What Next for Trade After WTO Failure?

In order to stay relevant, the World Trade Organization must stress efficiency, liberalize initiatives, and adapt to changing realities

The collapse in the Doha round (BusinessWeek.com, 7/30/08) of trade negotiations has given us cause to take stock of the multilateral trade agenda and the problems that have dogged it since the failed WTO meeting in 1999 in Seattle. Unfortunately, looking back over the last near-decade in the multilateral trade negotiations, there have been very few bright spots. Indeed the only one, the launch of the Doha round in November 2001, has proven to be a false dawn, resulting as much from a reaction to the horrors of September 11 as from a realization of the need to liberalize trade by the WTO's members.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.