In recent years, the world trading system has been confronted by a range of new and developing challenges: the risk of climate change, the instability of the digital economy, the ongoing impacts of COVID-19 and the threat of future pandemics, to name but a few. In this book, veteran trade negotiator, Ambassador Alan Wm. Wolff, draws from his years of experience at the World Trade Organization to consider the history of trade, the current trading system and how it should be reformed in the future. Offering a rare insight into the inner workings of the WTO, Wolff is uniquely placed to identify deficiencies in the current system and suggest actionable solutions. This essential guidebook to the WTO equips readers with the tools and knowledge required to tackle to emerging and emergent challenges of a global trading system.

Winner, 2023 Best Book of The Year - Economics, Financial Times

‘This book provides a wealth of new ideas. For some of the problems of the WTO, Wolff offers solutions that have never been tried before or not even thought of. His book provides guidance for a strategy that allows for gains and sacrifices to overcome opposition. He shows new ways to overcome hitherto unsurmountable obstacles.'

Karl Brauner - Former Deputy Director-General of the WTO, and Former Director General for Trade in the Economics Ministry of Germany

‘The WTO, a vital pillar of global economic governance, remains in serious trouble. Drawing upon decades of trade policy experience, Alan Wolff explains why and, more importantly, what to do about it. This volume is essential reading for senior trade policy officials, analysts, and students of the world trading system.'

Simon J. Evenett - University of St. Gallen

‘Alan Wm. Wolff's book is comprehensive and insightful, drawing on his extensive working experience inside and outside the GATT/WTO. He discusses with precision and clarity the origins, evolution, substantive content, and day-to-day workings of the WTO, and suggests ways of improving the workings of a troubled institution. Overall, a valuable contribution.'

Patrick Low - Former Chief Economist of the WTO

‘This book is an essential reference for any trade enthusiast wishing to make a positive contribution in the face of the many challenges confronting the Multilateral Trading System. In a rapidly changing and increasingly complex trade landscape, this book goes beyond addressing the future of the WTO and looks at the WTO of the future.'

Hamid Mamdouh - Former Director, Services and Investment Division of the WTO, and Former Egyptian Delegate to the GATT

‘Wolff, former deputy director-general of the World Trade Organization, has written the definitive guide to the past, present and possible future of the multilateral trading system. Somewhat surprisingly, given rising hostility to the WTO and trade itself in the US, his own country, and the lack of enthusiastic support elsewhere, notably including China and the EU, he is optimistic: ‘Autarky cannot be achieved … There can be no decoupling of major economies except at unacceptably high cost.’ The WTO is the only place where the needed international co-operation can be sustained because it, like trade itself, is global.’

Martin Wolf Source: Financial Times - Best Economics Books of 2023