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Focusing
on frictions between developing countries
and industrial economies in the area of
trade in manufactured goods, this paper
argues that the deadlock in negotiations
during the recent WTO meetings is related
to a number of fallacies and contradictions
surrounding both the theories and practices
of universal trade liberalization and
infant industry protection. Given that
these fallacies have resulted in contradictions
in the design and implementation of WTO
rules to the detriment of the interests
of developing countries, it is argued
that there is a need to design a new trade
policy for developing countries as well
as to revise international trade rules.
October 31, 2003.
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