Many people now believe that we are entering a dramatic new phase of world history in which for the first time ever, all societies of the Earth share an approximate common goal - prosperity through free trade and free market capitalism. Others argue that we are heading for a crushing form of globalism and that free trade will be a disaster. Graham Dunkley critically analyses the Uruguay Round of GATT as a whole and focuses on some key protection reduction, services and intellectual property liberalisation, the environment, the Third World and globalisation.