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Chapter 1: Problem 4

What is the role of the World Trade Organization, and how has this role broken down recently?

Short Answer

Expert verified
The role of WTO is to oversee the global trade rules, handle trade disputes, and foster trade negotiations. However, this role has broken down due to the increasing unilateral measures, paralysis of the dispute settlement system, and stagnation in trade negotiations.

Step by step solution

01

Define the Role of the WTO

The World Trade Organization is an international institution that oversees the global trading rules among nations. It covers services, goods, and intellectual property. It plays key roles in handling trade disputes, monitoring trade policies and fostering openness in trade negotiations.
02

Explain Recent Breakdowns in Role

Recent changes in the global trade scenario have led to challenges in the WTO's role. The rise of unilateral measures and retaliation, the paralysis of the dispute settlement system, and the lack of progress in negotiations are among the disruptions in the usual functioning of the WTO.
03

Provide Specific Examples

For example, in recent years the WTO's dispute settlement system has been paralyzed due to specific countries’ objections to the appointment of Appellate Body members. In addition, there has been little progress in recent years in major trade negotiations, further indicating a breakdown in the system.

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