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Global Trade Governance at a Time of Great Transformation: Why the WTO Is Inadequate for Defending “Fair Trade”?

Published online by Cambridge University Press:  01 March 2021

Manjiao Chi
Manjiao Chi*
Affiliation:
Professor and Founding Director, Center for International Economic Law and Policy (CIELP), Law School, University of International Business and Economics (UIBE), Beijing, China, chimanjiao@uibe.edu.cn.
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Extract

In his book titled The Great Transformation, Karl Polanyi analyzed the social and political upheavals that took place in England during the rise of the market economy. The period referred by Karl Polanyi has long passed, but the global economic development is standing at a historical crossroad once again, in the era of globalization and free trade. Profound changes in international trade and investment governance have taken place in recent years. Among these changes, the crisis of the multilateral trading system with the World Trade Organization (WTO) at the center is outstanding and significant.

Type
The Great Transformation and the Promise of International Economic Law
Information
Proceedings of the ASIL Annual Meeting , Volume 114 , 2020 , pp. 305 - 307
Copyright
Copyright © The Author(s), 2021. Published by Cambridge University Press on behalf of The American Society of International Law.

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Footnotes

This panel was convened at 10:15 a.m., Friday, June 26, 2020, by its moderator James Gathii of Loyola University Chicago, who introduced the panelists: Simon Lester of the CATO Institute; Cliff Manjiao Chi of Law School of University of International Business and Economics, China; Daphne Hong of the Ministry of Foreign Affairs, Singapore; and Eunkyung Kim Shin of Baker McKenzie.

References

1 See generally Karl Polanyi, The Great Transformation: The Political and Economic Origins of Our Time (2d ed. 2001).

2 See, e.g., Manjiao Chi & Liang Qiao, A Skeletal Review of the Sino-U.S. “Trade War”: Contentious Issues, Trade Multilateralism and Policy Recommendations, 26 Can. For. Pol'y J. 99 (2020).

3 Available at https://ustr.gov/sites/default/files/files/agreements/phase%20one%20agreement/Economic_And_Trade_Agreement_Between_The_United_States_And_China_Text.pdf.

4 Earnest-Ulrich Petersmann, How Should WTO Members React to Their WTO Crisis?, 18 World Trade Rev. 503, 504 (2019).

5 Available at https://www.wto.org/english/tratop_e/dispu_e/dispu_agreements_index_e.htm.

6 For instance, when commenting on WTO reform, the United States has cited trade disputes relating to trade remedies as an example to demonstrate the defects of WTO dispute settlement. See United States Trade Representative, Report on the Appellate Body of the World Trade Organization 82–90, available at https://ustr.gov/sites/default/files/Report_on_the_Appellate_Body_of_the_World_Trade_Organization.pdf.

7 See generally Peter Van den Bossche & Denise Prevost, Essentials of WTO Law (2017).

8 United States – Definitive Anti-Dumping and Countervailing Duties on Certain Products from China (DS379), WT/DS379/AB/R, Report of the Appellate Body, 225, 83 (Mar. 11, 2011).

9 European Commission, The EU's New Trade Defense Rules and First Country Report, at https://ec.europa.eu/commission/presscorner/detail/en/MEMO_17_5377.

10 European Commission, Commission Staff Working Document on Significant Distortions in the Economy of the People's Republic of China for the Purpose of Trade Defense Investigations, available at https://trade.ec.europa.eu/doclib/docs/2017/december/tradoc_156474.pdf.