Question Q.10GS2GS2
What are the key areas of reform if the World Trade Organization (WTO) has to remain relevant in the present context of rising protectionism and trade wars?
Main Body
The WTO was established in 1992 after the Marrakech Accords and includes within its folds TRIPs, GATT, GATS, TRIMSede and other agreements.
Challenges faced by WTO:
1Limited currency => very few treaties signed in 20+ long tenure (ex: Fisheries agreement, Agreement on Agriculture etc.
2Ineffective dispute settlement body is blocked by USA.
3Lack of sullen in projecting a global order amidst trade wars => (Trump's Tariffs).
4Limited enforcement powers against using protectionism and resource nationalism by countries.
Measures and areas to reform:
1Speedy implementation of alternative dispute settlement procedure as decided in Latter (Ministerial Temptation) delayed since 2011 deadline.
2Effective enforcement of rules based order => limited customs etc (See Safes Clause).
3Remote inclusivity - effectiveness of special and offset conferences treatment and limited (Non-tariff barriers).
4Enforcement powers - via fines and sanctions.
WTO has potential to ensure rules based global order, but it must overcome its organizations and adopt neutrality.
159 words2 paragraphs
Conclusion
WTO has potential to ensure rules based global order, but it must overcome its organizations and adopt neutrality.
18 words
Examiner score
1/10Open original scan
Page 21
Topper
PRACHET
AIR 1932025
Subject & Paper
GS2GS2
Topic
Bilateral, Regional and Global Groupings affecting India
International Trade and WTO
WTO Reforms and Challenges
Writing Stats
177
Total words
2
Paragraphs
analytical
Tone