Global trade and Europe
Multilateral trade has generated a huge amount of wealth, and lifted many around the world out of poverty. But there is also growing awareness that globalisation is creating “losers”, and this risks feeding a backlash against multilateral trade. We explore the benefits and risks of multilateral trade, and ask how Europe should behave in a shifting context
In this episode of The Sound of Economics we focus on trade multilateralism. What are the advantages of a multilateral approach to trade, and what are the risks? What challenges is the global trade system facing, and how should Europe react?
Bruegel’s André Sapir explains the benefits of multilateral trade agreements, and calls on society’s to find ways to compensate those who lose out. Arancha González, executive director of the International Trade Center, makes a strong case against protectionsism. Petra Pinzler, journalist and author, highlights the weaknesses in some narrow economic thinking about trade and argues for better quality trade agreements that empower states. And Guntram Wolff, Bruegel’s director, discusses Europe’s place in the multilateral trade system.
Arancha González, executive director, International Trade Centre
Petra Pinzler, correspondent, Die Zeit
André Sapir, senior scholar, Bruegel
Guntram Wolff, director, Bruegel
Written, edited and presented by Bryn Watkins