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New GI report looks at the future of trade and development
Posted on 1 December 2005
In a new report published by the Globalisation Institute, Dr Razeen Sally - Europe's most senior trade economist - says the WTO is becoming ineffective. Hyperinflation of the membership has almost crippled decision-making. The WTO has become much too politicised, buffeted by external criticism and with deep internal fissures.
In the report, he suggests what needs to happen to the WTO to get it back on track, but also argues that instead of relying on the WTO to lower protectionism, countries should follow a Nike strategy - they should "Just Do It!" Because getting rid of tariffs is good regardless of whether other countries do the same, we should liberalize anyway. Moreover, Dr Sally points out that the big successes in free trade are already coming "from below", rather than thanks to international institutions and agreements.
Download the report (PDF): 2005 and Beyond: The Future of Trade, Development & International Institutions.