{"id":66934,"date":"2026-02-17T18:29:08","date_gmt":"2026-02-17T12:59:08","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=66934"},"modified":"2026-02-17T18:39:40","modified_gmt":"2026-02-17T13:09:40","slug":"reform-global-trading-system","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/17-02-2026\/reform-global-trading-system","title":{"rendered":"Calls For Reform of Global Trading System"},"content":{"rendered":"\n<p><strong>Syllabus: GS2\/IR\/GS3\/Economy<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>In News<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Recently, the head of the World Trade Organization agreed with U.S. calls for reforming the global trading system, noting it is resilient but not robust.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Global Trading System and Role of WTO&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The World Trade Organization (WTO) is the sole global body governing international trade rules.<\/li>\n\n\n\n<li>It is aiming to ensure smooth, predictable, and free trade through agreements negotiated and ratified by member nations.<\/li>\n\n\n\n<li>It manages global trade rules, serves as a forum for negotiating agreements, resolves trade disputes, and supports developing countries.\u00a0<\/li>\n\n\n\n<li>Its decisions are made by member governments through ministers or representatives in Geneva.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Emerging Issues&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Rising Protectionism:<\/strong> Growing use of tariffs and trade barriers is weakening free trade norms.<\/li>\n\n\n\n<li><strong>Geopolitical Rivalries: <\/strong>Strategic competition among major powers is disrupting supply chains and markets.<\/li>\n\n\n\n<li><strong>Agricultural Disputes: <\/strong>Subsidies by developed nations distort trade, affecting developing countries.<\/li>\n\n\n\n<li><strong>Dispute Settlement Crisis:<\/strong> WTO\u2019s Appellate Body has been inactive since 2019, weakening rule enforcement.<\/li>\n\n\n\n<li><strong>Digital &amp; Climate Issues:<\/strong> Lack of global consensus on e-commerce, data flows, and carbon taxes is creating new trade tensions.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Suggestions&nbsp;<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Restore dispute settlement and update rules for digital trade, services, and sustainability.<\/li>\n\n\n\n<li>Strengthen the voice of developing countries, especially on agriculture and climate trade.<\/li>\n\n\n\n<li>Diversify sourcing to reduce overdependence and improve stability.<\/li>\n\n\n\n<li>Align trade policies with climate goals and promote green technologies.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Global trade is moving away from liberal multilateralism toward mercantilism, where trade is used as a tool of state power and national advantage.<\/li>\n\n\n\n<li>Therefore The global trading system needs urgent reforms to prevent fragmentation and trade conflicts, ensuring it remains rules-based, inclusive, and growth-oriented.<\/li>\n\n\n\n<li>India should back WTO reforms while safeguarding farmers and small industries.<strong>\u00a0<\/strong>\n<ul class=\"wp-block-list\">\n<li>India has opportunities in digital infrastructure, renewable energy, and services, but must strengthen institutions, social cohesion, and public investment to remain relevant in the emerging world order.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>Source :<a href=\"https:\/\/ddnews.gov.in\/en\/wto-chief-calls-for-reform-of-global-trading-system\/\" target=\"_blank\" rel=\"noopener\">DD<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong> In News <\/strong><\/p>\n<li class=\"ms-5\"> Recently, the head of the World Trade Organization agreed with U.S. calls for reforming the global trading system, noting it is resilient but not robust. <\/li>\n<p><\/p>\n<p><strong> Global Trading System and Role of WTO\u00a0 <\/strong><\/p>\n<li class=\"ms-5\"> The World Trade Organization (WTO) is the sole global body governing international trade rules. <\/li>\n<li class=\"ms-5\"> It is aiming to ensure smooth, predictable, and free trade through agreements negotiated and ratified by member nations. <\/li>\n<p><a href=\" https:\/\/www.nextias.com\/ca\/current-affairs\/17-02-2026\/reform-global-trading-system \" class=\"btn btn-primary btn-sm float-end\">Read More<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-66934","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/66934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=66934"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/66934\/revisions"}],"predecessor-version":[{"id":66937,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/66934\/revisions\/66937"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=66934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=66934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=66934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}