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Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of the day, shines here a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTA's endangers the world trading system. Numbering by now well over 300, and rapidly increasing, these preferential trade agreements, many taking the form of Free Trade Agreements, have re-created the unhappy situation of the 1930's, when world trade was undermined by discriminatory

Foreign trade policy --- Tariff preferences --- Trade blocs --- Free trade --- Commercial policy --- International trade --- PREFERENTIAL TRADE AGREEMENTS -- 338.98 --- TARIFF PREFERENCES -- 338.98 --- TARIFF PREFERENCES -- 330.17 --- 382.30 --- 337.53 --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden. --- Voorkeur- of preferentiële tarieven. --- Differential duty --- Discriminating duty --- Generalized system of preferences (Tariff) --- GSP (Tariff) --- Preferences, Tariff --- Preferential duty --- Preferential tariff --- Trade preferences --- Tariff --- External trade --- Foreign commerce --- Foreign trade --- Global commerce --- Global trade --- Trade, International --- World trade --- Commerce --- International economic relations --- Non-traded goods --- Free trade and protection --- Trade, Free --- Trade liberalization --- International trade policy --- Trade policy --- Economic policy --- Regional economic blocs --- Regional trading blocs --- Trading blocs --- Voorkeur- of preferentiële tarieven --- Handels- en wisselpolitiek in hun verband met de buitenlandse handel: algemeenheden --- Government policy --- Tariff preferences. --- Trade blocs. --- Free trade. --- Commercial policy. --- International trade.