WTO Reform and Free Trade Agreements

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Topic of Parallel Session C

WTO Reform and Free Trade Agreements

Options and Prospects

Since the financial crisis in 2008, trade, cross-border investment, bank loans and supply chains have all been shrinking or stagnating relative to world GDP. A cover article of The Economist pointed out that “Slowbalisation” is becoming a new model of world economic development, and bilateral and regional linkages between economies will be closer. At the core of the multilateral trading system, the WTO needs necessary reforms. Large-scale free trade agreements such as CPTPP, USMCA and RCEP have also emerged. In this session, panelists will focus on where the multilateral and regional cooperation mechanisms are heading, what impact will be brought to businesses and consumers, and what role WTO reforms and FTA will play in this process.