Challanges to Ensure that the Regulatory Framework Keeps Up with Changes in the Global Trade

Jelisavac Trošić, Sanja (2017) Challanges to Ensure that the Regulatory Framework Keeps Up with Changes in the Global Trade. In: Social and economic problems and challenges in the contemporary world. Institute of International Politics and Economics; Global Resource Management Program, Belgrade; Doshisa, pp. 234-254. ISBN 978-86-7067-236-9

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Abstract

The World is rapidly changing. Globaltrade after the 2008 global financial crisis is entering into an era of new challenges and opportunities. Globalization, structural changes, emerging markets, regional blocs new patterns ofinternationaltrade emerge and shiftin trade are some of newer developments. All new developments are raising questions about the appropriateness and resilience of existing policy frameworks in the field of international trade. Especially deadlock in negotiating the World Trade Organization (WTO) Doha Development Agenda has brought many suspicions about the trade system’s ability to respond to these challenges. In this paper we willtackle major changes in globaltrade, examine today’s WTO and try to answer the dilemma will this world trade system survive, become stronger and overcome all the changes, adapt to modern conditions and establish new priorities and rules in international trade.

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