For a number of years now, the World Trade Organization (WTO) has been in crisis. Among the challenges faced by the institution are a weakened capacity to negotiate for mutual gain, a dysfunctional system for settling disputes among WTO members, and an increasing disregard on the part of some members for the rules of the system. The challenge has always been to harvest shared benefits from trade cooperation among members with different needs and priorities.
Yet despite these difficulties widespread interest persists among members in restoring the WTO’s past effectiveness as a rule-maker, enabler and arbiter of trade relations. Alan Wolff, a distinguished former lawyer, government official, and Deputy Director-General of the WTO has written a comprehensive study addressing these challenges. The book traces the history of multilateral trade cooperation over the last 75 years, explains how the WTO works, and proposes ways of healing the trading system.
We welcome Alan Wolff to the TNIF virtual launch event for his book. Alan Wm. Wolff is a distinguished visiting fellow at the Peterson Institute for International Economics. Until joining PIIE, he was deputy director-general of the World Trade Organization (WTO). His guidebook to the WTO, its past, present and future, Revitalizing the World Trading System, has been selected by the Financial Times as one of the Best Books of 2023 – Economics, and is in wide use in universities around the world.