The world trading system, embodied in the World Trade Organization (WTO), is in great peril and lacks a real champion, notably neither the U.S. nor China — the top two global trading countries. The notion of multilateral trade liberalization and the system that provided stability, order and prosperity in the global economy for more than 75 years is being undermined by protectionism and economic nationalism on many fronts. Sadly, neither U.S. presidential candidate shows any sign of seeking to reinvigorate the WTO, so the prospects for resuscitation are dismal.

A major Canadian casualty of the current WTO paralysis is the never-ending softwood lumber dispute with the U.S.{ai:summary}<p>The global trading system, represented by the WTO, is under threat due to rising protectionism and economic nationalism, with no strong leadership from major players like the U.S. and China. Current U.S. presidential candidates show little interest in revitalizing the organization.</p><p>The future of multilateral trade liberalization appears bleak, jeopardizing the stability and prosperity established over the past 75 years. #economy</p>

Derek Burney: Future looks dim for the embattled World Trade Organization

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