Since the beginning in 2001, WTO Doha Round Negotiation has encountered so many difficulties and frustrations, and now is still in stalemate. Based on Public Goods Theory of IPE, this paper analyzed main reasons of Doha Round stalemate, and looked into the future of WTO. The main points of this paper are as follow: Before Doha Round, WTO can be regarded as a kind of global trade public goods for which USA stood at the dominant position to provide. Since entering the new century, with the declining of American hegemony, the capability and desire of providing international public goods by USA have been decreasing. As global trade public goods, GATT/WTO owes a lot to those developing members on development issues. Meanwhile, regional trade public goods exerted fierce strike on global trade public goods. All above factors gave rise to Doha Round stalemate. But, WTO is not going to “die”, because international community still need global trade public goods platform. As the same time, it does need reform to increase efficiency of providing global trade public goods. Now the mode of providing trade public goods in the world has been converting from unitary-hegemony mode to binary-mixture mode. During this process, China should try best to push Doha Round to succeed, and in this way, participate in and lead providing global trade public goods more actively than before.