Preface ix
1 Introduction 1
I The World Trading System of the Twentieth Century 29
2 The GATT/WTO 31
3 What Do Trade Negotiators Negotiate About? 59
4 Tariff Bargaining in the GATT/WTO 77
5 Tariff Bargaining without GATT/WTO Rules 99
6 The GATT/WTO as an Incomplete Contract 119
II Meeting the Challenges of the Twenty-First Century 147
7 The Rise of Large Emerging Markets 149
8 Climate Change 169
9 Digital Trade 187
10 The Rise of Offshoring and Global Value Chains 219
11 The Push toward Regulatory Convergence 237
III The Future of the Rules-Based Multilateral Trading System 263
12 The Elephants in the Room 265
13 A World Trading System for the Twenty-First Century 295
14 Conclusion 305
References 311
Index 325
