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Thirty Latin american leaders warning of the risk of a terminal crisis of the WTO

In full onslaught of president Donald Trump against the international trade, a group of leaders, experts and politicians retired Latin americans show their conc

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Thirty Latin american leaders warning of the risk of a terminal crisis of the WTO

In full onslaught of president Donald Trump against the international trade, a group of leaders, experts and politicians retired Latin americans show their concern for the situation of the World Trade Organization (WTO). The 28 drivers on the manifest –including former ministers, ambassadors, and professors of Latin american Universities - criticise the united States for blocking the appointment in the Appellate Body of the WTO –responsible for attending to the differences between the countries-members. This lock, according to warn the signatories, could lead to the “ineffectiveness” of the agency by the end of 2019.

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The manuscript, which is spearheading Enrique V. Iglesias, former president of the IDB and former foreign of Uruguay, recalls the problems facing the multilateral trading system; and alert of the “terminal crisis” of the WTO and of the need to take measures to preserve their existence. To do this, cratosslot it is necessary to “reform it and adapt it to the new demands of the global economy,” said the signatories.

responsible for The writing praise the characteristics of an organism that is based on the equality of its 164 members. “The great merit of the WTO is in its fundamental principles, to which all member countries have committed to respect. Are key non-discrimination [...], the reciprocity and transparency”, they assure. The option, according to the promoters of the initiative, is to choose between “a business governed by” rules or set aside the WTO and entering into another model that prime political power. “In this last scenario, developing countries would be most affected,” he adds.

Churches and other leaders like the former minister of ecuador Nathalie Cely or the senator chilean Ricardo Lagos Weber to criticize the growing trend of bilateral agreements, which limit the WTO in its capacity to address new issues, thereby weakening the organism. To reverse this process, the signatories requested the strengthening of the functions of the WTO as manager of commercial agreements and the resolution of disputes. “This challenge can not be addressed without the U.S., but not China,” he added.

“The reform and modernization of the WTO to defend multilateralism is the main challenge. To adapt to the new times and demands, it is imperative,” the letter concluded, pointing to the next G20 meeting in Buenos Aires as the appropriate forum in which to address this question. “The deterioration of multilateralism and the politicization of the trade and investment threatens to bring the cold war to the TWENTY-first century in our region. Latin america should not allow this”, concludes the text.

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