Protectionism as challenges for the global trade governance

Abstract

The author of this chapter addresses a serious global economic condition affected by protectionism and offers a summary of possible outcome of protectionism. Focusing on the global trade governance, the chapter draws attention to the development of global trade system and the WTO as the new global trade governance. Park also investigates and analyzes various challenges for the WTO on how to restore and strengthen its global governance although its capability is rather limited due to spreading protectionism rapidly. Additionally, Park explores reasons and impacts of protectionism that will affect the global trade governance.