Trade Links: New Rules for a New World by James Bacchus Cambridge University Press, 2022

Trade Links: New Rules for a New World by James Bacchus Cambridge University Press, 2022 The author, Jim Bacchus, is a well-known figure in international trade circles. The WTO as an institution has turned out to be seriously flawed on three important grounds, producing: (1) no broad trade liberaliz...

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Bibliographic Details
Published in:World Trade Review 2023, Vol.22 (5), p.706-708
Main Author: Wolff, Alan Wm
Format: Review
Language:English
Subjects:
Agreements
Climate change
Economic development
Food security
International cooperation
International trade
Pandemics
Populism
Subsidies
Trade liberalization
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Summary:Trade Links: New Rules for a New World by James Bacchus Cambridge University Press, 2022 The author, Jim Bacchus, is a well-known figure in international trade circles. The WTO as an institution has turned out to be seriously flawed on three important grounds, producing: (1) no broad trade liberalization (the primary exception being the Information Technology Agreement); (2) relatively few new rules (banning agricultural export subsidies, reducing red tape at the border through the Trade Facilitation Agreement, and adding some disciplines over fisheries subsidies); and (3) binding dispute settlement, the most prominent feature of the WTO, did not survive, and is no more. Bacchus’ primary purpose in this book is not to cure the institutional defects of the WTO but to get its Members to address the major challenges of our time where trade has a role to play: climate change, threats to public health, providing food security, and fostering economic development of the poorest countries. With respect to fostering economic development, Bacchus calls for inclusion of the developing country members in the obligations of the WTO for their own good as well as for the health of the global trading system.
ISSN:1474-7456
1475-3138
DOI:10.1017/S1474745622000520