Trade Policy At The Crossroads: The Recent Experience Of Developing Countries

Analyzing the experience of developing countries in recent years and the deadlock in trade negotiation in WTO, the author argues that the theories and practices of trade and industrial policies are surrounded by a number of fallacie, namely: that universal liberalization benefits all developing countries; that the Invisible Hand of free market alone is conducive to industrialization; that the infant industry argument is against export expansion; that developed countries industrialized without government intervention; that WTO rules are conducive to development.