While the unraveling of the consensus behind globalization may be hard to date, ‘China shock’ and the weakness of the global trade governance system, according to Stephen Olson may have contributed to the crack in the liberal international order. He credited the end of the notion that global interdependence is a driver of peace as a huge historical shift by contextualizing the process of building of the Bretton Woods institutions. The future of the global trading system may look very different- a more fragmented system” of “self-selected trade blocs” not built on efficiency but on shared values, philosophies, and common geopolitical outlook. Watch this video for a historical context and a futuristic perspective on the global trade order.
About the NPF International Trade Fellowship 2022
The National Press Foundation in collaboration with the Hinrich Foundation welcomed 22 Asia-based journalists to its International Trade Fellowship in Singapore last month. The five-day workshop, held at the Foundation’s offices in Singapore, touched on digital trade, trade agreements, and U.S.-China trade friction among other issues. The NPF International Trade Fellowship is part of an ongoing program of trade training for journalists and awards for trade coverage, sponsored by the Hinrich Foundation.
© The Hinrich Foundation. See our website Terms and conditions for our copyright and reprint policy. All statements of fact and the views, conclusions and recommendations expressed in this publication are the sole responsibility of the author(s).