Risks of a Disintegration of the Multilateral Trade Regulatory System as a Result of the Creation of Large Regional Trade Agreements

Student: Skodtaev Alan

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Master)

Year of Graduation: 2017

More and more often the multilateral trading system as represented by the WTO is considered obsolete and unable to maintain the proper level of international support, oversight and trade regulation. A lot of attention is being diverted towards a recent tendency of the creation of massive integration blocks, the so-called mega-regional trade agreements, which are often referred to as the replacement to the WTO. It is being said that today's multilateral trading system cannot compete with the pressure from a number of emerging deeply integrated large agreements. This paper analyzes the role of mega-regional trade agreements in today's world and explains why the risks, associated with the decay of the multilateral trading system have been greatly exaggerated.

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