In spite of the failing DDA, trade governance is at work better than any other governance of global issues. In addition to the rule-based system and the solid institutions, trade governance is being enriched by WTO jurisprudence and new agreements. However, trade governance has to catch up with new trade trends such as changed power structure, digitalized economy, fair trade, global value chain, proliferation of RTAs and so forth. Above all, finding an alternative for the brain-dead DDA is urgent. Instead of reviving DDA with the old format that does not reflect the changed trade environment, it is worth trying a large scale RTA among the selected nations dedicated to free trade and upgrading trade governance. By doing so, the ailing world economy can be boosted by trade, and WTO can be woken up from complacency and lethargy.
Global Trade and Customs Journal