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- W575760408 abstract "The World Trade Organization is in many ways similar to the splitting of the atom. Both have great potential for productivity and destruction. The limited role of the WTO is that it cannot save us from us. The WTO cannot establish new values or agendas for future trade officials. The scope and future of the WTO are limited by the vision, imagination, courage, and conscience of the trade community. The WTO’s goal and function are to remove tariff and nontariff barriers and provide a mechanism for solving disputes between member states. However, the WTO has limits. Two of the forces forming these limits are consensus and expertise. Consensus is still the watchword for the WTO. Consensus has had a positive impact on restraining those who would turn the WTO into an economic sanctions-granting version of the United Nations, and consensus keeps the membership focused on the serious business of trade. Expertise and the recognition of the limits of the areas of expertise is another limiting force on the WTO. The General Agreement on Tariffs and Trade was also limited in addressing many areas of the global economy or addressed them only on a piecemeal basis. The old version of the GATT created limited, a la carte agreements on government procurement and subsidies and engaged only a limited number of parties. The WTO has improved upon the GATT regime and now addresses agriculture, investment, services, and intellectual property. Not bad for only 50 years of work. The WTO is not like the old Ed Sullivan Show. It does not have an act to please every audience. Since its inception, efforts have been made to hijack the train of trade in the name of the environment," @default.
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- W575760408 title "The Limited but Important Role of the WTO" @default.
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