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Description

This book traces the history, evolution, and challenges of the World Trade Organization (WTO), examining its role in shaping the global trading system from its origins in the post-World War II era through to the present day. Beginning with the foundational principles of multilateral trade agreements and the establishment of the WTO in 1995, the book delves into pivotal moments such as the Uruguay Round, the Doha Development Round, China's accession, and the rise of regional trade agreements. Through a detailed analysis of key trade disputes, the growing role of digital commerce, and the implications of the COVID-19 pandemic, the text critically assesses the WTO's responses to evolving global trade dynamics.

The book explores the increasing fragmentation of global trade and the rise of trade wars, particularly the U.S.-China trade conflict, highlighting the limitations of the WTO's ability to manage new challenges such as digital trade, environmental sustainability, and global economic inequality. It addresses the WTO's institutional weaknesses, particularly its decision-making processes and the paralysis of the dispute settlement mechanism. Calls for comprehensive reforms are examined, with attention given to proposed solutions such as plurilateral agreements and strengthening the WTO's role in regulating the digital economy.

Ultimately, the book poses critical questions about the WTO's future, its capacity to adapt to the needs of a rapidly changing world, and its ability to foster a more equitable, sustainable global trade system. The work concludes with reflections on how the WTO can reform and continue to serve as a cornerstone for multilateral trade in the face of emerging global challenges.