Trade’s Twilight?
A eulogy for the WTO.
Good evening.?More than two decades after it paved the way for China’s accession to the World Trade Organization, the U.S. is increasingly uncomfortable with the result — and unsure how to deal. The result, as?our cover story this week shows, is that the U.S. — once one of the WTO’s biggest cheerleaders — is almost entirely responsible for sidelining the revered global trading system. Elsewhere, we have infographics on?China’s road to automotive dominance;?an interview with Joseph Wu?on Taiwan’s international outreach; a reported piece on?China’s influence in the crypto world; and?an op-ed about Beijing’s new measures?to support private companies.
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How the World Trade Organization lost control of its two most important members — and became irrelevant in the process.?Grady McGregor reports.
In the first half of 2023, China overtook Japan as the world’s largest automotive exporter, just one year after speeding into second place by displacing Germany. This week’s?infographics by Aaron Mc Nicholas?look at the major milestones on China’s road to the top.
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Jaushieh Joseph Wu has spent his career carving out an international identity for his native Taiwan. He was appointed Minister of Foreign Affairs for the Republic of China (Taiwan) in February 2018, after serving as the top aide to President Tsai Ing-wen and secretary-general of the National Security Council of Taiwan. He was also Taiwan’s chief representative to the U.S., from 2007 to 2008, and continued as the Democratic Progressive Party’s representative in Washington from 2012 to 2016, while the DPP was out of power. In this week’s?Q&A with Lucy Hornby, he discusses efforts to reach out to ‘like-minded partners’ and break out from China’s diplomatic encirclement.
The rise of a little-known crypto currency firm reflects the influence China continues to hold over the crypto world.?Katrina Northrop reports.
Beijing has announced new measures to support private companies. But its recent track record invites skepticism,?argues George Magnus in this week’s op-ed.
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