Eduardo Valencia
Infographic | 2024
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The story of the GATT and then the WTO has been a mirror of the successes and problems of globalization in the second half of the 20th century. Both institutions have overseen a period of major global economic liberalization. As the WTO reviews national trade policies, settles trade disputes, and negotiates more comprehensive trade agreements, predictability and transparency are added to the world economy.
Source: Michel Fouquin & Jules Hugot , 2016. "Two Centuries of Bilateral Trade and Gravity Data: 1827-2014," CEPII Working Paper 2016- 14 , May 2016 , CEPII