Relevance of wto in today's global scenario
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World Trade Organization (WTO) is still largely built on the rules and dispute settlement mechanisms it adopted at its inception in the last century. However, world trade is a rather different beast in the 21st century. The WTO must adapt to this new world or it will be quickly marginalized.
The WTO is not keeping pace with thechanges taking place in the world. The cross-border flows of goods, services, know-how, investment, and people participating in international production networks—supply-chain trade in economic jargon—have transformed the global economy. TheWTO is caught between fulfilling its original mission and addressing new and emerging realities.
The WTO is not keeping pace with thechanges taking place in the world. The cross-border flows of goods, services, know-how, investment, and people participating in international production networks—supply-chain trade in economic jargon—have transformed the global economy. TheWTO is caught between fulfilling its original mission and addressing new and emerging realities.
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