The WTO operates as a democracy and it is said that democracies fail when the citizens ask for more than it can deliver. The Trump Administration goes to war with a majority of the WTO members at the next General Council meeting on 15 October. It will press its case that countries cannot concurrently claim the benefits of being a rich country (membership in the OECD and G20, plus World Bank high income status, and carry large trade surpluses), and proclaim a right to special and differential treatment (S&DT).  Most WTO member countries claim developing country status and they support the approximately 30 countries wanting to have their cake and eat it too. Developing countries say they need S&DT to “access and benefit fr...

TAGS – Asia, China, Middle East & Africa, North America, South America, Macroeconomics