As the 13th Ministerial Conference of the World Trade Organization (WTO) begins, the question is not whether this once-important gathering will fail, only if it will fail in a way that’s even worth noticing. The prevailing sentiment seems to be, "True, this broken relic of neoliberalism is barely any longer functioning. Who cares?" Regardless of your views on globalization, you should care. Unrepentant neoliberals like myself see the rising tide of trade protection and deliberate economic fragmentation as a grave mistake. On our view that liberal trade is good, a suitably refurbished and effective WTO is an essential component of rising global prosperity. But even dedicated advocates of tariffs, subsidies, planning, industrial policy, friend-shoring, re-shoring, etc, ought to see the need for a well-functioning WTO because fragmentation ought to be at least orderly and cooperative rather than chaotic. But chaotic fragmentation is where the world economy is heading.
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Denne historien er fra February 27, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Reduction of energy costs in the telecom sector
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While 12 modern treatments are covered, many advanced procedures are yet to be included
Address economic distress with structural reforms and not doles
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