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Why has the operation of the WTO dispute settlement procedure become politically contentious?
Member rating: No Rating | Words: | Submitted: Tue Jun 20 2006
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Why has the operation of the WTO dispute settlement procedure become politically contentious? On the 1st January 1995 after complex negotiations the 'new economic international organization called the World Trade Organization (WTO)'1 was founded. The new dispute settlement procedures, and in particular the dispute settlement understanding (DSU) are an extremely important part of the new organization. So much so, that the WTO itself views the procedure as the "central pillar of the multilateral trading system, and the WTO's unique contribution to the stability of the global economy."2 The WTO and its dispute settlement body (DSB) has been a relative success to that of its predecessor, GATT (General Agreement of Trade and Tariffs). There has been a lot of change from GATT, with a more legalistic approach being taken. Pre-1995 diplomacy rather than law was the predominate tool used in trade disputes. Since then the WTO has "introduced a remarkably efficient and...
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