Reforming the World Trade Organization: Practitioner Perspectives from China, the EU, and the US

Bernard Hoekman and Robert Wolfe

China & World Economy, 2021, vol. 29, issue 4, 1-34

Abstract: China, the European Union, and the United States are the world's largest traders. They have a big stake in a multilateral system of rules to manage the inevitable frictions among interdependent economies organized on different principles. This paper discusses elements of the WTO reform agenda through the lens of positions taken by these three WTO members, identifying the extent of alignment on key subjects, including transparency, dispute settlement, and plurilateral negotiations. We draw on findings of a recent research project on WTO reform and use responses to an expert survey to assess the prospects for actions that all three trade powers might support. Our premise is that reforming WTO is a necessary condition for the organization to be a more salient forum for the three large economies to address trade tensions, and that agreement among these three trade powers, in turn, is necessary to resolve the problems of the WTO.

Date: 2021
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