Columbia University economist Jeffrey Sachs points out the U.S.'s push for a 'rules-based order' often masks a preference for its own rules. He calls for a return to true international trade norms, urging the U.S. to re-engage with the WTO—could a new U.S. administration in 2025 revive global cooperation?
#JeffreySachs #InternationalTrade #WTO #USPolicy #GlobalEconomy #China
#JeffreySachs #InternationalTrade #WTO #USPolicy #GlobalEconomy #China
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00:00The U.S. likes to talk about rules-based order,
00:02but we know that that is a kind of subterfuge for U.S. rules,
00:07but we actually have international rules
00:09at the WTO.
00:11They should be applied.
00:13The United States has completely brushed off the WTO,
00:17the World Trade Organization, in recent years.
00:20We should not give up on it.
00:22It is key to global prosperity.
00:24So I would say that while protectionism is likely
00:29in the United States in the years ahead,
00:31I would not give up on having a true international
00:38trade system under WTO and work on that,
00:42especially in 2025 when there's a new U.S. administration.