UPSC CSE MAINS SYLLABUS- GS – 2- Important International institutions, agencies and fora- their structure, mandate.

Multilateral Trade Frameworks – Issues

WTO will be facing a severe existence and functional crisis. Trade rules have worked best when the global economy is booming and isn’t facing a crisis. Post 2008 economic crisis the WTO faced a similar situation. But now it is far worse.


Trade frameworks:

So going forward, much of the churning is going to get bigger in regional formations. If in three months, we don’t get back on track, then there will be a substantial rewriting of the rules.

The G20 leaders’ and trade ministers’ meet should reflect on global rules being in further jeopardy. If they have to work out flexibilities within the WTO framework, they should do it collectively.

Source:” Hindu”


In the post COVID 19 pandemic world what kind of problems do the WTO face ? What could be the status of multilateral trade frameworks?