The General Agreement on Trade in Services (GATS) is far broader in policy coverage than conventional trade agreements for goods. At the same time, governments are offered more flexibility to tailor their obligations to sector- or country-specific needs. As a result, commitments vary widely...

The developing countries have to be involved more closely in the international division of labour if they are to be able to play their part in a New International Economic Order. Increased competition in semifinished and finished products and internal substitution processes will pose new...

Overall, decoupling from certain countries may be both politically necessary and economically feasible, at least in the long run. However, a general shift of production back to Europe would be accompanied by significant losses in real income.