WTO warns of 'first signs' of trade deglobalization

Certain countries decided that everything was political, and I'm not just talking about the US.

Why is this a bad thing?

Trade always has been globalized, through many thousands of years from very ancient times up to now. That won't change suddenly now, whether by sanctions or de-risking strategies. Resources, production, development and research for new products and services, that's all not equally distributed. That's why there always will be globalized trade. Maybe you have another and differing definition of globalization or deglobalization, as well as kind of intrinsic bad intentions, which always leads to those strange discussions, overdoing and conflicts. But fact simply is, there's always globalized trade.

Globalization and the never ending barrage of climate change warning are in complete opposite of eachother.

On one hand we are told to reduce dependency on fossil fuels, then the next day we are told buy stuff that is produced half way around the world in less environmentally friendly ways shipped thousands of kilometers using fossil fuels and no we don't have any viable alternative to fossil fuels to power container ships unless you want a tens of thousands of nuclear reactors floating all over the place.

Globalization only works if all nations get along when it come to trading and free trade. However, its not going to happen because humans are involved.

EastmanToday 09:23 am JST

BRICS impact?

highly likely yes.

BRICS countries will not need WTO at all...all in process...step by step

There are a limited numbers of countries that can afford to be in investment clubs. I don't see Niger being admitted to BRICS any time soon.

David BrentToday 08:17 am JST

Why is this a bad thing?

You see, there is this thing called economics, and it is why everyone in North Korea is so thin compared to everyone else.

Deglobalisation is Brexit for everyone. Brexit took Sterling down 25%, created shortages of goods, food and staff, and drove a stake into the economy turbo-charging inflation, interest rates, mortgage rates and poverty, whilst reducing house prices. There are now food banks everywhere and public services are collapsing.

So if the rest of you want to deglobalise for political reasons, feel free. Just know that you are letting yourself in for loads of that to make your politicians happy.

You see, there is this thing called economics,

Yes controlled by a few rich countries mostly in North America and Europe, that go around telling the rest of the world what to do and blocking their economies if they refused to bow down to their masters in Europe and America.

Globalization is perfect for those that control the banking global money transfers.

An African country says no to anything, they are threatened with being cut of from international banking the same applies all around the world except America and western Europe.

This is why a handful of foreign companies own most of the mineral mines in Africa and South America, and the workers work and live in appalling conditions.

Any attempts by these countries to change the situation is met by the accusations of being anti global trade, blocking their international financing, and blocking food trade.

Basically do as we say because now you depend or outside grain and oil and if you don't do as we say we will make it difficult to get that grain or oil and to pay for anything we the USA and Europe don't approve of.

Colonialism and slavery hasn't ended it only took a different form.

Today, there are still millions of slaves. Nothing ended.

"49.6 million people live in modern slavery – in forced labour and forced marriage. Roughly a quarter of all victims of modern slavery are children."

Another word for globalization is exploitation!

What western countries call the benefits of globalization, the rest of the world calls exploitation and neo-colonialism!

Deglobalization started with Trump. He lost confidence in the ability of the USA to compete globally, especially against China. The aim of deglobalization was to build up the US economy. Trump didn't realize that the US didn't have the new technology, or an American workforce trained to use the new technology to compete. The US is falling behind.

GBR48

Brexit took Sterling down 25%, created shortages of goods, food and staff, and drove a stake into the economy turbo-charging inflation, interest rates, mortgage rates and poverty, whilst reducing house prices.

Most of those things are happening in Canada, and its government remains very pro free-trade, globalization, mass immigration, etc. Many Canadians pay more for their home-grown gasoline than the Japanese who import all theirs. Globalization creates bizarre market distortions that end up hurting the working population.

There are now food banks everywhere and public services are collapsing.

Canada's food banks are seeing triple the demand from pre-Covid.

It ain't Brexit. It's covid and Ukraine, and global integration is what made our economies so vulnerable to these global shocks.

Why is this a bad thing?

Very good question.

Corporations chasing the cheapest labor (which includes forced labor) around the globe, and making the environment pay by way of shipping everything around the globe is surely not good.

IMHO, the planet needs de-globalisation sooner rather than later. Let trade be influenced by shared values amongst friends and neighbours instead.

Deglobalization started with Trump

Not necessarily, it was under Xi (in 2013) that Made in China 2025 started. Why should the world believe China's globalisation narrative when itself was desperately trying to wean itself off the world.

China only wanted the world to rely on it so it weaponise trade, similarly it tried to wean itself off the world so it can nullify any trade weaponisation by the rest of the world.

Only the EU states believed in the China narratives. Perhaps they don't mind mixing a bit of forced labor with their supply chain.

AntiquesavingToday 09:54 am JST

You see, there is this thing called economics,

Yes controlled by a few rich countries mostly in North America and Europe, that go around telling the rest of the world what to do and blocking their economies if they refused to bow down to their masters in Europe and America.

I believe China is quite good at the economics game, or at least they like to think so. They are also good at debt traps and using a country's resource sources as collateral.

Colonialism and slavery hasn't ended it only took a different form.

You said it.

Great. Too much one way traffic by too many countries.

This de-globalization probably would examine a range of factors, from trade tensions and protectionism to changes in trade patterns and the role of international organizations. It would aim to provide a comprehensive understanding of the evolving landscape of global trade.