World Trade Organization's Role in Future Global Order Examined Amid Geopolitical Shifts
The World Trade Organization (WTO) is highlighted as a pivotal institution in the ongoing debate about the future of the global order. The discussion centers on the resilience and health of the 'liberal' or 'rules-based' world order, which is perceived to be largely created by the United States and its allies. This order is currently facing challenges due to geopolitical tensions, such as China's rise and its claims to Taiwan, Russia's actions in Ukraine, and the United States' unpredictable security and tariff policies. The WTO, along with other international bodies like the International Monetary Fund and the World Bank, plays a crucial role in maintaining this order by facilitating trade agreements and resolving disputes. The article suggests that while there are divergent views on the current state of this order, the interconnected nature of global trade and economic systems underscores the importance of these institutions.