For The Conversation: Professor John Quiggin explains why the World Trade Organisation will cease to exist as it has been in a matter of weeks, and what might come next.
In line with his usual practice, Prime Minister Scott Morrison has backed Donald Trump over the World Trade Organisation, criticising of China’s status in it as a “developing country”.
Critics of the intervention have pointed out that being a “developing country” doesn’t provide China with many benefit, and that Australia would be better off not taking sides.
But the debate, to use the cliché, is like arguing about the deck chairs on the Titanic.
In the absence of a surprising reversal from Trump, the World Trade Organisation will cease to exist as it has been in a matter of weeks.
More likely than not, it will never be revived.
The demise has been a long time coming.
