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Journal articles on the topic 'Multilateral Trading System (MTS)'

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Published: 10 December 2022

Last updated: 28 January 2023

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1

Herz, Bernhard, and Marco Wagner. "Regionalism as a Building Block for Multilateralism." Global Economy Journal 11, no. 1 (March 2011): 1850217. http://dx.doi.org/10.2202/1524-5861.1676.

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The well-known question whether regional trade agreements (RTAs) and the multilateral trading system (MTS) are “strangers, friends, or foes” (Bhagwati and Panagariya, 1996) has gained new importance with the widespread proliferation of RTAs in recent years. Based on an extensive data set which covers most of world trade over the past 60 years and about 240 regional trade agreements, we analyze the relationship between RTAs and the MTS by combining the gravity model framework with vector auto-regression analysis. Impulse-response-functions robustly suggest that multilateral trade liberalization responds in a significantly positive way to regional trade liberalization. We also find robust evidence that RTA liberalization Granger-causes GATT/WTO liberalization. Thus, our results indicate that RTAs do not undermine the MTS but serve as building blocks to multilateral trade liberalization.

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2

Goga, Harilla, and Stefan Qirici. "CHALLENGES FOR THE UN AND OTHER ORGANISATIONS: THE ECONOMIC DIMENSION." SEEU Review 12, no. 2 (December 20, 2017): 121–34. http://dx.doi.org/10.1515/seeur-2017-0021.

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Abstract The article aims to put on the table the ongoing works of the United Nations Organization (its economic dimension) and others like World Trade Organization (WTO) being focused in their current and future challenges to build an effective and useful Multilateral Trading System (MTS). Apart from achievements and reforms undertaken, further ones - based on another approach: considering the diversity principle - are proposed in order to reach equitable and fair trading negotiations outcomes in benefits of all members.

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3

ALSCHNER, WOLFGANG. "Amicable Settlements of WTO Disputes: Bilateral Solutions in a Multilateral System." World Trade Review 13, no. 1 (July 10, 2013): 65–102. http://dx.doi.org/10.1017/s1474745613000165.

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AbstractEvery third dispute brought to the WTO and not withdrawn early is settled amicably through a mutually agreed solution (MAS). This includes high-profile and long-standing WTO disputes such as EC–Bananas or Softwood Lumber. By offering a negotiated solution to hard cases, MAS have added stability to the multilateral trading system. MAS, however, also raise concerns. Settlements favour the instant resolution of disputes, but may conflict with third party interests and collective stakes. Where WTO members use their MAS to contract out of WTO law (‘WTO+’/‘WTO–’MAS), the multilateral trading system may be at risk. In addition, new forms of bilateral (interim-)settlements not foreseen in the DSU have recently emerged which currently escape multilateral disciplines. This article assesses how well the DSU balances the competing interests involved in amicable settlements, preserving the contractual flexibility of disputants while safeguarding multilateral interests. Contributing to current DSU reform debates, the article rejects the need for greater MAS enforceability, endorses the strengthening of procedural and substantive safeguards protecting collective stakeholders in settlements, and calls for new DSU disciplines on interim-settlements.

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4

Lee, Yong-Shik. "Reconciling RTAs with the WTO Multilateral Trading System: Case for a New Sunset Requirement on RTAs and Development Facilitation." Journal of World Trade 45, Issue 3 (June 1, 2011): 629–51. http://dx.doi.org/10.54648/trad2011022.

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The proliferation of regional trade agreements (RTAs) in the recent decades threatens the future of the multilateral trading system (MTS) because the exclusive trade preferences of RTAs, although approved under the provisions of Article XXIV General Agreement on Tariffs and Trade (GATT), are fundamentally inconsistent with a core principle of the MTS, the most favoured nation (MFN) principle, and causes discriminatory trade practices and fragmentations of trade disciplines. This paper argues that an ultimate solution will be reconciling the terms of RTAs with the core principle of the MTS by requiring extension of exclusive RTA preferences to the entire World Trade Organization (WTO) membership on an MFN basis after a certain period of time. The article also attempts to demonstrate the feasibility of the proposed solution with an application of the game theory. The article also analyses the impact of the proposed extension on the WTO system and discusses special and differential treatment (SDT) in favour of developing countries, particularly least developed countries (LDCs), in the context of the proposed solution.

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5

Cunha, Raphael, Norma Breda dos Santos, and Rogério de Souza Farias. "Generalized System of Preferences in General Agreement on Tariffs and Trade/World Trade Organization: History and Current Issues." Journal of World Trade 39, Issue 4 (August 1, 2005): 637–70. http://dx.doi.org/10.54648/trad2005039.

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The present study investigates the history of the General System of Preferences within the General Agreement on Tariffs and Trade (GATT) and World Trade Organization (WTO) systems with a particular view to define how developed and developing countries adapted their market policies to the demands of the multilateral trading system (MTS). It analyses the role of the most-favoured-nation (MFN) clause and its consequences to developing countries’ interests, within its parameters of differential market access. The study tries to explain the treatment of preferences in an objective light, presenting two current case studies: the formulation of the American GSP scheme and the dispute of India and the European Union in the WTO about the European Union’s GSP scheme. In addition to this, the study focuses on the conflict among developing countries on the issue of special and differential treatment. This focus will lead to a renewed reading of the history of MTS that takes into consideration the frailty of developing countries’ unity and that tries to understand why and to what extent this unity shattered along the way.

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6

Smeets, Maarten. "Trade Capacity Building in the WTO: Main Achievements since Doha and Key Challenges." Journal of World Trade 47, Issue 5 (October 1, 2013): 1047–90. http://dx.doi.org/10.54648/trad2013035.

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This contribution reviews the WTO's achievements in the field of trade capacity building since the launch of the Doha Development Agenda (DDA) in 2001, and discusses the key challenges. The DDA has clearly created a strong footing for the delivery of the WTO's trade capacity building programmes. The evidence suggests that the beneficiaries are now much better equipped to address the challenges of the Multilateral Trading System (MTS), to take active part in the negotiations, define their strategic objectives and defend their economic and trade interests. There is no room for complacency, however, as key challenges remain to be addressed. Human and institutional capacity building remain a priority for developing countries, and irrespective of the outcome of the DDA negotiations.

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7

Mbengue, Makane Moïse. "The Settlement of Trade Disputes." Law & Practice of International Courts and Tribunals 15, no. 2 (September 22, 2016): 207–48. http://dx.doi.org/10.1163/15718034-12341320.

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This article examines the question of whether the wto enjoys a monopoly over the settlement of trade disputes by examining the historical context of the Dispute Settlement Understanding of the wto, including early dispute resolution under the gatt and the goal behind the transformation leading to the wto of curbing potential unilateralism within the trade regime. It argues that this culminated in the intention to create a centralized rule-based system for the settlement of disputes, rather than an intention to create a monopoly for the wto. The article examines potential threats to the so-called monopoly, in particular with the proliferation of Regional Trade Agreements (rtas) and the development of Mutually Agreed Solutions (mas). It also addresses relevant case law to demonstrate that the wto does not and was not intended to enjoy a monopoly over trade disputes. Rather, the wto pursues the objective of strengthening the multilateral trading system rather than encouraging unilateral trade action, which would not appear to be undermined by resort to the dispute settlement mechanisms of relevant rtas or other dispute settlement mechanisms.

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8

Tremblay, Rodrigue, and John Whalley. "Canada and the Multilateral Trading System." Canadian Public Policy / Analyse de Politiques 13, no. 1 (March 1987): 115. http://dx.doi.org/10.2307/3550558.

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9

Anagol, Malati. "Growth of Regional Trading Blocs and Multilateral Trading System." Foreign Trade Review 26, no. 4 (January 1992): 297–311. http://dx.doi.org/10.1177/0015732515920406.

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10

Savic, Biljana. "Multilateral trading system and regional economic integrations." Medjunarodni problemi 62, no. 4 (2010): 678–90. http://dx.doi.org/10.2298/medjp1004678s.

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Development in recent years suggets that Regional Trade Agreements have become a very prominent feature of the Multilateral Trading System and an important trade policy instrument for WTO Members. Regional agreements can play an important role in promoting trade and in fostering economic development by increasing trade and FDI flows, and by integrating developing countries into the world economy. However, the proliferation of regional agreements and the development of complex network of preferential trade relations known as the ?spaghetti bowl? phenomenon leads to trade diversion which reduce economic efficiency. There is the need to multilateralize regionalism. WTO rules could and should be modified to ensure that regional agreements are designed and implemented so to complement the multilateral process and not to undermine it. A step forward in that direction would be a developing a WTO Action Plan on Regionalism.

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11

Vihinen, Lea, and Hyung-Jong Lee. "Fair Trade and the Multilateral Trading System." OECD Papers 5, no. 2 (July 29, 2005): 1–14. http://dx.doi.org/10.1787/oecd_papers-v5-art6-en.

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12

Ramamurti, Ravi. "The future of the multilateral trading system." Thunderbird International Business Review 42, no. 5 (September 2000): 611–17. http://dx.doi.org/10.1002/1520-6874(200009/10)42:5<611::aid-tie8>3.0.co;2-g.

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13

Bagwell, Kyle, and Robert W. Staiger. "Will Preferential Agreements Undermine the Multilateral Trading System?" Economic Journal 108, no. 449 (July 1, 1998): 1162–82. http://dx.doi.org/10.1111/1468-0297.00336.

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14

Koopmann, Georg, and Stephan Wittig. "Whither WTO — the multilateral trading system after Bali." Intereconomics 49, no. 1 (January 2014): 2–3. http://dx.doi.org/10.1007/s10272-014-0482-2.

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15

Pal, Parthapratim. "Regional Trade Agreements in a Multilateral Trade Regime." Foreign Trade Review 40, no. 1 (April 2005): 27–48. http://dx.doi.org/10.1177/0015732515050102.

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One of the most striking developments in the world trading system since the mid 1990s has been the surge in Regional Trade Agreements (RTAs). From about 50 till 1990, the number of RTAs has crossed 250 in 2003. As trading within RTAs does not come under the purview of World Trade Organization (WTO), this explosive growth of regionalism is threatening to emerge as an alternative to the WTO led international trading system. This has initiated an intense debate among economists whether RTAs are “building blocks” or “stumbling blocks” of the multilateral trading system. In this backdrop, this paper traces the reasons behind this resurgent regionalism and surveys the literature on RTAs and its interaction with the multilateral trading system. This paper attempts to look at these issues from the perspective of a developing country.

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16

Xiong, Shouyao, Yuanyuan Feng, and Kai Huang. "Optimal MTS and MTO Hybrid Production System for a Single Product Under the Cap-And-Trade Environment." Sustainability 12, no. 6 (March 20, 2020): 2426. http://dx.doi.org/10.3390/su12062426.

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This paper studies the optimal production planning in a hybrid Make-To-Stock (MTS) and Make-To-Order (MTO) production system for a single product under the cap-and-trade environment. The manufacturer aims to minimize the total cost in production, inventory and emissions allowances trading. The decisions include the selection of production mode (pure MTS, pure MTO or hybrid MTS/MTO), the inventory and emissions trading quantity. We derive the optimal solution analytically. We show that the cost of optimal MTO/MTS hybrid production strategy is remarkably less than that of either pure MTO or pure MTS production strategy alone. Compared with the no initial carbon quota and trading environment, there are significant differences in the optimal production decisions under trading environment. When the emissions cost is a source of costs, the manufacturer has to face more costs pressure even if there is no emissions allowance trading. In particular, the results show that the initial emissions allowance determines the optimal production decision and emissions allowance trading decision in cases where the difference between the inventory cost for per unit product and the delayed delivery cost for per unit order is between the minimum and the maximum emissions cost and has no effect on production mode and emissions allowances trading decision in other cases. These conclusions will provide optimal production decision and carbon trading decision for the manufacture under a cap-and-trade environment.

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17

Lessa, Antônio Carlos. "WTO and the challenges of the multilateral trading system." Meridiano 47 - Journal of Global Studies 16, no. 150 (April 16, 2022): 3–4. http://dx.doi.org/10.20889/m47e16150001.

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18

양정미 and Lee,Eun-Sup. "Effect of Proliferation of RTAs on Multilateral Trading System." KOREA INTERNATIONAL COMMERCIAL REVIEW 26, no. 3 (September 2011): 169–88. http://dx.doi.org/10.18104/kaic.26.3.201109.169.

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19

de Souza Farias, Rogério. "Brazil and the Origins of the Multilateral Trading System." International History Review 37, no. 2 (June 16, 2014): 303–23. http://dx.doi.org/10.1080/07075332.2014.897248.

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20

Kishore, P. "Special and Differential Treatment in the Multilateral Trading System." Chinese Journal of International Law 13, no. 2 (June 1, 2014): 363–94. http://dx.doi.org/10.1093/chinesejil/jmu004.

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21

Adhikari, Ratnakar. "The Multilateral Trading System: Economic, Legal, and Political Analyses." Global Governance: A Review of Multilateralism and International Organizations 15, no. 3 (August 12, 2009): 409–24. http://dx.doi.org/10.1163/19426720-01503008.

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22

Panagariya, Arvind. "Challenges to the Multilateral Trading System and Possible Responses." Economics: The Open-Access, Open-Assessment E-Journal 7, no. 2013-10 (2013): 1. http://dx.doi.org/10.5018/economics-ejournal.ja.2013-10.

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23

Lipsey, Richard G. "Growth, erosion, and restructuring of the multilateral trading system." Journal of Asian Economics 3, no. 1 (March 1992): 121–39. http://dx.doi.org/10.1016/1049-0078(92)90009-n.

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24

Ornelas, Emanuel. "Endogenous free trade agreements and the multilateral trading system." Journal of International Economics 67, no. 2 (December 2005): 471–97. http://dx.doi.org/10.1016/j.jinteco.2004.11.004.

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25

Kimura, Fukunari. "Defending the Rule-based Trading Regime: The Multilateral Trading System at Risk and Required Responses." Asian Economic Papers 18, no. 3 (December 2019): 78–87. http://dx.doi.org/10.1162/asep_a_00722.

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The current trade turmoil is not limited to negative economic effects stemming from the series of recent trade measures erected by the United States as part of the escalating U.S.–China trade war. The more serious issue that will unfold in the middle to long term is the potential collapse of the rule-based trading regime. The weakening of the multilateral trading system centered by the World Trade Organization (WTO) seems to continue. East Asia has been one of the largest beneficiaries of the rule-based trading regime in its course of extending and deepening international production networks and must now take proactive moves to defend and preserve this stable economic environment. Two crucial tasks in the preservation of the WTO are efforts to maintain the functionality of the dispute settlement mechanism and the revival of the WTO as a forum for future trade negotiations. At the same time, East Asia must develop a network of mega–free trade agreements (FTAs) to partially supplement a possible loss of the multilateral framework.

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26

Zhou, Weihuan, and Henry Gao. "US–China Trade War: A Way Out?" World Trade Review 19, no. 4 (July 2, 2020): 605–17. http://dx.doi.org/10.1017/s1474745620000348.

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AbstractRecently, a group of eminent Chinese/US economists and legal scholars issued a thought-provoking Joint Statement on ‘US–China Trade Relations: A Way Forward’. However, the Joint Statement does not provide practical solutions to the real issues in the bilateral negotiations. Moreover, by granting excessive policy space to the two largest trading nations, it would encourage them to further deviate from WTO rules and undermine the multilateral trading system. Drawing on the Theory of Distortions and Welfare, we put forward an alternative framework for the parties to tackle protectionist and trade distortive policy instruments while leaving sufficient policy space for them to pursue non-protectionist policy goals. Our framework would minimize WTO-inconsistent outcomes and prevent further erosion of the multilateral system as we encourage the parties to negotiate in a WTO-consistent manner. Hopefully, this would also provide the groundwork for more inclusive trade negotiations under the multilateral trading system.

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27

Koval, Alexandra, Alejandro Gamboa-Alder, Désirée Maria van Gorp, Sergei Sutyrin, and Carlos Uriarte Sánchez. "International trading system: Up the down staircase?" St Petersburg University Journal of Economic Studies 38, no. 1 (2022): 130–50. http://dx.doi.org/10.21638/spbu05.2022.106.

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The future of the international trading system under modern challenges is uncertain. The surge of protectionism, the re-balancing of power between nations, and a recent pandemic along with expanding digitalization demonstrate the necessity of rethinking global trade governance. The paper aims to reveal the key challenges of modern international trading system and provide possible ways to address them. Participants in the debate indicated that protectionism inevitably remains in modern trade policy, although liberalization and multilateral trade talks could provide incentives for more fair trade. The global interconnectivity in the framework of global value chains requires a new trade agenda. It is clear that states, especially in modern circumstances, primarily defend their national interests. However, strategically all WTO members will benefit from the development of multilateral cooperation. The responsibility of national policy makers and companies, especially those most powerful, is to maintain sustainable economic development. COVID-19 made more evident the core problems of the development of the international trading system. It has also provoked “pandemic-specific” protectionism, which should be taken into account in future developments of global governance. Digital technologies will certainly re-shape the modern structure of international trade, regardless of whether it happens in a revolutionary or evolutionary manner. The globalization leads to the digital divide among nations and the necessity to adjust the national policies. The World Trade Organization is not obliged to cope with all these issues, but its members are.

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28

KAYA, AYSE. "Designing the Multilateral Trading System: Voting Equality at the International Trade Organization." World Trade Review 15, no. 1 (November 4, 2015): 25–49. http://dx.doi.org/10.1017/s1474745615000506.

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AbstractThrough detailed archival analysis, this paper examines states' voting rights and representation in the International Trade Organization (ITO), which remains an under-analyzed aspect of the post-war multilateral trading system. The paper shows that the US designers of the ITO preferred and pursued formal voting equality because they reasoned it served the institution's intended functions and purposes better than weighted voting. But, as the negotiations undermined US priorities, particularly on balance of payment (BOP) questions, the designers presented a proposal for mirroring the IMF's weighted voting at the ITO. They, however, returned to their original proposal of voting equality when the ultimate draft of the ITO reflected their key preferences without resorting to weighted voting. By closely tracing the drafters' thinking throughout the evolution of the negotiations, the paper contributes to understanding the design of multilateral institutions as well as US behavior in the creation of the post-war multilateral system.

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29

JungTaik Hyun. "The Multilateral Trading System in Crisis and Korea's Policy Responses." International Trade Law ll, no. 138 (December 2017): 3–8. http://dx.doi.org/10.36514/itl.2017..138.001.

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30

Suh, Jeong-Meen. "A Study on Critical Mass Approach in Multilateral Trading System." Korean Journal of International Economic Law 15, no. 2 (July 31, 2017): 119–41. http://dx.doi.org/10.46271/kjiel.2017.07.15.2.119.

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31

Anderson, R. D. "Competition Policy and the Future of the Multilateral Trading System." Journal of International Economic Law 5, no. 2 (June 1, 2002): 531–63. http://dx.doi.org/10.1093/jiel/5.2.531.

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32

Whalley, John. "Efficiency, Equity, Legitimacy: The Multilateral Trading System at the Millenium." Journal of Development Economics 72, no. 1 (October 2003): 420–23. http://dx.doi.org/10.1016/s0304-3878(03)00090-7.

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33

Franck, Raphaël. "Efficiency, Equity, Legitimacy: The Multilateral Trading System at the Millennium." European Journal of Political Economy 19, no. 4 (November 2003): 912–14. http://dx.doi.org/10.1016/s0176-2680(03)00004-1.

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34

Koopmann, Georg. "Growing regionalism — A major challenge to the multilateral trading system." Intereconomics 38, no. 5 (September 2003): 237–41. http://dx.doi.org/10.1007/bf03031723.

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35

Cooper, Richard N., and Roger B. Porter. "Efficiency, Equity, Legitimacy: The Multilateral Trading System at the Millennium." Foreign Affairs 81, no. 1 (2002): 209. http://dx.doi.org/10.2307/20033022.

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36

Kessie, Edwini, and Yvonne Apea. "THE PARTICIPATION OF AFRICAN COUNTRIES IN THE MULTILATERAL TRADING SYSTEM." African Yearbook of International Law Online / Annuaire Africain de droit international Online 12, no. 1 (2004): 9–66. http://dx.doi.org/10.1163/221161704x00024.

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37

Blackhurst, Richard. "Editor's Introduction to the inaugural issue." World Trade Review 1, no. 1 (March 2002): 5–6. http://dx.doi.org/10.1017/s1474745602001064.

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For much of the post-war period, interest in the multilateral trading system – as embodied in the General Agreement on Tariffs and Trade (GATT) – was limited to national delegates posted to Geneva, a small number of technocrats in capitals, and a handful of academics, mostly legal scholars plus a few economists and an even smaller number of political scientists. Among politicians and the general public, the GATT was virtually unknown. During those years, a professional journal devoted exclusively to the multilateral trading system would have been hard pressed to fill its pages.

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38

Atagher, Luter. "Beyond Multilateral Treaty Reforms." McGill GLSA Research Series 2, no. 1 (October 25, 2022): 19. http://dx.doi.org/10.26443/glsars.v2i1.186.

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International trade law is primarily concerned with facilitating the flow of goods and services across national borders by minimizing tariff and non-tariff barriers to trade. However, there is a nexus between international trade and the environment. First, international trade is reckoned to have destructive environmental effects. The liberalization of global trade results in increased economic activity, including industrial processes, manufacturing, innovation of new technology, and extraction of natural resources from the earth and the sea, which inevitably results in environmental externalities such as biodiversity loss, pollution, and climate change. Second, international trade law intersects environmental law whenever trade restrictive measures such as import bans, export control and border taxes are adopted by states as a means of achieving environmental goals.[1] Such measures condition market access on the fulfilment of environmental norms related to the characteristic of the product or the process of its production. The World Trade Organization (WTO) currently oversees the largest multilateral regime for international trade. WTO covered agreements expressly recognises some exceptions to trade liberalization commitments for environmental objectives, this policy space is subjected to a system of strict limitations and review procedures designed to protect the global trading system from arbitrariness and disguised restrictions on trade. This scrutinized policy space accounts for the contention that the multilateral trading system constrains environmental regulation and requires treaty reforms for the purpose of adapting to contemporary environmental concerns. Others have focused on a change of approach in the reasoning of WTO adjudicators in their review of trade-restrictive environmental measures. However, the process of multilateral negotiations for new agreements needed to effect rule change is notably complex and has been fraught with deadlocks in the last couple of decades. The stalemate over appointment of members of the Appellate Body has hampered the effective functioning of third-party adjudication in the WTO and the prospect of ‘pro-environmental’ approaches in the interpretation of WTO law on environmental measures. Meanwhile, numerous environment-related measures continue to be notified within the WTO. I argue that notwithstanding the absence of treaty reforms, international trade law continuously evolves through various formal and informal norm-generating practices by member states and trade stakeholders. Viewed through the lens of legal pluralism, these practices contest, modify and transform normative meaning in the multilateral trading system thereby creating a permissive setting for trade-restrictive environmental measures within the framework of extant international trade law.

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39

Altemöller, Frank. "A Future for Multilateralism?: New Regionalism, Counter-Multilateralism and Perspectives for the World Trade System after the Bali Ministerial Conference." Global Trade and Customs Journal 10, Issue 1 (January 1, 2015): 42–53. http://dx.doi.org/10.54648/gtcj2015002.

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Participation in the World Trading System is generally considered to bring substantial benefits. However, the developments of the Doha Round show, that the multilateral trade negotiations are progressing at an unprecedentedly slow pace accompanied by constant setbacks. This resistance towards stronger multilateral economic integration may at first appear not very plausible. This article sets out to look for the causes of these difficulties. From that base, it describes the ways that WTO Member States are seeking different strategies for economic integration on the bilateral, regional and inter-regional levels. The perspectives for the future of the World Trading System and multilateralism are discussed.

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40

Chu, Ke-young. "Efficiency, Equity, and Legitimacy: The Multilateral Trading System at the Millennium." Journal of Comparative Economics 31, no. 1 (March 2003): 163–65. http://dx.doi.org/10.1016/s0147-5967(03)00012-x.

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41

Bagwell, Kyle, and Robert W. Staiger. "Reciprocity, non-discrimination and preferential agreements in the multilateral trading system." European Journal of Political Economy 17, no. 2 (June 2001): 281–325. http://dx.doi.org/10.1016/s0176-2680(01)00029-5.

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42

Arthur, Peter. "The Multilateral Trading System, Economic Development, and Poverty Alleviation in Africa." Canadian Journal of Development Studies/Revue canadienne d'études du développement 25, no. 3 (January 2004): 429–44. http://dx.doi.org/10.1080/02255189.2004.9668987.

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43

Z. Haftel, Yoram. "American Power, the North-South Divide, and the Multilateral Trading System." International Studies Review 15, no. 4 (November 21, 2013): 634–36. http://dx.doi.org/10.1111/misr.12077.

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44

Zhou, Weihuan. "In Defence of the WTO: Why Do We Need a Multilateral Trading System?" Legal Issues of Economic Integration 47, Issue 1 (March 1, 2020): 9–42. http://dx.doi.org/10.54648/leie2020002.

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For more than seven decades, the multilateral trading system has played an essential role in promoting international cooperation on trade policymaking and dispute resolution. As theWTOis being pushed toward the verge of irrelevance, it falls upon us, who believe in the utility of the WTO and multilateralism in general, to defend its legitimacy and significance. Taking theoretical and doctrinal approaches as well as case studies, this article expounds on the fundamental function of the system as being to discipline the use of protectionist policy instruments for trade or non-trade objectives and draws on the significance of the Theory of Distortions and Welfare in providing powerful economic guidance for how the system may operate to achieve a proper balance between the regulation of protectionist instruments and the preservation of policy space. Furthermore, this article shows how the WTO’s dispute settlement mechanism, particularly the Appellate Body, has served the underlying function of the system by contributing to disincentivizing governments from responding to protectionist demands of special interest groups but leaving sufficient latitude of discretion for governments to accommodate nontrade interests. This article cautions that if theWTOdoes collapse and potential adverse economic and political ramifications materialize, then the political need for international trade cooperation and rulesbased dispute resolution will quickly return. By then, the best way to address that need in pursuit of long-term peace and prosperity would be to rebuild a multilateral trading system. WTO, Trade War, Protectionism, Multilateral trading system, Non-trade values, Dispute Settlement, Appellate Body, Economic efficiency.

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BLANCHARD, EMILY J. "A Shifting Mandate: International Ownership, Global Fragmentation, and a Case for Deeper Integration under the WTO." World Trade Review 14, no. 1 (January 2015): 87–99. http://dx.doi.org/10.1017/s1474745614000408.

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AbstractThis paper reviews several key implications of international investment and global supply chain fragmentation for the multilateral trading system. Based on existing economic research, I identify a two-fold challenge for policy makers: first, to leverage the trade-liberalizing potential of global fragmentation at the multilateral level; and, second, to counter the potential for opportunistic manipulation of behind-the-border policy instruments.

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Smeets, Maarten. "Africa’s Integration into the WTO Multilateral Trading System: Academic Support and the Role of the WTO Chairs." Journal of World Trade 56, Issue 3 (May 1, 2022): 497–552. http://dx.doi.org/10.54648/trad2022020.

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The Marrakesh Agreement establishing the WTO recognized the need for positive steps to be taken to ensure that developing countries, and especially the least developed among them, secure a share in the growth of international trade that is commensurate with their economic development needs. This article discusses how the WTO helps to facilitate Africa’s integration into the WTO multilateral trading system. It is argued that while African countries are actively engaged in the work of the WTO and are pursuing their economic and policy interests, some key challenges remain. These include further diversifying their production, linking to global value chains (GVCs) and developing adequate infrastructure to facilitate digital trade so that it becomes a vehicle for economic growth. The WTO, working closely with partner institutions, supports Africa in its endeavours to tackle some of these challenges, offering a range of programmes that are geared towards trade capacity-building. It is argued that the work undertaken by WTO Chairs and academic institutions under the aegis of the WTO’s Chairs Programme (WCP) is of critical importance in providing the analytical underpinnings for the policy choices that will encourage fuller integration into the multilateral trading system. This programme was significantly expanded and deepened in 2021 with a view to strengthening its capacity to provide support to beneficiaries and especially least-developed countries (LDCs) (largely African countries) so that they can more fully embrace the multilateral trading system. trade, capacity-building, Africa, WTO, global value chains, academic support

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Seshadri, V. S. "Challenges Facing Developing Countries in the International Trading System." Global Trade and Customs Journal 14, Issue 7/8 (August 1, 2019): 336–42. http://dx.doi.org/10.54648/gtcj2019037.

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This article analyses various dimensions of the uncertainty plaguing the multilateral trading system and examines its implications for developing countries. It details how countries are compelled to enter into free trade agreements on account of competitive liberalization and the growing propensity to explore new issues through sectoral plurilaterals. In addition, global factors such as the ‘America First’ approach and the rise of China provide the context to analyse India’s role in the international trading system. Specifically, the Article explores India's experience with the Doha Round, regional trade agreements (RTAs) and plurilaterals. It concludes that a patchwork of RTAs worldwide and an array of plurilaterals on an a la carte basis make a very complicated, divided and perhaps an unfair trading regime.

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Genee, Otto. "Funding a Global Public Good." Global Trade and Customs Journal 16, Issue 10 (October 1, 2021): 501–6. http://dx.doi.org/10.54648/gtcj2021057.

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The ACWL was established to enhance the credibility and acceptability of the rules-based multilateral trading system embodied in the WTO. Having affordable access to the services of the ACWL ensures that developing and least-developed countries can effectively participate in and take full advantage of their WTO Membership. The ACWL has become a global public good that serves the interests of all WTO Members. As the ACWL has outgrown its original financial plan, there is an urgent need to put its financing on a secure basis. All WTO developed country Members should recognize the important role of the ACWL and help in the burden sharing of financing it. ACWL, global public good, rules-based multilateral trading system, developing countries, burden sharing, financing

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Isachenko, T. M. "WTO REFORM: BACKGROUND, CONDITIONS AND PROSPECTS." MGIMO Review of International Relations, no. 3(48) (June 28, 2016): 239–48. http://dx.doi.org/10.24833/2071-8160-2016-3-48-239-248.

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Maximizing the benefits of international division of labor and sharing the achievements of innovative development is possible only with the existence of a strict system of rules and regulations. Such system would enable fair regulation of international trade, ensure the transparency of market access and make it possible to challenge discriminatory measures, as well as to maintain certain measures to protect the interests of domestic producers. The creation of the multilateral trading system has started with the General Agreement on Tariffs and Trade (GATT) and was subsequently developed in the documents and codes, the decisions of the negotiating rounds. Since 1995, a set of rules of the World Trade Organization (WTO) became the basis of the multilateral trading system. All rules are worked out at the multilateral level. However, in recent years the negotiations within the WTO has slowed down, that affected the quality and speed of decision-making on key issues of global development. That provokes the discussion it on a certain crisis of the WTO as the main regulator of world trade, and therefore the need to provide both institutional and substantive reforms.

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Oatley, Thomas H. "Multilateralizing Trade and Payments in Postwar Europe." International Organization 55, no. 4 (2001): 949–69. http://dx.doi.org/10.1162/002081801317193655.

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Europe's postwar shift to multilateral trade and payments arrangements was complicated by three factors. Distributional problems and uncertainty about the state of the world made European governments reluctant to adopt multilateral arrangements without financial support from the United States. An enforcement problem made U.S. policymakers reluctant to finance a European multilateral trading system. The severity of these problems was reduced by institutional designs that combined flexibility, centralization, and particular decision rules. Centralization and flexibility reduced uncertainty and softened distributive conflict. Centralization and particular decision rules solved the enforcement problem that U.S. policymakers faced.

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