A traditional economy is generally defined as: “An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. In an economy, the production and consumption of goods and services are used to fulfill the needs of those living and operating within it.” [4] Resources generally referring to natural resources such as oil, gas, minerals, and … Continue reading Scope of the Digital Economy

As mentioned earlier, the WTO has three pillars to keep it running, to monitoring trade policies globally, provide a forum for negotiations on new issues, and to enforce the 60 plus agreements under the WTO and settle disputes between Member states. The functioning of these three pillars is crucial, and although it may sound simple: negotiations for new trade rules, monitoring and resolving disputes, none … Continue reading The barely functioning and non-functional pillars of the WTO

In an US election year, then President Obama as represented by the United States Trade Representative (USTR) began a risky precedent. That 2016, the US blocked the reappointment of Appellate Body jurist Seung Wha Chang. Chang was up for a reappointment as the norm is that the jurists serve for four year terms that can be renewed once. The US complained that Chang was responsible … Continue reading Bully capitalism versus the Appellate Body

Breaking it down to sections, it can be noted that there are stages to this process: the first is the consultation process, second the review and reporting of the panel body then the Appellate Body from which comes the recommendation and ways on the implementation of the ruling which may include sanctions, countermeasures, retaliatory measures or compensations. In some cases, Arbitrators are involved in the … Continue reading Breaking down the Dispute Settlement Mechanism