The “Constitution” of Global Capitalism : GATS Selime Güzelsarı World Trade Organization (WTO), which can be seen as the new regulatory institution of capitalism at the international level, has acted like an intermediary institution for capital since 1995 by creating agreements. Among these, General Agreements on Trade in Services (GATS) has emerged as the first constitutional multi-lateral agreement in the area of international trade in services. In this article, GATS will be examined by questioning three main points: the meaning of liberalization of trade in services with special reference to public services; the dynamics of GATS/WTO; and the reflections of GATS on the relations both between nation-states and between capital and labor.