CHANGES IN THE EFFICIENCY OF INTERNATIONAL ECONOMIC ORGANIZATIONS AND THE MEANS OF STATE TRADE REGULATION AS A CONSEQUENCE OF GLOBAL TRANSFORMATIONS
Abstract
The article takes on the issues of the effectiveness of international economic organizations and measures of state regulation of trade in the context of modern international economic relations. Particular attention is directed to the factors of trade interdependence and other effects that have formed as a result of global transformations of the world economy. The problem of excessive dependence of organizations on the decisions of the parties interested in escalating and prolonging conflicts is analyzed and taken into account for detailed evaluation of effects on the global diplomacy. The article also includes a study of individual cases of separate organizations and the main causes of issues that negatively affect the effectiveness of their activities. Such an analysis includes an assessment of the concept of irrational actors in the context of the realistic theory of international economic relations, considering the current landscape of the world economy and diplomatic relations. The article touches upon the topic of inefficient approach to trade dispute management and general issues present in the main international economic organization – WTO. The failure to meet its core goals and establish a harmonized system of economic law is presented as one of the main weaknesses of the World Trade Organization, along with its inability to maintain a same-level ‘field’ for its major parties. A general assessment of the impact of the irrationality of countries with the most developed economies on the work of international organizations and the functionality of international law is added as one of the core points of the article. As the result of analysis, the basis for changes in the functionality of international economic organizations, which could contribute to increasing efficiency and ensuring the balancing of the negative effects of irrational decisions and economic and diplomatic escalation is proposed. Despite the presented analysis, the topic of this article requires deeper evaluation and analysis of the potential changes that may be brought by political changes in some of the countries with the most developed economies in the world.
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