WTO marginalisation will further fragment world trade

Significance

The failure of the Doha Round led states to focus on regional agreements instead, weakening global standards, and latterly US action has compromised the WTO's dispute resolution system. Azevedo's successor faces a daunting task to reverse the sidelining of the WTO and to reinvigorate global trade liberalisation.

Impacts

• Rising geopolitical tension will preclude the possibility of a new WTO trade deal to address state-aid concerns.
• Divergence from WTO rules will be incremental as long as major economies worry about jeopardising their COVID-19 recovery.
• The delay of the WTO Ministerial Conference from June 2020 to next year gives the new head a chance to shape the agenda.