Pacific Money

WTO as a Reflection of Emerging ‘New’ World Order

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Pacific Money

WTO as a Reflection of Emerging ‘New’ World Order

Today’s global economic realities are challenging the effectiveness of the WTO’s historical role as an arbiter of world trade.

WTO as a Reflection of Emerging ‘New’ World Order
Credit: World Trade Organization

There is broad historic agreement that the World Trade Organization (WTO) has been one the most successful international institutions; its membership accounts for more than 98 percent of world trade. However, today’s global economic landscape is changing rapidly, coupled with retrenchment and distancing from multilateral agreements. Combined, these factors impact the discernible value and role of the WTO going forward.

Changed Patterns of Trade and Investment

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