The relative openness of financial markets at the time, at least in the developed world, made the need for change less obvious. It seemed worthwhile to embark on multilateral negotiations only if the results promised something better than what was already there. And a key element in the calculus was how far developing countries would join in the negotiations.
Two conflicting approaches - the high ambitions of some developed countries and the nervous caution of developing countries - are reflected in the long history of the negotiations and in the GATS itself.