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Opinion: China Has Much at Stake in Reforming Global Trading System

2019年11月21日 17:57 来源于 财新网
This is a time when China needs to be forward leaning — to improve the multilateral trade system and to assist its own domestic reforms
The Qingdao Terminal in Qingdao, East China's Shandong province, on Sept. 24. Photo: VCG

There are a number of factors that have come together at the same time that resemble a "perfect storm" arising from a rare combination of adverse meteorological factors.

The factors include the rise of populism in many nations; dislocations in employment that were blamed on trade and not on the greater cause — technological change, which is seen by most as progress; governments were elected that were not imbued with the same spirit of multilateralism that motivated prior administrations; the rise of a major new economic power, China, with an economy that has its own characteristics that differ from those of many of its trading partners; and a loss of unchallenged legitimacy of World Trade Organization (WTO) dispute settlement, leading to the collapse of the appellate level of that system.

版面编辑:喻竹杨洋
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