Analyzing WTO's Path to Balancing Developing and Developed Countries in Globalization: A Study Based on Cross-Domain Rule Interaction Theory

Abstract

The World Trade Organization was established to support cooperation in trade policy to achieve common economic goals. In the area of cross-rule interaction, however, international competition has intensified, making it difficult for the WTO to balance the responsibilities and obligations, and the costs and benefits, of developed and developing countries. The governance of the international economic and trade system has fallen into a new dilemma, with the gradual rise of minorilateralism and bilateral trade conflicts causing cracks in globalization. Based on this, this paper will analyze the drivers of the current dilemma faced by the WTO and provide suggestions for a balanced approach. At present, the rules of global economic and trade governance are lagging behind the needs of the new international trade model, as the WTO has not clearly apportioned the responsibilities and obligations to be borne by the countries of the South and the North and is facing a crisis of legitimacy in its dispute settlement mechanism. Therefore, WTO needs to strengthen its internal mechanisms as well as its organizational functioning to assign obligations to States on a case-by-case basis. In addition, the WTO should clarify its economic and trade policies according to different areas and strive to make the multilateral trading system more equitable and fair.