“They might not want to, but won’t have much of a choice if they want to continue their development paths.”

That depends on how fast the bilateral agreements can be put into place.

Further, I’d argue that bilateralism contains a rather substantial benefit; if the agreement seems to not be working as designed in the opinion of one (or both) of the parties, it can be discussed and renegotiated without having to involve and/or gauge the impact of the renegotiation on a dozen other counterparties.

A lack of flexibility increases risk in any agreement.

Written by

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store