Portansky Alexey
WTO Crisis: Is There a Way Out? In: Popkova, E.G., Sergi, B.S. (eds) Geo-Economy of the Future. Springer, Cham. 2022. P. 773-781. DOI 10.1007/978-3-030-92303-7_80.
Publication Type:


DOI 10.1007/978-3-030-92303-7_80

The author examines possible ways out of the WTO crisis, in which it found itself by the beginning of 2020. Recently, the global trading system was negatively affected by the US trade war with China and the WTO internal crisis associated with the suspension of the normal functioning of the Dispute Settlement Body. It has become clear that serious and urgent measures are needed to reform the WTO. The central problem of the reform should be the transformation of the consensus mechanism into a different way of decision-making. For its launch, it is critically important to achieving a convergence of the positions of China and the USA. Given the complexity of achieving multilateral agreements, the plurilateral format of negotiations among WTO members seems promising, followed by the signing of relevant agreements, the number of participants of which will grow over time.


Keywords: global crisis | World trade | WTO reform | trade wars |



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