New CEPR eBook 'Revitalising Multilateralism: Pragmatic ideas for the new WTO Director General'

Tuesday, November 10, 2020

 

A new CEPR/CTEI/SIAW-UNISG eBook by co-editors Simon Evenett and Richard Baldwin uses the Covid-19 pandemic as a lens to offer insights into the underlying choices faced by World Trade Organisation (WTO) members and offers suggestions for a WTO work programme over the coming three years. Their assumption is not that the Covid-19 pandemic changes everything, but rather, that it is an excellent example of the type of shock that the governments and the WTO must respond to. This shock interacts with the underlying shifts taking place in the world economy, as many of the chapters in their eBook make clear.       


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Can the WTO be saved? Should it? As its standing has diminished, accepted international norms for trade relations have given way more and more to the law of the jungle. A new CEPR eBook by leading trade economists calls for the WTO to implement changes to revitalise and rebuild trust in the multilateral trade system, and re-align WTO members towards shared goals. The appointment of a new WTO Director-General affords an excellent opportunity to revisit the tenets of multilateral trade cooperation and implement changes for future crisis management. Chapters in this eBook present and analyse ideas of how this could be done.

Read the Vox Column here