Courtesy Reuters


The debacle of the World Trade Organization's meeting in Seattle last year underscored how much can go wrong with world trade -- and how insecure the future of trade liberalization has become. America's overreaching unilateralism offended delegations from around the world and undercut the multilateral premise of the gathering. Seattle's timing and location were equally disastrous, in contrast to the carefully planned (and relatively secluded) launch of the Uruguay Round, which began in 1986 in Punta del Este. And the industrial nations, led by the United States, did not even address one of the most vital issues:

This article is part of our premium archives.

To continue reading and get full access to our entire archive, you must subscribe.