Journals Proceedings

Abstract

Any discussion on the subject of globalisation and trade will inevitably involve consideration of a possible method of ensuring that the international trading system gets the most out of the globalisation. Such a scenario will entail discussing international trade activity against the backdrop of globalisation, and more importantly attaining the objective/s of such activity. This paper will commence by discussing the phenomenon called globalisation, to understand what it is and what if any are the potential benefits from it. An analysis into whether globalisation is delivering what it is expected to, and if not why is it not able to, will be undertaken. There are strong arguments that globalisation, especially in the context of international trade need regulation for it to be a positive element. The result of this analysis will then lead to a consideration of international trade theories and philosophies to ascertain the objectives of engaging in international trade activity. The outcome of this examination will then be tested against historical experiences in the international trading order to verify what slant such regulation should undertake in order to achieve the objectives of international trade as informed by the philosophies and theories of international trade and its regulation.