Safeguard Measures in World Trade

Safeguard Measures in World Trade

The Legal Analysis, Third Edition

Yong-Shik Lee

Safeguard Measures in World Trade tackles the controversial issue of restrictions on imports. Professor Yong-Shik Lee skillfully argues that Safeguards interfere substantially with the normal stream of trade, and their improper application undermines the objectives of the World Trade Organization (WTO).

Chapter 15: Future perspective and conclusion

Yong-Shik Lee

Subjects: law - academic, international economic law, trade law


The final chapter concludes this book with some thoughts about the future perspective of safeguards. The first part of the chapter provides a discussion of the relations between the current safeguard mechanism and the economic development of developing countries and the need for modification to better serve development interests. The next part addresses growing problems of anti-dumping measures in world trade and presents the case for the replacement of the archaic anti-dumping mechanism with safeguards. Conclusions are provided at the end of this chapter. Despite the unprecedented economic and technological developments in the 20th century, the majority of the world population has not received the benefit of this prosperity and still lives in poverty. Thus, many would agree that the improvement of the economic condition of developing countries is indeed an important task of our time. This improvement is possible through economic development, and international trade is significantly relevant to the economic development of developing countries. In particular, the economic effect of trade measures has long been a subject of substantial academic discussion.To assist with the economic development of developing countries as proclaimed in WTO disciplines described below, it is important to evaluate the current legal framework of international trade to determine whether it enables developing countries to adopt effective development policies to improve their economy. The GATT/WTO expresses its support for the economic development of developing countries through expansion of their share in international trade.

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