While the world economy continues to be as connected by trade in goods and services as never before, the institutions governing global trade face an enduring crisis. Complemented by my-country-first narratives and rising tariff barriers by an increasing number of political leaders around the world, free trade is challenged. New types of trade, in services and data, create new challenges and require multilateral agreements to adequately govern them. And the COVID-19 pandemic makes the weaknesses of the optimized global production networks apparent. All these issues and problems have in common that the people can no longer fully benefit from trade. After a long period with a trading system fulfilling predominantly corporate interests, it is now time to step back and ensure a trading system that is centered on human needs and gains and that benefits all countries. This Global Table will discuss the required policy approaches.
Harvard University, USA
Susan Ariel Aaronson
Kiel Institute for the World Economy
Jacques Delors Institute
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Policy Recommendations, Policy Briefs and Articles
Policy Briefs contain recommendations and visions and cover policy ares that are of interest to G20 policymakers. The majority of the Policy Briefs has been developed by a corresponding T20 Task Force.
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