1. The World Trade Organization: An Optimistic Pre-Mortem in Hopes of Resurrection
- Author:
- Dmitry Grozoubinski
- Publication Date:
- 08-2020
- Content Type:
- Working Paper
- Institution:
- Lowy Institute for International Policy
- Abstract:
- In the midst of a pandemic and escalating global protectionism, the WTO's paralysed dispute settlement system, largely immobilised negotiations, and chronically underutilised monitoring and compliance function, are groaning under the weight of trade tensions, unilateralism, and neglect. Technical work in Geneva is part of the solution, but is insufficient on its own to resolve the Organization’s short- and long-term problems. Political leaders who still believe in the wisdom of predictable, rules-based trade must build coalitions to expand that structure, while forcing the difficult conversations about what a WTO acceptable to the major powers looks like, and investing in the painstaking rebuilding of business and civil society engagement with trade policy.
- Topic:
- International Trade and Finance, World Trade Organization, COVID-19, and Financial Stability
- Political Geography:
- Global Focus