Published 15 November 2022
With the rapidly changing international environment, global trade is beginning to face strong headwinds. Questions surrounding globalization and deglobalization are emerging, and the role of multilateral institutions has likewise come into question.
Hinrich Foundation Research Fellow, Stewart Paterson participated in the panel discussion on globalization and trade organized by Chatham House as part of the Global Trade Week Conference. He stressed that the global financial crisis brought an end to the period of hyperglobalization, and geopolitics is now driving the bifurcation of the global economy. Observing the middle powers, he noted that they tend to trade with superpowers rather than amongst themselves. He added that while diversification in supply chains has commenced, this process will take a long time. He acknowledged the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as a forum for middle powers to engage.
Catch up on this discussion with Paterson and other trade experts to understand the geopolitical implications of global trade. The discussion was moderated by Marianne Schneider-Petsinger, Project Director, Global Trade Policy Forum, Chatham House, and it featured three other experts who shared their insights on the current geopolitical risks and trade shocks.
- Ignacio García Bercero, Director, Multilateral Affairs, Strategy, Analysis and Evaluation, Directorate General for Trade, European Commission
- Yu Jie, Senior Research Fellow on China, Asia-Pacific Programme, Chatham House
- Stewart Paterson, Research Fellow, Hinrich Foundation
- Jeongmin Seong, Partner, McKinsey Global Institute
The panel discussion was conducted as part of the Global Trade Week Conference sponsored by the Hinrich Foundation and organized by Chatham House.
This 90-minute session was held on 3 November 2022 at 10:00 AM UTC.
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