Reply #28: It needs to be replaced then, but there has to be some

[pampango]

international agency or mechanism to enforce rules of trade between nations - rules that any member country has already agreed to. If a nation does not like the rules of trade, they can either not join or negotiate different terms before they join. You can always negotiate changes later on as well.

Once a nation agrees to follow a set of trading rules, these rules need to be enforced by some international entity. Otherwise, a country would agree to a comprehensive set of rules then only follow those that were advantageous to them. If every country does that you don't have much of an international trading system.