Focusses on one particular feature that distinguishes regional trading arrangements from the multilateral trading system : the difference in access by private parties to the dispute-settlement mechanisms of the two arrangements. Explores whether or not the ties offered by regional trade agreements are advantageous relative to the more remote structure of global trade agreements. Concludes that if the benefit of offering private parties greater access to the dispute-resolutions is a rationale for regional trading agreements, then changing the institutional structure of the WTO to provide such access would be superior to pursuing regional agreements.

3/7/00 M2LMGR