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.
Disputes in arbitration can be resolved by a single arbitrator or a panel of three arbitrators (tribunal). When parties submit their dispute to arbitration, they agree to be bound by and comply with the arbitratorâs decision, also called an award.