In 2014, observers of global trade were riding a euphoric wave. There was talk of mega-treaties and how those would change the world. There were the Trans-Pacific Partnership (TPP), Trans-Atlantic Trade and Investment Partnership (TTIP) and Regional Comprehensive Economic Partnership Agreement (RCEP). The age of the World Trade Organization (WTO) is as good as over, and trade would now be dominated by the mega deals. Or, so we were led to believe and taken down the garden path. But five years...