"Trade is difficult to assess on this scale because we are seeing currents in many directions. At the WTO, for example, we see a delay in passage of the Trade Facilitation package. Some people read this as a setback and as yet more evidence that the WTO is dysfunctional. At the same time, some very important disputes, with far-ranging consequences, are being adjudicated at the WTO, confirming its contribution to the resolution of conflict between major traders.

Similarly, the many ongoing negotiations (from TPP to TTIP to TiSA etc.) all suggest that serious efforts of further liberalization are under way. Many would read this as progress after a period when such efforts were stalled. Others lament that these negotiations are taking place in regional and plurilateral contexts, as opposed to multilateral. Still others acknowledge the fact that active negotiations suggest forward movement, however in what direction? The lack of transparency in these negotiations makes it very difficult to assess if real progress will, in the end, be made. We can only judge that based on outcomes, not process."