Killing the WTO

By: Katayoon Beshkardana

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The World Trade Organization (WTO) is beyond repair and cannot be reformed. When born, the WTO was seen as a unique organization unencumbered by the shortcomings of its predecessor the General Agreement on Tariffs and Trade. The WTO Appellate Body was seen as a jewel on the crown of the rule- based multilateral trading system, an establishment that objectively resolved trade disputes among nations and enforced its decisions against those who violate multilateral trade rules. The inability to produce new rules that address the realities of a rapidly evolving global marketplace, the exploitation of exceptions such as the national security clause, and a defunct adjudicative body unable to settle trade disputes, have rendered the institution structurally incapable of fulfilling its mandate. Drawing upon Taleb’s theory of antifragility, this Article suggests that the life of the WTO should come to an end as an international organization that was once perceived to best serve the multilateral trading system.