Abstract
In recent years, the World Trade Organization (WTO), the multilateral trading system, has faced many difficulties and challenges due to the great vows of anti-globalisation and trade protectionism. The appellate body, as a significant portion of the Dispute Settlement Mechanism (DSU) of the WTO, has been suffering from an unprecedented crisis of suspension because the United States continues to prevent the appointment of vacant members. Now to save the World Trade Organization from an unprecedented crisis of survival reform has become a consensus. However, each member has a different opinion concerning the basic principle and specific contents of WTO reforms. In general, it is proposed to increase the flexibility of the negotiation mechanism and break the deadlock in multilateral negotiations caused by "consensus" and advocate the system in terms of substantive rules. It is proposed to establish new trade regulations, strengthen trade fairness, and eliminate investment Obstacles; in terms of disciplinary constraints, it advocates better use of the WTO's review and supervision functions and strengthens the constraints on members' compliance with transparency and notification obligations. In dispute settlement, it proposes to amend the relevant agreements as soon as possible To break the deadlock in the selection of judges of the Appellate Body and ensure the regular operation of the World Trade Organization. China clarifies its primary position and fundamental concerns, based on the existing paper, and introducing specific reform programs to participate more effectively in the WTO reform process. Qualitative research methodology has been applied to the following article.
Highlights
As one of the three Bretton Woods institutions that reshaped the global economic order after World War II, World Trade Organization (WTO) is the most complete, perhaps the most prestigious International Economic Organization in the world today (Bretton Woods, 2019)
Treatment promised by the relevant members can be enjoyed based on the most favoured nation principle (WTO International Monetary Fund, 2019). This position was echoed in the "Ottawa Gazette," "Tackling contemporary economic and trade issues and completing outstanding work is crucial to ensuring the value of the WTO, this requires flexible and open negotiations method to achieve multilateral results." It is worth mentioning that the 13 members participating in the Ottawa meeting of trade ministers include Australia, Brazil, Canada, Chile, the European Union, Japan, Kenya, South Korea, Mexico, New Zealand, Norway, Singapore, and Switzerland basic cover the major economies in the world except China and the United States
The consequent US blatantly prevents the selection of new judges, which causes the appellate body and even the whole dispute settlement mechanism to face the risk of "suspension," which makes the WTO fall into an unprecedented crisis of survival (Article 17.1 Dispute Settlement Mechanism (DSU), 2018)
Summary
As one of the three Bretton Woods institutions that reshaped the global economic order after World War II, World Trade Organization (WTO) is the most complete, perhaps the most prestigious International Economic Organization in the world today (Bretton Woods, 2019). Its vast coverage agreement system, clear free trade principles, and mature dispute settlement mechanism provide a valuable supply of rules and institutional compliance for international economic and trade activities. It is a benchmark for global economic governance. From the current attitudes of the primary members, there is consensus on the WTO's survival, which means that they all recognise the importance of the WTO-based multilateral trading system and hope to continue. Joint Communiqué of WTO Reforms (after this referred to as the Ottawa Communique); (Canada, 2018) and EU, China, Canada, India on November 26, 2018, jointly submitted Two proposals to break the deadlock in the selection of judges in the current appellate body (WTO-General Council, 2018). This article focuses on the above texts, substantive rules, disciplinary constraints, and dispute settlement from the negotiation mechanism
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