Abstract
AbstractChina, the European Union, and the United States are the world's largest traders. They have a big stake in a multilateral system of rules to manage the inevitable frictions among interdependent economies organized on different principles. This paper discusses elements of the WTO reform agenda through the lens of positions taken by these three WTO members, identifying the extent of alignment on key subjects, including transparency, dispute settlement, and plurilateral negotiations. We draw on findings of a recent research project on WTO reform and use responses to an expert survey to assess the prospects for actions that all three trade powers might support. Our premise is that reforming WTO is a necessary condition for the organization to be a more salient forum for the three large economies to address trade tensions, and that agreement among these three trade powers, in turn, is necessary to resolve the problems of the WTO.
Highlights
After 26 years since its establishment in 1995, the World Trade Organization (WTO) undoubtedly needs to renovate both its rules and working practices
Our aim is to shed some light on areas of alignment, or absence of alignment, across these three players on the main subjects associated with reform debates, including WTO working practices, notably consensus and special and differential treatment (SDT) for developing countries, transparency of trade policy, deliberation in committees and other WTO bodies, and dispute-settlement procedures
The US has repeatedly raised concerns on which it thinks WTO reform depends, even going so far as to submit a draft resolution proposing that the General Council express its serious concerns with non-market-oriented policies and practices “that have resulted in damage to the world trading system and lead to severe overcapacity, create unfair competitive conditions for workers and businesses, hinder the development and use of innovative technologies, and undermine the proper functioning of international trade” (WTO, 2020a, p. 1)
Summary
After 26 years since its establishment in 1995, the World Trade Organization (WTO) undoubtedly needs to renovate both its rules and working practices. Our aim is to shed some light on areas of alignment, or absence of alignment, across these three players on the main subjects associated with reform debates, including WTO working practices, notably consensus and special and differential treatment (SDT) for developing countries, transparency of trade policy, deliberation in committees and other WTO bodies, and dispute-settlement procedures.
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