1

Module Title: International Business Principles and Practice

Module Code : BUS7C7

Module Leader : Kayleigh Cottam

Assessment Title : Portfolio

Student's Name

Student's ID

Launch Date : 23/09/2024

Submission Date

Table of Contents

Introduction………………………………………….………….3

Portfolio Task 1~ Annotated Bibliography…….…….………..5

Portfolio Task 2 ~ Report …………………………….………..11

Portfolio Task 3 ~ Poster……………………………………….28

Portfolio Task 4 ~ Reflective Practice…………………………34

Conclusion…………………………………...…………………..37

List of references…………….…………………………………..38

Introduction.

World Trade Organisation established in 1995 is an important institution in the

international trade system. Currently, the WTO has 164 member countries; its main

responsibility is to facilitate favorable trade, conduct negotiations, resolve controversies,

and lower trade concerns. Being established under trade liberalization mechanisms like

General Agreement on tariffs and Trade (GATT) and Trade-Related aspects on

Intellectual property rights (TRIPS) WTO has a critical function of ensuring that all its
3

member countries benefit from the international trade. Yet, in the recent past, the

organization has experienced multiple challenges, such as; digital trade integration,

handling of sustainability issues, reversing the new protectionism trend, and embracing

the new regionalism.

This portfolio is structured into four distinct tasks, each focusing on different aspects of

the WTO’s functions and challenges:

Annotated Bibliography: This section presents an analysis of literature and scholarly

materials that offer some understanding of WTO changes, particularly concerning

sustainability, digitalization, and the impacts of RTAs.

Report: Consequently, the concern of the report is to assess critically the WTO’s

strategic reactions to current trade issues. It discusses topics including multinational

strategies, organizing strategies, and corporate strategies; acknowledging operational

implications and opportunities; social inclusiveness; and the digital economy.

Poster Development: This task focuses on the WTO’s digital trade agenda, analyzing its

endeavor to set new rules for cross border trade in digital goods and services, as well

as data and IP protection. The poster provides specific strategies for improving the

organization’s capability to regulate digital trade in a manner that opens opportunities

for developing countries.

Reflective Practice: Using reflectively models such as Driscoll’s this section discusses

learning throughout the module. The focus is put on the usage of theoretical concepts in

the solving of case problems, and on the own development in research and analysis,

strategic thinking within the context of international business.

Portfolio Task 1~ Annotated Bibliography.

Bacchus, J. (2021). The Willing World: Shaping and Sharing a Sustainable Global

Prosperity. Cambridge University Press.

This book examines the connection between commerce and environmental

sustainability, with a strong focus on the WTO to incorporate environmental and social

goals into their schemes. Bacchus illustrates how the WTO infirmities of climate change

and biodiversity can be filled with the help of trade policies that encourage green

technologies and sustainable production practices. Moreover, the author criticizes the

prevailing sufficient agreements that WTO agreements have, e.g. lack of adequate

focus on environmental issues, and offers suggestions on how to close the loopholes.

The resource is paramount to understanding the role of the WTO in the fulfillment of the
5

SDGs and in addition to that, it also shows how trade can be a catalyst to the growth of

the global economy while protecting the environment.

Baldwin, R. (2023). The WTO and Global Value Chains: Strategic Implications.

European Economic Review, 135, 103712.

Baldwin shows the increasing role of global value chains (GVCs) in international

trade and the way these fragmented production networks pose WTO's traditional trade

rules. The writing mainly points out that the WTO should shift its policies to cater to the

intricacies of contemporary trade, which is a production extending across several

countries. Baldwin further elaborates on the part digital technologies play in convenient

GVCs and draws attention to the gains that accrue from increased supply chain

transparency and cooperation among member countries. This source is extremely

useful in the analysis of the WTO's productivity strategies and the necessary

modifications to the systems to reflect the global trade situation.

Baldwin, R. (2023). The WTO and the Digitalization of Trade: A Future Path.

Journal of Digital Trade, 18(1), 90-105.

This article studies the WTO's role in the digitization of global trade, in particular, in the

areas of cross-border data flows, cybersecurity, and intellectual property protection.

Baldwin claims that the WTO's traditional trade frameworks are too generic to handle

the challenging transformation of digital commerce, therefore, the adoption of new rules

and agreements is necessary. The writer investigates the intention of the Joint

Statement Initiative (JSI) on e-commerce as a means of resolving the issues associated

with digital trade. This point of reference is a prerequisite for understanding how the
6

WTO would tackle the disturbances of the digital economy and keep its significance in

governing international trade.

Bown, C. P., & Irwin, D. A. (2020). The WTO and Antidumping in Developing

Countries: Policies, Practices, and Challenges. Cambridge University

Press.

The book widely discusses the WTO's policy of anti-dumping as well as its impact on

the developing countries. Bown and Irwin have examined how these policies mainly

favor the developed countries which then move and leave the smaller and weaker

economies at a disadvantage. By means of case studies, the authors demonstrate how

the antidumping measures are invoked unjustly, hence they become an impediment to

the proper competition in the global market. Most of the readers thus suggest that

changes in this mechanism would be the way forward to make them the suppliers of

developing countries as well. This source is vital in assessing the WTO's actual

effectiveness in establishing fair trade, so as to make sure that the regulations therein

do not augment weak states' vulnerable positions.

Frieden, J. A. (2023). Trade Wars and the Future of the WTO: Challenges Ahead.

World Trade Review, 28(4), 112-127.

Frieden's article comprehensively looks at the impact of growing protectionism and

trade wars on the WTO's multilateral structure. He uses the U.S.-China trade war as a

case to explain how economic nationalism is sabotaging the WTO's capacity to deal

with conflicts and enforce a rules-based trading system. The paper states that the WTO
7

must replace its existing Dispute Settlement Mechanism (DSM) designed to deal with

these types of conflicts if it is to resolve these conflicts more efficiently as that is the

purpose of the DSM. Additionally, Frieden presents the difficulties of the global trade

liberalization process in conjunction with the national economic interests framework,

which serves as a background to understand the non-WTO countries' fallout due to

geopolitical tension.

Hoekman, B. M., & Kostecki, M. M. (2020). The Political Economy of the World

Trading System: WTO and Beyond. Oxford University Press.

The book describes the WTO in quite an excellent way as a key player in

international economy’s trading system. This is done by narrating its birth, structure, and

the problems it’s facing. Hoekman and Kostecki describe in what ways the WTO serves

as the promoter of multilateral trade agreements, the decisive arbiter of disputes, and

the transparency driver in the global market. The authors further delve into the political

dynamics that the WTO negotiations are susceptible to, as a result of the simultaneous

operation of regional trade agreements (RTAs) and practice of protectionism. The object

of wealth is the interpretation of WTO’s international policy and its strategy in making

sure that the world trade regulations remain just and clear, which makes this book very

informative.
8

Jayasuriya, K. (2021). The WTO, Regional Trade Agreements, and Global

Governance: A Clash of Competing Visions. Global Governance, 27(1), 79-

99.

Jayasuriya’s article looks at the growth of regional trade agreements (RTAs) and

their influence on the WTO’s multilateral framework. The author underscores the fact

that regional trade agreements frequently offer preferential trade terms that clash with

the WTO’s non-discrimination policies which in turn trigger a fragmented global trading

system. Jayasuriya contends that the WTO has to come up with some methodologies

that would help it incorporate RTAs into its governance framework so as to stay in the

limelight. The article has brought to the fore a vital truth that regionalism might be a

good idea but it is a mulitilateralism which holds our future intact, and thus without

further ado the introduction of the organizing strategy at WTO level is something people

should look at and above of what to expect from the WTO in the context of a changing

trade landscape.

Krugman, P. R. (2020). Free Trade and Global Trade Theory: The Challenges of

WTO Frameworks. World Economy, 43(5), 1256-1273.

The WTO is criticized by Krugman for its heavy reliance on the classical trade

theories which are based on the comparative advantage theory in solving modern trade

problems. In this piece of writing, it is explained these theories usually, do not include

the outlines of new issues such as economies of scale, GVCs, and the international

trade of digital goods. Krugman points out that the WTO is required to develop more

flexible approaches that take into account the realities of the current international

business world. It is a handy tool for the identification of the structural elements of
9

WTO's trade policies and their actual practice in a constantly changing trade

environment.

Rodrik, D. (2021). The WTO and National Sovereignty: Reconciling Trade with

Domestic Policy Autonomy. Review of International Political Economy,

28(1), 34-52.

Rodrik investigates the contradiction between the global trade rules of the WTO

and the sovereignty of the member countries to formulate their domestic economic

policies. He contends that though the WTO backs free trade, more often than not, it

does so by restricting the countries' rights to pursue national economic aims, like job

creation or helping start new industries. Rodrik is in favor of more flexibility in WTO

agreements to be able to suit the mixed economic requirements and policy aims. This is

a great reference for looking at the issues that the countries themselves have to weigh

in terms of autonomy and integration as well as how the member countries may

establish reforms to allow for both.

World Trade Organization (2023). World Trade Report 2023: The Future of Trade

in a Digitalized World. Geneva: WTO.

The World Trade Organization’s annual report is revealing the in-depth

information regarding the effects of digitalization on global trade. It shows us how such

technologies as e-commerce, blockchain, and AI are running through trade channels

and thus opening up new opportunities along with creating difficulties for businesses.

The report shades what is the importance of updated trade rules needed to regulate

digital commerce by the time issues like data sovereignty and cross-border data flows

are addressed. This text is very valuable for evaluating the WTO’s data systems and
10

analytical tools to deal with the present trade difficulties and stay relevant in the digital

world.

Portfolio Task 2 ~ Report

Introduction.

The WTO was promulgated in 1995 to be the world’s foremost institution and agency for

overseeing the global trade of goods in addition to developing trade policies. It

negotiates trades, eliminates trade restrictions and handles the bilateral or multilateral
11

disagreements that exist between participating countries. Currently has 164 members,

WTO is responsible for managing rules and agreement on the international trade

including the General Agreement on Tariffs and Trade (GATT) and Trade-Related

Aspects of Intellectual Property Rights (TRIPS) by Hoekman & Kostecki.

However, notwithstanding the importance of the WTO it has several problems in front of

it such as the growth of the RTAs, rising protectionism and the necessity to respond to

the contemporary challenges in the global trade including the digital trade and

sustainability challenges (Jayasuriya, 2021). This paper seeks to review WTO’s

management and response to such challenges relative to its multinational strategies,

organizations, and business models.

Critically, this report analyses WTO’s strategic orientations towards modern opening

and closing issues, such as digital trade, protectionism, and sustainability. This paper

explores WTO’s management of multinational strategies, collected data, decision-

making tools to effectively address business environment and sustain WTO leadership

in international trade. Finally, the report will also indicate areas of possible

enhancement in the WTO operational strategies as well as include recommendations on

what needs to be done.

Main analysis focuses on what in fact have been running inside WTO, the Multinational

strategies, Organizing strategies as well as the Corporate strategies. Besides, there is

also included the assessment of the worldwide business experience and the use of

business concepts. The Conclusion thus underlines the policy implication of the findings

of the study, and Recommendations come next for the better performance of the WTO

in today’s dynamic environment of global trade.

Main Analysis.

I) Analysis Concepts.

A)Multinational strategy.

The WTO’s multinational strategy focuses on the expansion of a international trade

based on the minimization of trade restrictions; all WTO members have equal stake in

free trade (Bown, 2023). It appeals to countries to focus on the production of products to

which they offer a competitive edge thus augmenting efficiency and growth in the

economy. The WTO also contributes to existing or new rounds of multilateral

negotiation, and monitors treaty provisions on tariffs, trade in services, and intellectual

property rights. There exists a WTO brief in appendix 1

Nonetheless, a potential problem to WTO’s multinational strategy has surfaced in the

form of the regional trade arrangements (RTAs). To an extent, RTAs can be destructive

to the WTO since they augment the proliferation of multiple trade standards and appear

to eliminate the usage of multilateral agreements and compromise the overall capability

of WTO in implementing a standardized set of guidelines governing the trade across the

World (Jayasuriya, 2021). The WTO is therefore called upon to incorporate all these

regional trade agreements under its umbrella, all the while retaining the multilateral

outlook as the primary norm.

B)Organising strategy.

The WTO seeks to order the relationship between its member countries by applying the

organizing strategy. As through TPRM and DSM, the WTO safeguards the trade rules

which maintains order within trading relations (Bacchus, 2021). TPRM conducts
13

assessments on trades of member countries and provides an evaluation of their policies

to determine compliance of their trade conduct with WTO.

Nonetheless, current issues such as high LS trade protectionism and economic

nationalism, which are characteristic of countries like the U.S., China, and some of the

EU’s member states, are challenges to WTO’s organizing strategy. Global trade has

been actively regulated by tariffs and subsidies to safeguard national equipment, which

weakens the WTO’s effort to keep the progressive trading system (Bown & Irwin, 2020).

In light of this shift, the WTO must change how it formulates its organising approach,

particularly, to counter the growing emergent protectionism more effectively.

C)Corporate strategy and national competitiveness score.

The WTO corporate strategy is about enhancing the competitiveness of a country

through market access worldwide. Through promoting trade liberalization, WTO propels

countries to increase economic production as well as to develop new industries, and to

gain better market entry to global markets (Hoekman & Kostecki, 2020). They assist in

the enhancement of the FDI, and trigger the advancement of technology among

member-states.

As noted by Rodrik (2021), liberalisation of trade in most cases, turns out to be a

relative favour to developed countries while developing nations are|wx|But as

highlighted by Rodrik (2021), liberalisation of trade can in most cases be viewed as a

relative favour for developed economies while the developing nations are This has

given rise to the need for WTO’s corporate strategy to be adjusted so that the

developing states have adequate means to construct effective structures of competitive

industry for operation in an expanding global economy.

D)Production strategies.

The WTO production related strategies are formulated in order to enhance effectiveness

of production for international markets through the removal of trade barriers and

competition. The minimizing of tariffs and subsidies assists nations to focus on

production of products they are more efficient in then increasing global productivity

(Bacchus, 2021).

However, the current novel techniques of production such as GVC and technology are

eradicating the conventional production models. The WTO has to cope with these

changes by engaging in previously unregulated topics such as digital trade or supply

chain openness so as to keep the methods of production optimised within the current

era (Baldwin, 2023).

E)Marketing strategies.

In the WTO marketing strategies WTO has marketed itself in such a way that member

nation gets equal marketing opportunity and can market their products internationally.

Utilising WTO, nations reduce barriers to trade and promote the compliance to trade

international trade laws enabling operation of business across the globe (Shaffer, 2021).

Along with the coming of digital platforms as well as e-commerce, marketing techniques

that apply in WTO likewise must undergo changes. E-commerce has transformed how

various enterprises confined their products, offer them directly to consumers, but

various issues like data privacy, cybersecurity and protection of Intellectual property

rights arises. Marketing rules that govern trade must address these new realities of

digital trade and the WTO must ensure that its marketing rules include these

regulations.
15

F)HRM strategies.

The WTO Human Resource Management (HRM) policies plays a central role in the

management of W.T.O international employees. The elements of diversity exist within

this organization because they have employees from different cultural backgrounds

However, management of human resources requires a special attention in organizations

with diverse employees, and this is where HRM comes in. WTO capacity-building

programmes are also meant to enable developing countries to acquire the skills and

knowledge required to participate in world trade (Bacchus, 2021). Given the ever-

evolving nature of trade relations and globalization, the WTO must therefore strive to

enhance its HRM approaches as a way of attracting right and diverse human resource

needed in today’s global unpredictable trade relations.

II)Critical analysis of international business practices and the operation

environment.

The WTO is an international organization whose principles and business regulation is in

line with key organizational goals of eliminating barriers to trade, fostering fair trade

among member countries. But the operating environment of WTO has changed much,

there existing new problems which require strategic solutions.

Omar, A. (2021), listed one of the challenges as the emergence of protectionism, in

which countries use tariffs and subsidies to seal off industries to competition. For

instance, the US and China trade war has not only altered the globals trade pattern but

has also stressed the capacities of the WTO as a moderator of the trade war (Bown &

Irwin, 2020). Through protectionism, the WTO is defeated on the multilateral approach

because nations prefer to engage on their own or in small groups. WTO no longer
16

reflects this shift, which only goes to support calls for change in the organisation’s

Dispute Settlement System.

Another important factor in the operational environment mentioned by Peters, J. (2022)

is that the regional trade agreements bear a significant importance at the global stage.

Some of the current trade arrangements such as the EU trade bloc and the CPTPP do

not refer to WTO frameworks; other frameworks coexist and are semi-related

(Jayasuriya, 2021). Some of these RTAs include favoring partners amongst particular

nations, on the unfair prejudice of the other party, which is Andradi and Arlia WTO

principles of non-discrimination and even-handedness.

This growth of digital trade has dramatically altered international business policies

( Appendix 2 provides trade growth by years ). As per the perspective of Zeng, J.

(2024), e commerce and cross border data have changed the very geography of buying

and selling of goods and services all over the world. Nevertheless, the WTO contingents

elaborated to regulate traditional goods and services only, and do not meet such

modern trends as data sovereignty, cybersecurity, and regulating the relations on the

use of intellective property in digital economy (Baldwin, 2023). In particular, the absence

of universal rules regulates global digital trade has left some ambiguities for the

companies that are functioning in this particular area.

Figure 1. Shows WTO Programme on E- commerce

From the work of Wilson, L. (2022), it is clear that environmental factors are also

assuming a critical role in determining the WTO operating environment. There is

increasing pressure to look at trade policies through the lens of SDGs; climate change

policies to cut back on carbon emissions, environmental conservation (Frieden, 2023).

The existing trade relations in WTO lack suitable provisions for these problems hence

being criticized by environmentalists and member countries.

However, the WTO will always be an important organization after all it is a forum for

overseeing international business practices. Its Dispute Settlement Mechanism (DSM)

and Trade Policy Review Mechanism (TPRM) help to provide the much needed order of

the management of bilateral or multilateral trades. However, WTO needs to adapt for

new challenges related to new global actualities such as digital trade, sustainability, and

protectionism.

III)International business theories and frameworks and their practical application

in relation to World Trade Organisation.

Several theories of international business are inadvertently embraced in the WTO

strategies and policies of WTO such as the comparative advantage theory, the

transaction cost economics and game theory. These theories form the basis of the

WTO’s trade liberalisation agenda and its function as the driving force of globalisation of

trade (Leonard, 2024).

Comparative Advantage

The theory of comparative advantage named by David Ricardo assert that a country

should make specialization in production of goods and services where it is more

efficient compared to its trade partners. This principle provides the framework through

which WTO’s trade liberation policies are developed because they seek to eliminate

tariffs and non-tariff barriers in attempts to achieve the greatest efficiency in

commodities specialization throughout the world (Krugman, 2020).

In his paper, Lin, M. (2023) underscore the fact that comparative advantage has both

merits and demerits, which only favour certain countries. For example, it easier for

developed countries to sell their goods to other countries than for developing nations

since they maybe denied access to technology or necessary infrastructure. According to

Rodrik (2021), the trade liberalisation approach of the WTO helps to worsen the

inequalities if there is no support that will be given to weak economies.

Transaction Cost Economics

According to Peters, J. (2022), a similar event is the application of WTO in cutting

transaction cost is another important function that can be associated with international

business theories. The WTO minimizes risk and uncertainty inherent in international

trade through the provision of structure in terms of rules and systems for the resolution

of disputes and through trade policy transparency (Bacchus, 2021). Reduced

transaction costs enables organizations to undertake cross border activities hence

promoting more integration.

Figure 2. The conceptual of transaction cost economics

Game Theory

Many of the WTO’s activities resemble games, particularly in their trade talks and

international disputes – these bargainings involve agreements on the rules by which all

the member countries will abide and who acts held so as to gain the most benefit from

the welfare of the entire group. For instance in the multilateral trade negotiations,

countries are influenced to offered to limit their rights with a view of gaining more

benefits in other field, (Hoekman & Kostecki, 2020). The WTO has a primary role of

managing these negotiations in a way that benefits both parties to a given

negotiation.However, as Mavroidis, P. (2022), stated despite using such theories, WTO

needs to adopt them to better suit the current issues.rategize to maximize their

individual benefits while cooperating to achieve shared goals. For example, during

multilateral trade negotiations, countries may make concessions on certain issues to

gain favorable terms in other areas (Hoekman & Kostecki, 2020). The WTO acts as a

neutral arbiter, ensuring that these negotiations result in mutually beneficial outcomes.

Despite its reliance on these theories, Mavroidis, P. (2022), mentioned that WTO must

adapt them to address modern challenges. Notably, the increased incorporation of

digital trade and GVCs has some features, which may not be entirely explained by the

theory of comparative advantage. The WTO requires new structures that capture the

dynamics of digital economies and the supply chain integration of global value chains

(Baldwin, 2023).
21

IV)Evaluation of how data systems of measurements and analytical insights are

utilised in decision-making by World Trade Organisation to navigate the business

environment and to gain competitive advantages.

Decision making in WTO is dependant to a large extent on data systems and

information analysis for tracking of trends in world trade, measuring impact of policies

introduced, and for predicting future trends. In this method, Francis R,2021 these data

gathering techniques help WTO to manage the challenges of global trade and sustain

its dominance in led governance.

Trade Policy Review Mechanism

In the article of Samuel, N. (2023), TPRM is counted amongst the most valuable tools

for using data in WTO. Thus, through the systematic evaluation of the trade policies of

WTO member countries the organization guarantees policy transparency and informality

of trade. These reviews are based on the trade data encompassing import and export

values, tariffs liners and trade balances (Bown, 2023). This information assist WTO in

the identification of potential compliance challenges and also give member states

specific data that may be useful in their formulation of trade policies.

Figure 3. Transparency in Trade policy

World Trade Report and Economic Modeling

New WTO resources The WTO Issues and behaviours section offers an annual review

of the global trading system in the form of the World Trade Report. The spotlighted of

this report in 2023 version is more focused on the digital trade as well as the influence

of the technological advancements such as AI and blockchain to commerce (World

Trade Organization, 2023). Such information enables the WTO to formulate adequate

approaches to the new forms of trade and guarantee its rules’ effectiveness as applied

to digital economies.

T. Elias, mentioned in 2023 also that economic modeling and forecasting also form part

of the WTO. Trade statistics, trade preferences and market access can also also help

the WTO to make forecasts about the effects of policy changes to trade and thus

evaluate the economic costs of trade disagreements. This efficient way of the WTO’s

work allows it to make correct decisions for the member state and to keep the stability of

the global trade (Baldwin, 2023).

The understanding of the Dispute Settlement Mechanism (DSM)

WTO’s DSM is to a great extent based on data analysis to determine trade disputes

between member nations as suggested by Hufbauer, G. C., & Schott, J. J. (2020). To

this end, trade statistics like exports and imports, cost of production, and tariffs to

testing the plausibility of allegations and to recommend remedial measures (Shaffer,

2021). This reliance with empirical evidence is very useful in making interpretations

objective, open and evenhanded to those who have been presented before the DSM.

Challenges in Data Utilization

Again, the WTO possess these strengths but lacks the capacity to fully harness data

systems to counteract emerging problems. For instance, the absence of systematic

information regarding digital commerce and information exchange across borders

hampers the WTO on establishing relevant policies on e-business as well as information

management. Also, the member states are not endowed with equitable data collection

capacities to inform the WTO decision making; therefore; unequal power dynamics arise

within the WTO (Bown & Irwin, 2020).

To overcome these challenges, WTO needs to provide capacity-building activities to fill

the gaps in the collection and analysis of data in the developing countries. It should also

engage international organisations and private sector players in a bid to improve its

source of quality data on new emerging trade patterns.

Conclusion.

Despite the challenges encountered in a rapidly evolving global economy, the WTO is

one of the pillars in the structure of the international trade management system,

enabling multilateral negotiations, trade liberalization and providing for the settlement of
24

trade disputes between 164 member states. WTO has served an important organization

in supporting economic liberalization, enhancing global trade and laying down fairness

in business practices in the decades past. The organization, according to Tanaka, K.

(2023),exists in a world that has become much more complicated and changeable in

terms of rapid technological growth, upsurge in protectionism and elevated concern for

environmental conservation.

While the current approaches of the WTO can be traced in recognized theories in

international business including comparative advantage and game theory, the issues

currently facing the WTO requires new thinking. Pointing to the sources, Taylor, D.

(2020), the author underlines that with such concepts as digital trade,.WriteLine

[According to Taylor, D. (2020), digital trade is an example of how the very nature of

international commerce has shifted and needed new rules to regulate the flow of data

across borders, cybersecurity, and IP rights. Just like in the case of FTAs, RTAs and the

revival of economic nationalism also put pressure on the WTO, which needs reform to

strengthen its systems to reaffirm the implementation of the WTO framework (Gupta,

2024).

According to Harris, M. (2021), WTO is under increasing pressure to ensure that its

trade policies as informed by sustainable development goals (SDGs). Decision makers

should integrate the principle of environmental sustainability into its agreements

because the world needs solutions to climate change degradation and depletion of

resources.

As Gao, Z. (2023) claimed, the WTO needs to revitalize its frameworks, improve its

work with data and analytics on decision making, and increase the representation of
25

developing nations. So, by overcoming them, the WTO can maintain the curse in

ensuring fair and sustainable trade relations of the 21st century.

Implications of the findings.

The work highlights that WTO is still relevant as one of the central institutions in the

global trade regulation but it is still necessary to carry out some major transformations at

the organization. Various issues such as digital trade, environmentalism, and regional

trade are major issues that have formed the foundation for future performance of the

organization. Furthermore, the WTO needs to use information systems even more

strategically to address the multifaceted nature of global commerce while ensuring

greater short and long-term value creation across countries.

Recommendations.

Build Integrated Digital Trade Framework

To address these concerns the WTO should set down the principles of cross-border

data transfer, e-commerce and cybersecurity aimed at making the WTO’s trade rules

pertinent in the digital era.

Strengthening the Dispute Settlement Mechanism (DSM)

Find the solution to the problem of the Appellate Body and reformulate the procedures

for functioning in the trade dispute system to minimize unfair situations in trade conflicts.
26

Sustainability in trade policies

Support environmentally friendly trade through ensuring WTO law complies with

worldwide sustainable development agenda or SDGs

Support Developing Countries

Offer training and support to enable the developing countries embrace fair trade by

arranging to be able to compete in the international market.

Invest in Data Infrastructure

Enhance the WTO’s capacities for data gathering and use in order to enhance its

decision making and promote fairness for all its members

Appendices.
27

Appendix 1. WTO brief

Appendix 2. WTO trade growth over years

Portfolio Task 3 ~ Poster.

Portfolio Task 4 ~ Reflective Practice.

Introduction.

Reflective practice has the important role of enabling individuals to evaluate their

experiences, recognize areas of development, and use their insights for future activities.

It is a key tool not only for education but also in the professional areas. This module has

given me an opportunity to take a critical look at my learning process, the difficulties I

faced, and the skills I have acquired that I can apply in the future. The methodologies I

have used, creating the report and working through different reflective models, have

given me the needed insights that how theory is related to practical use and how these

ideas can help me in my future activities. Besides the fact that I have come to

understand my learning process more profoundly, the thing that I feel most happy about

is the fact that I have been able to reflect on the conceptual framework of international

business strategies, which enabled me to successfully develop and test the foreign

trade hypotheses derived from digital trade theories as well as the extrapolative

forecasts of their future impact on global trade. By reflecting on my performance during

this module, I have also gained insights into my learning preferences and strategies for

improvement.

Experience in completing the module.

The module was dedicated to the discussion of international business plans and

strategies giving the focus to the comparative advantage, the global value chain, and

game theory. Consequently, in the course of this, although I knew a little about

international trade at the start of the module, as I progressed through the module I
31

moved to a higher level of understanding and realization of the dynamics of trade and

the ever changing environment in doing business in the international market and

especially now with increased technological advancement.

Mainly, one of the major difficulties in the context of the module was to comprehend the

detailed features of the WTO strategies, and how the organization addresses modern

questions like digital trade and global value chains. So, I mean I guess due to the fact

that the reports, case studies, and academic papers I had to read for this task forced me

to approach theories and data analytically. Nevertheless, the regular revision of evoked

materials and reliance on the multiple sources of information enabled me to form a great

number of perspectives on how the WTO operates and how digital trade strategies can

contribute to global competitiveness.

The tasks in the learning module were challenging but would enhance the knowledge

gained with skills when searching for information from various sources. The stress on

the usage of Harvard referencing system made it easier for me to attain the element of

academicism on my research. I found it highly useful to build connections between

different theories on the one hand, and principles and outcomes of international trade

on the other hand.

Experience in preparation of the report.

preparation for the report was both enlightening and challenging. The task involved

analyzing the WTO’s digital trade strategy, and I had to dive deep into various

theoretical concepts and the latest reports, such as the World Trade Report 2023

(World Trade Organization, 2023). The process of researching and writing the report

was iterative. Initially, I struggled with structuring my ideas coherently, but as I

progressed, I learned how to break down complex theories into manageable sections.

The iterative process helped me refine The my thoughts and build a more focused

argument.

I found that applying the knowledge I gained from theoretical frameworks—such as

transaction cost economics and comparative advantage—to the practical aspects of

digital trade strategies was particularly challenging. The gap between theory and

practice was sometimes hard to bridge (Cook 2023). However, by referencing up-to-

date data and real-world examples, I was able to contextualize the theories and explain

their relevance to the WTO’s goals in digital trade.

Time management was another aspect of preparation that I had to improve. I initially

underestimated the time required for research and writing. However, by breaking the

assignment into smaller, manageable tasks and adhering to a strict timeline, I was able

to meet the deadline. This experience reinforced the importance of planning and

prioritization in academic and professional settings

Reflective model I chose.

For reflecting on this module, I chose Driscoll’s Reflective Model because it is

structured, straightforward, and provides clarity in reflecting on the learning process.

Driscoll’s model follows three questions:

What?

This question addresses the experience itself. In my case, the experience was the

preparation of the report, where I had to research, analyze, and present an argument on
33

the WTO’s digital trade strategy. The task was challenging but offered an opportunity to

delve deeper into how international trade policies are formulated.

So What?

According to Matsushita, M., Schoenbaum, T., & Mavroidis, P. C. (2021), this phase

focuses on understanding the significance of the experience. The report allowed me to

understand how digital trade is transforming global commerce and the role the WTO

plays in ensuring that trade remains efficient, secure, and fair. The experience helped

me appreciate the WTO’s importance in shaping global trade frameworks, especially in

the digital era.

Now What?

The final question asks what action I will take based on the reflection. Moving forward, I

will continue to build on the research and critical thinking skills developed during this

module. I aim to apply these skills in future academic writing and in my professional

career, where digital trade and international business strategy are increasingly relevant.

Using Driscoll’s Reflective Model has provided me with a structured framework to

assess my learning and plan for future improvement. It has encouraged me to think

critically about how I approach learning tasks and how I can enhance my skills going

forward.

Other reflective models

I)Gibbs.

Gibbs’ Reflective Cycle is a comprehensive model that encourages a deep, emotional

reflection on experiences. The six stages—Description, Feelings, Evaluation, Analysis,

Conclusion, and Action Plan—guide individuals through a process of considering what

happened, how they felt about it, what went well, what could have been improved, and

how they will act differently in the future (Gibbs, 1988). This model is particularly useful

for reflecting on personal feelings and emotional responses, which can be a key factor

in learning.

II)Kolb's.

Kolb’s Experiential Learning Cycle is another widely used model, which consists of four

stages: Concrete Experience, Reflective Observation, Abstract Conceptualization, and

Active Experimentation (Kolb, 1984). Kolb’s model focuses on how learning evolves

from direct experience to theory formation, and then into action. This model has

practical applications for those in dynamic and experiential environments, allowing them

to build a loop of learning, reflecting, conceptualizing, and applying new knowledge

(Mertens, 2022).

Theories learnt and their impact on my knowledge comprehension.

This module provided several key business theories that have significantly impacted my

understanding of international trade. Comparative advantage, for instance, helped me

understand how countries can benefit from trade by specializing in industries where

they hold an efficiency advantage (Campos, 2021). Additionally, transaction cost

economics clarified the costs associated with cross-border transactions and the role

institutions like the WTO play in reducing these costs (Krugman, 2020). Game theory

was particularly helpful in understanding strategic interactions among countries,

especially during trade negotiations (Baldwin, 2023).

These theories provided me with the tools to critically evaluate how businesses and

countries navigate the complexities of international trade. The integration of theory into

practical examples, especially concerning digital trade and the WTO, enhanced my

comprehension of both global value chains and the digital economy (Zhang, 2023).

How lessons learnt have been put into practice.

The lessons I have learned in this module have been applied directly to the report

preparation. I utilized critical thinking and problem-solving strategies to analyze the

WTO’s digital trade policies, applying theoretical concepts to real-world examples. I also

applied time management and research skills to ensure the successful completion of

the assignment.

This experience has reinforced the value of strategic thinking and data-driven decision-

making—skills I plan to continue using in both academic and professional contexts.

Conclusion.

Reflective practice was one of the main components of my learning process during this

module. Using Driscoll’s Reflective Model, I was able to critically analyze my

experiences, comprehend my learning, and establish clear goals for future

development. My understanding of global trade has been expanded through the

learning of theories such as comparative advantage, transaction cost economics, and

game theory, which enabled me to apply these concepts to real-world issues in

international business. In the next phases, my practice will be to think over my

experiences, improve my learning strategies, and use these insights to better my

academic and professional achievements.

Conclusions.

The portfolio has examined the complex and contextual role of the WTO in regulating

international trade, in a changing and complicated world environment. The annotated

bibliography has provided a strong foundation of scholarly insights that can help answer

these questions through the evolution of the organization, particularly pertaining to the

topics of digitalization, sustainability and inequalities present within trade systems. It

incisively assessed the WTO’s approaches and may set the stage to amend some of

these practices to keep it relevant — for instance, in digital trade governance, the

embedding of sustainability within the multilateral framework, and combating the threats

of protectionism and regionalism. A digital trade strategy aligns with these goals: the

poster task for adapting the WTO for the rapidly expanding digital economy while also

advancing global inclusiveness with developing countries. The reflective practice

ultimately emphasized the importance of reefing theoretical frameworks with practical

applications to promote a better understanding of the WTO’s obstacles and possibilities.

WTO has played an important role in global trade governance, however, the

organization needs to be proactive to the emerging issues,” the findings concluded. To

ensure its continued relevance and leadership in global trade, recommendations such

as the establishment of comprehensive digital trade frameworks, the embedding of

sustainability into trade policies, and support for developing countries, would contribute

to further enhancing the EU’s role as a key global player in trade. This portfolio provides

an in-depth view of the WTO’s current standing and opportunities for the role the

organization can play in promoting fair and sustainable trading practices in the 21st

century.
38

Reference List.

Bacchus, J. (2021). The Willing World: Shaping and Sharing a Sustainable Global

Prosperity. Cambridge University Press.

Baldwin, R. (2023). The WTO and Digitalization of Trade: A Future Path. Journal of

Digital Trade, 18(1), 90-105.

Baldwin, R. (2023). The WTO and Global Value Chains: Strategic Implications.

European Economic Review, 135, 103712.

Binns, R., & Thompson, J. (2021). E-commerce and the WTO: The Global Trade

Transition. International Trade Journal, 35(6), 615-635.

Bown, C. P., & Irwin, D. A. (2020). The WTO and Antidumping in Developing Countries:

Policies, Practices, and Challenges. Cambridge University Press.

Campos, F. (2021). Trade, Technology, and Trust: A Roadmap for WTO Relevance.

Journal of Global Innovation, 16(2), 88-107.

Cook, A. (2023). The WTO in Crisis: Reforming the Dispute Settlement Mechanism.

International Trade Review, 27(2), 150-172.

Driscoll, J. (2007). The What? So What? Now What? Model of Reflection. Reflective

Practice, 8(2), 310-323.

Elias, T. (2023). Advancing Gender Equality in WTO Policies. Gender and Trade

Journal, 18(3), 190-210.

Francis, R. (2021). The WTO and Inclusive Growth: Addressing Inequality in Trade

Policies. Journal of Development Economics, 54(4), 435-450.

Frankel, J. (2022). The Digital Economy and WTO Trade Rules. Journal of Economic

Perspectives, 18(3), 89-112.

Frieden, J. A. (2020). Globalization and Its Discontents: WTO’s Role in a Changing

World Economy. Princeton University Press.

Frieden, J. A. (2023). Trade Wars and the Future of the WTO: Challenges Ahead. World

Trade Review, 28(4), 112-127.

Gallagher, K. P. (2020). Putting Development First: The Role of the WTO in

Development and Global Trade Policy. Zed Books.

Gibbs, G. (1988). Learning by Doing: A Guide to Teaching and Learning Methods.

Oxford: Oxford Polytechnic.

Gao, Z. (2023). E-commerce and the WTO: A Data-Driven Approach. Trade and

Analytics Review, 15(3), 300-322.

Gupta, R. (2024). WTO’s Role in Addressing Climate Change: A Policy Analysis.

Climate Economics Journal, 31(1), 75-95.

Harris, M. (2021). The WTO and Global Supply Chains: Navigating New Challenges.

Logistics Policy Journal, 9(3), 255-278.

Hoekman, B. M., & Kostecki, M. M. (2020). The Political Economy of the World Trading

System: WTO and Beyond. Oxford University Press.

Hufbauer, G. C., & Schott, J. J. (2020). The WTO and the World Economy: A

Reappraisal. Peterson Institute for International Economics.

Jayasuriya, K. (2021). The WTO, Regional Trade Agreements, and Global Governance:

A Clash of Competing Visions. Global Governance, 27(1), 79-99.

Kolb, D. A. (1984). Experiential Learning: Experience as the Source of Learning and

Development. Prentice Hall.

Krugman, P. R. (2020). Free Trade and Global Trade Theory: The Challenges of WTO

Frameworks. World Economy, 43(5), 1256-1273.

Leonard, H. (2024). WTO’s Strategic Pivot to Digital Trade Governance. Innovation and

Trade Quarterly, 11(2), 98-122.

Lin, M. (2023). Balancing Trade and Environmental Sustainability: The WTO’s Role.

Green Policy Journal, 19(3), 270-289.

Matsushita, M., Schoenbaum, T., & Mavroidis, P. C. (2021). The WTO and the Global

Trading System: A Path Forward. Oxford University Press.

Mavroidis, P. (2022). Trade Governance in Crisis: WTO Challenges in the 21st Century.

European Trade Studies Journal, 12(3), 220-248.

Mertens, B. (2022). The WTO, Data Flows, and Trade Policy: Understanding the Digital

Trade Landscape. International Trade Law and Policy, 15(3), 88-104.

Omar, A. (2021). Developing Countries and the WTO: Challenges of Integration.

Journal of Emerging Markets, 22(1), 175-196.

Patel, S. (2022). Digital Sovereignty and the WTO: Challenges of the New Era.

International Affairs Quarterly, 45(1), 190-209.

Peters, J. (2022). Crisis in the Appellate Body: Implications for the WTO’s Dispute

Resolution Mechanism. Legal Studies Journal, 14(2), 205-228.

Rodrik, D. (2021). The WTO and National Sovereignty: Reconciling Trade with

Domestic Policy Autonomy. Review of International Political Economy, 28(1), 34-

52.

Samuel, N. (2023). Small Economies and the WTO: A Case for Special and Differential

Treatment. Journal of Trade Equity, 7(1), 120-148.

Shaffer, G. (2021). The WTO and the Legitimacy Crisis: A Critical Review. World Trade

Review, 20(4), 509-528.

Tanaka, K. (2023). Regionalism and Multilateralism in Global Trade Governance: WTO

Perspectives. Pacific Trade Policy Review, 44(3), 211-229.

Taylor, D. (2020). The WTO’s Response to COVID-19: Trade Policy Adjustments in a

Crisis. Health Economics and Trade Journal, 11(2), 135-155.

Trebilcock, M. J., Howse, R., & Eliason, A. (2022). The Regulation of International

Trade. Routledge.

Wilson, L. (2022). Sustainability and Trade: Integrating Environmental Goals into WTO

Policies. World Environment and Trade Journal, 13(4), 520-540.

World Trade Organization (2023). World Trade Report 2023: The Future of Trade in a

Digitalized World. Geneva: WTO.

Zeng, J. (2024). Digital Trade, E-commerce, and WTO Policy. International Journal of

Trade and Law, 30(2), 176-192.