THE WTO AT A CROSSROADS: A CRITICAL ANALYSIS OF INSTITUTIONAL ACHIEVEMENTS AND SYSTEMIC CHALLENGES
THE WTO AT A CROSSROADS: A CRITICAL ANALYSIS OF INSTITUTIONAL ACHIEVEMENTS AND SYSTEMIC CHALLENGES

Summary/Abstract: This article offers a comprehensive examination of the World Trade Organization (WTO), analyzing its institutional successes and systemic challenges over the past decades. Since its inception following the Uruguay Round the WTO has become an important actor in global economic governance by enhancing trade capacity, reducing tariffs by nearly half, and integrating major economies like China and Russia into a rules-based multilateral system. Central to the organization’s success is its dispute settlement mechanism, which has historically transformed international trade relations from a "rule of power" to a "rule of law," offering greater security for both developed and developing nations. However, the organization currently faces significant hurdles, including the protracted deadlock of the Doha Development Agenda, resource limitations, and the increasing complexity of behind-the-border issues, such as environmental and health standards. By examining landmark disputes such as the EC-Hormones case, this study highlights the procedural difficulties in achieving equity for developing members and the pressure to implement a broader set of global rules. The article concludes that while the WTO remains a successful and indispensable framework for global trade, its future effectiveness depends on urgent institutional reforms to enhance transparency, update decision-making processes, and address the specific needs of the 21st-century global economy.

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