CiConsulta GeoPolitics 2020 Forecasts – The WTO will become ineffective

epa06894420 (FILE) - A full-loaded cargo vessel leaves a berth of the Aomi International Container Terminal, a port for import and export, in Tokyo, Japan, 25 January 2017 (reissued 17 July 2018). Japan and the European Union (EU) on 17 July 2018 signed the Japan-EU Free Trade Agreement (JEFTA), the biggest trade deal signed by the EU to date.

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As of the end of December 2019, the WTO will no longer be able to resolve disputes between its members due to a lack of judges on its appellate body. In short, this will mean that the global trade picture will become even more of a battle between the weak and the strong. There are initiatives to bring into place alternative solutions, but it is only the WTO which has the standing to offer a long lasting answer. Next year will look even more dire on the global trade war front, unless something drastic changes. 

Ci Consulta’s Geopolitics Consultant Matthew Bugeja’s 2020 forecast can be accessed here 

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