accounted even for 75% of all complaints. Since they do put all the effort needed to handle such a case this would indicate that the overall payoff from establishing such a case leaves them better off then of they did not have the possibility to resolve a controversial act.

In order to allow the payoff to be even high, or in some cases probably positive at all, the WTO has developed certain procedures, which allow LDCs to receive a privileged status and legal assistance. This includes faster procedures, longer time limits on request and legal advisory. Special and differential treatment takes place on all levels of the process starting from the consultations, through the panel stage, where developing countries can request that one of the members represents a country of a similar economic profile ending with the implementation of the DSBs decisions. Such practices surely are a clear signal to the developing world, that their situation is recognized as different from many other developed economies, and that the goal of WTO is to minimize these differences on a longer run. Having a guarantee that their interest will be handled with great care and understanding developing countries have an incentive to commit themselves to the WTO principals in exchange for a certain level of protection.

Facilities for LDCs

The WTO does acknowledge, that active participation in its structures is costly. Beginning from such aspects as maintaining an office in Geneva, through the training of human resources in order for people to be able to work within the WTO framework, up to the fact that recognizating some WTO suggestions concerning trade might on a short run be costinefficient for a certain state.

In order to handle these doubts the WTO has mad an extra mile to facilitate the well being of developing countries within its framework. Some of them, concerning the DRU, have been mentioned above, Other include such features as:

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Providing office space in Geneva

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Gathering extra funds to cover travel costs of government officials from LDCs

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Providing training, workshops and advisory assistance

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Containing special provision for LDCs in WTO agreements

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Establishing the Committee on trade and Development as a special body dealing with trade issues related to LDCs such as, trade, debt, budget deficit emergence, technology transfers, knowledge spillovers etc.

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Greater flexibility in policy adaptation

The facilities, as one can see include both – the technical aspects of being a member of a global organization and the substantial ones, which are the core reason behind the participation. Such practices are also a very clear signal to the developing world, that the economies facing certain difficulties, as far integration with the world system is concerned, will be taken care of. Their interest will handled with acre and that they should not be afraid of setting their trade relations free.

Norms, rules and procedures

The fact that the WTO set up a set of rules and procedures, which are to be followed by all the member states surely is a means of enhancing world trade, enabling it to happen also in the developing world without fear of being discriminated. The rules may give play a role of a point of reference to which one can always turn back in case they have an objection towards an other states trade policies.

Having a set of norms, to which most of the interested parties agree allows to create a specific ‘culture’ of trade. Which is explicitly the culture of the organization which facilitates it. Some behaviors could be misunderstood by actors coming from different cultural backgrounds, which include such aspects like business ethics, transaction procedures, so called ‘gentlemen’s’ agreements’ etc. Haven certain international rules applying to such actions

works just as the Diplomatic Protocol, which guarantees full understanding of

certain behaviors among all interested parties.

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Weaknesses

Just as any other human-made institution, the WTO is not perfect. If it simply created the rules of trade enhancement, made sure they are obeyed due to the DSU and enabled all countries in the world to join in by facilitating the membership of the poorest ones, it would be perfect. But each of these aspects has its own drawbacks. Besides that the whole organization, due to its uncertain entity, does show a lot weaknesses. Below there have mentioned just a few.

Provisional state The WTO came to life in 1995, after over 50 years of the existence of GATT. Of course its forerunner did develop certain good practices over these years, but by definition it was supposed to be a provisional entity. It was meant to be a solid basis of a different formal structure. The state of the world which was relevant for the establishment of all the Bretton Woods institutions was very different from the one we have now, yet the institutions remained more or less unchanged. The world after World War II, with the war’s winners and losers, with the colonies in Africa, with the Indies dependent on the British Empire, with Japan overtaken by general Douglas MacArthur was nothing like the First through Third World of today, with its North, South, East and West. The disparities have grown over these years worldwide. They have grown on an economic level, but there has a been a lot of political actions signaling that we are all equal participants of the game of world politics. These two facts are contradictory and lead to the effect of relative depravation of certain economies on a global scale. Despite intra-regional convergence, there has been great inter-regional divergence and the countries which see that their current state is much weaker then their neighbors, or even that the one of countries situated somewhere else on the globe, have the urge to catch up, to be more equal then they are now. These incentives and motives for economic and political actions change the international arena to a great extent. Such changes should affect also the structure and mechanisms of organizations involved in the economic ad political frilds of international cooperation. Such things did not happen and therefore it is easy to predict that perhaps such a WTO is not functioning optimally, but due to a peculiar ‘QWERTY effect’ it remains in a less-efficient equilibrium.

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Disobedience One of the drawbacks of the WTO, and probably many other international organizations as well, is the challenge of globalization vs. state sovereignty. An example of such a problem was the fiasco of the WTO Doha Round in 2001. Pascal Lamy keeps trying to revive the negotiations, but some WTO members remain having the position that it is better not have an agreement rather than have an agreement on poor conditions. The negotiations have brought no vision of a successful end form the very beginning. The fiasco has allowed for certain weaknesses to strengthen up and some threats to become more and more realistic. Nowadays it appears that despite all the disadvantages the lack of such an organization as the WTO would lead to the mergence of bilateral and multilateral trade agreement which would make the LDCs position even weaker, and deprive them of eve the basic advantages they might have from an international economic organization’s protection.

At the moment the fact that member states do not approve of some WTO solutions the whole organization is in a stalemate situation. This is not good. Of course it is also not good if member states of any international organization had to be 100% committed to the decision made within its framework.

It either has to be choosing lesser veil then, or

creating such procedures, which enable the interested parties to carry on with the works until a common consensus can be reached. This probably would require giving some economic incentives to the states which are ‘against’.

Costs

Institutions are costly. They usually require establishing special governing bodies, which would control trade in a certain region, the bodies need offices, computers, they have travel expenses. One might think that if all of that capital was invested in enhancing trade relations, rising the competitiveness of some sectors it would bring more good. Surely it is so. The way to reach such a state would be to use the already existing institutions within the countries. This way we would omit the costs of creating a new node and instead use all the effort in order to establish solid links between e.g. trade offices, ministries, entrepreneurship associations etc. A definite advantage of such an option is that with in the framework of facilitating international trade, we can invest in human capital, which already serves this cause in a certain way. One can predict that it would lead to the overall

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improvement of the effectiveness of labor. Yet of curse some form of coordination among those national agents is necessary – a form of an umbrella association. This option does imply some costs, but they are not as high as they could be if it was an independent body, such as the WTO. Of course some supra-national institutions would be a good option. Among these one could name e.g. a regional development bank (as the Asian Development Bank) or a court which would take care of all the trade related dispute resolution. Of curse such bodies require states to give up some of their sovereignty, what implies certain political, if not financial, costs. Yet as far as dispute resolution is concerned the WTO has learned certain lessons from the existence of such a structure. Together with growth and development of an economy we can observe the development of human resources and human capital. Developing countries may lack the necessary specialists in order to be able to analyze the matter of the dispute and prepare possible responses. The mechanisms of such proceedings are quite complicated and any representative of any party involved in the process must be an expert in the field with appropriate academic background and professional experience.

Voting system

The voting system within the WTO framework leaves a lot to wish for. On one hand the organization clearly states that it is there also in order to enable LDCs take an advantage of the possibilities offered by free trade and that it tends to equalize their position with the position of stronger actors on the world economic scene. But on the other hand the voting system within WTO does favors the richest economies. The reason behind this lays in the circumstances, under which the WTO was established. When the US, after WWII, applied the Marshal Plan in order to make sure that their export surplus found a market it had also made an attempt to solve such problems globally. The Bretton Woods institutions were supposed to be the panacea. But of course they were fashioned in the image and likeness of their creators – the strategic players at that time – the United States of America and the United Kingdom.

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Opportunities

The opportunities arising form such an institution as the WTO are enormous. All that has been developed so far, and what constitutes a strength within the organization’s framework can be the fundament for further enhancements. It can also be a tool to fight all the weaknesses and deal with the threats. The opportunities constitute a set of possibilities, options, solutions, which might be way to create a fully inclusive world economy, as one would wish there existed.

Structure, working schemes

During 60 years of the existence of a worldwide trade agreement a lot different charters, regulatory acts and good practices evolved. These are a from basis for the development of new, more modern structures and pacts. All the linkages, which have been developed so far, and all the lessons the member states have learned within these years may also be something new, emerging markets could take advantage of. The knowledge spillover in such a differentiated body as the WTO gatherings could be enormous. The only thing is that all should then work for the benefit of everyone else. Only in that case would it be possible to achieve a state of things accepted by everyone and on the other hand do not reach a dead end just as during the Doha Round mentioned above.

Rules

The rules governing the WTO have emerged during its lifespan. As every organization the WTO is maybe undergoing a certain crisis of executing and implementing some of its principals by all the parties, but generally it surely has some good practices, which based on the idea of being a learning organization, might be lessons to learn. The problems which emerged form the implementation, or rather lack of implementation of these rules, are ones which should not happen again, We are richer in over 50 years of experience in monitoring and safeguarding international trade relations, there have been to generations

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which do not know a different system of handling world trade then the GATT/WTO way. This means that some of the procedures have been already internalized by countries and became natural procedures and standard routines. Based on this one can build more effective solutions, which would managed to get more and more economies involved in the creation of today’s economic reality.

Creating linkages

The WTO has enabled many countries to get together and take advantage of the e.g. neighborhood in order to improve their relations. It has also managed to deal with many disputes involving both developed and developing countries which were settled in a diplomatic way, maybe often avoiding armed conflict or other externalities which could have occurred. All of these linkages probably serve not only WTO purposes right now, but also the establishment of regional trade areas and agreements. As it has been said regional development is quite an important trend nowadays and therefore it should not be underestimated. Creating a regional economic organization gives its member states more bargaining power in the world market. Such a tendency can be clearly seen in the case of the European Union or the ASEAN. Now taking advantage of these regional institutions xca be one of the roles of the ‘new’ WTO which will have to emerge sooner or later.

Threats

The threats are factors, which might discourage states to join such an organization as the WTO. This also means they are not fully recognized on the world economic forum. Such a situation makes them left-outs, outsiders, who are not considered as potential partners in trade relations. They are not able to take advantage of the strengths of the World Trade organization’s structures as well - the Dispute Settlement Understanding just be one example.

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Time is money

One of the bad procedures of the WTO DSU is the fact that, as it was written before, participating in these procedures is costly. It is not only the cost of hiring lawyers and enhancing human resources in order to fully benefit form all the legal procedures offered within the WTO framework, But all the actions taken up by stronger parties also cost developing states lots of money and other resources. Even if such a case is brought in front of the Dispute Settlement Body it might take even up to three years for certain sanctions or unfair practices to be taken down. In that time the LDC has to suffer form the discriminating treatment as, as was mentioned before, it does not have enough political nor economic power to deal with such an issue without the intervention of an international regulatory body.

Lesser evil

One might wonder if it is not so, that the world has gone so far into the idea of trade being facilitated by such an institution as the WTO, that new, emerging economies, or economies undergoing transition, which would be will to join the WTO are not actually forced to do it. For some countries the requirements of the WTO, even if we take into consideration the preferential treatment offered to the LDCs. For many joining the WTO is a form of lesser evil as opposed to not joining the structure. The obligation to liberalize trade, often under conditions which were not designed in order to take into consideration the specific situation of that country, but crafted as a one size-fits-all t-shirt is not a pull factor for many. Yet unfortunately they are made to follow the saying: Can’t beat ‘em, join ‘em!

Loss of sovereignty

The loss of state power is a wide issue discussed in the context of all international or supranational organizations and agreements. The fact that a government has to resign from taking a number of decisions and allow a body which is placed thousands of miles

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away to take them instead is quite a freaky idea. If one then considers that the decisions made in Geneva influence the lives of people in Ouagadougou giving up this opportunity seems to be even much more costly.

This threat could be eliminated by establishing a fully democratic and representative governing body of such an organization, but unfortunately such a voting system has not yet been developed. An interesting solution might be to implement a two-track approach where one body would take decisions based on the proportion of

a countries impact or

participation in the world – population, economy, natural environment etc. and the other body, debating at a parallel level would take decisions based on the one vote per country rule. Creating a supranational body, which would take decisions on behalf of ‘the world’s’ interests and not just on behalf of the countries of citizenship of the members would also be a solution. These would encourage states to participate in such a decision process and therefore enhance world trade by creating more and more links between states and thanks to that create an inclusive world economy, where everyone plays a role.

Alternative solutions

An alternative solution to the WTO was presented by John Keynes in 1942. His idea was to create the International Trade Organization, which would be supported in its works by the International Clearing Union. The ICU was supposed to release its own currency – the bancor.

At the Bretton Woods conference it was settled that the ITO had to wait. Despite the support for the idea provided by the British, the Americans, as the biggest economic and political power of that time were against. GATT signed in 1947 was said to be the future ‘charter’ of the ITO. Unfortunately the project was never put in action due to the fact that that it’s creators and main supporters was either excluded from the decision making process or simply passed away.

One of the main differences between the Keynesian ITO and the GATT or the WTO nowadays is that the ITO was supposed to be strictly linked to the United Nations system. This would automatically being obliged to follow all the other UN documents including ones on labor rights or human rights. The poorest countries, according to the ITO charter, had

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the right to fight for and defend their own interest by enforcing specific interventions and protectionism against their primary goods. The ITO was focused on the idea of comparative advantage and developing the branches of goods in which one country good be relatively better form the others. It also encouraged countries to form such subgroups as the contemporary OPEC, which would collaborate in order to develop the trade of a certain good in the world arena. ITO wanted a vast majority of primary good s to by first processed in the country of their origin in order to raise their price abroad. Such a policy would surely help the developing world, where due to lack of technology resources are export products in their most raw form, And then they become more and more valuable as they pass through the following stages of processing (what happens in the developed countries, which make relatively more money then what they have paid for the good in the country of origin). The voting system was supposed to be absolutely egalitarian with one vote per country. The right to vote was also linked to the quota paid by the country to the UN. In case of debt the country would loose its voting rights in the ITO.

The idea of the bancor was supposed to keep the world trade system in balance. It was to punish for exceeding a certain level of both imports and exports. Thanks to that developed countries would have to establish numerous links with countries from which they would be willing to import products in order to cover for the enormous exports. If trade exceeded a certain level anyway, the surplus would be collected by the ITO and used for enhancing and liberalization of international trade further on.

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Conclusions

Despite the strengths which such an organization is said to have, there still are some drawbacks in its functioning. Especially in the context of facilitating trade of LDCs in the world market. Some of them are:

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sparse language with little details about rules or procedures

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imprecise power of parties concerning the dispute settlement process, rising the number of cases in which there two parties involved, blocking each other and disabling an agreement or consensus

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possibility of not putting into action the organizations decisions and recommendations

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government pressures on e.g. panelists in the dispute settlement process

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many different ‘agreements’ to be followed within the WTO framework, fragmentation of rules and procedure schemes4

The fact that there are much more weaknesses and threats to WTO existence then there are strengths and opportunities, might indicate the need to revise the purpose, current role and future development. Since more things are uncertain to it, then there are certain issues, which already take place, a change in the organization in order to take advantage of the possible opportunities and eliminate the threats deriving from the contemporary WTO framework might be a very good solution.

The world has changed, even since the GATT to WTO transition in 1995 it has been 12 years. So the organization has to change as well. Maybe the Keynesian model could be once more revised and taken into consideration. Maybe we could avoid a situation in which Third World countries are getting more and more indebted and due to that more and more excluded at the same time.

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Jackson [2000: 177]

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Bibliography 

Bayene N., Woolcock S., The New Economic Diplomacy, Ashgate, UK 2003

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Crosby B. C., and Bryson, J. M., Leadership for the Common Good, Jossey-Bass, San Fransisco 2005.

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Hampden-Turner C., Trompenaars A., The seven cultures of capitalism, Currency, 1997.

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Harrison L. E., Huntington S. P. (red.), Kultura ma znaczenie, Zysk i S-ka, Poznañ 2003.

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Jackson John H., The jurisprudence of GATT & the WTO, Cambridge University Press, 2000.

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Hoekman B., Kostecki M. M., Ekonomia œwiatowego systemu handlu, Wydawnictwo Akademii Ekonomicznej we Wrocùawiu, Wrocùaw 2002.

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Landes D., The wealth and poverty of nations: why some are so rich and some so poor, W. W. Norton & Company, 1999.

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Mytelka L. K. (ed.), Competition, innovation and competitiveness in developing countries, OECD, Paris 1999.

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OECD, Sustainable development. Critical issues, OECD, Paris 2001.

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Appendix WTO Dispute Resolution Scheme Source: www.wto.org

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Chairpersons of the General Council and bodies reporting to it Source: www.wto.org

General Council

Amb. Muhamad Noor (Malaysia)

Dispute Settlement Body

Amb. Muhamad Noor YACOB (Malaysia)

Trade Policy Review Body

Amb. Claudia URIBE (Colombia)

Council for Trade in Goods

Amb. Yonov Frederick AGAH (Nigeria)

Council for Trade in Services

Amb. François ROUX (Belgium)

Council for TRIPS

H.E. Mr. Trevor CLARKE (Barbados)

Committee on Trade and Environment

H.E. Mr. Shree Baboo Chekitan SERVANSING (Mauritius)

Committee on Trade and Development

H.E. Mr. Faizel ISMAIL (South Africa)

Committee on Balance-of Payments Restrictions

Mr. Víctor Echevarría UGARTE (Spain)

Committee on Regional Trade Agreements

Amb. Ousmane CAMARA (Senegal)

Committee on Budget, Finance and Administration

Mr. Jan-Meinte POSTMA (Netherlands)

Working Group on Trade and Transfer of Technology

H.E. Mr. Manuel Antonio J. TEEHANKEE (Philippines)

Working Group on Trade, Debt and Finance

H.E. Mr. KWERONDA-RUHEMBA (Uganda)

Trade Negotiations Committee

WTO Director-General Pascal LAMY (ex officio)

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WTO Organizational Chart Source: www.wto.org

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