Download full text
(external source)
Citation Suggestion
Please use the following Persistent Identifier (PID) to cite this document:
https://doi.org/10.17645/pag.v11i1.6086
Exports for your reference manager
Populism, Globalization, and the Prospects for Restoring the WTO
[journal article]
Abstract This article sets out to identify a constructionist framework for a new and expanded “embedded liberalism” and WTO reforms in the global trading system. Globalization and populism led the Trump administration to attack the WTO system by introducing unilateral protectionist measures and undermining i... view more
This article sets out to identify a constructionist framework for a new and expanded “embedded liberalism” and WTO reforms in the global trading system. Globalization and populism led the Trump administration to attack the WTO system by introducing unilateral protectionist measures and undermining its rules and norms. US populist trade policies have persisted under President Biden. Necessary steps to restore the WTO system include (a) domestic reforms by WTO members to improve economic adjustment, labor mobility, and social safety nets; (b) WTO reforms to allow for additional domestic policy space, new negotiated rules to address contentious issues, and a relaxation of the consensus rule; and (c) US restoration of its commitment to multilateral trade rules. Renewed global leadership will be required to pursue these steps. If the current WTO agreement proves to be incapable of resolving these issues, countries will turn increasingly to the alternative of regional trade agreements, which may be able to re-create the conditions for a return to a rules-based global trading system. Yet populism, anti-globalization pressures, and geopolitical tensions present the danger of a continued unwillingness to cooperate among major countries.... view less
Keywords
WTO; trade policy; liberalism; populism; globalization; United States of America; international agreement
Classification
Economic Policy
International Relations, International Politics, Foreign Affairs, Development Policy
Free Keywords
embedded liberalism; global institutions
Document language
English
Publication Year
2023
Page/Pages
p. 181-192
Journal
Politics and Governance, 11 (2023) 1
Issue topic
Re-Embedding Trade in the Shadow of Populism
ISSN
2183-2463
Status
Published Version; peer reviewed