The same studies also note that it was market-oriented Chinese economic reforms - often in response to WTO/accession requirements (& Member demands) - that drove most of the China Shock. Other studies also show the US gained jobs in other sectors & saw big consumer/gdp/mfg gains
So is the WTO now Bad for encouraging all of those market-based reforms? Is it also Bad for providing a venue for the USA to successfully litigate disputes against China (and for China to often comply)?
Or is the WTO now Bad bc the USA & other members didn't bring more cases or pursue compliance proceedings? Is it the WTO Bad bc the US abandoned the multilateral system (and the TPP) and pursued a foolish unilateral approach? (see today's WSJ: )
(p.s. And none of this excuses the total gibberish Hawley originally wrote abt the WTO and, eg, US agriculture)
The WTO has problems re decisionmaking & certain discrete issues like development flexibilities (which are overblown, btw), but it provides a good baseline set of rules & very effective dispute system (until the US blew it up). And the latter FAR outweigh the former.
(p.p.s. I also love how "replacing it" (w/ no elaboration) is, like, super obvs & easy. The WTO has 164 members & took years - decades if you include the GATT stuff - to complete. We couldn't even do an 11-Member TPP or a deal w the EU. But, sure, "replace it". 👌 lol)
