Category Trade

The U.S. will suffer if it quits the WTO

For Pascal Lamy, “there will be a huge cost for the U.S. economy. For instance, they will lose the protection of the WTO agreement that protect the U.S. intellectual property worldwide. U.S. intellectual property would only be enforced within the U.S. territory, that will be huge damage for U.S. economy,” Watch the full interview : […]

Can the WTO pull itself out of the abyss?

Pascal Lamy at the Center for China and Globalization in Beijing, China, March 25, 2019 :  “the multilateral trading system has been shaken in a totally unprecedented way. […] The U.S.-China geopolitical rivalry is a permanent issue.” https://news.cgtn.com/news/3d3d414f77556a4e33457a6333566d54/index.html

“In 1994, when the WTO was created, the West accepted a binding dispute settlement which leads to the appreciation of judges”

For Pascal Lamy, “the WTO rules-based system is more solid than other areas of international governance because it has a court system which adjudicates who is right and who is wrong.” Watch the full interview here : https://news.cgtn.com/news/3451444f32494464776c6d636a4e6e62684a4856/index.html

“L’ouverture des échanges, ça produit des bénéfices globalement. Il y a plus de gagnants que de perdants”

According to Pascal Lamy, “l’ouverture des échanges, ça produit des bénéfices globalement. Il y a plus de gagnants que de perdants”. He does however recognize that “il y a dans le code de l’OMC des règles qui ne disciplinent pas assez un certain nombre de pratiques chinoises, et notamment en matière de subventions.” https://embedftv-a.akamaihd.net/?ue=4de6fe3dfbb46124ed15a950b6eb81c3&videoid=f338d850-3ae9-11e9-b19d-000d3a2437a2&autoplay=1

“Si on regarde les chiffres, les européens ne sont pas protectionnistes… C’est un problème d’insuffisance des systèmes sociaux”

Pascal Lamy was invited on France Inter to discuss the opposition between free-trade and protectionism.  According to him, “dans cette globalisation, qui a des côtés positifs et des côtés négatifs, il faut essayer de prendre le bien et d’éviter les dégâts , il faut maîtriser la mondialisation. Aujourd’hui nous avons atteint un niveau d’interdépendance économique […]

Pascal Lamy intervened at the plenary session of the Conseillers du Commerce Extérieur de la France (CCE)