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Executive Insights: The World Trade Organization—Perspectives and Prospects

This article is based on a presentation made by the author to the staff of the International Trade Centre and the GATT in Geneva in the summer of 1994. It highlights the similarities between the International Trade Organization (ITO) which was proposed in 1948 and subsequently rejected, and the newly proposed World Trade Organization (WTO). A changed world environment is seen as favorable to the WTO. However, caution is expressed against overloading the WTO with issues and causes not germane to trade and investment.