Global trade and anti-dumping

Member countries of the WTO have the responsibility to exercise restraint in invoking the anti-dumping provisions. Unfairly invoked duties can unleash a trade war and diminish growth in the world econ

Global trade’s importance can hardly be overemphasised. After the ravages of the Second World War, a new architecture for world trade was erected. The General Agreement on Tariffs and Trade (GATT) was the centrepiece of these new trade arrangements. Developed countries lowered their tariffs. The emerging markets, especially Japan and Taiwan, took full advantage of this and were recently followed by China, Malaysia, Vietnam and Thailand. No country in post-World War history has grown by 7 per cent or more without its export growing by 10 per cent. But like all good things unfettered trade may sometimes harm countries, especially