The head of the World Trade Organization sharply criticized western governments for embracing protectionist policies and shifting toward a power-based global trading system.
“Recent unilateral protectionist measures by some developed countries coupled with a more general reticence about the multilateral trading system and the WTO is seen as cynical and hypocritical by developing countries,” WTO Director-General Ngozi Okonjo-Iweala said Monday at a conference in Berlin.
Though Okonjo-Iweala didn’t single out any country, US administrations under Presidents Joe Biden and Donald Trump have called for more domestic production in key industries and a larger focus on economic security — after more than a quarter-century of American policy fostering globalization.
She cited academic research that found China’s Belt and Road Initiative provided $428 billion in finance to developing countries between 2013 and 2017. “It is a reality across the African continent, for example, that people see the impact of new or improved physical infrastructure built with Chinese assistance,” she said.
Okonjo-Iweala also faulted western governments for failing to offer sufficient financing to help developing countries transition to green economies as a means to reduce the effects of climate change.
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