Pillars and Escape Hatches
Pillars and Escape Hatches
International Law Primer
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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