G L O B A L E C O N

This policy brief focuses on the potential legal obsta- agreements, policy space for development, intellectual prop- cles posed by the World Trade Organization (WTO) and the network of bilateral and regional trade erty and access to medicines and and investment agreements. [...] His mate shocks and trying to pursue development priorities can seem like an insurmountable obstacle.1 research and practice goals There are external constraints as well, characterized by the lack of access to external finance and the center on climate change and legal obstacles embodied by the World Trade Organization (WTO) and the network of bilateral and natural resource law and regional trade. [...] The stated goals of the WTO are to liberalize and thus encourage trade in order to “rais[e] standards of living, ensur[e] full employment and a large and steadily growing volume of real income and effective demand… while [it] allow[s] for the optimal use of the world’s resources in accordance with the objective of sustainable development” (WTO 1994). [...] As a foundational document of the WTO, the General Agreement on Tariffs and Trade (GATT) establishes non-discrimination as the baseline principle for many subsequent rules within the WTO, as well as the model for preferential trade agreements outside of the WTO. [...] Adequate policy space in the global trade and investment rules is only the beginning of what the world needs to be able to tackle the climate crisis.