Articles tagged with: Migration

10
October
2019

The Multilateral Crisis in Trade:

What it means to Millennials

Renee Moorjani

The 2018 G20 Buenos Aires summit saw the Director-General of the WTO lament the multilateral crisis, stating that it is the worst crisis “not only for the WTO but for the whole multilateral trading system since the GATT in 1947”

No doubt, the foundations of trade in the WTO were laid in an economy that no longer exists- the exponential growth of the service industry, e-commerce and the rise of emerging economies pose a fatal threat to the operating modalities of the WTO. Trade tensions are amplified by a lack of periodic performance evaluations, failure of the Doha Round in 2001, pursuit of strategic interests by China and others, aggressive unilateralism by USA and the consequent engagement in trade negotiations outside the auspices of WTO.

Why are these trade tensions of such pertinence to us as the youth of New Zealand?

 


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