CEPR Policy Insight No 64 argues that adapting world trade governance to the realities of supply-chain trade will require a new organisation – a WTO 2.0 as it were.

The world of international commerce has changed radically over the past years due to the rise of supply-chain trade. This column argues that the WTO has not kept up with the need for new rules governing the intertwining of trade, investment, intellectual property, and service. Bring these rules to the multilateral level will require the establishment of a new international organisation – a ‘WTO 2.0’.