In his book titled The Great Transformation, Karl Polanyi analyzed the social and political upheavals that took place in England during the rise of the market economy. The period referred by Karl Polanyi has long passed, but the global economic development is standing at a historical crossroad once again, in the era of globalization and free trade. Profound changes in international trade and investment governance have taken place in recent years. Among these changes, the crisis of the multilateral trading system with the World Trade Organization (WTO) at the center is outstanding and significant.