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.
Trading blocs. A regional trading bloc is a group of countries within a geographical region that protect themselves from imports from non-members.Trading blocs are a form of economic integration, and increasingly shape the pattern of world trade.There are several types of trading bloc:referential Trade Areas (PTAs) exist when countries within a geographical region agree to reduce or eliminate tariff barriers on selected goods imported from other members of the area. This is often the first small step towards the creation of a trading bloc.