There's one bit of jargon in Bellow's article that I'd appreciate help on, "bound." Can someone tell me what the last sentence in the paragraph below means?
Thanks,
Michael
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The 1979 Framework Agreement known as the Enabling Clause [of the GATT] also provided a permanent legal basis for General System of Preferences (GSP) schemes that would provide preferential access to developing country exports. A signficant shift occurred in the Uruguay Round. GSP schemes were not bound, meaning tariffs could be raised against a develping country until they equalled the bound rates applied to imports for all sources.
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__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com