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Trade multilateralism in the twenty-first century faces a serious
test as weakness in the global economy and fast-paced technological
changes create a challenging environment for world trade. This book
examines how an updated and robust, rules-based multilateral
framework, anchored in the WTO, remains indispensable to maximizing
the benefits of global economic integration and to reviving world
trade. By examining recent accessions to the WTO, it reveals how
the growing membership of the WTO has helped to support domestic
reforms and to strengthen the rules-based framework of the WTO. It
argues that the new realities of the twenty-first century require
an upgrade to the architecture of the multilateral trading system.
By erecting its 'upper floors' on the foundation of existing trade
rules, the WTO can continue to adapt to a fast-changing environment
and to maximize the benefits brought about by its ever-expanding
membership.
What have WTO accessions contributed to the rules-based
multilateral trading system? What demands have been made by
original WTO members on acceding governments? How have the acceding
governments fared? This volume of essays offers critical readings
on how WTO accession negotiations have expanded the reach of the
multilateral trading system not only geographically but also
conceptually, clarifying disciplines and pointing the way to their
further strengthening in future negotiations. Members who have
acceded since the WTO was established now account for twenty per
cent of total WTO membership. In the age of globalization there is
an increased need for a universal system of trade rules. Accession
negotiations have been used by governments as an instrument for
domestic reforms, and one lesson from the accession process is that
there are contexts which lead multilateral trade negotiations to
successful outcomes even in the complex and multi-polar
twenty-first century economic environment.
Twenty-first century Africa is in a process of economic
transformation, but challenges remain in areas such as structural
reform, governance, commodity pricing and geopolitics. This book
looks into key questions facing the continent, such as how Africa
can achieve deeper integration into the rules-based multilateral
trading system and the global economy. It provides a range of
perspectives on the future of the multilateral trading system and
Africa's participation in global trade and underlines the
supportive roles that can be played by multilateral and regional
institutions during such a rapid and uncertain transition. This
volume is based on contributions to the Fourth China Round Table on
WTO Accessions and the Multilateral Trading System, which took
place just before the World Trade Organization's Tenth Ministerial
Conference in Nairobi in December 2015.
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