Reviving the WTO: A Sectoral Agreement on Semiconductors To Promote Economic Security

In Reviving the WTO, Mario R. Palacios and Petros C. Mavroidis propose a sectoral agreement on semiconductors as the initiative to reverse the current legislative stalemate in the World Trade Organization (WTO). They demonstrate how, if implemented, the agreement could prove to be the key factor in reviving the legislative function of this once-pivotal multilateral institution and in building economic security.

Palacios and Mavroidis demonstrate how their recommendation promotes non-discriminatory trade liberalization and addresses the concerns of many trading nations. They consider the ways in which the WTO could be updated and question why this has not yet taken place, as well as examining the contemporary state of world trade and the measures restricting the semiconductors market. In discussing the links between trade and power, the book incorporates theoretical and empirical perspectives on hegemonic stability to explore the limits of regulating international economic security.

Interdisciplinary in scope, the book is an essential guide for scholars and students of international economic law and trade law, especially those interested in regime decline and strategies for tackling this. Its insights will also be beneficial for policymakers, political scientists, lawyers and economists.