Tag: wto

WTO or WTI—World Trade Organization or What Then Instead?

By Mike Koetting March 26, 2024

My attention was piqued last week when I noticed two articles suggesting that the wheels were coming off the World Trade Organization (WTO), the 160-something nation member organization whose members have agreed to negotiate, implement and abide by common rules for international trade under the premise of free trade. I started to think about the implications of its collapse and whether that was good thing or a bad thing. Oh, and I suppose, whether or not it was close to death.

Let’s start with the last. My Peanut Gallery View of the facts suggest that the WTO is facing some major problems. The most recent of its biennial meetings ended with no major agreements despite some serious issues on the table. The dispute resolution mechanism has come to a standstill as the United State has blocked appointments to the resolution panel for seven years. The Global South, particularly South Africa and India, have used their ability to block many resolutions. Competition between the U.S. and China has spilled into a wide range of issues.

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