The open trading system is under pressure. As countries increasingly seek to leverage economic interdependence for geopolitical gain, what does it mean for the future of globalisation? The 2022 edition of the AIG Global Trade Series explores the competition and connectedness that characterise the current trade landscape.
As the global economy emerges from the pandemic, global trade flows and supply chains are being rewired. At the same time, intensifying regulatory competition around data and technology, between states and within regions, is further straining the open trading system. With multilateral trade governance at its weakest in decades, how can the system adapt to these challenges and to the impact of climate change?
But the most powerful challenge to the future of globalisation comes from the corrosive influence of geopolitical competition. Will Russia's war in Ukraine mark a watershed moment for the future of globalisation? Can countries be cut off from the global economy, and if so, what would that mean?
With global leadership a contested space, trade policy is politicised and the value of trade agreements measured in terms of wider national strategy and security considerations. Can open trade continued globalisation survive this shift "from Doha to Westphalia"?
These are just some of the issues explored in the 2022 edition of AIG Global Trade Series.