Down and Almost Out in Geneva: A Time for Reflection on the Future of the Multilateral Trading System

Abstract

Following the third major collapse of talks in the Doha Round of multilateral trade negotiations on July 28, 2008, in Geneva, it was clear to many observers of the multilateral trade scene that it was time for reflection – on the Round, on other mechanisms to manage trade negotiations, on the future of the World Trade Organization (WTO) itself, and more generally on the institutional requirements of the emerging multipolar global economy. Those who have long worked in, and on, the multilateral trade system have at once great respect for its accomplishments and great concerns about its future viability in a global economic system that might not clearly be considered “multilateral” in nature. There was no clear consensus on whether the trade agenda will narrow or broaden in the future or on whether either direction will be unequivocally better or worse.

Keywords: Doha Development Agenda, WTO

JEL Classification: F13