ABSTRACT
After the Second World War, economic powers began to adopt the doctrine of non-discrimination and reciprocity in international trade. The commitment to free trade culminated in the formation of the General Agreement on Tariffs and Trade (GATT). By the 1980s, however, the evasion of GATT rules had become widespread due to various disputes between developed and developing nations. Such discord among the member countries resulted in voluntary export restraints and orderly marketing agreements that in turn seriously undermined the effectiveness of the GATT system, which hinged on the idea of non-discrimination and reciprocity. In 1995, the World Trade Organization (WTO) replaced the GATT, encompassing some areas not covered by its predecessor such as international trade of intellectual property. With over 150 member countries within the new system, however, a multilateral consensus is still impractical and challenging.
