Global commercial constitutionalization: the World Trade Organization

Joel P. Trachtman

Chapter 36 in Handbook on Global Constitutionalism, 2023, pp 519-527 from Edward Elgar Publishing

Abstract: This chapter describes the components of the global commercial constitution represented by the WTO and suggests the reasons why they exist. It will extrapolate from these reasons to suggest how this global commercial constitution may change in the near future. The influence of the original General Agreement on Tariffs and Trade (GATT), founded in 1947, and the WTO, founded in 1995, has grown significantly. This influence has grown according to the intent of member states, with growing technological and economic capacity for trade, and in order to respond to growing institutional challenges to the mandate of the GATT/WTO to liberalize trade. The constitutional aspects of the GATT and WTO have also grown over time, largely in informal and semi-formal (non-treaty) ways. For example, the jewel in the constitutional crown of the GATT/WTO - mandatory dispute settlement - was adapted over time, only arriving at its present state at the formation of the WTO in 1995.

Keywords: Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
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