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 EU has become the most powerful trading bloc in the world with a GDP nearly as large as that of the United States. It is also the largest importer of agricultural products from developing countries, and maintains close links to its former colonies in the ACP group through trade preferences and aid deals.he 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.