Strengthening the WTO by stretching it much farther?

Aaditya Mattoo and Arvind Subramanian want to double-down on the world trading system:

[T]he current Doha agenda cannot adequately deal with all the challenges facing the trading system…

Is it realistic for the trading system to aim for a broad agenda that includes exchange rates, environment, state aid, and oil and agricultural markets? Ironically, a bigger agenda that addresses the new concerns would improve the prospects of success because there would be greater scope for give-and-take between the major trading countries. China will have to recognize that its exchange rate policies can provoke a protectionist reaction; the United States and the European Union will have to refrain from excessive recourse to contingent and environmental protectionism and to subsidies; and emerging-market countries such as India will have to appreciate that keeping markets open will require an effort on their part to lower their significant trade barriers…

[T]he importance of issues that Doha does not address is becoming glaringly evident. It is in this sense that the world must now look beyond Doha.

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  1. Pingback: Trade Diversion » Blog Archive » Mattoo and Subramanian: Beyond Doha

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