The Rise of Sovereignty Fears

History Knows Where It’s Going”, exulted the April 15 full-page ad in the New York Times. Dates and names preceded: “1944, Bretton Woods: The IMF and the World Bank.” “1945, San Francisco: The United Nations.” “1994, Marrakech: The World Trade Organization.” Marrakech had just given birth, said the ad, to …

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