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Synopsis World Trade Organisation (WTO) is a catalyst and harbinger of rule based international trading system, global peace, prosperity and equity distribution. This timely book assesses the counter-hegemonic role of WTO to weed out protectionism, unilaterialism and monopolisation over international trade and market. WTO is a significant step for pulling out the developing countries from the paradoxical rapture of 'no rule situation' on access to the international market, ensuring their comparative advantages and better competitive environment. The book explores the controversy behind the conclusion of the WTO in its histroical perspective. Primarily written from the developing countries point of view, it takes into account the other major economic events, viz., the birth of the UNCTAD, Resolutions of NIEO and the Generalised Scheme of Preferences, and the growing importance of developing countries in the world trade particularly of the newly industrialising countries (NICs), whose role in the world trade became increasingly vital from the 1970's. Unlike to the Orthodox, sceptics and chauvinist the book favours multilateralism and harmonisation of international trade rule. Though, it recognises WTO as both opportunity and risk to DCs, particularly to the LDCs, the Book optimistically argues that the rule based system and effective mechanism of WTO ensures opportunities to them. The learned author argues that the major challenge posed to DCs and LDCs is no more the extraneous one, rather it is their own counterproductive and eu-functional structural functional pattern of state and government. In this regard the Book pleads for 'post modernist' and 'effective state' to procure benefit from multilateral trading system.