Former WTO Director General Pascal Lamy on Global Trade Challenges and China
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- Developments
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New informationRepeats or wire copies
What happened
Pascal Lamy, who served two terms as Director General of the World Trade Organization, shared views on global economic governance. Lamy discussed the challenges facing the international trading system, specifically the choice the European Union faces between achieving a rebalance or moving toward protectionism. He stated that Chinese authorities’ lack of interest in addressing structural macroeconomic imbalance was a major issue for the European Union.
From scmp.com
Why it matters
The discussion centers on the pressures on the multilateral trading system during a period of geopolitical tension. Lamy's reflections touch upon the long-term viability of the current global trade architecture amid major shifts in global economic power and international norms.
From scmp.com
Who's involved
- Pascal LamyFormer Director General of the World Trade Organization and subject of the reflections.
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The entities involved
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Pascal Lamy
French businessman and political advisor
Nothing else this week.
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World Trade Organization
intergovernmental organization that intends to supervise and liberalize international trade
Related events
- Ankara and Beijing discussed trade imbalances, noting that tariffs cannot eliminate structural issues and trade-defense measures must align with WTO rules.
- Trade Commissioner visited Beijing as WTO sanctioned investigation into Chinese subsidies and trade deficit reached one billion euros daily.
- Minister Wang Wentao met with EU trade officials in Beijing to discuss differences within the WTO framework.