In its new report on the state of world trade, unveiled on Tuesday 12 September, the World Trade Organization (WTO) expresses concern that current trends in trade could jeopardise the proper functioning of the globalised market economy.
“Recent crises, such as the Covid-19 pandemic and the war in Ukraine, have fed into perceptions that globalisation exposes economies to excessive risks”, the report states. “Consequently, a trade-sceptic narrative has gained traction, suggesting that...