News Snapshot:
The world faces unprecedented and difficult challenges, including US-China rivalry, the Russian invasion of Ukraine, the Covid-19 pandemic, climate change and supply chain disruptions. One consequence of these challenges is the possible division of the world economy into two or more political blocs, not unlike the situation that prevailed before the Second World War. To avoid this, the rules-based international trading system needs re-invigoration to deal with the problems faced by the World Trade Organization (WTO). The US and China are relentlessly competing in areas including military strength, scientific and technological advancement and global leadership. One strategy adopted by the...
