International Trading System

We showcase "Recommendations for Restoration of a Rules-Based International Trading System" by the Research Group from the distinguished trade policy experts worldwide on the International Trading System led by the Japan Economic Foundation. We hope this would contribute to "Revival of the WTO".

Recommendations for Restoration of a Rules-Based International Trading System
by Research Group on the International Trading System led by the Japan Economic Foundation

January 31, 2025
Japan Economic Foundation

Contents

Introductory Remarks
Introductory Remarks by Shujiro Urata

Chapter 1　Restoration & Enhancement of WTO Functions
(1 Special Remarks) Global Trade Governance by Alan Wm. Wolff

Section 1　Restoration of Dispute Settlement Function
(1-1.1) Overview of the Issues that WTO Dispute Settlement Faces by the JEF Secretariat

Section 2　Enhancement of Legislative Function Through Expansion of Plurilateral Agreements
(1-2.1) Reimagining Plurilateral Trade Agreements in the Indo-Pacific by Han-koo Yeo
(1-2.2) International Rulemaking Concerning the Cross-Border Free Flow of Data by Kojiro Fujii & Shunya Muromachi

Section 3　Use of MPIA, an Alternative Dispute Settlement System to the WTO's Dispute Settlement Function
(1-3.1) The MPIA as a Sub-Optimal Solution to Restore WTO Dispute Settlement by Joost Pauwelyn
(1-3.2) Would the US Join an MPIA? by Simon Lester
(1-3.3) Beyond the MPIA: A Rules-Based Solution to the Appellate Body Crisis by Henry Gao

Chapter 2　Expansion of Regional Agreements
Section 1　Current Status & Issues of the CPTPP
(2-1.1) The CPTPP: Past, Present, & Future by Jeffrey J. Schott
(2-1.2) Requirements for China to Join the CPTPP by the JEF Secretariat

Section 2　Current Status and Issues of the RCEP
(2-2) Regional Comprehensive Economic Partnership: Issues & Challenges by Jayasiri Jayasena

Chapter 3　Economic Security Aimed For by the IPEF
Section 1
(3-1) Economic Security, the Indo-Pacific Economic Framework & a New American Consensus on Trade by Inu Manak
Section 2
(3-2) Friend-Shoring Reconsidered by Satoshi Inomata

Chapter 4　Significance of the Linkage Between the CPTPP & the EU in Complementing the Legislative Function of the WTO
(4) The CPTPP & the EU Working Together to Revive the International Trade Order - by Creating an International Trade Law ("CPTPP 2.0") that Squarely Incorporates the Economic Security Perspective & by Encouraging the US to Join it by Akihiko Tamura

Chapter 5　Dealing with the Negative Aspects of Free Trade
Section 1
(5-1) Helping Those Left Behind by Trade by Edward Alden
Section 2
(5-2) Economic Impact of the Expansion of the CPTPP by Kenichi Kawasaki
Section 3
(5-3) Obstacles to Trade Liberalization by Kazuhito Yamashita

Closing Remarks
Closing Remarks by Masakazu Toyoda