Modern economic relations between countries are no longer regulated by international law and its institutions. The World Trade Organization has ceased to function as it previously did after the United States withdrew from this international structure, which was foundational to them. Economist Mohamed El-Erian, who we were well acquainted with a year ago, whose rhythm was tuned to the tempo of countries' struggle for maximum profit within the framework of the global labor distribution system in society with their relative and absolute advantages in global commodity and service markets.
Against the backdrop of the permissive system of trade disputes within the World Trade Organization, a trend of uncertainty has emerged since the moment the USA began blocking the admission of new members to the Appellate Body of the WTO. This analogy is relevant to the parallels of this body, which is a crucial part of the trading system. This situation allows the countries that fall under sanctions or decisions of the Appellate Body to ignore them, which weakens the role of the WTO in resolving trade disputes.
Problems in the work of the Appellate Body of the World Trade Organization inevitably lead to the degradation of the entire system of resolving disputes in trade. Critics of this development note that the absence of a functioning Appellate Body hinders the effectiveness of international trade relations.
