Previous Articles Sections Next
Revitalizing the World Trading System

Revitalizing the World Trading System

By Alan Wm. Wolff
Cambridge University Press, 2023, 588 pp.
  • Loading...

Reviewed by Barry Eichengreen

March/April 2024Published on
In This Review
Revitalizing the World Trading System

Revitalizing the World Trading System

By Alan Wm. Wolff

Cambridge University Press, 2023, 588 pp.
  • Loading...

The World Trade Organization is on life support. Former President Donald Trump threatened to withdraw the United States from the WTO and refused to nominate members to its Appellate Body, rendering its dispute-settlement capacity inert. U.S. President Joe Biden also failed to name new WTO judges, and the United States' trading partners have challenged the legality of Biden's signature legislation, the Inflation Reduction Act and the CHIPS and Science Act. Wolff, a former deputy director general of the WTO and former deputy U.S. special trade representative, acknowledges that the revitalization of the body depends on factors beyond its control, including American domestic politics. But he insists that the organization can improve its prospects through reform. The WTO should strengthen its capacity to monitor trade flows and practices. It should exercise greater agenda-setting powers. It can regain its legitimacy by striking a balance between calling out practices inconsistent with global trade norms while also avoiding judicial activism. The United States and the European Union should spearhead these reform efforts. But left unexplored is the question of whether progress is possible without the active support of the Chinese government, and whether China is prepared to become a responsible stakeholder.


This article was downloaded by calibre from https://www.foreignaffairs.com/reviews/revitalizing-world-trading-system


Previous Articles Sections Next