WTO chief Ngozi Okonjo-Iweala warns that the global trade order has undergone an ‘irrevocable change’, facing its worst disruption in 80 years. She emphasizes that the multilateral system will not return and urges countries to reform global trade rules.
Why It Matters
Okonjo-Iweala’s statement highlights the urgent need for countries to adapt to the evolving global trade landscape. With the system facing unprecedented challenges, reforming trade rules is essential to ensure fair and sustainable trade practices. This call for change comes at a critical time when the global economy is increasingly interconnected, emphasizing the importance of cooperation and collaboration among nations.
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