Law Quadrangle (formerly Law Quad Notes)

Article Title

Goodbye GATT, Hello WTO.


This article is based on an article published in the May 1996 Bulletin of the Institute of Advanced Legal Studies, London, England, where Professor Jackson recently was a visiting fellow.

On Jan. 1, 1995 the placards on the front of the large building on the shore of Lake Geneva were changed from GATT to WTO - World Trade Organization. On this date, a new organization came into being for the purposes of assisting governments in the world to better manage problems of international economic interdependence. This event occurred 50 years after the establishment of the Bretton Woods System (with the World Bank and IMF Charters), and almost 50 years after the establishment of the GATT (General Agreement on Tariffs and Trade) and the failure of the ITO Charter (International Trade Organization), which would have been the institution to complete the Bretton Woods system.