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2 results

  • 3 - Core Elements of the World Trading System

  • from Part II - The Multilateral Trading System
  • Alan Wm. Wolff, Peterson Institute for International Economics (PIIE)
  • Book:
    Revitalizing the World Trading System
    Published online:
    22 June 2023
    Print publication:
    06 July 2023, pp 35-51

  • Summary

    At the heart of the multilateral trading system is the commitment to nondiscrimination, the most-favored-nation (MFN) principle, mandating that all nations participate on equal terms. Added to this are a series of obligations to limit government interventions in trade. To give assurance that the system will deliver what it promises, transparency is required, making clear to all the measures that affect trade. Reality diverges from the ideal.

  • 6 - A Week at the WTO

  • from Part III - The Regular Operations of the WTO
  • Alan Wm. Wolff, Peterson Institute for International Economics (PIIE)
  • Book:
    Revitalizing the World Trading System
    Published online:
    22 June 2023
    Print publication:
    06 July 2023, pp 187-232

  • Summary

    The preceding chapters captured the activities of the WTO that generate headlines – the biennial meetings of trade ministers. Those events are graded by whether the ministers are able to reach agreement or fail to do so. There is much more to the WTO – much that is important but not well-known other than to officials from member countries. The chapter is designed to show what the WTO does on a regular basis, by putting the reader into WTO meetings, vicariously.