IDEAS home Printed from https://ideas.repec.org/a/oup/jieclw/v18y2015i3p679-696..html
   My bibliography  Save this article

How will TPP and TTIP Change the WTO System?

Author

Listed:
  • Gary Clyde Hufbauer
  • Cathleen Cimino-Isaacs

Abstract

The rise of new free trade agreements in the 1990s and early 2000s altered the dynamic of the World Trade Organization (WTO) as the arbiter of world commerce forever. Moreover, WTO negotiating rounds over the past decade have been beset with irreconcilable objectives among WTO members, with emerging market members fundamentally opposed to opening their markets to exports from advanced countries. The consequence was scant progress and missed deadlines, culminating in the failed Geneva Ministerial of 2008. At the Bali Ministerial in 2013, the WTO members could only muster strength to endorse the Trade Facilitation Agreement, while postponing action on numerous and more contentious Doha issues. The cumulative result is that the WTO is now at the back of the parade in addressing 21st-century trade issues. Two mega-regionals—the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP)—will undoubtedly change the multilateral trading system. This article assumes both negotiations will be concluded and ratified by 2018. However, even if neither mega-regional agreement succeeded, their negotiating objectives and ultimate stumbling blocks will shape the future of the WTO. If WTO members collectively reject the lessons, the institution will fade as an arbiter of commercial relations between nations.

Suggested Citation

  • Gary Clyde Hufbauer & Cathleen Cimino-Isaacs, 2015. "How will TPP and TTIP Change the WTO System?," Journal of International Economic Law, Oxford University Press, vol. 18(3), pages 679-696.
    • Handle: RePEc:oup:jieclw:v:18:y:2015:i:3:p:679-696.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/jiel/jgv036
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Miles Kahler, 2017. "Regional Challenges to Global Governance," Global Policy, London School of Economics and Political Science, vol. 8(1), pages 97-100, February.
    2. Latorre, María C. & Yonezawa, Hidemichi, 2018. "Stopped TTIP? Its potential impact on the world and the role of neglected FDI," Economic Modelling, Elsevier, vol. 71(C), pages 99-120.
    3. Salhi Roumeissa, 2020. "Impact of Delay on Cost Overrun in Construction Projects in Algeria," European Journal of Interdisciplinary Studies Articles, Revistia Research and Publishing, vol. 6, ejis_v6_i.
    4. Stephen, Matthew D. & Parízek, Michal, 2019. "New Powers and the Distribution of Preferences in Global Trade Governance: From Deadlock and Drift to Fragmentation," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 24(6), pages 735-758.
    5. Oręziak, Leokadia, 2015. "TTIP – Transatlantyckie Partnerstwo w sprawie Handlu i Inwestycji – źródłem zagrożeń dla gospodarki i społeczeństwa," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 2(4), pages 1-26, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:jieclw:v:18:y:2015:i:3:p:679-696.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/jiel .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.