Title: Free Trade Agreements, New Trade Rules and Global Trading System Restructuring

Author: Shen Minghui

Abstract: After World War II, developed countries have mainly formulated international economic and trade rules, with the United States dominating their efforts. As increasingly more developing countries join the world economic system, they will surely participate in formulating international rules. The achievements at the Uruguay Round have somewhat reflected the accomplishments of developing countries’ participation. However, the Doha Round, which should have represented changes in the world economic structure and the accomplishments of developing countries’ participation, has halted due to objections by developed countries led by the United States. Nowadays, these countries wish to continue dominating the development of new rules and promote new regional rules they dominate to influence the multilateral mechanism so they can dominate new international competition. In the future, competition centered on the formulation of new trade and investment rules will become a focus of international economic relationships.

Keywords: Free Trade Agreement (FTA), Multilateral trading system, East Asia, TTP