World trade system: challenges of the XXI century. Portan A.P.

The focus of the monograph is the present and future of the multilateral trading system (MTS) and the world trading system as a whole. During the post -war period, MTS achieved unconditional success, the top of which was the creation of the WTO in 1994, however, in the XXI century. The WTO was in a state of the deepest crisis, the causes of which were not only the problems that had accumulated over the years, such as regionalism, protectionism, the non-work of the consensus mechanism during decision-making, etc., but also a new nature challenges: the US-Chinese War, Covid-19 pandemic, global Technological split. Despite all the negative consequences for the global economy and the trade of these new challenges, the world has a firm belief that in the future the WTO should maintain its central position in the regulation of world trade. However, this requires serious measures to reform the WTO, to maintain MTS, as well as urgent operations to avoid the script in which the system will be fragmented. The worst scenarios can lead to a violation of global trade and the world, which will split into large trade blocks and where trade relations will be largely based on relative power, and not on the rules. During the period of the global crisis, it is more important than ever to maintain the desire and ability to cooperate, for multilateral negotiations, to preserve the rules in trade. The history of the 20th century gives clear examples of how exactly in the crisis of the state the determination and the ability to strengthen institutions and rules showed. This allows us to hope for overcoming the consequences of pandemia Covid-19, as well as the ability to cope with other new challenges of the global economy, which will give a chance to preserve the existing system based on the rules.