This is the fifteenth volume in an annual series in which leading economists provide a concise and accessible evaluation of major developments in trade and trade policy. * Examines key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level * Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews * Analyses trade policy in areas such as Japan, Indonesia, Israel and the United Arab Emirates * Investigates the challenge of aligning the mission, means and legitimacy of international organisations * Contributors including John Walley and Jan Aart Scholte also examine the concept of globalisation - both its definition and its values * A vital resource for researchers, analysts and policy-advisors interested in trade policy and other open economy issues