Abstract
Across history, all successful human civilisations have engaged in one form of cross-cultural trade or another. Following decades of contested but successful trade multilateralism under the General Agreement on Tariffs and Trade (GATT) established in 1947 and the World Trade Organization (WTO) established in 1995, hybrid governance structures characterize the global trade system of the 21st century. In this system, multilateral, regional and bilateral institutions provide overlapping and separate rules and regulations for the conduct of global trade. Meanwhile, global trade is widely perceived as a key arena within which we need to address key challenges, from climate change and big data, to economic and social inequalities within and between countries. This work reviews the history, politics, and recent trends and challenges of the global trade system.
