Can the Osaka G20 summit resuscitate the rules-based trading system?
Note: This article was originally published in East Asia Forum on 23 June 2019. ERIA’s Chief Economist, Prof Fukunari Kimura, is the author.
Economists are fretting over the trade turmoil that currently roils the world economy. Worst case scenarios are now front and centre, including the prospect of a WTO minus one (the United States or China), or perhaps even the world minus the WTO. The US–China trade warhas significantly degraded the rules-based trading regime. The upcoming Osaka G20 summit over 28–29 June could send the global trade system either into intensive care or to the coroner. (Read the full article by using the link above).