WTO dysfunction | Forex Factory

  • WTO dysfunction

    From ihsmarkit.com

    The World Trade Organization's (WTO) Appellate Body on 10 December lost its quorum to hear new appeals after the United States vetoed the appointment of new judges. Reforms to the WTO demanded by the US are unlikely to advance during 2020, likely resulting in the growth of alternative dispute resolution pathways. As the World Trade Organization's (WTO) Appellate Body (AB) ceases to function, around 88 trade disputes are very likely to remain unresolved, primarily involving agricultural goods; aluminum, iron, and steel; energy; and raw materials, which are traded by the United States, the European Union, and China. By ... (full story)

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AnniLi
Dec 21, 2019 3:47am
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Since there are only two policy regimes - WTO and 3 super power protectionism - it is unsurprising that those Super powers will work against WTO reforms which would in turn work against the economic and military power of the big 3. But this is not new since US and EU have been against real free trade for decades.

The current leadership vacuum gives no hope of a proper global free trade regime. Forget it. With free trade the world growth would accelerate very quickly but ignorance, selfishness, xenophobia and blind pride are preventing progress which could generate immediate solutions to global problems. We have the knowledge but not the nouse.
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