Trade policy used to be a rather simple matter of defining conditions of access to
markets at the border. Little more was needed than rules defining non-discriminatory
tariff levels, circumscribing the use of quantitative trade restrictions, and protecting
the conditions of market access through the principle of national treatment. But the
very success of these simple rules in creating the conditions for successive bouts of
market-opening negotiations bred the complex and multi-faceted institution that is
the World Trade Organization of today. As tariffs tumbled, all manner of other
policies became crucial for continuing market integration. The rules had to follow
the reality. It is a brave person now who claims more than a passing familiarity with
each and every aspect of the WTO Agreements.In this fascinating labyrinth of what passes for policy relating to trade, it is
unconvincing to argue that there is ever enough research and analysis. There will
always be more that needs to be explored and better understood. Every effort to
illuminate, to clarify, and to explain the trading system must surely be welcome. But
if we are to advance our understanding of what makes sense and what does not, and
contribute effectively to international economic cooperation, the quality and
integrity of analysis is vital. This has become more especially true in recent years as
dozens of developing countries facing formidable development challenges seek
progress through meaningful participation in the world trading system. One of the
great strengths of the WTO is its commitment to universality. If we are to give
meaning to this vision and foster confidence in the fairness of the system, we must
ensure its proper design on solid conceptual foundations.I am proud to associate the WTO Secretariat with the birth of the World Trade
Review. The journal is committed to promoting high-quality policy analysis and
welcomes contributions from a wide range of disciplines and cross-section of
contributors. This is not an in-house journal devoted to selling pre-conceived ideas.
Its mission is to promote informed and honest debate and to deepen understanding.
The journal's editorial independence is central to these objectives. I wish the Editor
and the members of the Editorial Board of the World Trade Review well in this
important endeavour.
Will International Rules on Subsidies Disrupt the World Trading System?
