The rapid growth in the number of regional trade agreements (RTAs) has led to concern about the weakening of the multilateral trading system. This paper looks at the spread of such agreements and the extent which they pose a threat to the system.

As it approached the end of the 20th Century the multilateral trading system appeared to be on a high point. The WTO was in operation for five years, 50 years after the GATT had provided a stop-gap measure for the ill-fated ITO. With the failure of Seattle, the WTO begins the 21st Century with...