Was Buenos Aires the Beginning of the End or the End of the Beginning? The Future of the World Trade Organization
The WTO's relevance is questioned after the 11th Ministerial Conference failed to reach new agreements, highlighting the need for plurilateral approaches to trade issues.
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| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | CATO Institute |
| Authors: | James Bacchus |
| Geographic focus: | Global |
Methods
The research method involved analyzing the outcomes of the 11th Ministerial Conference of the WTO, assessing the current political and diplomatic climate, and evaluating the potential for plurilateral agreements as a strategic approach to trade negotiations within the WTO framework.
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Key Insights
The report discusses the World Trade Organization's (WTO) challenges following the unsuccessful 11th Ministerial Conference in Buenos Aires, where members failed to reach new trade agreements. The absence of U.S. leadership and the Trump administration's criticism of the WTO further complicate its future. Despite these issues, some members are ready to pursue plurilateral agreements, which could eventually become multilateral. The report suggests that plurilateralism may be the most promising path to achieving the WTO's goals in the 21st century, with issues like digital trade and services ripe for negotiation. The author, James Bacchus, argues that while multilateral agreements remain the ultimate goal, plurilateral approaches offer a practical way forward and could reinvigorate the WTO's central role in global trade.
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Additional Viewpoints
Categories: English publication language | Global geographic scope | digital trade | environmental goods | fisheries subsidies | investment facilitation | ministerial conference | multilateralism | plurilateral agreements | services trade | u.s. leadership | wto challenges