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Misadventures of the Most Favored Nations: Clashing Egos, Inflated Ambitions, and the Great Shambles of the World Trade System
As a linchpin of global capitalism, the World Trade Organization is both revered and reviled. In this book, financial journalist Paul Blustein tells the surprisingly entertaining and compelling story of how the WTO is sliding into dysfunctionality—which poses a new and grave menace to globalization itself. In more than seven years of global talks the WTO has struggled and failed to resolve contentious differences between rich and developing nations. Now, with a worldwide recession underway, the WTO's failure is contributing to a rise in protectionism—a sign that the world may not be so flat after all. Misadventures of the Most Favored Nations recounts, in vivid detail, how the highstakes negotiations went awry. At risk, Blustein argues, is the fate of the system that for six decades has opened the global economy and kept it from splintering.
- GenresEconomicsNonfiction
368 pages, Hardcover
First published January 1, 2009
About the author
Paul Blustein
10 books43 followersPaul Blustein has written about economic issues for more than 40 years. A graduate of the University of Wisconsin and Oxford University, where he was a Rhodes Scholar, Paul spent most of his career reporting for The Washington Post and The Wall Street Journal. He is currently a Senior Fellow at the Centre for International Governance Innovation.
Paul's books have received critical acclaim from leading publications including The Economist, Financial Times, Foreign Affairs, and the New York Review of Books. He especially loves hearing from professors and college students that his books help make complex economic subjects interesting and intelligible. A resident since 2010 of Kamakura, Japan, where he lives with his wife, Yoshie Sakai, he is the father of four children and in 2018 attained his most cherished status yet--grandpa.
Paul's books have received critical acclaim from leading publications including The Economist, Financial Times, Foreign Affairs, and the New York Review of Books. He especially loves hearing from professors and college students that his books help make complex economic subjects interesting and intelligible. A resident since 2010 of Kamakura, Japan, where he lives with his wife, Yoshie Sakai, he is the father of four children and in 2018 attained his most cherished status yet--grandpa.
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Displaying 1 - 10 of 10 reviews
April 28, 2018
This is a book about something that didn't happen. It explains how the Doha Development Round, inaugurated by the World Trade Organization in late December 2001, came a cropper, and thus it also tries to explain why the 21st century world has had such problems liberalizing trade rules.
Most of this story revolves around a few frustrated trade negotiators: Robert Zoellick, the workaholic US Trade Representative with the indefatigable belief in negotiations and give-and-take; Robert Portman, his replacement, the courtly former US congressman who longed for personal connections; Pascal Lamy, the European Union Trade Representative whose quiet rectitude later earned him the position of WTO director general; and Kamal Nath, the Indian Trade Representative, whose ceaseless politicizing and opposition to agricultural liberalization does more to stymie the trade round than anything else.
These characters are interesting and well drawn, but hardly larger than life, and one wonders throughout the book if any series of personalities could have squared the circle and found exactly the right mix of policies to complete the trade round. The problem was that manufactured goods tariffs have been reduced in the developed world to almost nothing, while the developing world has received a host of exemptions and special privileges that allows them access to Europe and the United States while opening up little in return, and thus give them little incentive to negotiate. The Doha Round, therefore, focused on truly difficult questions, mostly agricultural tariffs and subsidies, which few nations wanted to reduce in practice. Zoellick and his successors agreed to lower the "bound" rate of US subsidies from about $21 billion to $15 billion (the bound rate is the agreed rate at which the US could raise subsidies, but by 2008 actual US "applied" subsidies had fallen to $8 billion), Lamy and the Europeans had agreed to end agricultural export subsidies, and the developed world in general had agreed to do something about lowering tariffs on cotton, which agricultural exporter Brazil and West Africa were particularly keen on. Yet the Indians were terrified about any opening of agricultural tariffs. With 70% of their population in the countryside they foresaw massive social disruption from free trade, even if it would give their people cheap food and clothing. So, despite a minor breakthrough of creating a "framework" for future liberalization, with general end goals for the round, in Geneva in 2004 (in WTO-speak, the process goes: announcement of a round, framework, creation of "modalities" or general number ranges for tariffs and subsidies, and, supposedly, completion), nothing else had happened by the time the book was published in 2009. And the author was right to be suspicious. Here we are in 2018 and the Doha round seems as good as dead.
Blustein faults Zoellick for pursuing a host of bilateral free trade deals outside of the WTO, deals that only liberalized trade with countries taking 11% of US exports, usually smaller countries like Panama and the Dominican Republic. According to people like economist Jagdish Bhagwati, this only increased the "spaghetti bowl" complexity of rules for traders, while undermining the desire of all countries to focus on the multilateral trade rounds through the WTO that did the most good. Yet after reading this book, it's not hard to see that the era of worldwide trade "rounds" might be over. The low-hanging fruit has been picked, there are too many players at the table now (147 WTO member countries), and the future might indeed lie in gradual bilateral and group liberalization and protecting what has already been gained. Such deals may be all that can be expected at this point in world history.
Most of this story revolves around a few frustrated trade negotiators: Robert Zoellick, the workaholic US Trade Representative with the indefatigable belief in negotiations and give-and-take; Robert Portman, his replacement, the courtly former US congressman who longed for personal connections; Pascal Lamy, the European Union Trade Representative whose quiet rectitude later earned him the position of WTO director general; and Kamal Nath, the Indian Trade Representative, whose ceaseless politicizing and opposition to agricultural liberalization does more to stymie the trade round than anything else.
These characters are interesting and well drawn, but hardly larger than life, and one wonders throughout the book if any series of personalities could have squared the circle and found exactly the right mix of policies to complete the trade round. The problem was that manufactured goods tariffs have been reduced in the developed world to almost nothing, while the developing world has received a host of exemptions and special privileges that allows them access to Europe and the United States while opening up little in return, and thus give them little incentive to negotiate. The Doha Round, therefore, focused on truly difficult questions, mostly agricultural tariffs and subsidies, which few nations wanted to reduce in practice. Zoellick and his successors agreed to lower the "bound" rate of US subsidies from about $21 billion to $15 billion (the bound rate is the agreed rate at which the US could raise subsidies, but by 2008 actual US "applied" subsidies had fallen to $8 billion), Lamy and the Europeans had agreed to end agricultural export subsidies, and the developed world in general had agreed to do something about lowering tariffs on cotton, which agricultural exporter Brazil and West Africa were particularly keen on. Yet the Indians were terrified about any opening of agricultural tariffs. With 70% of their population in the countryside they foresaw massive social disruption from free trade, even if it would give their people cheap food and clothing. So, despite a minor breakthrough of creating a "framework" for future liberalization, with general end goals for the round, in Geneva in 2004 (in WTO-speak, the process goes: announcement of a round, framework, creation of "modalities" or general number ranges for tariffs and subsidies, and, supposedly, completion), nothing else had happened by the time the book was published in 2009. And the author was right to be suspicious. Here we are in 2018 and the Doha round seems as good as dead.
Blustein faults Zoellick for pursuing a host of bilateral free trade deals outside of the WTO, deals that only liberalized trade with countries taking 11% of US exports, usually smaller countries like Panama and the Dominican Republic. According to people like economist Jagdish Bhagwati, this only increased the "spaghetti bowl" complexity of rules for traders, while undermining the desire of all countries to focus on the multilateral trade rounds through the WTO that did the most good. Yet after reading this book, it's not hard to see that the era of worldwide trade "rounds" might be over. The low-hanging fruit has been picked, there are too many players at the table now (147 WTO member countries), and the future might indeed lie in gradual bilateral and group liberalization and protecting what has already been gained. Such deals may be all that can be expected at this point in world history.
July 26, 2011
A great anecdotal account of the evolution of trade agreements (read: disputes) through the Doha round. It is particularly strong in showing the human element and operates as a very easy introduction to the international trade landscape.
September 3, 2024
É um livro muito bom!
O autor conta as histórias da Organização Mundial do Comércio (OMC) com uma riqueza de detalhes e com um toque de humor que são realmente incríveis. Na verdade, a história tem seu início até mesmo antes de existir uma OMC: começa com o GATT (Acordo Geral de Tarifas e Comércio).
Pontos históricos de discórdia, de progresso, de conflito e superação perpassam o livro conforme o desfile de personalidades e egos conduzem as diferentes cenas. Os detalhes de "bastidores" tornam esse livro muito mais divertido do que um simples livro técnico e acadêmico sobre esta organização mundial. Assim, o ponto de vista do autor e a opção por um relato mais "irreverente" foi um sucesso para minha boa percepção do livro.
Pude me deleitar enquanto pessoa apaixonada pelas relações internacionais (embora meio "fora de forma" por não a acompanhar tão bem quanto antes) na leitura em comento. Porém, vi que a vida de negociadores de comércio internacional não é nada fácil. São longos dias e longas noites de reuniões sobre temas intermináveis nos quais não se vislumbra a possibilidade de acordos entre os países. Às vezes, os acordos não são firmados porque os Estados são soberanos e sempre farão o que é melhor para a sua população; às vezes, digamos que o ego do responsável pela negociação não ajuda, além de outras questões de bastidores. Também pude ter a noção de como as coisas podem ser pessoais embora os debates ocorram em uma arena de proporções internacionais. Ainda, pude concluir que os debates requerem altos graus de paciência, empatia, respeito, perseverança e autoafirmação. É realmente uma esfera de relações sociais complexas - uma vez que os Estados são formados por pessoas e quem comanda as negociações são os nacionais dos países.
O último capítulo ("Se pelo menos houvesse um jeito melhor") foi um espetáculo de análise à parte por parte do autor, embora os outros capítulos tenham sido também excelentes. Destaque especial para os nomes dos capítulos que deixam o leitor se perguntando ao que se referem e o deixam curioso para entender o porquê.
Fui pesquisar sobre a Rodada Doha e, para minha grande surpresa, ela continua operante ainda em 2024!! O autor já criticava a morosidade no livro de 2011 que tenho em mãos... Imagina em 2024? Realmente empacou no meio do caminho... Nunca fui uma das grandes defensoras da globalização por ser brasileira e ter o ponto de vista do Brasil como país em desenvolvimento em muitos assuntos, porém reconheço que muitos de nossos avanços se devem a esse intercâmbio mundial e que ele é necessário. Ainda, considero como louvável uma esfera como a OMC onde todos os países teoricamente têm a mesma força através de votos e onde reuniões multilaterais podem ocorrer, nas quais as questões de cada país são levadas em consideração - pelo menos na teoria. Mesmo com minhas apontadas ressalvas, creio que um mundo sem a OMC seria muito pior do que com ela, assim, torço para o seu desenvolvimento e sucesso, apesar da análise pragmática e um pouco pessimista colocada como alerta no livro.
Minha nota final foi 4,5 estrelas. O meio ponto retirado foi porque, nos capítulos finais do livro, o autor fez um trabalho muito bom em copiar a dinâmica da OMC: altas expectativas criadas, conversas infindáveis, posições irredutíveis, explosões de raiva, decepções - e o ciclo se repete muitas vezes. Elogio o autor no quão verossímil a escrita foi da realidade; porém, isso tornou o livro um pouco moroso, cansativo e eu não aguentava mais ver decepção na minha frente, então, acabou me irritando. Foi uma visão pessoal minha ao ler, pode ser que não incomode a todos.
Para quem não tem paciência para detalhes de reuniões morosas, nem se interessa em assuntos internacionais, creio que este livro não agradará muito. Porém, para quem gosta de saber como negociações em âmbito global ocorrem, assim como seus detalhes suculentos de bastidores, este livro é uma ótima pedida! Realmente cumpre o que promete, recomendo!
O autor conta as histórias da Organização Mundial do Comércio (OMC) com uma riqueza de detalhes e com um toque de humor que são realmente incríveis. Na verdade, a história tem seu início até mesmo antes de existir uma OMC: começa com o GATT (Acordo Geral de Tarifas e Comércio).
Pontos históricos de discórdia, de progresso, de conflito e superação perpassam o livro conforme o desfile de personalidades e egos conduzem as diferentes cenas. Os detalhes de "bastidores" tornam esse livro muito mais divertido do que um simples livro técnico e acadêmico sobre esta organização mundial. Assim, o ponto de vista do autor e a opção por um relato mais "irreverente" foi um sucesso para minha boa percepção do livro.
Pude me deleitar enquanto pessoa apaixonada pelas relações internacionais (embora meio "fora de forma" por não a acompanhar tão bem quanto antes) na leitura em comento. Porém, vi que a vida de negociadores de comércio internacional não é nada fácil. São longos dias e longas noites de reuniões sobre temas intermináveis nos quais não se vislumbra a possibilidade de acordos entre os países. Às vezes, os acordos não são firmados porque os Estados são soberanos e sempre farão o que é melhor para a sua população; às vezes, digamos que o ego do responsável pela negociação não ajuda, além de outras questões de bastidores. Também pude ter a noção de como as coisas podem ser pessoais embora os debates ocorram em uma arena de proporções internacionais. Ainda, pude concluir que os debates requerem altos graus de paciência, empatia, respeito, perseverança e autoafirmação. É realmente uma esfera de relações sociais complexas - uma vez que os Estados são formados por pessoas e quem comanda as negociações são os nacionais dos países.
O último capítulo ("Se pelo menos houvesse um jeito melhor") foi um espetáculo de análise à parte por parte do autor, embora os outros capítulos tenham sido também excelentes. Destaque especial para os nomes dos capítulos que deixam o leitor se perguntando ao que se referem e o deixam curioso para entender o porquê.
Fui pesquisar sobre a Rodada Doha e, para minha grande surpresa, ela continua operante ainda em 2024!! O autor já criticava a morosidade no livro de 2011 que tenho em mãos... Imagina em 2024? Realmente empacou no meio do caminho... Nunca fui uma das grandes defensoras da globalização por ser brasileira e ter o ponto de vista do Brasil como país em desenvolvimento em muitos assuntos, porém reconheço que muitos de nossos avanços se devem a esse intercâmbio mundial e que ele é necessário. Ainda, considero como louvável uma esfera como a OMC onde todos os países teoricamente têm a mesma força através de votos e onde reuniões multilaterais podem ocorrer, nas quais as questões de cada país são levadas em consideração - pelo menos na teoria. Mesmo com minhas apontadas ressalvas, creio que um mundo sem a OMC seria muito pior do que com ela, assim, torço para o seu desenvolvimento e sucesso, apesar da análise pragmática e um pouco pessimista colocada como alerta no livro.
Minha nota final foi 4,5 estrelas. O meio ponto retirado foi porque, nos capítulos finais do livro, o autor fez um trabalho muito bom em copiar a dinâmica da OMC: altas expectativas criadas, conversas infindáveis, posições irredutíveis, explosões de raiva, decepções - e o ciclo se repete muitas vezes. Elogio o autor no quão verossímil a escrita foi da realidade; porém, isso tornou o livro um pouco moroso, cansativo e eu não aguentava mais ver decepção na minha frente, então, acabou me irritando. Foi uma visão pessoal minha ao ler, pode ser que não incomode a todos.
Para quem não tem paciência para detalhes de reuniões morosas, nem se interessa em assuntos internacionais, creio que este livro não agradará muito. Porém, para quem gosta de saber como negociações em âmbito global ocorrem, assim como seus detalhes suculentos de bastidores, este livro é uma ótima pedida! Realmente cumpre o que promete, recomendo!
April 26, 2026
Un libro molto interessante che mi ha intriso di una rinnovata curiosità di scoprire il mondo del commercio internazionale e delle leggi che lo circondano.
La diplomazia é una delle pratiche più complicate che esistano e questo libro lo mostra bene, sopratutto in ambito multilaterale trovare il giusto equilibrio risulta essere un’impresa.
Viva la WTO.
La diplomazia é una delle pratiche più complicate che esistano e questo libro lo mostra bene, sopratutto in ambito multilaterale trovare il giusto equilibrio risulta essere un’impresa.
Viva la WTO.
March 10, 2019
Not as good or riveting as The Chastening but a great introduction and narrative of the WTO and all its faults and successes.
September 25, 2014
I LOVED this book!
Blustein’s book gave a human element to the quite arcane World Trade Organisation. I’ve read quite a fair bit on the WTO and this is by far one of the best introduction books. He takes the tedious subject of international trade and all the complex innards that make up the WTO and injects much needed vitality into it.
Trade negotiations are tedious processes riddled with acronyms and complex legal and trade jargon that it is impossible to not be totally put off by the subject unless it is of personal use to you. So obviously it was of personal use to me and mentioned people that I admire on a professional level.
Blustein’s anecdotal accounts of people who were directly involved in the WTO trade negotiations and character studies were very interesting and insightful…especially on how these individuals participated in these negotiations and how dysfunctional this process was at times.
Thank you Blustein for giving a human face to the WTO, and its agreements, and reminding us how the WTO is run by countries (and blocks of countries) with economics of scale.
Blustein’s book gave a human element to the quite arcane World Trade Organisation. I’ve read quite a fair bit on the WTO and this is by far one of the best introduction books. He takes the tedious subject of international trade and all the complex innards that make up the WTO and injects much needed vitality into it.
Trade negotiations are tedious processes riddled with acronyms and complex legal and trade jargon that it is impossible to not be totally put off by the subject unless it is of personal use to you. So obviously it was of personal use to me and mentioned people that I admire on a professional level.
Blustein’s anecdotal accounts of people who were directly involved in the WTO trade negotiations and character studies were very interesting and insightful…especially on how these individuals participated in these negotiations and how dysfunctional this process was at times.
Thank you Blustein for giving a human face to the WTO, and its agreements, and reminding us how the WTO is run by countries (and blocks of countries) with economics of scale.
August 30, 2010
Provocative, detailed presentation of the impact of world trade
Veteran journalist Paul Blustein blames half the 2008 economic meltdown – the non-Wall Street half – on dysfunctional global trade policies, and then he explains why. World trade is an arcane topic, complete with mysterious acronyms, complex rules, and negotiators with huge egos and serpentine negotiating positions pushed by antagonistic nations. In an increasingly global economy, trade negotiations are never simple. Even so, Blustein manages to tell this provocative, complex, depressing story as engagingly as possible. At times the book bogs down in negotiating points that only trade technocrats will appreciate, but Blustein fleshes out the story by capturing the quirky, sometimes volatile, personalities involved. Accordingly, getAbstract recommends his book to those who can’t get enough about world trade. If you want all the ins and outs, you’ll be very happy here.
To learn more about this book, check out the following link: http://www.getabstract.com/summary/12...
Veteran journalist Paul Blustein blames half the 2008 economic meltdown – the non-Wall Street half – on dysfunctional global trade policies, and then he explains why. World trade is an arcane topic, complete with mysterious acronyms, complex rules, and negotiators with huge egos and serpentine negotiating positions pushed by antagonistic nations. In an increasingly global economy, trade negotiations are never simple. Even so, Blustein manages to tell this provocative, complex, depressing story as engagingly as possible. At times the book bogs down in negotiating points that only trade technocrats will appreciate, but Blustein fleshes out the story by capturing the quirky, sometimes volatile, personalities involved. Accordingly, getAbstract recommends his book to those who can’t get enough about world trade. If you want all the ins and outs, you’ll be very happy here.
To learn more about this book, check out the following link: http://www.getabstract.com/summary/12...
Read
March 30, 2011I happened upon this book when I stopped by NYPL's Science, Business, and Industry Library and thought it could be interesting and it'd be good for me to know more about world politics. Also, whenever I read stories that cover this type of thing in the New Yorker, I can really get into them, so I thought it'd be like an extended version of that. I kept trying, but I just couldn't really get into this. I don't think it's because the book is bad, but because this is not so much a personal interest as it was something I felt I should read. I made it about halfway through and gleaned some interesting facts, but in the end, I think I'd be better off with the cliff notes rather than an in-depth look into all of the back-slapping or head-butting of the people involved.
April 2, 2010
A nice solid Bluhstein book.
March 8, 2016
A remarkably clear, readable account of the World Trade Organization and why the Doha Round has gone round and round.
Displaying 1 - 10 of 10 reviews