FTAs: Stepping Stones or Stumbling Blocks Quiz

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Questions and Answers

Who criticized the notion that FTAs could be aggregated to lead to increasingly multilateralized trading blocks?

  • The proponents of regionalism
  • Singapore
  • Jagdish Bhagwati (correct)
  • APEC

What is the 'spaghetti bowl' referred to in the passage?

  • Differing rules of origin and differences in levels of tariff reduction commitments (correct)
  • Policies of open regionalism espoused by APEC
  • A vision of Singapore for APEC-wide trade area
  • The process of amalgamating FTAs into agreements comprising more parties

What is Jagdish Bhagwati's view regarding the possibility of amalgamating FTAs into agreements comprising more parties?

  • 'Spaghetti bowl' will lead to increasingly multilateralized trading blocks
  • 'Spaghetti bowl' of differing rules makes it unlikely for FTAs to be amalgamated into agreements comprising more parties (correct)
  • 'Spaghetti bowl' will create barriers for regional trade
  • 'Spaghetti bowl' will pave the way for APEC-wide trade area

According to the passage, what do proponents of regionalism argue about FTAs?

<p>FTAs help in creating bigger blocks of liberalization (B)</p> Signup and view all the answers

In what way can regional trade contribute to multilateral trade liberalization, according to the passage?

<p>Through policies of open regionalism such as those espoused by APEC (A)</p> Signup and view all the answers

According to the passage, what is the vision of Singapore regarding its FTAs?

<p>To pave the way for APEC-wide trade area (D)</p> Signup and view all the answers

What is the main purpose of the proposal mentioned in the passage?

<p>To establish substantive criteria for future agreements (B)</p> Signup and view all the answers

What does the term 'grandfathering' provision refer to in the passage?

<p>Allowing agreements to be deemed unchallengeable under certain conditions (C)</p> Signup and view all the answers

According to the passage, what is the primary goal for future agreements as per the proposal?

<p>To determine substantive criteria for consistency with GATT Article XXIV (B)</p> Signup and view all the answers

What is the potential consequence of adopting the 'grandfathering' provision in the proposal?

<p>Deeming existing agreements unchallengeable on 'substantially all the trade' grounds (B)</p> Signup and view all the answers

What would be the impact of reaching consensus on the meaning of 'substantially all the trade' for future agreements?

<p>It would only apply as a matter of course on a prospective basis (B)</p> Signup and view all the answers

What is the primary focus of the proposed suggestion?

<p>To resolve difficulties caused by noncompliant FTAs (D)</p> Signup and view all the answers

What is the significance of having two options for parties to existing agreements as per the proposal?

<p>It provides flexibility for existing agreements to comply with new standards or avail a 'grandfathering' provision (B)</p> Signup and view all the answers

What is the vision of Singapore regarding its FTAs according to the passage?

<p>To adopt an open accession policy for existing agreements (D)</p> Signup and view all the answers

What is the potential consequence of adopting the 'grandfathering' provision in the proposal?

<p>Existing agreements would become unchallengeable on 'substantially all the trade' grounds (D)</p> Signup and view all the answers

26.What is the aim of proposing substantive criteria for future agreements?

<p>To resolve difficulties caused by noncompliant FTAs (A)</p> Signup and view all the answers

According to the passage, what do proponents of regionalism argue about FTAs?

<p>That FTAs lead to increased multilateralized trading blocks (B)</p> Signup and view all the answers

What is the significance of reaching consensus on the meaning of 'substantially all the trade' for future agreements?

<p>It would provide a standard for determining an agreement's consistency with GATT Article XXIV (A)</p> Signup and view all the answers

What is Jagdish Bhagwati's view regarding the possibility of amalgamating FTAs into agreements comprising more parties?

<p>It is not feasible and criticized by proponents of regionalism (D)</p> Signup and view all the answers

What is the aim of having two options for parties to existing agreements as per the proposal?

<p>'Grandfathering' provision provides flexibility for existing agreements (A)</p> Signup and view all the answers

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