jan 1, 2050 - WTO's Future
Description:
Question 4b.
WTO fundamentals are sound, but the architecture requires reform and modernization for the 21st-century global economy. It would remain as an indispensable organization, but it requires reform and adjustment. This is because 1) GATT/WTO rules in a number of areas can be outdated; 2) decision-making by WTO members seems to be too burdensome and no longer workable in an age of complex interdependence. 3) With the shifts of economic power as well as the development of technologies, member states would face other unprecedented challenges.
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WTO
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