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Challenges to the multilateral trading system and possible responses


  • Panagariya, Arvind


This paper develops three major themes. First, the atmosphere of gloom around the multilateral trading system due to dim prospects of a successful conclusion of the Doha Round notwithstanding, global trade regime remains open and the institution in charge of it, the World Trade Organization, is in sound health. If anything, the Doha Round has been a victim of its own success: considerable de facto liberalization in agriculture has been achieved since the launch of the round. Second, to secure the future of the multilateral trading system, it is nevertheless crucial that the Doha Round is brought to a conclusion even if in a highly diluted form. The damage to the system from an outright failure will be very substantial. Finally, closing the Doha Round will require the United States leading the negotiations. Suggestions that as the largest merchandise exporter, China should now take the lead are frivolous.

Suggested Citation

  • Panagariya, Arvind, 2013. "Challenges to the multilateral trading system and possible responses," Economics Discussion Papers 2013-3, Kiel Institute for the World Economy (IfW).
  • Handle: RePEc:zbw:ifwedp:20133

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    References listed on IDEAS

    1. Andrew K. Rose, 2004. "Do We Really Know That the WTO Increases Trade?," American Economic Review, American Economic Association, vol. 94(1), pages 98-114, March.
    2. Arvind Panagariya, 2000. "Preferential Trade Liberalization: The Traditional Theory and New Developments," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 287-331, June.
    3. Arvind Panagariya, 2005. "Agricultural Liberalisation and the Least Developed Countries: Six Fallacies," The World Economy, Wiley Blackwell, vol. 28(9), pages 1277-1299, September.
    4. Arvind Panagariya, 1996. "The Free Trade Area of the Americas: Good for Latin America?," The World Economy, Wiley Blackwell, vol. 19(5), pages 485-515, September.
    5. repec:wsi:wschap:9789812815330_0001 is not listed on IDEAS
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    Cited by:

    1. Krebs, Oliver & Pflüger, Michael P., 2015. "How Deep Is Your Love? A Quantitative Spatial Analysis of the Transatlantic Trade Partnership," IZA Discussion Papers 9021, Institute for the Study of Labor (IZA).

    More about this item


    World Trade Organization; Doha Round; multilateralism; regionalism;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration

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