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WTO 2.0: Governance of 21st century trade

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  • Richard Baldwin

Abstract

The cross-border flows of goods, investment, services, know-how and people associated with international production networks–call it ‘supply-chain trade’ for short–has transformed the world. The WTO has not kept pace. This paper argues that adapting world trade governance to the realities of supply-chain trade will require a new organization–a WTO 2.0 as it were. Reasoning on the optimal nature of the new organization is based on the nature of supply-chain trade, the nature of the disciplines that underpin it, and the nature of the gains from cooperation. Copyright Springer Science+Business Media New York 2014

Suggested Citation

  • Richard Baldwin, 2014. "WTO 2.0: Governance of 21st century trade," The Review of International Organizations, Springer, vol. 9(2), pages 261-283, June.
  • Handle: RePEc:spr:revint:v:9:y:2014:i:2:p:261-283
    DOI: 10.1007/s11558-014-9186-4
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    References listed on IDEAS

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    1. Richard Baldwin & Javier Lopez-Gonzalez, 2015. "Supply-chain Trade: A Portrait of Global Patterns and Several Testable Hypotheses," The World Economy, Wiley Blackwell, vol. 38(11), pages 1682-1721, November.
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    1. Obashi, Ayako, 2019. "Trade agreements with cross-border unbundling," Journal of the Japanese and International Economies, Elsevier, vol. 53(C), pages 1-1.

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    More about this item

    Keywords

    WTO reform; Supply-chain trade; Hold-up problems; F60; F55;
    All these keywords.

    JEL classification:

    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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