... Kennedy Round in the mid-sixties brought about a GATT Anti-Dumping Agreement and a section on development. The Tokyo Round during the 1970s was the first major attempt to tackle trade barriers that do not take the form of tariffs and to improve the system. The eighth, the Uruguay Round (1986-94), was the last and most extensive of all. It led to the creation of a legal institution, the World Trade Organization (WTO), in order to replace the provisional GATT, and a new set of agreements. In order to assess the achievements of the rules-based system of world trade over the past years, this essay will first deal with the General Agreement on Tariffs and Trade and its weaknesses, then with the GATT rounds and its both positive and negative achievements, and finally focuse on the changing international environment that occurred since the last decade. As highlighted by N. Grimwade ...

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