Publications /
Book / Report

Back
Strengthening the Rules-Based Trading System
Authors
T20 experts
May 28, 2019

The world trading system has been remarkably successful in many respects but is presently under tremendous strain. The causes are deep-seated and require a strategic response. The future of the system depends critically on reinvigorating the WTO and policy change in the largest trading nations. Important measures are required to sustain the multilateral trading system, and urgent action is needed to avoid a scenario where the system fragments. The worst scenarios will disrupt global trade and see a world which splinters into large trading blocs (most likely centered around China, the European Union and the United States) and where trade relations are based to a large extent on relative power instead of rules. In such a world the smallest players, such as those in Africa and especially those whose trade depends on unilateral preferences and is least covered by bilateral or regional agreements will be at the greatest disadvantage. All countries will incur enormous costs only to try and reinvent a system that is already in place today under the WTO.

The Policy Center for the New South supports the trade work of the think-tanks that develop the policy brief for the G-20 leaders, the T-20. It does so in a modest way by devoting the time of one of its Senior Fellows and by publishing in this volume the seven policy briefs of the T-20 Task-Force on Trade, Investment and Globalization. 

RELATED CONTENT

  • Authors
    Laura Rubidge
    July 25, 2025
    This paper was originally published on The South African Institute of International Affairs (SAIIA) In the face of Africa’s development challenges and the mismatch between long-term needs and short-term pressures, ring-fencing development expenditures offers a viable solution to secure sustainable financing for growth. ...
  • Authors
    Edited by
    July 14, 2025
    Available soon on livremoi. The 2025 edition of the African Economic Report continues in the spirit of previous versions. It presents a broad overview of the continent’s economic evolution and offers insights into Africa’s relationship with the rest of the world. In other words, it explores how Africa navigates the effects of global fragmentation within its regional spaces while pursuing its ambition of continental integration. ...
  • July 9, 2025
    Developing countries have few options to deal with the ongoing tariff war amid unpredictable shifts in global supply chains. However, regional economic integration offers a strategic path of development in these uncertain and challenging times. Helped by geographical proximity and cultural familiarity, countries in a region can benefit greatly from promoting trade with one another, reaping the benefits of comparative advantages and economies of scale—if they are able to establish a ...
  • July 8, 2025
    حلقة اليوم من برنامج حديث الثلاثاء تناقش اتفاقية التبادل الحر بين المغرب وتركيا، التي وُقعت عام 2004 ودخلت حيز التنفيذ سنة 2006 بهدف تعزيز التجارة الثنائية. رغم ارتفاع حجم المبادلات، سجل الميزان التجاري عجزاً متزايداً لصالح تركيا تجاوز 3 مليارات دولار سنة 2024، رغم تعديل الاتفاقية سنة 2...
  • June 23, 2025
    President Donald Trump's "Reciprocal Tariff" policy, announced on April 2, 2025 (dubbed "Liberation Day"), represents one of the most significant shifts in U.S. trade policy in nearly a century. Trump’s policy imposes a baseline 10% tariff on all imports and additional country-specific tariffs that range from 10% to 50% for countries designated as having "non-reciprocal trading practices" with the U.S. These specific tariffs are determined based on each country’s bilateral trade bal ...
  • May 6, 2025
    في بداية شهر أبريل، أعلن الرئيس الأمريكي دونالد ترامب عن سلسلة من الإجراءات التجارية الجديدة، أبرزها فرض رسوم جمركية بنسبة 10% على معظم الواردات الأمريكية، مع زيادات تصل إلى 145% على بعض المنتجات القادمة من دول محددة، خاصة الصين. هذه القرارات أثارت مخاوف واسعة في الأوساط الاقتصادية بشأن...
  • Authors
    May 5, 2025
    Last week marked my twenty-third consecutive week attending the World Bank and IMF Spring Meetings in Washington, DC. While I no longer participate in the official sessions, I continue to be invited to the many side conventions and debates that surround them.A key moment is always the release of the IMF's World Economic Outlook report. This year, it drew particular attention due to curiosity about how the institution would project the impacts of the tariff war initiated by Trump’s s ...
  • April 29, 2025
    At the recent World Bank and IMF Spring Meetings, heightened attention focused on the IMF’s downgraded global economic forecasts. Global growth is now projected at 2.8% for 2025 and 3% for 2026, down from 3.3% in 2024, largely due to rising trade barriers initiated by Mr. Trump’s second...
  • April 28, 2025
    In this episode, we discuss the Economic Report on Africa 2025, focusing on the African Continental Free Trade Area (AfCFTA) and its transformative potential. We explore how North African ...