Understanding the ‘Crisis of the Institution’ in the Liberal Trade Order at the WTO
The origins of the current crises of the liberal trade order lie in the underlying tension which exists in the World Trade Organization (WTO), magnified by uncertain global power dynamics, suggests Aseema Sinha in her article for
International Affairs. The tension at the heart of the WTO - between representativeness and effectiveness - suggests that both cannot be achieved at the same time. This inherent tension is magnified by power shifts in the global economy, most evident in the rise of emerging powers who demand more representation in the WTO, and the retreat by the U.S. to a more inward-looking orientation. The author presents a synthetic analysis combining power-driven arguments with the institutional dilemma inherent in the global trade order, contrasting the ‘crisis of the institution’ with the ‘crisis within the institution’.
https://academic.oup.com/ia/article-pdf/97/5/1521/40304242/iiab109.pdf
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