The processes of legal and economic integration at a regional and global scale have created powerful legal and economic dilemmas. The essays in this collection written by leading scholars in international trade law argue the pros and cons of greater regional and global regulation. They conclude that whatever the final framework for international trade, the critical decisions about institutional form and content will be decided in an emerging global political arena. They help to identify this political arena, who governs it, and according to which rules, and identify the different institutional alternatives in that global political arena.