The Future of the World Trading System After 2017 and the Interests of the European Union

Abstract

The aim of the article is to analyze of the future of the world trading system from the perspective of the interests of the European Union under the conditions of the growing position of emerging economies in international trade and the role of the United States in Eurasia. The article uses the analysis of statistical data and recent political and economic subjects relating to the world trading system. The study presents a diagnosis of membership benefits of China and other emerging economies in the WTO, the WTO membership enabled to become the main actor in international trade. The article analyzes of statistical data, the causes of the failure of the Doha Round negotiations, studies the negotiating positions of WTO members in the context of the possibility of the resumption of multilateral negotiations of the Doha Round. Trade liberalization in a multilateral context (WTO) and in bilateral trade agreements associated with incurring high social and economic costs in the European Union. The failure of the Doha Round was due to the weak benefits achievable through multilateral trade liberalization and the reluctance of developing countries to implement the liberalization of international trade including the Singapore issues.