Thursday, February 09, 2017
World trading pattern returns to WTO system
ANBOUND
Before the rise of the wave of "de-globalization", the rise of many bilateral free trade agreements and regional free trade agreements have weakened the global trade pattern marked by WTO. However, after Donald Trump becomes the President of the United States, TPP and TTIP are suspended and this will be beneficial to the WTO, which would make the global trade balance pattern revert back to WTO-centric pattern. Even so, Anbound Think Tank warns that the return of the trade pattern is not a complete return to the WTO pattern of the past; WTO will remain its core global trade rules, yet at the same time a number of regional and bilateral free trade agreements will serve to complement the global trading system. This is conducive to China to continue to be benefitted from globalization, and also conducive to China to play a more active role.