Trade Multilateralism in Crisis: Limitations of Current Debates on Reforming the WTO, and Why a Game-Changer is Necessary

Abstract

As the old adage goes: never let a good crisis go to waste. Many policy-makers across the world - representing individual countries and international organisations - deserve credit for having launched a serious debate about reforming the WTO, in light of the many serious challenges the system faces today. This reform debate has been a long time coming. But in its current state, the conversation remains largely inward-looking, and thus fundamentally inadequate. The problems confronting trade multilateralism have deep roots; technocratic fixes within the WTO, while important, can play only a small part in resolving them. A fundamental rethinking and renegotiation on the narratives that underpin globalisation is necessary if we are to address the crisis trade multilateralism faces today. This article offers some concrete recommendations to facilitate this.