No Permanent Friends: Trade, Power and the New Geography of Economic Security with Wendy Cutler and Deborah Elms

Trade used to be about efficiency. Now it’s increasingly about resilience, leverage and security. 

In the mid-season finale, host Marwa Abdou sits down with two of the world’s leading trade policy voices: Wendy Cutler, Vice President at the Asia Society Policy Institute, and former Acting Deputy U.S. Trade Representative following nearly three decades at USTR, and Deborah Elms, Head of Trade Policy at the Hinrich Foundation, and Founder of the Asian Trade Centre in Singapore. Together, they unpack how the global trading system is being rewritten in real-time as countries increasingly reorganize trade around resilience, strategic alignment and economic security. 

From China’s WTO accession to CUSMA, CPTPP, semiconductor chokepoints, industrial policy, friend-shoring and the rise of “mini trade deals,” this episode explores how trade became one of the defining geopolitical and economic stories of our time. Along the way, the conversation centres on a deeper question: If globalization was designed to reduce friction, what happens when the world starts optimizing for strategic insulation instead? 

Because trade is increasingly no longer just about what crosses borders; it’s about who countries believe they can depend on when pressure arrives.

Links:
- Wendy Cutler, Senior Vice President, Asia Society Policy Institute
- Dr. Deborah Elms, Head of Trade Policy, Hinrich Foundation
- Dr. Deborah Elms, Founder and Executive Director, Asian Trade Centre
- Refreshing the CPTPP  by Deborah Elms
- Four known unknowns for US trade policy by Deborah Elms 

 

Additional Resources:
- World Trade Organization Global Trade Outlook and Statistics
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
- Regional Comprehensive Economic Partnership (RCEP) 

What is Canada's Economy, Explained?

Canada’s Economy, Explained is the official podcast of the Business Data Lab at the Canadian Chamber of Commerce, hosted by Senior Research Director Marwa Abdou.

Whether you’re a business leader, policymaker, or simply curious about the forces shaping our economy, this podcast brings you real-time data, sharp analysis, and conversations that matter. From workforce trends and inflation to trade, innovation, and inclusion, we unpack the stories behind the stats — with leading economists, industry voices, and fresh perspectives.

Timely. Insightful. Unfiltered. This is where Canada’s economy gets explained.