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Chapter Summary

This is the introduction chapter of the book, which examines the changing nature of international trade as it relates to services and main concepts and principles of General Agreement on Trade in Services (GATS) that apply to cross-border trade in services. It does so from diverse disciplinary perspectives that include political economy, law, globalisation theory, regulation and management practice. It first addresses some of the overarching issues in trade in services and goods debate and how certain GATS principles, such as non-discrimination, should be applied in services context. It then examines the delicate interaction between the principles of trade liberalisation and economic benefits they bring and the role of regulation in promoting efficient provision of services. It also addresses WTO dispute resolution and the GATS. The book analyses the application of GATS to the financial services sector and some of the conceptual and practical issues that confront policymakers and practitioners.

Keywords: cross-border trade; General Agreement on Trade in Services (GATS); globalisation theory; International trade; non-discrimination; political economy; trade liberalisation; WTO dispute resolution



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