Trending Now
We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy.
{{ subpage.title }}
World trade at risk without globalization, warns WTO chief Ngozi Okonjo-Iweala
On GZERO World, Ian Bremmer sits down with WTO Director-General Ngozi Okonjo-Iweala to talk about world trade, the complicated business of moving goods and services across borders around the world.
Global trade hit a staggering $32 trillion in 2022 and the World Trade Organization oversees 98% of it. It’s an international institution that doesn’t normally make headlines, but has a massive role in almost every aspect of your daily life—from the food you eat, to the clothes you wear, to the cars you drive, to the phone you’re probably using to watch this video.
The WTO is the referee of global trade, a place for countries to negotiate agreements and resolve disputes. But it’s also received criticism for being too slow to adapt to the modern economy and for favoring wealthy nations over countries in the Global South.
Okonjo-Iweala has been pushing members to recommit to the principles of globalization and invest in developing economies.
“It's not right that 10 countries export 80% of the vaccines in the world,” Okonjo-Iweala says, “It's too concentrated.”
She argues that by decentralizing and diversifying global supply chains, we can make the global economy more resilient, reduce monopolies, and bring countries left on the margins of world trade into the mainstream.
Watch GZERO World with Ian Bremmer every week at gzeromedia.com/gzeroworld and on US public television. Check local listings.
- Episode 4: Broken (supply) chains ›
- US-China communications brighten over trade ›
- Climate change trade wars ›
- Hard Numbers: German far right comes up short, Ukraine dreams of drones, a space rock arrives on earth, world trade slows ›
- Women in power — the World Trade Organization's Ngozi Okonjo-Iweala ›
- What Africa has to say about climate change ›
- The Graphic Truth: Has climate change hurt or helped farmers? ›
- Crisis at the WTO: Fixing a broken dispute system - GZERO Media ›
Ian Explains: What is the World Trade Organization?
You probably don’t spend a ton of time thinking about the World Trade Organization (WTO), but it has a huge role in almost every aspect of your daily life—from your morning Brazil-roasted coffee to the Chinese-made smartphone you’re probably using to watch this video.
The WTO is an international organization that deals with the complicated business of moving goods and services across borders. It’s kind of like the referee for global trade, setting the rules and providing a forum for countries to negotiate agreements and resolve disputes. It’s why you can buy avocados from Mexico, clothes from Vietnam, or cars from Korea in the United States without a second thought.
Global trade ballooned to a staggering $32 trillion in 2022 and the WTO oversees 98% of it.
The WTO has been a force for globalization. It’s opened up new markets, lowered tariffs, and lifted millions out of poverty, but it’s also received criticism for favoring wealthy nations and exacerbating global inequality. Not to mention a broken dispute settlement system that’s made resolving international trade conflict virtually impossible.
On Ian Explains, Ian Bremmer dives into the history of the WTO, why the US is blocking appointments of WTO judges, and what all of this has to do with Japanese octopus.
Watch the full interview: World trade at risk without globalization, warns WTO chief Ngozi Okonjo-Iweala
Watch the upcoming episode of GZERO World with Ian Bremmer on US public television this weekend (check local listing) and at gzeromedia.com/gzeroworld.
- World Trade Organization - GZERO Media ›
- Women in power — the World Trade Organization's Ngozi Okonjo-Iweala ›
- Hard Numbers: GDP wars, WTO rules in Beijing’s favor, Africans support Chinese engagement, China winning 5G battle ›
- The Graphic Truth: Russia vs. US trade ties in Africa ›
- Graphic Truth: Who Wins From A US-China Trade War? ›
- Crisis at the WTO: Fixing a broken dispute system - GZERO Media ›