The Challenges to the World Trade Organization: It’s All About Legitimacy
The World Trade Organization (WTO) has delivered significant global economic benefits through the liberalization of world trade. As the key institution for global governance of international trade, the WTO has also stabilized the rules on trade and provided an effective dispute settlement mechanism to manage trade conflicts. However, despite the WTO’s success, a changing economic environment creates a series of significant challenges for the organization. In a new paper, Brookings Fellow Joshua Meltzer argues that the WTO must focus on its capacity for global economic governance to respond to these current challenges and concerns about the WTO’s legitimacy must also be addressed.
On April 28, the Brookings Institution and Foreign Policy magazine will host the launch of Joshua Meltzer’s paper “The Challenges to the World Trade Organization: It’s All About Legitimacy.” Panelists will also explore the current challenges the WTO faces, such as the implications of the rise of large developing countries, such as China, India and Brazil; the failure to conclude the Doha Round of trade negotiations; and the rapid growth of bi-lateral free trade agreements.
Kemal Derviş, vice president and director of Global Economy and Development at Brookings, will provide introductory remarks. Susan Glasser, editor in chief of Foreign Policy, will moderate the discussion. After the presentations, panelists will take audience questions.
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Even though [President Xi Jinping] has said that he aspires to [have] globally successful companies operating abroad, I think that there are real challenges for regime security.