Topic: Important International institutions, agencies and fora- their structure, mandate
6) Highlight the issues in dispute resolution process of WTO?(250 words)
Key demand of the question
The question expects us to discuss the dispute resolution process of WTO and thereafter examine the issues and discuss way forward.
Structure of the answer
Introduction – Highlight that many analysts have said that Buenos Aires summit has highlighted the existential crisis faced by WTO especially during a time when emerging economies have adopted assertive and developed economies have adopted protectionist attitude.
Body
- Explain about the structure of dispute resolution at wto and issues caused by USA.
- The nature of the trade disputes is now increasingly getting hypertechnical. Despite this, the WTO currently faces a trade dispute settlement crisis. The U.S. has systematically blocked the appointment of new Appellate Body members (judges). This has impeded the work of the WTO appeal mechanism.
- The WTO dispute settlement mechanism is not a world trade court. The process remains political and diplomatic. In trade wars, the objective is not to settle a dispute; it is to win the battle.
- WTO members are thus concerned over the politicisation of the Appellate Body appointment and reappointment process.
- there is concern over the possibility of China finding its way to have a permanent seat.
- Discuss china’s prospect
- Despite limitations ensured by US and EU, China has largely benefited from the rules-based WTO system. It might well be the new WTO leader in the coming future. China’s growing assertiveness, in fact, may be the reason for the U.S.’s hard measures. Its emerging power and the impact of its commercial domination on other economies are evident.
- Highlight the way forward
- Emerging economies and developing countries should have their fair say
- Multilateralism in such institutions must be encouraged
Conclusion – give your view and discuss way forward.
