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Just TradeA New Covenant Linking Trade and Human Rights$
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Berta Esperanza Hernández-Truyol and Stephen Joseph Powell

Print publication date: 2009

Print ISBN-13: 9780814736937

Published to NYU Press Scholarship Online: March 2016

DOI: 10.18574/nyu/9780814736937.001.0001

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Pillars and Escape Hatches

Pillars and Escape Hatches

International Law Primer

(p.13) 1 Global Concepts
Just Trade

Berta Esperanza Hernández-Truyol

Stephen Joseph Powell

NYU Press

This chapter explores the fundamental premises and economic underpinnings of the global trading system that are relevant to trade and human rights law, with particular emphasis on the basic concepts of international trade law in the Americas. It begins with an overview of the GATT and the World Trade Organization (WTO) before turning to a discussion of the principles of absolute advantage and comparative advantage. It then considers the four pillars of GATT and exceptions to the pillars, along with WTO dispute settlement. Finally, it assesses trade in the Americas by citing free trade agreements, the case of Cuba, and the Free Trade Area of the Americas.

Keywords:   global trading system, international trade, human rights law, international trade law, Americas, GATT, World Trade Organization, comparative advantage, dispute settlement, free trade agreements

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