Escalating crisis in the governance of the global trading system

Abstract

Object: The crisis in the governance of the WTO multilateral trading system is manifested in the destruction of the negotiation process and decision-making within the rounds, virtually fruitless Ministerial Conferences and a protracted pause in the implementation of the dispute settlement mechanism. Crises and increased geopolitical tensions provoke national governments to use protectionist policy instruments that violate trade norms and rules adopted within the WTO. There is increasing attention to the problems of global trade from the IMF, the World Bank and the UN. The possibility of creating a new governing body for the global trading system under the auspices of the UN is being discussed. Target. The purpose of the study is to identify the main trends in the development of international trade relations that influence the deepening crisis in the management of the global trading system.
Methods: General scientific and special methods were used: the dialectical method of understanding international trade relations; methods of historical and logical analysis; comparative analysis methods; methods of statistical and structural analysis; methods of empirical research, identifying individual parts of an object, identifying cause-and-effect relationships; methods of systems approach.
Findings: The influence of modern trends in the field of international trade on the deepening crisis in the management of the global trading system is empirically substantiated, which is manifested in: the deepening disagreements among WTO member countries regarding the agenda and decision-making within the WTO; increasing geopolitical tensions; an increase in the types and number of violations of trade rules adopted in WTO agreements; increased attention to crisis phenomena in international trade by the IMF, World Bank and UN
Conclusions: Crisis phenomena in trade relations and increased geopolitical tensions provoke national governments to use protectionist policy instruments that violate trade norms and rules adopted within the WTO. The above allows us to speak about the validity and adequacy of the formulated research hypothesis and the achievement of the set goal.