Realism , Liberalism , Values , and the World Trade Organization Philip

* Ronald Koenig Term Assistant Professor of Legal Studies, The Wharton School of the University of Pennsylvania. A.B., Harvard University; J.D., LL.M. (foreign and international law), Duke University. 1 The World Trade Organization came into existence on January 1, 1995. It was the culmination of over seven years of multilateral trade negotiations known as the Uruguay Round. The Uruguay Round constituted the most ambitious and most complex trade negotiations ever undertaken. See Arthur Dunkel, 'Trade Policies for a Better Future' and the Uruguay Round, in TRADE POLICIES FOR A BETTER FUTURE: THE "LEUTWILER" REPORT, THE GATT, AND THE URUGUAY ROUND 1, 1 (1987) (describing the Uruguay Round as "the most far-reaching, comprehensive and significant multilateral trade negotiation ever undertaken"). For an excellent history of the Uruguay Round, see JOHN CROOME, RESHAPING THE WORLD TRADING SYSTEM: A HISTORY OF THE URUGUAY ROUND (1995). 2 See, e.g., Kenneth W. Abbott, The Uruguay Round and Dispute Resolution: Building a Private-Interests System of Justice, 1992 COLUM. BUS. L. REv. 111 (1992); Claudio Cocuzza & Andrea Forabosco, Are States Relinquishing Their Sovereign Rights? The GATT Dispute Settlement Process in a Globalized Economy, 4 TUL. J. INT'L & COMP. L. 161 (1996); Steven P. Croley & John H. Jackson, WFO Dispute Procedures, Standard of Review, and Deference to National Governments, 90 AM. J. INT'L L. 193 (1996); Thomas J. Dillon, Jr., The World Trade Organization: A New Legal Order for World Trade?, 16 MICH. J. INT'L L. 349 (1995); Jeffrey L. Dunoff, Institutional Misfits: The GATT, the ICJ, & Trade-Environment Disputes, 15 MICH. J. INT'L L. 1043 (1994); David A. Gantz, A Post-Uruguay Round Introduction to International Trade Law in the United States, 12 ARIz. J. INT'L & COMP. L. 7, 129 (1995); David W. Leebron, An Overview of the Uruguay Round Results, 34 COLUM. J. TRANSNATL L. 11, 14-16 (1995); Andreas F. Lowenfeld, Remedies Along With Rights: Institutional Reform in the New GATT, 88 AM. J. INT'L L. 477 (1994); Curtis Reitz, Enforcement of the General Agreement on Tariffs and Trade, 17 U. PA. J. INT'L ECON. L. 555 (1996); Michael K. Young, Book Review, 90 AM. J. INT'L L. 160 (1996) (reviewing YuJI IWASAWA, WTO NO FUNSO SHORI [The Dispute Settlement of the World Trade Organization]).