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Recorded live from the WTO Public Forum 2023
Panellists:
Angela Ellard, WTO Deputy Director-General
Jennifer Hillman, Professor, IIEL at Georgetown Law; Co-Director of The Center on Inclusive Trade and Development, Georgetown Law
Stormy-Annika Mildner, Executive Director, Aspen Institute Germany
Moderator:
Rem Korteweg, Senior Research Fellow, Clingendael Institute
This podcast episode was recorded on 13 September 2023.
The 2023 edition of the AIG Global Trade Series explores the extent and impact of regionalisation on the global trade landscape. This special episode of the GTS was recorded at the headquarters of global trade – the WTO in Geneva - during its annual Public Forum in September. With the theme ‘It's Time For Action’, the 2023 WTO Public Forum brought delegates and trade experts together to assess the state of trade multilateralism.
Many of these discussions focused on how trade can contribute to tackling climate change and promoting sustainability. A new sense of urgency was palpable this year. The 2023 WTO Global Trade Report, launched during the Public Forum, also raised concerns about the regionalisation or even fragmentation of the trade landscape. Protectionist tendencies remain strong and proliferating subsidies are posing a challenge to multilateral rulemaking. At the same time, in a context of rising geopolitical tensions, trade policy is increasingly seen through a national security lens.
Where does this gloomy outlook leave the WTO? What role can it play in reducing the risks of trade fragmentation and restoring the credibility and relevance of a rules-based system?
___________________________________________
The Global Trade Series is a collaboration between AIG and the following international organisations with leading expertise on global trade: the Aspen Institute Germany; Chatham House (UK); CEBRI - the Brazilian Center for International Relations; the Clingendael Institute (The Netherlands); Institute of International Economic Law at Georgetown University Law Center (US); ISPI - the Italian Institute for International Political Studies; the Jacques Delors Institute (France); RIETI - the Research Institute of Economy, Trade and Industry (Japan) and the St. Gallen Endowment for Prosperity through Trade (Switzerland).
The views and opinions expressed in this podcast series are those of the speakers and do not necessarily reflect the official policy or position of American International Group, Inc. or its subsidiaries or affiliates (“AIG”). Any content provided by our speakers are of their opinion and are not intended to malign any religion, ethnic group, club, organization, company, individual or anyone or anything. AIG makes no representations as to accuracy, completeness, correctness, or validity of any information provided during this podcast series and will not be liable for any errors, omissions, or delays in this information or any losses injuries, or damages arising from its use.
Recorded live from the WTO Public Forum 2023
Panellists:
Angela Ellard, WTO Deputy Director-General
Jennifer Hillman, Professor, IIEL at Georgetown Law; Co-Director of The Center on Inclusive Trade and Development, Georgetown Law
Stormy-Annika Mildner, Executive Director, Aspen Institute Germany
Moderator:
Rem Korteweg, Senior Research Fellow, Clingendael Institute
This podcast episode was recorded on 13 September 2023.
The 2023 edition of the AIG Global Trade Series explores the extent and impact of regionalisation on the global trade landscape. This special episode of the GTS was recorded at the headquarters of global trade – the WTO in Geneva - during its annual Public Forum in September. With the theme ‘It's Time For Action’, the 2023 WTO Public Forum brought delegates and trade experts together to assess the state of trade multilateralism.
Many of these discussions focused on how trade can contribute to tackling climate change and promoting sustainability. A new sense of urgency was palpable this year. The 2023 WTO Global Trade Report, launched during the Public Forum, also raised concerns about the regionalisation or even fragmentation of the trade landscape. Protectionist tendencies remain strong and proliferating subsidies are posing a challenge to multilateral rulemaking. At the same time, in a context of rising geopolitical tensions, trade policy is increasingly seen through a national security lens.
Where does this gloomy outlook leave the WTO? What role can it play in reducing the risks of trade fragmentation and restoring the credibility and relevance of a rules-based system?
___________________________________________
The Global Trade Series is a collaboration between AIG and the following international organisations with leading expertise on global trade: the Aspen Institute Germany; Chatham House (UK); CEBRI - the Brazilian Center for International Relations; the Clingendael Institute (The Netherlands); Institute of International Economic Law at Georgetown University Law Center (US); ISPI - the Italian Institute for International Political Studies; the Jacques Delors Institute (France); RIETI - the Research Institute of Economy, Trade and Industry (Japan) and the St. Gallen Endowment for Prosperity through Trade (Switzerland).
The views and opinions expressed in this podcast series are those of the speakers and do not necessarily reflect the official policy or position of American International Group, Inc. or its subsidiaries or affiliates (“AIG”). Any content provided by our speakers are of their opinion and are not intended to malign any religion, ethnic group, club, organization, company, individual or anyone or anything. AIG makes no representations as to accuracy, completeness, correctness, or validity of any information provided during this podcast series and will not be liable for any errors, omissions, or delays in this information or any losses injuries, or damages arising from its use.
Back to the Future: a New Era of Managed Trade?
Globalisation’s next chapter is being written, driven by concerns about supply chain risks. The global trade in goods is increasingly seen through a security prism in capitals around the world and governments are developing new policies to reduce unwanted dependencies, seek new sources of leverage and guarantee supplies. Trade links are being reordered as policymakers scramble to secure access to strategic materials and positions in global value chains. Meanwhile, geopolitical turbulence and climate ambitions are giving rise to industrial policies, sanctions and a growing use of subsidies.
From investment screening to quotas to export controls, policymakers are proposing an increasing number of tools and policies to steer trade and investment flows. But despite worries about protectionism and fragmentation, trade continues as the private sector manages risk by embracing diversification. Elections in the US, EU, Mexico, UK, Indonesia, India and elsewhere may also lead to a reordering of the global politics of trade. Has the global trade system entered an era of managed trade? What will it mean for regional approaches to trade, and what does it mean for multilateralism and the WTO? Ultimately, the main question could be: who is in the driving seat in this brave new world for trade?