This article will describe in some detail the most dramatic modifications within the framework of the multilateral trading system designed to support the projected trade expansion, namely, the new organizational structure under the WTO and the new dispute settlement procedures. The article will evaluate these changes against the backdrop of the Bretton Woods System as originally conceived and will highlight the debate surrounding whether the nature of the trade regulating body ought to be adjudicatory or negotiatory. Finally, the author offers conclusions, perspectives, and comments regarding the future development of the world trading system.
Thomas J. Dillon Jr.,
The World Trade Organization: A New Legal Order for World Trade?,
Mich. J. Int'l L.
Available at: https://repository.law.umich.edu/mjil/vol16/iss2/2