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ThenewfaceoftheWorldTradeOrganization
Amongtheexpectedoutcomesofreadingthisbookislearning
abouttheinterplaybetweenmultilateraltradingsystemsandtrade
policyobjectives.Thisknowledgewillhelpthereadersaddressanin-
ternationaltradingenvironment’srequirements,indispensableforcur-
rentorfutureoperatingbusinessmen.Itwillenhancetheirexpertisein
theterminologyusedininternationaltrade,thebasicprinciples,rules,
andproceduresofthemultilateraltradingsystem,andtheresultsof
tradenegotiationsandMinisterialConferences.Thebook’sstructure
reflectsthispattern.
Sincetheprimarygoalistoidentifythemostimportantchallenges
fortheWTO’sdevelopmentinthetimeofpermanentuncertainty,the
authorsanalyseddiferentaspectsoftheWTO’srules,functions,and
role,andstatedtwopostulates:
P1:TheWTO,asthemainplayerininternationaleconomicdi-
plomacy,hastoadjusttothenewchallengesoftheglobaleconomy
immediately.Ithasnomoretimefordiscussionanddisputesbecause
businessontheglobalmarkethasbeenchangedduetotheeconomic
challengesofthe21stcentury,anditneedsnewrulesandprocedures
tobringbenefitsforitseconomiesaswellfortheglobaleconomy.
P2:Theideaofamultilateraltradingsystemisunderthreatbe-
causeofincreasingprotectionismduetovariouseconomic,political,
environmental,etc.crisesfacingtheeconomiesofthe21stcentury
withincreasingforce.Uncertaintyhasalreadybecomeapermanent
featureofthe21stcentury;hencetheWTOmustfindasolutiontoits
members’swiftandsolidaryresponsetonewchallenges.Weliveand
workinaVUCAenvironment:volatile,uncertain,complex,ambiguous
(Bennis,Nanus,1985),whereespeciallynowadays,thestriveforin-
novationbecauseofconstantchangesandcompetitionhasbecome
standard.
Thebookisorganizedinto11chapters.Chapter1presentsdif-
ferentapproachestoanddefinitionsofeconomicdiplomacyandits
roleandimportanceintheglobaleconomy.Itcharacterizesvarious