re: #185 KGxvi

Given his repeated trips to bankruptcy courts, you’d think he’d be used to negotiating a multilateral deal.

On a serious note, the bilateral approach would have made sense in the 19th century. But for the last century or so, the international community has been building international trade law through multilateral agreements and institutions like the WTO. Having so many different agreements, potentially with varying terms, would be foolish, I think.

Imagine how excited small to medium sized businesses that trade internationally will be having to deal with 5 different arrangements when they import and export stuff.
(I assume large multinationals can afford the staff to deal with it.)