IS THE WORLD HEADING FROM FREE TO STRATEGIC TRADE?

Dr. Ngozi, Director General of the World Trade Organization, discusses the state of global trade, emphasizing that despite disruptions, 72% of world trade still operates under WTO terms. She acknowledges criticisms of the system, particularly from the U.S., and advocates for reform. The conversation highlights the resilience of the global trading system and the importance of countries trading among themselves. Dr. Ngozi points out the growing opportunities in services trade and digitally delivered services. The discussion turns to the impact of AI on trade, with Dr. Ngozi underscoring the need for new rules and standards. Zannie questions whether the WTO is at the center of global trading relationships, given the influence of the U.S. and China. Dr. Ngozi urges business leaders to support WTO reform and bring their ideas to their governments. She stresses the need for optimism and proactive action to strengthen global trade.