Chapter 1: | Introduction |
The AAU’s concerns have resulted in the production of two major documents, namely, proceedings from two AAU conferences, which highlight its strategy to face the challenge of possible power limitations. I use these documents as part of the primary sources in this study.
Historically, the WTO results from the agreement between developed and less developed countries to form a new organization that would extend and strengthen the GATT. This regime change follows the demands of less developed countries for a New International Economic Order, which have involved struggles over what international regimes should govern trade in raw materials and manufactures as well as direct foreign investment (Keohane & Nye, 2001). The demands for better governing of trade and the consequent formation of the WTO reflect a globally shared perception between developed and less developed countries of the need for a global regulatory regime to arbitrate on trade matters, thus witnessing to the fact that members agree with the “hegemonic” jurisdiction of the WTO.