Abstract

The "globalizing" of corporations and economies, the shifts in world trade to regional trading blocs, and the uneven distribution of the fruits of trade require the operation of a new regime of fair trade. This, in turn, necessitates changes in the debt program of the IMF and World Bank and the full development of the new, post-GATT World Trade Organization to foster this fairness. If the necessary reforms are not made, the author warns, the result will be political instability, economic disadvantage, and ecological perils that will engulf the prosperous as well as the poor.