CHAPTER 7

Multilateral Regulation of Trade

LEARNING OBJECTIVES

After reading this chapter, you should be able to:

  • Understand the institutional framework of the multilateral trade environment
  • Comprehend the objectives, institutional framework, and functioning of the WTO
  • Explain the need for UNCTAD as a multilateral trading institution

DUMPING IN INTERNATIONAL TRADE

Dumping is a trading malpractice where a company exports a product at a price lower than the price it would charge in the domestic market. This is considered to be unfair competition and many governments take action against dumping in order to defend their domestic industries.

WTO’s provisions allow countries to take action against dumping, although it has no provisions ...

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