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.
The world is increasingly divided into trade blocs, which play a central role in international trade negotiations. If world trade talks fail, many observers believe regional groupings will play an even bigger role. Click below to learn more about the main blocs: APEC.