Warnings that a breakdown in multilateral trade liberalization would bring about an upsurge in protectionist sentiment, the possible collapse of the multilateral trading system and, in the most doomsday of scenarios, the fragmentation of the global economy have been an intrinsic part of trade negotiations since the General Agreement on Tariffs and Trade (GATT) was first negotiated. What is seldom acknowledged, however, is the role that this language of crisis and collapse – what might be called a ‘crisis discourse’ – has had on framing trade negotiations and in maintaining forward momentum in the liberalization process. This discourse has played a role in facilitating the kind of institutional development that the GATT and the World Trade O...