The recent conclusion of the GATT Uruguay Round negotiations, the creation of the World Trade Organization, as well as the emergence of regional trading arrangements have underlined the significance of international trade regulation. As new trade issues emerge and we look into the future of the world trading system it is important that we understand its basic workings. The course introduces the rules and institutions that govern international trade. Students will get a first impression of the working of the international community and the structure of international law. Investment capital flows to countries with low standards for the protection of the environment or low labor standards.
Consumers buy goods produced under appalling health and human rights conditions.
These negative consequences of free trade have recently become the object of a lively debate in law, economics and among hundreds of political action groups all around the world. Students are expected to come to class prepared and participate in our discussions. It is my impression that dozens of citizens action groups and also some universities have created websites dealing with trade and environment, trade and labor and trade and human rights issues. Students are expected to study this internet information and possibly get in touch with relevant groups in order to find out more about their intentions.