Multilateralism beyond Doha

There is a fundamental shift taking place in the world economy to which the multilateral trading system has failed to adapt. The Doha process focused on issues of limited significance while the burning issues of the day were not even on the negotia...

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Bibliographic Details
Main Authors:	Mattoo, Aaditya, Subramanian, Arvind
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ADVANCED COUNTRIES ADVERSE CONSEQUENCE ADVERSE IMPACT AGRICULTURAL PROTECTION AGRICULTURE ARBITRAGE BANK POLICY BENEFICIARIES BOND BOND MARKETS BUDGETARY SUPPORT CAPITAL ACCOUNT CAPITAL ADEQUACY CAPITAL IMPORTERS CARBON CARTEL CLIMATE CHANGE CLIMATE CHANGE NEGOTIATIONS CODE OF CONDUCT COLLECTIVE ACTION COLLUSION COMMODITIES COMMODITY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITION POLICY COMPETITIVENESS CONDITIONALITY CONSUMER CONSUMER INTERESTS CONSUMERS CONTRIBUTION CREDITOR CROSS-BORDER FLOWS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT SURPLUS CURRENT ACCOUNT SURPLUSES DERIVATIVE DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING COUNTRY DIVISION OF LABOR DOMESTIC PRICES DUMPING DURABLE ECONOMIC ACTIVITY ECONOMIC ANALYSIS ECONOMIC CIRCUMSTANCES ECONOMIC INTEGRATION ECONOMIC LAW ECONOMIC PERFORMANCE ECONOMIC POWER ECONOMIC SECURITY ECONOMICS EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET ECONOMIES EMERGING-MARKET EMISSION REDUCTIONS EMISSIONS EMISSIONS TARGETS ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS ENFORCEMENT PROCESS ENVIRONMENTAL ENVIRONMENTAL ISSUES ENVIRONMENTAL POLICIES ENVIRONMENTAL PROTECTION ENVIRONMENTAL STANDARDS EQUILIBRIUM EXCESS DEMAND EXCESS LIQUIDITY EXCESS SUPPLY EXCHANGE RATE EXCHANGE RATES EXPLOITATION EXPORT BARRIERS EXPORT MARKETS EXPORTERS EXPORTS FINANCIAL ASSISTANCE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL OPENNESS FINANCIAL REGULATION FINANCIAL SECTOR FINANCIAL SECTOR LIBERALIZATION FINANCIAL SECURITY FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FLOW OF CAPITAL FOOD POLICY RESEARCH FOOD PRICE FOOD PRICES FOOD PRODUCTION FOREIGN ASSETS FOREIGN COMPETITION FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN FINANCIAL INSTITUTIONS FOREIGN GOVERNMENTS FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN MARKETS GDP GLOBAL ECONOMIC LANDSCAPE GLOBALIZATION GOVERNMENT ACTION GOVERNMENT BONDS GROSS DOMESTIC PRODUCT HOLDING HOLDINGS IMMUNITY IMPORT BARRIERS IMPORTS INCOME INCOME SOURCE INDUSTRIAL COUNTRIES INDUSTRIAL COUNTRY INFLATION INFORMATION TECHNOLOGY INSTRUMENT INSURANCE INTELLECTUAL PROPERTY INTEREST RATES INTERNATIONAL BANK INTERNATIONAL COOPERATION INTERNATIONAL ECONOMICS INTERNATIONAL SETTLEMENTS INVESTMENT BARRIERS INVESTMENT FLOWS INVESTMENT FUNDS JURISDICTION JURISDICTIONS LDCS LEGISLATION LIBERALIZATION LOW INCOME MARKET ACCESS MARKET MECHANISM METALS MIDDLE EASTERN MONETARY FUND MULTILATERAL TRADE NATIONAL SECURITY NATURAL RESOURCES OIL OIL PRICE OIL PRICES OIL RESOURCES OPEC OPEN MARKETS OUTPUT PARTICULAR COUNTRIES PERVERSE INCENTIVES POLICY INSTRUMENTS POLICY RESPONSES POLITICAL ECONOMY PORTFOLIO PORTFOLIO ALLOCATIONS PREFERENTIAL ACCESS PRICE BANDS PRICE FIXING PRICE INCREASES PRIVATE EQUITY PRIVATIZATION PRODUCERS PRODUCTIVITY PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PROSPERITY PROTECTIONISM QUOTAS RECESSION REGIONAL INTEGRATION REGIONAL TRADE REGULATORS RESPONSIBILITIES RETIREMENT RETURN RETURNS SAFETY NETS SALES SAVINGS SECURITY CONCERNS SETTLEMENT SETTLEMENT SYSTEM SHARE OF PROFITS SKILLED WORKERS SUPPLY CURVE TAX TAX CREDIT TELECOMMUNICATIONS TRADE BARRIERS TRADE DISPUTES TRADE DIVERSION TRADE LIBERALIZATION TRADE NEGOTIATIONS TRADE POLICIES TRADE POLICY TRADE TAX TRADING TRADING SYSTEM TREASURY UNDERVALUATION URUGUAY ROUND VALUABLE WAGES WEALTH WORLD DEVELOPMENT INDICATORS WORLD ECONOMY WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WORTH WTO
Online Access:	http://documents.worldbank.org/curated/en/2008/09/9892720/multilateralism-beyond-doha http://hdl.handle.net/10986/6950

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Summary:	There is a fundamental shift taking place in the world economy to which the multilateral trading system has failed to adapt. The Doha process focused on issues of limited significance while the burning issues of the day were not even on the negotiating agenda. This paper advances five propositions: (i) the traditional negotiating dynamic, driven by private sector interests largely in the rich countries, is running out of steam; (ii) the world economy is moving broadly from conditions of relative abundance to relative scarcity, and so economic security has become a paramount concern for consumers, workers, and ordinary citizens; (iii) international economic integration can contribute to enhanced security; (iv) addressing these new concerns - relating to food, energy, and economic security - requires a wider agenda of multilateral cooperation, involving not just the WTO but other multilateral institutions; and (v) despite shifts in economic power across countries, the commonality of interests and scope for give-and-take on these new issues make multilateral cooperation worth attempting.

Multilateralism beyond Doha

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