Professor Bob Staiger revisits the formation of the WTO and its GATT predecessor with Chad P. Bown, in order to examine whether the WTO can meet today's policy challenges. Part 1 (03:08) explores the economic problems the WTO was designed to solve, which were not free trade. Part 2 (14:34) explains how the GATT/WTO puts the principle of reciprocity to work to solve those problems. Part 3 (23:58) assesses its historical performance and the evidence across a variety of settings. Part 4 (42:34) explores how the WTO might adapt to the challenge posed by China's non-market economy. Part 5 (53:23) considers ways the WTO can support international climate policies designed to reduce global carbon emissions. A final section (1:07:25) concludes (Total: 1:10:41).