The World Trading System and Doha

In a new ECIPE publication, the FT’s Martin Wolf discusses in-depth the current state of the world trading system. He argues that in many respects it has been a huge success. The question, however, is where we go from here, at a time when the Doha round seems impossible to complete, preferential trade arrangements are exploding, the WTO is subject to constant political attack and protectionist pressures are rising. Wolf makes for main recommendations: stress the value of unilateral liberalisation; discipline preferential agreements; refocus the WTO, by reconsidering the idea of a single undertaking and by moving away from huge rounds; and,  focus on domestic reforms that will allow societies to remain open to the world. Stuart Harbinson for his part recently unplucked the history of the Doha Round itself and discusses ways to finish it. In a shorter term perspective Roderick Abbott recommends a few concrete steps to close the Round so that the WTO can move on.