How the United States Affects the Autonomy of WTO:From the Perspective of Principal-agent Theory
In recent years,due to the emergence of domestic trade protectionism and the spread of hegemonic anxiety in the United States,coupled with its gradual loss of dominance of WTO rules,the United States has begun to restrict its authorization to WTO.In this regard,this paper analyzes the control mechanism of the United States over WTO autonomy based on principal-agent theory,and it is found that the United States affects the important matters of WTO such as personnel appointments and budgets through its veto power under consensus,thereby achieving its control over WTO.Given that the decision-making mechanism based on consensus is still the most likely decision-making mechanism to be accepted by all parties and the possibility of implementing reforms on it is extremely small,this paper suggests that efforts should be made to strengthen the internal functions of agents,optimize negotiation mechanisms and seek alternative solutions to help WTO overcome the decision-making difficulties.
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