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O objetivo deste trabalho é fazer uma análise sistêmica da Organização Mundial do Comércio (OMC), em meio à crise pela qual atravessa. Argumenta-se que, embora a omc esteja atravessando uma crise profunda em termos reais e simbólicos, continua a desempenhar um papel importante na, cada vez mais complexa, governança multilateral. Para isso, são analisadas as três principais funções que cumpre na governança comercial multilateral: ser um fórum para negociações comerciais, fornecer um sistema eficiente de resolução de conflitos e uma arena para discussão e revisão de padrões mínimos de política comercial. O artigo está dividido em três partes. Primeiramente, analisamos as propostas de reforma da OMC e quais questões avançaram nos últimos anos. Em segundo lugar, analisa-se o desempenho do sistema de resolução de conflitos e analisa-se o debate sobre a sua reforma. Terceiro, é analisado o desempenho do mecanismo de revisão da política comercial (MRPC). A metodologia é qualitativa, com revisão da literatura especializada e análise de fontes primárias - documentos oficiais da OMC — comunicados dos países membros, declarações conjuntas, relatórios de órgãos e comissões, além da coleta e análise de dados disponíveis no site da organização.

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