Publication

This paper discusses the post-World War II international trade policy framework and how it is being challenged by a proliferation of bilateral and regional trading arrangements. The author explains that Australia faces a choice over whether to join this preferential trade bandwagon and risk collateral damage to the multilateral trading system; or to go no further down this road but risk being left behind in the event that the rush to preferential trade agreements continues, leaving the multilateral system increasingly sidelined.