Corinne M. Flick speaks with Fredrik Erixon, Director of the European Centre for International Political Economy, about:
Decline & Change: Global Institutions in Transformation
Here’s what he said:
A moment like this can be used to re-engineer institutions to make them more relevant and more powerful to deal with 21st century problems.
The WTO and its members have not been able to make that transition from a goods trade orientated world economy to a services and digital trade orientated world economy.
China is such a large economy now which makes it impossible to allow China to operate on the basis of market economy standards that aren’t comparable to standards that apply in other countries.