The Pros And Cons For The Structure Of International Trade

Politics plays a significant role in why there is no free trade anywhere on Earth. It is worth noting that the political system is dynamic, and that the parliaments/Congresses or presidents that are reviewing and voting on trade agreements may be ones that were not in office when the treaty negotiations began. In cases like this, the government may be less likely to approve the agreement or it may require different policies be adopted in order for it to be ratified. For example, President Obama’s signature trade deals, the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), have both come under fire from both sides of the aisle for different reasons. More importantly, however, the presidential candidates from both major parties (Hillary Clinton and Donald …show more content…
I think the most likely outcome will be that current trends continue, and that the WTO will struggle to complete the Doha Round, and that in response more Regional Trade Agreements will be created in order to further the goal of global free trade. I believe that as stagnation continues to plague the WTO’s Doha Round, more and more countries will see their only opportunities at freer trade in such RTA’s, and that this will have a sort of snowball impact – that as more and more RTA’s are agreed upon, the more efficient and effective they will be seen by other states, making those states want to create their own RTA’s. I think that China, as well as Brazil and India, will continue to rise as economic powerhouses and will continue to exert influence in the WTO and other international bodies. I think that the United States will continue to try to negotiate RTA’s with nearby states, though I believe that any future presidents will be more careful with the negotiations and make sure that any deals will be supported by their friends in