The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the view of the World Bank, its Executive Directors, or the countries they represent.
An important debate is under way among the countries of the world about the relative merits of pursuing regionalism through preferential trading arrangements versus more outward-oriented approaches to expanding trade. This debate has significant implications not only for food security but also for other dimensions of economic welfare and poverty alleviation in developing countries. Under the aegis of the General Agreement on Tariffs and Trade (GATT) and the new World Trade Organization (WTO), most countries have been moving toward general liberalization of trade policies and practices in recent years. At the same time, regional trading blocs-most prominently the "single market" of the European Union and the North American Free Trade Agreement among Canada, Mexico, and the United States-have also grown in importance. These blocs pose a possible challenge to the WTO's objective of global free trade. "A 2020 Vision for Food, Agriculture, and the Environmentö is an initiative of the International Food Policy Research Institute (IFPRI) to develop a shared vision and a consensus for action on how to meet future world food needs while reducing poverty and protecting the environment. Through the 2020 Vision initiative, IFPRI is bringing together divergent schools of thought on these issues, generating research, and identifying recommendations. The 2020 Briefs present information on various aspects of the issues."
IMF WORKING PAPER• '. 1990 International Monetary Fund 0440 Thi> is. .1 'AOrkin^ paper and the auihor wi >u!'if issuance hv the lnternditon.il Mnnef.irv fund The views cxprt'sscil jrc (hose nf ihe author jnd do nut necessarily represent those ol ihe Furid
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