The world trade system and the Uruguay Round: Global employment implications

The Uruguay Round was the most ambitious and far-reaching of all the GATT rounds. Quantitative assessments estimate that globally it will result in net benefits of at least US$200 billion per annum. Less work has been done on the employment effects. The authors explain the links between trade, trade policy and employment and identify the factors which will shape the effects of the Uruguay Round. They also assess the adjustment consequences of trade expansion and the implications of the Round for adjustment policy.