That the World Trade Organization (WTO) has been in the grip of a systemic crisis since 2008 is well known. Notwithstanding relatively minor successes at the Bali Ministerial in December 2013, the WTO's negotiating function remains effectively stalled. The Nairobi Ministerial, set to take place in December 2015, is not likely to yield systemic solutions, notably to break the Doha Round impasse. The longer this negotiating stalemate endures, the more the WTO's foundations will crumble, particularly the much-prized jewel in its crown: the Dispute Settlement System.
In the face of fierce opposition to its plan to enshrine far-reaching rights for foreign investors in the EU-US trade deal, the Commission is trying to appease the critics with a ‘reform’ agenda for investor-state arbitration. The reforms are remarkable in line with the big business lobby agenda.