By Huan Yuping, People’s Daily
The international economic and trade landscape is undergoing profound transformation. As the World Trade Organization (WTO) marks its 30th anniversary, two prominent trends have emerged within the global trading system.
On one hand, a few individual countries have launched trade wars and tariff wars that severely disrupt the world economy and undermine international trade rules.
On the other hand, faced with mounting challenges, countries are proactively seeking change, leading to a surge of regional and multilateral trade agreements.
Some international observers worry that the global landscape of economic cooperation is being eroded by a “hilly terrain” shaped by geopolitical rivalries. The multilateral trading system, once a stabilizer of the world economy, is now facing unprecedented tests.
Thirty years ago, the establishment of the WTO reassured the world that trade conflicts could be resolved through rules. Today, at a time when a rules-based international order faces existential challenges, the choices made by the international community will determine the path ahead.
Will the world erect isolating “walls,” or will it build open “bridges?” In the face of economic globalization, any country, no matter big or small, strong or weak, that turns away from prevailing global trends will ultimately fall behind the times.
Despite stiff headwinds, global trade has shown resilience, said WTO Director-General Ngozi Okonjo-Iweala. Around the world, international economic cooperation is undergoing profound changes that will shape the future of global trade.
In terms of drivers, developing economies are increasingly becoming the main engine of global trade growth and a key force in reshaping the system. In terms of structure, while traditional trade is slowing, digital trade and green trade are growing against the trend.
In terms of networks, countries are diversifying their trade partnerships to reduce dependence on single markets and enhance resilience. In terms of industries, most countries are striving to build new competitive advantages with a global orientation, seeking to reposition themselves within global value chains.
Amid the interplay of crises and responses, pressures and driving forces, one direction is increasingly clear: the world cannot revert to a state of isolation and fragmentation, nor can the global economy be artificially divided.
At a moment of change, one conviction must remain firm: multilateralism is the essential pathway to addressing the difficulties and challenges the world faces, and firmly safeguarding the multilateral trading system is key to ensuring steady and sustained international economic cooperation.
Efforts at the bilateral and regional levels can help mitigate certain shocks, but they cannot replace the multilateral trading system. Only when the two work in synergy can international trade develop in a stable and orderly way.
As a responsible member of the WTO, China has made active contributions to upholding the effectiveness and authoritativeness of the multilateral trading system. In the face of trade wars and tariff wars, China has taken a clear stand against unilateralism and protectionism.
Recently, China announced that it will not seek new special and differential treatment in current and future negotiations at the WTO, marking an important shift in China’s role in the global trading system and demonstrating its firm commitment to safeguarding the multilateral trading system.
China stands ready to work with all parties to follow the prevailing trend, uphold the right course, firmly defend the multilateral trading system, and promote a universally beneficial, inclusive economic globalization, so as to expand the space for shared development through openness and cooperation and create a more prosperous future together
