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3 - Links to the Pre-pandemic World

Published online by Cambridge University Press:  17 February 2022

James Bacchus
Affiliation:
University of Central Florida
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Summary

Born of confidence at the height of optimism for economic globalization, the WTO has failed so far to fulfill all the high hopes of its founders. WTO members have largely been unable to agree on new rules to meet new commercial needs, and global trade governance has been fragmented by a resulting proliferation of local and regional trade agreements. The rise of developing countries - and especially the rise of China - have transformed global trade negotiations. The return of economic nationalism in the United States and elsewhere has accelerated a retreat from multilateral trade liberalization and other global solutions in trade.

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Chapter
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Trade Links
New Rules for a New World
, pp. 94 - 113
Publisher: Cambridge University Press
Print publication year: 2022

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