If Lester Thurow is right in suggesting that GATT is "dead," how will international trading relationships develop during the rest of this century? In an era of improving communications and rapid economic development, companies' investment, marketing, and sourcing strategies are becoming increasingly global rather than national or even regional. The international trading system is therefore of central interest not only to governments but also to companies - if it were to become unpredictable, it could wreak havoc with much of their strategic planning.