Established in 1995, the World Trade Organization (WTO) was the culmination of half a century of global trade liberalization achieved under the auspices of the General Agreement on Tariffs and Trade (GATT). Subsequent agreements to achieve further liberalization — and to establish rules for emerging forms of cross‐border trade and investment — were among the expectations of WTO members from the outset. But very little in the way of agreements on new rules has been achieved in the quarter century since the WTO’s founding, and today the institution is facing an existential crisis. Read More.
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