ABSTRACT
The gradual regression of the Anglo-Saxon style of globalization in 2016 and the announcement of the Unites States’ withdrawal from the Trans-Pacific Partnership (TPP) by President Trump in 2017 highlighted that the multilateral trade system has entered a state of instability and various countries and people of different socioeconomic statuses are in a state of value disagreement. These situations cannot be explained simply from the perspective of trade; explanations based on value must be identified. Existing global trade systems have established a robust framework of WTO rules and basic principles based on the concept of the “most favored nation.” Moreover, the regulations of global trade are based on the General Agreement on Trade in Goods, General Agreement on Trade in Services, and Agreement on Trade-Related Aspects of Intellectual Property Rights. Why can World Trade Organization (WTO) rules not save the current trade system? We believe this system lacks spirit and basic value consensus.
