FTAs: Stepping Stones or Stumbling Blocks Quiz

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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?

FTAs help in creating bigger blocks of liberalization Signup and view all the answers

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

Through policies of open regionalism such as those espoused by APEC Signup and view all the answers

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

To pave the way for APEC-wide trade area Signup and view all the answers

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

To establish substantive criteria for future agreements Signup and view all the answers

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

Allowing agreements to be deemed unchallengeable under certain conditions Signup and view all the answers

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

To determine substantive criteria for consistency with GATT Article XXIV Signup and view all the answers

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

Deeming existing agreements unchallengeable on 'substantially all the trade' grounds 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?

It would only apply as a matter of course on a prospective basis Signup and view all the answers

What is the primary focus of the proposed suggestion?

To resolve difficulties caused by noncompliant FTAs Signup and view all the answers

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

It provides flexibility for existing agreements to comply with new standards or avail a 'grandfathering' provision Signup and view all the answers

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

To adopt an open accession policy for existing agreements Signup and view all the answers

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

Existing agreements would become unchallengeable on 'substantially all the trade' grounds Signup and view all the answers

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

To resolve difficulties caused by noncompliant FTAs Signup and view all the answers

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

That FTAs lead to increased multilateralized trading blocks Signup and view all the answers

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

It would provide a standard for determining an agreement's consistency with GATT Article XXIV Signup and view all the answers

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

It is not feasible and criticized by proponents of regionalism Signup and view all the answers

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

'Grandfathering' provision provides flexibility for existing agreements Signup and view all the answers

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?

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

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

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

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

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

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

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

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

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

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

What is the primary focus of the proposed suggestion?

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

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

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

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

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

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

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

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

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