How to save the global free trade order

The world faces unprecedented and difficult challenges, including the US-China rivalry, the Russian invasion of Ukraine, the Covid-19 pandemic, climate change and supply chain disruptions.

A consequence of these challenges is the possible splitting of the world economy into two or more political blocs, similar to what happened before World War II.

To avoid this, the rules-based international trading system needs to be reinvigorated to deal with the problems faced by the World Trade Organization (WTO). The US and China compete relentlessly in areas such as military prowess, scientific and technological advancement, and global leadership.

Leave a Comment

Your email address will not be published. Required fields are marked *