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The World Trade Organization (WTO) is in the midst of the greatest crisis in its 25-year history. As announced, his previous CEO, Roberto Azevedo, resigned on Monday.
The Brazilian will move to the US beverage company PepsiCo. It is not yet clear who will succeed him. So far, eight candidates have run for the leadership position, but the US government wants to bring an American to office. That, in turn, meets resistance from China and Europe. This threatens a management vacuum that will last for months, at a time of growing conflicts and trade barriers.
“This is indeed a new low point, although unfortunately not unexpected, for the WTO,” said Canadian economist Rohinton Medhora, president of the Center for Innovation in International Governance. “The organization has been without direction for some time, more precisely for several years, and now it will function without a leader.” The WTO appeals court, which decides on international trade disputes, is already paralyzed by Washington’s blockage of appointing new judges.
