universalism. 1  universal character; universality. 2  a universal range of knowledge, interests, or activities. ( 3 initial capital letter) the doctrine that emphasizes the universal fatherhood of God and the final salvation of all souls. Compare apocatastasis (def 2).
The World Trade Organization, an institution that arbitrates trade disputes. Strategic Trade Policies Policies designed to get more of the benefits from trade in a country than would exist under free trade.
According to some G20 members, including China, India, South Africa and Brazil, the European Unionâs decision to engage in trade talks with Mercosur is a stratagem to undermine the G20, an organization that could potentially cause serious problems for both the EU and the United States.