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Episode 3: FTAs are IN, Permanent Trade Institutions are OUT
Permanent institutions like WTO and the EU are SOOO last century. Fast & flexible FTA's like CPTPP and RCEP are hot right now. The shift towards flexible FTAs means trade restrictions will fall and cross-border deals will be cheaper -- WHEN THINGS ARE GOING WELL. These deals don't always have the enforcement or dispute resolution mechanisms that the WTO does -- and they are much easier to walk away from than the EU.
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By globalism2 / Andrew HupertPermanent institutions like WTO and the EU are SOOO last century. Fast & flexible FTA's like CPTPP and RCEP are hot right now. The shift towards flexible FTAs means trade restrictions will fall and cross-border deals will be cheaper -- WHEN THINGS ARE GOING WELL. These deals don't always have the enforcement or dispute resolution mechanisms that the WTO does -- and they are much easier to walk away from than the EU.