A New Model for Global Governance: Mutual Benefit of the WTO and FTAs

Abstract

Setting up Experimental Economic Development Zone and groping the way across the river is the successful experience of China's reform and opening up, which could be referenced for global trade governance. Similarly, Economic Integration (FTA) should be regarded as an experimental area of the global multilateral trade governance institutions (WTO). The tough contradiction between balanced development of trade and equally enjoying fruits of the development by all members along with deficiencies of the WTO multilateral trade governance institutions could be broken, through the practicality and experimental role of establishing FTA by seeking successful experience, regulations and mechanisms. And they will be applied to the WTO multilateral system to better make it a sound global trade governance institution. Consequently, the WTO and FTA of long‐term coexistence and complementary trend is a new pattern of global trade governance.