They say leading the IMF is like commanding the Red Army (top-down, hierarchical, fiercely cohesive) and running the World Bank like chairing a university social studies faculty (bureaucratic, fractious, ideologically riven). Heading up the WTO these days must be like operating a stable where all the horses are dead, dying or struggling to stand up.
The WTO’s negotiating function has all but seized up. The Doha round has crashed. The fate of plans for a plurilateral deal on services is unclear – and opposition from some emerging markets might force the agreement to be negotiated outwith the WTO. Brazil has made valiant attempts to get the WTO to address currency misalignments, but China has predictably squashed them. Read more